TEEDUP had a clear view of what it did not want to become.

Adam saw traditional private equity as too opaque for the investor experience TEEDUP wanted to create. Capital could remain committed for five to seven years while the fund manager controlled the underlying allocations and investors relied largely on periodic reporting.

He described it as a “black box.”

TEEDUP wanted investors to have greater visibility into opportunities and more control over where their capital was allocated.
SPVs preserved that choice but introduced another problem.
Each acquisition could require another entity, another round of legal work, and tens of thousands of dollars in setup costs.

TEEDUP needed a middle ground: the investor choice of adeal-by-deal model without rebuilding the fund infrastructure for every deal.

When TEEDUP joined Avestor, the core appeal was investor-level allocation control inside one umbrella fund.

Instead of requiring every investor to participate in every opportunity, TEEDUP could bring multiple deals under the same fund while allowing investors to select their allocations. The structure also gave TEEDUP flexibility around deal disclosures, fees, and waterfalls.

Over time, that value expanded.

Avestor introduced continuous offering capabilities that helped TEEDUP manage investor entry and liquidity more efficiently, while its team also became a resource for increasingly complex structuring needs.

With the continuous offering feature, the Customizable Fund® offers investors more control over their allocation and liquidity. With traditional funds, investors are at the mercy of the fund manager for when they can sell their investments. With the Customizable Fund®, investors are able to make the financial decisions that are right for their unique situation.

Customer Service: A True Partner

Adam compared his customer service experience with previous providers that were often difficult to reach:

“You never feel like you’re out on an island with Avestor.”

“The Avestor support line actually works and resolves issues speedily. The team will follow-up with you to resolve issues that need to be addressed.”

The result was a structure that more closely matched how TEEDUP wanted to operate: more investor choice, more flexibility for the fund, and less repeated friction around each acquisition.

Implementation: Turning the First Deal into an Operating Playbook

TEEDUP’s first acquisition completed through Avestor closed in December 2024: a general contractor and remodeler in the home-services space.

The seller remained involved after the acquisition,aligning with TEEDUP’s preference for continuity and long-term ownership.

Adam describes that philosophy this way:

“If we can’t foresee a path for 20 years, we’re not going to be in it for two days.”

The first year also tested the model.

Sales declined roughly 8%, but profitability increased.TEEDUP added skilled operators, opened a new location, and strengthened the business for future acquisitions.

The deal also exposed a financing lesson. TEEDUP had not secured a line of credit at closing, and the combined demands of acquisition debt, distributions, and expansion created tighter liquidity than expected.

That experience changed the playbook for later acquisitions: secure sufficient financing early, build operating capacity ahead of growth, and underwrite with a long-term horizon.

As TEEDUP completed more acquisitions, the transaction process became increasingly routine.

Adam pointed to later deals in May and October 2025 that stood out precisely because the platform side of the closing had become relatively uneventful.

The bigger story, however, was happening inside the portfolio.

One follow-on acquisition paired a business with strong demand but limited production capacity with TEEDUP’s existing general contractor, which had skilled labor and project-management bandwidth.

TEEDUP normally looks for one win within the first 30 days after an acquisition to set the momentum for the new chapter.

This combination produced six such wins in the first 30 days.

An October 2025 acquisition became another proof point. Under TEEDUP’s operating team, the company quadrupled EBITDA and nearly 5X’d it within its first year.

Avestor did not create that operating performance. TEEDUP’s team did. Avestor’s role was supporting the fund and transaction infrastructure around an increasingly active acquisition strategy.

That distinction is exactly the point: the infrastructure was becoming something TEEDUP could rely on rather than something the team had to work around.

Conclusion: Building Toward 100 Companies

TEEDUP’s ambitions extend well beyond its current portfolio.

Over the next seven years, the fund has set a goal of growing through the acquisition of 100 lower-middle-market companies, many of them decades-old businesses transitioning beyond family ownership for the first time.

The goal is not simply to accumulate companies. TEEDUP wants to preserve what already works, honor the legacy behind those businesses, and create an ecosystem where complementary companies and strong operators can grow together.

Adam summarizes the broader vision this way:

“I’m excited tomake investing in your neighbor as common as investing in the S&P 500.”

For TEEDUP, the next phase is about scaling that model without losing the investor choice and long-term operating philosophy it was built around.

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