About

Who we are.

PROX is an equity investment firm focused on lower middle market acquisitions, bringing an operator’s perspective and a practical understanding of transactions.

Our Story

Built from a holding company, not a spreadsheet.

PROX Search Capital was built off a foundation of PROX Capital Group, a holding company with nine acquisitions. Adam Markley, the founder of PROX, wanted to increase his reach and be more involved with more deals, which is how PROX Search Capital began.

Fund I, a $10M fund launched in 2025, is focused on investing in stable lower middle market businesses alongside independent sponsors.

The PROX team working through a purchase process on a whiteboard

Built by Operators

We have sat on both sides of the table.

We have run businesses, managed teams, owned P&Ls, worked through transactions, and dealt with the realities that come after closing.

Operating
We have run the businesses

We have managed teams, owned P&Ls, and lived with the consequences of our own decisions.
Transactions
We have closed the deals

We have worked through many transactions and the realities that come to actually close a deal.
Investing
We have written the checks

We invest as well as operate, so we understand what makes a business excel and what makes one dwindle.

Our Team

The people who will underwrite your deal.

Adam Markley

Managing Partner

Adam has spent more than a decade in financial strategy, M&A, and small business operations. He founded PROX Capital Group, the holding company behind the fund, which has completed nine acquisitions. He has advised more than 500 businesses on transactions and financial strategy, signed personal guarantees, and closed deals himself, so he knows how a capital stack behaves when the projections meet the first year of ownership. He has also launched and acquired companies of his own, including a deal sourcing business and a fractional CFO firm. Adam founded ETA Meetups in Denver and Baltimore, now with more than 2,500 members, co-founded the Rocky Mountain ETA Conference, and guest lectures at CU Boulder’s ETA MBA course.

Peggy Fasano

Managing Partner

Peggy has done the work she underwrites. She and a partner acquired a business and doubled its revenue and EBITDA in two years, and she has built new business lines inside small companies from a standing start. Her focus is the operating plan behind the model: whether the growth assumptions have a mechanism, whether the team can carry them, and what the first eighteen months after closing actually require. Before investing she was a Deloitte consultant focused on post-M&A transitions and program management, which is the part of a deal most models skip. She has advised dozens of companies on operating practice and product development, and her background spans consulting, investing, and engineering. Peggy holds an MBA from CU Boulder and a B.S. in Mechanical Engineering from Tufts University.

Eliza Grace

Managing Director

Eliza brings eight years of investment experience and a builder’s instinct for what a small company can absorb. While at Duke she founded a nonprofit and scaled it to seven employees, then worked across marketing, operations, and fieldwork inside high-growth startups. That combination shapes how she reads a deal: where the demand really comes from, what the go-to-market claim rests on, and whether the organization can execute it. She earned an MBA and MENV from CU Boulder, where she served as an MBA Alumni Rep and a member of the Deming Center Venture Fund. Eliza works closely with sponsors through underwriting and stays a useful call after close.

Want to talk before you have a deal?

We are happy to be a sounding board on structure, market pricing, or what we are seeing in a sector.

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