Phil Frost
LinkedIn Copy
Hey Phil — interesting background, both ended up in the PE/acquisition world from different directions. been thinking a lot about origination in the agency M&A space lately. would be good to connect.
Hey Phil, we both ended up in the deal world from different angles — I came through banking at CS & Greenhill in London into growth equity, different from the agency operator path you took. origination was always the same story for me — clear thesis, decent relationships, but no proprietary system of record tying anything together. every deal virtually sourced from scratch, nothing compounding over time. curious if that's still how most funds operate or if I'm behind the times? — Russ
Hey Phil, interesting path — we both ended up doing deals, though I was in London doing growth equity at Treis not in NYC acquiring digital agencies like you. the pattern I keep seeing with most funds is weirdly consistent — strong thesis, solid network, but no proprietary system of record. the people, tools and ideas are never really connected. every deal virtually sourced from scratch, nothing compounds on itself. curious if that resonates or if you've built something different at Agency Capital Partners? — Russ
hey Phil — no worries if the timing's off. most funds I talk to have tried some version of building origination in-house — analyst pulling from databases, maybe some automation layered on top, dumping it into a spreadsheet. each piece kind of works, but there's no system of record tying it together. the people, tools and ideas are all disconnected, so there's tonnes of wasted energy and everything ends up out of sync. been helping a few funds like Mentmore Capital work through that. curious if you've run into the same thing at ACP? — Russ
totally get it if origination infrastructure isn't top of mind right now — especially when you're actively integrating agencies into the MSAP ecosystem. the funds I've seen crack it early just tend to compound deal flow in a way that's hard to replicate later. if it ever moves up the list, I'm easy to find. — Russ
Email Copy
No email copy generated yet.
Prospect Research
## PROSPECT INFORMATION: Name: Phil Frost Title: Co-Founder & Managing Partner Fund: Agency Capital Partners Background: Name: Phil Frost Current Focus: Phil is the Founder and CEO of Main Street ROI, a digital marketing agency focused on helping small businesses through training and services. In 2025, he co-founded Agency Capital Partners (ACP) to provide acquisition and exit solutions specifically for six-figure digital marketing agencies, a segment often overlooked by traditional brokers. His current content focus is heavily centered on helping business owners navigate the 2026 digital landscape, particularly regarding Meta Ads, Google Ads congruence, and AI video production. Background: An experienced entrepreneur and marketer based in New York, Phil has a technical background with a Master of Engineering Management (MEM) and a BA/BE in Engineering from Dartmouth College. Before founding Main Street ROI in 2010, he managed significant affiliate marketing budgets at The Kisco Group and led lead generation campaigns at Growthink. He is also a former college football player. Key Skills: Digital Marketing Strategy, Google Ads (PPC/SEM), Search Engine Optimization (SEO), Meta Ads (Facebook/Instagram), Conversion Rate Optimization (CRO), Customer Lifecycle Marketing, and AI-driven content workflows. Recent Post Insights and Quotes: March 12, 2026: Discussed common objections to Google Ads, noting: "Google Ads is not automatically good or bad. It’s just a tool. And like any tool, results depend on how you use it, what you measure, and what you expect in return." March 9, 2026: Shared CRO tips, emphasizing: "Focus on their problem, not your history. Your homepage should quickly answer one question. Can you help me? Company backstory belongs on the About page. Lead with outcomes." March 6, 2026: On the shift in Meta advertising: "Facebook Ads don’t fail because targeting is broken. They fail because the message shows up at the wrong time... success comes down to matching your message to where someone is in the buying journey." March 5, 2026: Criticized "busy" marketing efforts: "Too many businesses think they are testing multiple marketing tactics, but what they are really doing is throwing 'uncooked spaghetti' against the wall." February 27, 2026: Defined the concept of "Campaign Tunnel Vision" in Google Ads: "The fix is congruence. When the keyword, ad, landing page, and follow up all reinforce the same message, performance improves fast." February 23, 2026: Explained the compounding effect of business levers: "Revenue growth is not just about getting more traffic. It’s an equation: Traffic × Conversion × Customer Value... When you improve each area even a little, the results compound." February 9, 2026: Warned against spreading budgets too thin: "On paper, $50 a day sounds fine. In reality, high costs per click can leave you with two clicks a day and zero useful data. No data means no learning." January 12, 2026: Highlighted technical SEO failures: "If your technical SEO foundation is cracked, you are essentially building a billboard in a basement. It doesn't matter how beautiful it is; nobody can see it." Fund details: - Description: Agency Capital Partners was founded by Phil Frost and Pete Kennedy, co-founders of Main Street ROI, a digital marketing agency serving small business clients and agency partners since 2010. We created ACP to give six-figure agencies a clear path to exit. Traditional buyers and brokers often overlook smaller agencies, leaving many founders without a clear exit path. Six-figure agency owners face several challenges when seeking to sell: * Financing Gap: Banks rarely finance deals under $300K * Risk Perception: Acquirers view owner-dependent firms as too risky * Broker Barrier: Many brokers focus on agencies over $1M, which leaves smaller firms with fewer options ACP fills the six-figure M&A gap with flexible acquisition options designed specifically for agency owners like you. ACP is one of three businesses in the Main Street Agency Family, all working together to support small businesses and agencies across every stage of growth: 1. Main Street ROI provides digital marketing services directly to small businesses. 2. Main Street Agency Partners (MSAP) empowers agencies with a fully integrated white-label solution. 3. Agency Capital Partners acquires digital marketing agencies from owners looking to exit, then integrates them into the MSAP ecosystem. Together, we’ve built a complete marketing ecosystem that helps small businesses grow, agencies scale, and agency owners exit with confidence. - Website: https://agencycapitalpartners.com - Location: Melville, New York, United States - Lead qualification: Research: - Query: =Agency Capital Partners Phil Frost recent investments fund thesis - Answer: Agency Capital Partners' recent investments focus on improving data systems and software automation for nonprofits. Phil Frost's investment in Eloxx Pharmaceuticals aligns with his interest in drug discovery. The Agency Fund's thesis emphasizes empowering human potential through agency-focused support.