154 Partners has invested in an accounting services platform in the Mountain West and a guest services and staffing business for sports and live event venues.

154 Partners targets investments in businesses generating between $2 million and $15 million in free cash flow.

154 Partners' primary investment focus is on founder-run businesses that have not previously received institutional capital.

154 Partners focuses its investments in the business services, residential services, and professional services sectors, including businesses that support sports and live events.

154 Partners believes its guest services and staffing business could benefit from labor displacement caused by AI, as it provides second jobs for people.

There are approximately 16,000 golf courses in the United States, of which about 11,000 are public and 4,000 to 5,000 are private.