Summary: Permanent Equity raises minimum profit criteria

Why It Matters: The firm is now targeting larger companies. By raising their entry point for growing businesses, they are leaving a gap for smaller deals that they previously would have considered.

What Changed:

• Increased the minimum net profit for growing businesses from $1 million to $2 million.
• Released the 2025 Annual Letter titled "Steady Progress and Self-Reflection."
• Added a new "On Board Opportunities" link to the connect menu.
• Changed the primary investment contact from Emily Holdman to Danny Gray.
• Updated the copyright year to 2026.