Home About Us Investment Focus Selling Your Business? Contact Us
Delphis Capital is formed by Managing Partners who are fully dedicated to sourcing, negotiating, and operating its portofolio company(ies), and Limited Partners who serve as active advisors and directors, leveraging from their experience with investing and growing small and mid-sized companies. The group is composed by accomplished entrepreneurs, business leaders, venture capitalists, executives, and investment managers - who share the ethical fiber and commitment that is the hallmark of Delphis Capital.

Team

Patrick Arippol - Managing Director
Patrick Arippol is Managing Partner of Delphis Capital, where he leads the firm’s acquisition sourcing, negotiation, and portfolio company management activities. He spent his entire career building companies and driving double-digit growth within private businesses—by bringing information management, new business development, and operational best practices to them. Patrick has built a distinctive track record of success by consistently placing people as his top priority and most valuable asset. Before forming Delphis Capital, Patrick worked for entrepreneurial thought leaders at the Stanford Graduate School of Business. Previously, he founded and built a California-based financial processing company that acquired customers through a proprietary network of retailers. Earlier, he consulted for Silicon Valley technology companies, leading a troubled company’s board of directors to a successful exit (IBM), and empowering senior managers with actionable metrics from scattered internal systems.

Starting in 1999, Patrick co-founded and managed the operation of the first successful TPA (third party administrator) of healthcare authorization services in Brazil, after integrating 3 acquired companies and connecting 10 HMOs with 350 healthcare providers. Patrick began his career by managing IT-enabled process reengineering projects with Seer Technologies (Cary, NC) and strategy consulting projects at Monitor Company (Cambridge, MA). He managed teams of 2-20 in the healthcare, financial and IT-enabled service industries, rapidly reaching senior management positions at both companies. Patrick earned a BS in Engineering from the University of Pennsylvania and an MBA degree from the Stanford Graduate School of Business. He currently serves on the board of a strategy consultancy company and a family-owned manufacturer of packaging solutions.
Close

Miguel Carmona - Limited Partner
Miguel Carmona is a founding partner of Aurora Ventures—an European-based venture capital firm investing in technologies that can be easily transferred to developing countries—and of multi-strategy hedge funds Cosmos Capital and Safira Capital. He is also a director of the Petra Opportunity Fund, and serves on the Board of Bionnovation Biomedical, CVDentus and Woohoo Action Sports Channel. Miguel was also a Board member at medical device company Mediabolic and offshore debt collection company Riscuity. Previously, he was Senior Advisor to the United Nations and European Union development operations in Eastern Africa. Earlier, he managed Business Development in Asia Pacific for Global One Telecom and was Business Affairs Supervisor for News Corporation's, STAR TV. He graduated cum laude from Tufts University with a Bachelor of Arts Degree in International Relations and Spanish Literature.
Close

Tom Cassutt - Limited Partner
Tom Cassutt is the Co-President of Nelson Nameplate, a rapid prototyping and engineering support company based in Los Angeles, California. Prior to joining Nelson, Tom functioned as the Controller of Bristol Corporation from 1978-1984. He currently sits on the board of American Security Products and Columbia Sanitary Products. Tom received his Bachelors degree in Physics from the University of California, Irvine and his M.B.A. from Stanford University’s Graduate School of Business.
Close

David J. Hengen - Limited Partner
David Hengen is the founder of Hengen Capital LLC, a Nebraska-based private equity fund focused on small-cap investments. Previously, he worked as a practicing transactional attorney with Dechert LLP, a large New York law firm where he obtained extensive experience representing private equity funds on the buy and sell-side of various mid-cap and family-owned companies. David holds a law degree from Harvard Law School.
Close

David Lazier - Limited Partner
Dave Lazier is the Co-President of Nelson Nameplate, a rapid prototyping and engineering support company based in Los Angeles, California. Prior to joining Nelson, Dave functioned as an Engineer with IBM Corporation from 1982-1984. He is currently on the board of American Security Products, Columbia Sanitary Products, Glendale Memorial Hospital Foundation and the San Gabriel Valley Habitat for Humanity. Dave received his Bachelors degree in Industrial Engineering from Northwestern University.
Close

Joseph E. Mullin - Limited Partner
Joseph Mullin is Assistant Vice President at WL Ross & Co. LLC, a principal investment firm based in New York City, specializing in restructurings, buyouts, and industry consolidations. Earlier, he worked in Latin America on private equity and distressed investments. He also worked at Goldman, Sachs & Co. for the FICC and Investment Banking divisions. He has an A.B. from Harvard College and was a Sheldon Fellow.
Close

Michael O'Connell - Limited Partner
Michael O'Connell is currently the Managing Director at M2O Investments - a family investment fund. He was formerly the Managing Director and President of Anhalt, O'Connell & Steffanci, Inc., an investment management firm specializing in debt securities with $1 billion under management. Previously, Michael owned and operated the National Lines Bureau, a ship mooring company for the Los Angeles and Long Beach Harbors. Michael is currently an investor in over 20 private companies. He received his BA, with high honors, from Harvard College, and his MBA from Harvard Business School.
Close

Bob Oster - Limited Partner
Bob Oster started his career as a professional economist and corporate banker with Bank of America in 1967. He then moved on to positions in corporate finance with a number of Bay Area companies. In 1983, he joined Oracle Corporation as Vice President-Finance and Administration and was responsible for Oracle's initial public offering in 1986. Since 1987, he has been a private venture investor working with other private and institutional investors in all phases of the venture investing process from incubation and due diligence through building the management team and sale or initial public offering. Bob Oster was a founding investor and special advisor to Informatica, Inc. (INFA), a provider of analytic applications and infrastructure software. He is currently a director of Carillon Partners, LLP, Raleigh, NC, a private assisted living company; iNET Interactive, Dayton, OH, a private internet advertising company; Wind River Environmental, Boston, MA, a private LBO roll-up in the non-hazardous liquid waste industry. He received a Bachelors degree in Economics with honors from Occidental College in 1963 and an M.A. and Ph.D. in economics from the University of California, Berkeley in 1965 and 1967, respectively.
Close

Rafael Somoza - Limited Partner
Rafael Somoza most recently was the Co-Founder and CEO of VIU Media, Puerto Rico's largest locally-owned outdoor advertising company, which was sold to Lamar Advertising. Prior to becoming CEO of VIU Media, he was the Co-Founder and CEO of Quest Management Corporation, a private equity group formed to identify, acquire, and operate a company in Puerto Rico. Previously, Rafael worked at CS First Boston, where he was involved in structuring over $1.2 billion in financings. He received the 2004 E&Y Entrepreneur of the Year Award for Puerto Rico, and currently sits on the board of the Puerto Rico Convention Bureau and EM Assist, LLC. Rafael graduated magna cum laude, with a B.A. in Economics and Political Science, from Yale University and holds an MBA from Stanford's Graduate School of Business.
Close

Jose Stella - Limited Partner
Jose Stella most recently was the Co-Founder and President of VIU Media, Puerto Rico's largest locally-owned outdoor advertising company, which was sold to Lamar Advertising. Prior to becoming President of VIU Media, he was the Co-Founder and President of Quest Management Corporation, a private equity group formed to identify, acquire, and operate a company in Puerto Rico. Previously, Jose worked at KPMG Peat Marwick in the middle-market Mergers & Acquisitions Advisory Group. He also worked for UBS and Chase Manhattan Bank and received the 2004 Ernst & Young Entrepreneur of the Year Award for Puerto Rico. Currently he serves as a director of Rocket Learning, LLC and Centros Sor Isolina Ferré, the largest Puerto Rico based not-for-profit organization. Jose graduated with high honors, with a B.A. in Economics, Finance and Investments from Babson College and graduated cum laude with an MBA from The University of Michigan.
Close

Howard H. Stevenson - Limited Partner
Professor Howard H. Stevenson is the Vice Provost for Harvard University. He is also the Sarofim-Rock Professor of Business Administration and has served as Senior Associate Dean, Director of External Relations at Harvard Business School. He has authored, co-authored, or edited nine books, forty-one articles, and over one-hundred-fifty Harvard Business School case studies. Professor Stevenson was a founder and the first president of the Baupost Group, Inc., a $5.5 billion investment management firm that manages partnerships investing in liquid securities, which he grew to over $400 Million in assets while president. Professor Stevenson is an investor and board member in numerous private and public companies. He received his Bachelors degree in Mathematics, with distinction, from Stanford University and his M.B.A., with high distinction, and D.B.A. degrees from Harvard Business School.
Close

William E. Stevenson - Limited Partner
William Stevenson is the Director of Product Management for Building Engines, Inc., a facilities management solution provider. Prior to joining Building Engines he was a partner at a boutique commercial real estate firm in Boston, helping to acquire and manage commercial real estate assets in the Northeast. In addition, Will has 8 years of software product management and marketing experience ranging from angel funded startups to publicly traded software firms. Will holds an MBA from Babson College, a Masters from Yale University and a BS from Union College.
Close

William N. Thorndike - Limited Partner
William Thorndike is Managing General Partner of Housatonic Partners, a private equity investment firm that he co-founded in 1994. He is a graduate of Harvard College and the Stanford Graduate School of Business. William is a Director of Access Information Management; Alta Colleges; Continental Fire & Safety Services, LLC; Carillon Assisted Living, LLC; Rapid Communications, LLC; and a Trustee of Groton School, The Boston Athenaeum, and The College of the Atlantic.
Close

Institutional Investors

The Cambria Group
www.cambriagroup.com
The Cambria Group is a private equity firm which acquires and invests in small and mid-sized businesses across a wide range of industries and geographies. We seek sound businesses with established operating histories, rather than startups and turnarounds. Our principals bring a blend of operating and finance experience and will work closely in each situation with entrepreneurial management both to build the enterprises they run and to increase the value of those businesses. Cambria focuses on quality businesses with revenues of under $50 million and valuations of under $25 million, investing across a wide range of industries, including the low-tech manufacturing, distribution and service sectors. Cambria considers a variety of transaction types as well, from outright acquisitions to growth equity financings.
Close

Housatonic Partners
www.housatonicpartners.com
Housatonic Partners is a private equity investment firm founded in 1994 with over $600 million in capital under management. We invest in growing, profitable companies in the recurring services, media and communications industries. We have partnered with exceptional management teams in more than fifty small to mid-sized companies in these industries over the last thirteen years
Close



We are the professionals of Delphis Capital. We look forward to working with you.