Neal Doshi
LinkedIn Copy
Hey Neal — congrats on launching Forged Capital. came from a similar background (IB → growth equity) and been thinking a lot about essential services origination. would be good to connect.
Hey Neal, similar PE background though I came through banking at CS & Greenhill in London rather than the healthcare and venture side like you. origination was always the same story for me — clear thesis, decent relationships, but no proprietary system of record. the people, tools and ideas were never really connected. 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 Neal, looks like we share a similar PE background, though I was in London doing growth equity deals at Treis not in Michigan partnering with founder-led services businesses 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 Forged? — Russ
hey Neal — no worries if the timing's off. most funds I talk to have tried some version of building origination in-house — analyst pulling from Pitchbook or Grata, maybe using ChatGPT to help qualify, 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 work through that. curious if you've run into the same thing at Forged? — Russ
totally get it if origination infrastructure isn't top of mind right now — most funds have 10 things ahead of it on the priority list. 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: Neal Doshi Title: Managing Partner Fund: Forged Capital Background: PROSPECT SUMMARY: Neal Doshi CURRENT FOCUS: Neal is currently the Managing Partner at Forged Capital (since January 2025), a private equity firm based in Michigan. His primary focus for 2026 is executing investment mandates for founder and family-owned businesses in essential services and skilled trades. He targets lower-middle market companies with $2 million+ EBITDA and prefers majority control investments. He also serves as an advisor to Corvus Link, an AI-powered business growth tool, and is a member of the Board of Directors for Valley Vital Care. BACKGROUND: Neal is a highly credentialed executive with an MBA from Duke (Fuqua), an MS in Healthcare Administration from UNC Chapel Hill, and an MS in Medical Sciences from Wayne State. He has a cross-industry background spanning private equity, healthcare, IT, and venture capital. Notable previous roles include Partner at Darshan Capital, President of M Cubed Capital Partners, and COO of CDP. He has significant experience in M&A, having acquired and sold $140M in commercial real estate and tech-enabled businesses. He is also active in the community, serving on the Michigan State Museum Director's Council. KEY SKILLS: Private Equity Investment, Growth Strategy, Operational Excellence, M&A Integration, Strategic Planning, Stakeholder Engagement, Business Transformation, and Product Development. RECENT POSTS & QUOTES: - January 21, 2026: "We are actively pursuing 2026 mandates in essential services and skilled trades. We target founder and family owned businesses with $2 million plus of EBITDA and prefer majority control investments across the United States." - January 13, 2026: "As former operators and children of entrepreneurs, Forged is committed to partnering with and growing founder‑ and family‑owned businesses. With more than 50 years of combined operational and private equity experience, we bring a unique skill set tailored to scaling lower‑middle‑market companies." - October 2, 2025: "I want to thank Joe Zanca from DealGen Partners for hosting me on their podcast... For those of you interested in viewing the podcast, please click on https://lnkd.in/gp8B635M." - July 7, 2025: Direct quote from a featured video/post titled "Pushed Out by Anchor Investor | Neal Doshi of Forged Capital" shared after appearing on the Minds Capital podcast with Niklas James. - November 13, 2024: "Imagine having a Strategic Consultant at your fingertip." (Referring to his advisory role at Corvus Link). - June 24, 2024: "I’m happy to share that I’m starting a new position as Michigan State Museum Director's Council Member at Michigan State University!" - March 29, 2024: "Darshan Capital is honored to be on Axial's 2024 Technology Top 50 List. We want to express our gratitude to Kristina Mayne for thinking of us!" - February 12, 2016: "People don't resign because of the organization. People resigned because of their bosses... I couldn't agree more. take sports for example, players love playing for their coach; their leader. Same can be said about business." Fund details: - Description: Forged Capital, LLC is a private equity group that partners with founder-led businesses in the lower middle market. We combine over 40 years of hands-on operating and private equity experience to help founder-led companies scale to their next chapter while protecting the culture and legacy that made them special in the first place. We focus on strong, essential service businesses where careful execution, modern systems, and practical AI tools improve efficiency without replacing people and where smart capital drives lasting, compounding growth. We usually invest in companies with $2 million to $20 million in EBITDA and revenue between $5 million and $100 million. Our team has four decades of experience in operating and investing across various sectors, including business and industrial services, field operations and infrastructure support, specialized consumer and food systems, and technical services. We have invested through different market conditions and built successful business models, from shop-floor operations to boardroom strategies. Beyond providing capital, we offer clarity. We listen first, act quickly and respectfully, and work on five-year plans that aim for significant increases in revenue and EBITDA. After closing a deal, we support management in whatever way is needed, whether that’s offering board-level advice, helping with specific business developments, or taking on leadership roles to stabilize and speed up growth. If you lead a strong, essential-services business and want a partner who will help protect the legacy you’ve built while expanding what works, let’s connect. Visit us at www.forgedca.com to learn more and connect with our team. - Website: https://forgedca.com/ - Location: Birmingham, Michigan, United States - Lead qualification: Research: - Query: =Forged Capital Neal Doshi recent investments fund thesis - Answer: Neal Doshi's Forged Capital focuses on operational value creation in "B assets," and recently acquired Capital Now to expand its services. The firm screens many deals but closes few, targeting companies with fixable gaps.