Capital, Powered by Infrastructure
Carousel Capital is a technology-enabled private credit platform originating and allocating capital into structured SME financing opportunities.
Investment Strategy
Disciplined capital deployment across defined SME credit segments.
Target Borrowers
Cash-flow positive Canadian SMEs operating in defined industry verticals.
Structured Business Credit
Capital deployed through structured SME credit opportunities with clearly defined terms and repayment mechanics.
Data-Driven Underwriting
Underwriting based on standardized cash-flow analysis and consistent risk evaluation across opportunities.
Diversified Portfolio Construction
Portfolio construction guided by defined exposure limits and balanced allocation across industries and borrower segments.
Platform Metrics
Key indicators of capital deployment, portfolio scale, and operating track record.
$130 M
Historical Loan Originations
(Originated via Capital Lynk)
Capital Lynk operates under common ownership with Carousel Capital. Historical originations represent operating track record and are separate from current fund assets.
5000+
Businesses Funded
• Diverse industry exposure
• Repeat borrower base
• Established origination channels
The SME Credit Opportunity
Targeting fragmented and underserved segments of the SME lending market.
1.2M+
Small & Medium Businesses in Canada
$500B+
Estimated Canadian SME Lending Market
~98%
of Canadian Businesses Classified as SMEs
Post-2008
Structural Bank Retrenchment in Small-Balance Business Lending
Fragmented Market
No Single Non-Bank Lender Holds Meaningful Market Share
Yield Premium
Higher Spreads in Fragmented SME Credit Markets
Relative Yield Positioning
Risk-adjusted return profile relative to traditional fixed income and private credit benchmarks.
Risk & Governance Framework
Structured oversight across allocation, underwriting, and portfolio controls.
Fund Structure
Defined vehicle architecture, governance framework, and capital terms.
Alignment & Commitment
Structured to ensure long-term capital discipline and investor alignment.
General Partner capital commitment
Meaningful GP capital invested alongside LPs, reinforcing long-term partnership and shared outcomes.
Performance-Driven Compensation
Economic structure designed to prioritize realized performance and disciplined capital deployment.
Team & Leadership
Credit leadership supported by proprietary underwriting and portfolio infrastructure.
Adam Benaroch
Managing Partner - Strategy & Credit
Over 20 years operating commercial lending platforms across Capital Lynk, Forward Funding, and Canacap. Experience spans origination, underwriting, servicing, collections, and capital management across multiple market cycles, with over $300M in funded credit volume.
Contact:
Charles Papazian
Managing Partner - Strategy & Infrastructure
Co-founded Carousel Inc., a financial infrastructure platform supporting structured SME credit. Experience spans credit platform architecture and underwriting systems supporting production environments processing over $175M in credit application volume.
Contact:
Investor Access
For institutional investors seeking further information.
