Virent Capital makes first platform investment in Kanahoma

Virent Capital, a Radnor, Pennsylvania-based private equity firm focused on founder-led lower middle-market businesses, has made its first platform investment, in Kanahoma, a higher education marketing and enrollment services company. Financial terms were not disclosed. Kanahoma's management team will retain a meaningful ownership stake and continue to run the business alongside Virent.

Kanahoma founder and CEO Seth Odell will keep leading the company, and Chip Paucek, co-founder and former CEO of 2U, has joined its board as co-chairman. Virent said it plans to build Kanahoma from a marketing agency into a full-service enrollment growth partner, adding capabilities through organic investment and acquisitions, supported by its in-house digital lab, Virent Drive.

Salem Investment Partners provided debt financing and co-invested in the transaction. Garnet Partners advised Kanahoma as exclusive financial adviser, with Lippes Mathias as its legal counsel; Troutman Pepper Locke advised Virent. Kanahoma, founded in 2020, has nearly 50 employees and works with more than 20 institutions.