A Veteran-Owned Company Private Investment · Not a Fund
CR 2021 monogram Carmichael & Russ Capital Independent Investment & Advisory

Private by design — Est. 2021

Independent investment.
Flexible structure.
Long-term vision.

We are a private investment firm — not a fund, not bound by rigid mandates. Our independence lets us invest directly, structure creatively, and build for the long term alongside a trusted network of capital and operating partners.

Criteria at a glanceC&R
Platform revenue$5M–$75M
Platform EBITDA$1M–$12M
Add-on revenue$1M+
Add-on EBITDANo minimum

What makes us different

Not a fund. No outside mandate. No exit clock.

Direct

Rather than raising outside funds or managing to preset timelines, we invest directly — and engage accredited investors selectively, case by case.

Partnered

Opportunities come through trusted advisor and client relationships, and we invest alongside a network of capital partners, advisors and operators.

Patient

The model keeps decisions independent and flexible, so every structure is built around long-term value creation instead of a fund's calendar.

Strategies & approach

Six ways we put capital to work.

A disciplined, flexible approach designed to build lasting value across a range of opportunities.

01 — Control

Platform Investments

Control acquisitions of established middle-market businesses with durable demand.

$5–75M revenue · $1–12M EBITDA
02 — Growth

Add-On Investments

Strategic tuck-ins that create scale, expand geography, or add capabilities.

$1M+ revenue · No EBITDA minimum
03 — Minority

Private Placements

Non-control investments in established businesses seeking capital for expansion, acquisitions, or balance sheet optimization.

Alongside founders & management
04 — Debt

Private Credit

Tailored debt solutions for middle-market operators and developers who want growth capital without giving up equity control.

Flexible term & amortization
05 — Real assets

Real Estate Development

Investments in residential, commercial and mixed-use projects with strong fundamentals and lasting value.

Value-add & ground-up
06 — Guidance

Selective Advisory

Select engagements supporting strategic, capital and growth decisions — from capital structure to liquidity options.

Explore advisory →

Investment criteria

Focused on building what comes next.

Owners, intermediaries and operators: if a business fits the profile below, we would like to hear about it. Every conversation is confidential.

Submit an opportunity →
Target profile
Platform Add-on
Revenue $5M – $75M $1M+
EBITDA $1M – $12M No minimum
Position Control Into an existing platform
Rationale Established, durable demand Scale, geography or capability

Industries of focus

Business Services Industrials Healthcare Consumer Real Estate Operators

How we operate

Process, people and partners — over promotional noise.

Process

Disciplined systems outperform circumstance. We weigh long-term compounding over short-term yield, and structure every transaction for durable outcomes and operational stability.

People

Founded on military leadership principles. As a veteran-owned firm we bring precision, accountability and direct operator alignment to every relationship and decision.

Partners

Relationships are our most durable asset. We invest alongside a vetted network of capital partners, advisors and operating executives while keeping decisions independent.

Noah Carmichael, Managing Partner
Service
U.S. Navy, 2001–2006
Education
MBA · Embry-Riddle
Publisher
BEJ Media and MayJay Publishing
Board
Gratitude and Grace Foundation

Leadership

Noah Carmichael

Managing Partner

Service

Navy Air Traffic Controller — #1 in his class at Navy ATC School, certified FAA Facility Watch Supervisor. From 2004–2006 he served as operational liaison between NASA and Navy command in the Indian Ocean / USCENTCOM theater, managing flight safety and recovery protocols for NASA space operations.

Operating

Eight years (2007–2015) in senior sales management at Fortune 500 companies, turning around underperforming teams. He then founded and scaled an award-winning legal marketing platform over seven years and wrote the bestselling A Lawyer's Guide to Marketing.

Credentials

Studied Physics and Professional Aeronautics at Embry-Riddle Aeronautical University; MBA and Management degree. Previously held FINRA Series 6 and 63 licenses.

Reach

Rooted domestically. Connected across six regions.

NA

North America

Core middle-market acquisitions, industrial services, commercial real estate and private credit.

CB

The Caribbean

Hospitality infrastructure, real estate development and cross-border capital partnerships.

AF

Africa

Operating platforms, infrastructure credit and trade-enabling services in regional growth hubs.

EU

Europe & UK

Cross-border advisory, institutional co-investment networks and fintech infrastructure partners.

AP

Asia-Pacific

Supply chain infrastructure, technology services and selective trade credit.

LA

Latin America

Agribusiness logistics, commercial asset portfolios and regional private placements.

Ecosystem

Regulated venues, infrastructure and counsel we work alongside.

Securities transactions are facilitated through unaffiliated, regulated partners. C&R does not act as a broker-dealer, custodian or transfer agent.

Texture Capital
Broker-dealer / ATS
tZERO
Secondary trading
Security Token Advisors
Capital execution
Polymesh
Asset infrastructure
Tangany
Custody
Sumsub
Identity & compliance
Verify Investor
Accreditation
Dwolla
Payment rails
Mercury
Treasury & banking
CMS Law
International counsel
Rudiq
Asset financing
Brickmark X
Real estate structuring

Contact

A conversation could be the start of building what's next.

Business owners, intermediaries, capital partners and advisory clients — tell us a little about what you're working on.

Submissions are confidential. This form is not an offer or solicitation.