Position Paper
How Growth Capital Differs From Private Equity and Agencies
June 2, 2026
A structural comparison of equity purchase, service-for-fee, and Growth Capital allocation - and why the third model produces different incentives.
Private equity buys ownership. Agencies sell hours. Growth Capital deploys capital tied to attributable revenue.
The incentive structure matters. When a PE fund controls the company, decisions optimize for exit multiples. When an agency bills for services, decisions optimize for scoped deliverables. When Growth Capital receives royalty on the revenue it helped create, decisions optimize for the revenue itself. Uru Growth Capital is built around that third alignment.