Lead Left Interview – Doug Cruikshank & Rafael Castro

This week we speak with Doug Cruikshank, Managing Partner and Rafael Castro, Director, Enhanced Capital. Enhanced Capital is a small business investment firm focused on established lower middle market companies often overlooked by traditional sources of capital due to location or size.

The Lead Left: Gents, not many people may have heard of Enhanced Capital, but you’ve actually been around for a while. Tell us a bit about the history of the company.

Doug Cruikshank: Thanks, Randy. Our firm was started in 1999 by Andy Paul, a former managing partner at Welsh Carson. His practice was primarily healthcare, and he invested $2 billion of capital during his time there. He left Welsh Carson and founded the Enhanced Equity Fund with $200 million.

Rafael Castro: Andy’s focus again was healthcare, but more on lower middle market transactions. That first fund was separate from Enhanced Capital which is our lending fund.

TLL: I see from your website you’ve grown considerably in terms of your national presence since then.

DC: Yes we have offices in sixteen states.