BDT & MSD Partners
VC Fund
Chicago, United States
BDT & MSD Partners is a merchant bank and private markets investment platform for long-term strategic investors. Formed in 2023 through the combination of BDT & Company and MSD Partners, the firm invests across private capital, private credit, and real estate strategies, supported by a relationship-led sourcing model rooted in longstanding engagement with founders, family business owners, and closely held companies. BDT & MSD seeks to create enduring value through aligned capital, disciplined underwriting, downside protection, and a long-term investment approach.
- Total investments:
- 55
- Last investment:
- Lead investor:
- 51%
- Fund size:
- $14B
- Last fund:
Last updated:
For AI agents: llms.txt
Industries BDT & MSD Partners invests in
Stages BDT & MSD Partners invests in
Countries BDT & MSD Partners invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
| See all 6 contacts → | |||
Round size
- Series D
- $125M–$16B
- Debt Financing
- $86M–$650M
- Private Equity
- $74M–$3.5B
Investment Focus
Industry
- Software 8 (15%)
- Manufacturing 7 (13%)
- SaaS 6 (11%)
- Health Care 5 (9%)
- Artificial Intelligence 5 (9%)
Stage
- Private Equity 14 (25%)
- Debt Financing 7 (13%)
- Series D 5 (9%)
- Venture - Series Unknown 4 (7%)
- Series C 3 (5%)
Country
- United States 34 (62%)
- United Kingdom 3 (5%)
- Israel 2 (4%)
- Germany 2 (4%)
- Italy 1 (2%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Gregg Lemkau
Co-CEO
|
Co-CEO | Total investments: 7 | Find email | |
Byron Trott
Founder & CEO
|
Founder & CEO | Total investments: 11 | Find email | |
Charles Sun
Vice President
|
Vice President | Total investments: 0 | Find email | |
|
Henry Yeagley
Partner
|
Partner | Total investments: 2 | Find email | |
| COO | Total investments: 0 | Find email | ||
| See all 6 team members → | ||||
Investments
| Company | Description | Round | Links |
|---|---|---|---|
| Research Lab. Exploring new frontiers of voice generation. We are researching and deploying novel methods in voice AI to make content enjoyable in any language and voice to benefit new audiences and viewers. Our mission is to make content universally accessible in any language & voice. | $300M / Secondary Market / Sep 30, 2026 | ||
| Crusoe is on a mission to help the oil industry reduce routine flaring of natural gas. They are passionate about creating solutions that benefit the environment, local communities, and energy producers.Crusoe Energy Systems provides oil and gas companies with a fast, low cost and simple solution to natural gas flaring. As the energy industrystruggles with pipeline constraints and increasing regulations around flaring and combusting, Crusoe is here to help. Their service lets operators preserve or regain regulatory compliance, maintain existing production and facilitate future development. | $3.9B / Series F / Sep 03, 2026 | ||
| NinjaOne automates the hardest parts of IT, empowering more than 17,000 IT teams with visibility, security, and control over all endpoints. The NinjaOne platform is proven to increase productivity while reducing risk and IT costs. | $400M / Series C / Jun 09, 2026 | ||
| Beacon Software acquires and supports software businesses, focusing on companies that serve established market niches and have demonstrated customer retention and operational stability. The company operates as a long-term holding organization, providing portfolio companies with operational support across areas such as engineering, artificialintelligence, sales, marketing, fintech, and business operations. Its model emphasizes maintaining the existing culture, customer relationships, and day-to-day autonomy of the businesses it acquires while helping them improve processes and scale sustainably. Beacon also offers shared resources, advisory expertise, and operational partners who work closely with management teams to address technical and organizational challenges. Through its platform, the company seeks to help software businesses strengthen their operations, develop products, and pursue long-term growth. | $225M / Series C / Jun 09, 2026 | ||
| Speed Bay provides shallow bay industrial real estate focused on warehouse and light industrial needs of small and mid-sized businesses. The company offers units combining warehouse and office space in a range of sizes to support operations and future expansion. Its properties are located near major urban hubs and transportation routes to supportlast‑mile logistics and regional distribution. Speed Bay structures leases to provide agility as customer requirements change over time. Customers manage payments, maintenance requests, and lease renewals through a dedicated app for added convenience. The firm also operates and manages multi-building industrial parks, standardizing features like dock-high and ground-level doors across suites. | $350M / Private Equity / Jun 03, 2026 | ||
| ECOncrete technology provides sustainable solutions for construction of ecologically active infrastructures, in the coastal and marine environment as well as other urban landscapes. The Company develops, produces and supports implementation of innovative concrete products designed for enhancing the biological and ecological value of coastal andmarine infrastructures. ECOncrete's unique biological traits encourage biogenic buildup. They also provide substantial structural and economic advantages in terms of increased stability and longevity, as well as a reduction in maintenance costs. | $14M / Venture - Series Unknown / May 11, 2026 | ||
| Mark IV Capital is a company which develop, acquire, own, and manage properties and provider for all the needs of tenants. | $86M / Debt Financing / Feb 03, 2026 | ||
| Waymo stands for a new way forward in mobility. it is a self-driving technology company with a mission to make it safe and easy for people and things to move around.Waymo improves transportation by building software and sensor technology developed in Google’s labs since 2009. In October 2015, they achieved the world’s first fully self-drivingtrip on public roads, in a car without a steering wheel or pedals. They refine Waymo technology through one billion miles of simulation testing each year, and the cars have self-driven over two million miles on public roads across four U.S. cities.It was founded in 2009 and is located in Mountain View, California. | $16B / Series D / Feb 02, 2026 | ||
| The Allen Morris is a commercial real estate firm that offers property management and property development services. | $138.5M / Debt Financing / Dec 03, 2025 | ||
| Skims is a solutions-oriented brand creating the next generation of underwear, loungewear, and shapewear.The company manufactures and retails undergarments and loungewear designed to enhance the body shape. It offers a wide range of products including bodysuits, shapewear, and underwear that feature styles and color shades for different bodytypes, providing women with the right support and coverage.Jens Grede and Kimberly Kardashian West co-founded SKIMS in Culver City, California in 2019. | $262M / Series D / Nov 12, 2025 | ||
| See all 55 investments → | |||
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FAQ
What does BDT & MSD Partners invest in?
BDT & MSD Partners invests primarily in Software, Manufacturing and SaaS startups, most often at Private Equity and Debt Financing stage. Most of the 55 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What round sizes does BDT & MSD Partners invest in?
BDT & MSD Partners typically joins rounds of $125M–$16B at Series D, $86M–$650M at Debt Financing and $74M–$3.5B at Private Equity. These are whole funding-round sizes, not BDT & MSD Partners's own check, which is rarely disclosed: the 10th–90th percentile of the confirmed public funding rounds BDT & MSD Partners took part in.
How do I contact BDT & MSD Partners?
Public channels for BDT & MSD Partners include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at BDT & MSD Partners?
The team at BDT & MSD Partners includes Gregg Lemkau (Co-CEO), Byron Trott (Founder & CEO) and Charles Sun (Vice President), among 6 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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