JR Dallas Wealth
Investment criteria

What we look for.

We invest our own capital in three ways: owning and building private companies, backing proven growth businesses, and developing real estate with strong partners. We define ourselves by how we invest, not by industry.

Our own capital

No fund, no outside investors, no fixed term. We decide quickly and hold for as long as the business or asset warrants.

Partners, not just funders

Founders, families and operators stay invested alongside us. We add capital, follow-on capital and relationships, and leave the running of the business to the people who know it.

Platform first

We prefer one strong platform that can grow through further acquisitions, and we commit follow-on capital to the right ones.

Strategy

Private Companies

Control and significant minority investments in established businesses, usually as the platform for further acquisitions.

How we invest
Fragmented industries built into leadersIndustries with many small operators and no dominant player, where a strong platform and add-on acquisitions can establish regional or national leadership.
Platform size
$5 million+ EBITDAAdd-on acquisitions from $2 million EBITDA, and smaller tuck-ins for platforms we own.
Equity
$15 million to $75 million per platformMore with co-investors. Follow-on capital committed for add-ons.
Profile
Revenue of $25 million+, EBITDA margins of 12% or higher, recurring or repeat revenue, no customer above 20% of salesEssential products and services with steady demand through the cycle.
Position
Control or significant minorityCommon equity, with preferred equity where it fits. Management and owners remain invested.
Geography
United States, with a focus on Texas
Strategy

Growth Capital

Minority capital for companies that have proven the model and are ready to scale.

How we invest
Patient growth capital for proven businessesFounder-friendly. We lead or co-lead rounds, take a board seat and help with relationships across our other holdings.
Stage
Product-market fit and real revenueSeed and pre-revenue ventures are outside our scope.
Revenue
$5 million+ annual revenueOr a clear path to it within 12 to 18 months.
Equity
$2 million to $15 million per roundMore with co-investors.
Profile
Sound unit economics, a defensible niche, a capable management team and a credible path to profitability or liquidity
Position
Minority, usually with a board seatConvertible or structured instruments where appropriate.
Geography
United States, with a focus on Texas
Strategy

Real Estate

Development and value-add investments through proven local operators and joint ventures.

How we invest
Capital partner to proven developers and operatorsWe provide equity and judgment. Our partners provide market knowledge, entitlement and execution.
Strategy
Value-add, development, new construction and operating platforms
Assets
Residential, medical, mixed-use, industrial and digital infrastructureOffice considered selectively, with a clear basis or conversion thesis.
Equity
$10 million to $50 million+ per project or partnership
Position
Joint venture, preferred equity or control
Markets
Texas metros and select growth markets across the United States

Situations we favor

The circumstances in which we are most useful to an owner.

  • Founder or family succession and long-term ownership transitions
  • Owner liquidity and partial recapitalizations
  • Management buyouts and management-led platforms
  • Carve-outs and non-core divisions of larger companies
  • Platforms with a pipeline of add-on acquisitions
  • Co-investments alongside sponsors and operators

What we do not pursue

A short list, so that neither of us spends time on a transaction that does not fit.

  • Start-ups and pre-revenue companies
  • Turnarounds and distressed situations
  • Businesses driven by commodity prices
  • Passive positions in third-party funds
  • Single-customer or single-contract businesses

Process

We keep it brief and respectful of an owner's time.

Submit
A short summary, the last two to three years of financials, and the reason for the transaction.
Respond
We reply to qualified submissions within five business days and sign an NDA on request.
Meet
A direct conversation with the principal. Decisions are made by a small team, without a committee calendar.

If your opportunity fits, we would like to hear from you.

Submit an opportunity