Capstone Closes Buy of SagePoint Advisors

Capstone Partners has completed its buy of SagePoint Advisors. Financial terms weren’t announced. SagePoint, with offices in San Diego and Silicon Valley, SagePoint focuses on emerging technology companies.


Capstone Partners LLC, a leading national investment banking firm, today announced that it has completed the acquisition of SagePoint Advisors, a boutique investment bank dedicated entirely to serving the M&A and financing needs of emerging technology companies in a variety of segments, including Consumer Internet, Mobile Software & Services, Enterprise SaaS, Cloud & Infrastructure Software and Consumer, IT & Telecom Hardware. With offices in San Diego and Silicon Valley, SagePoint has developed a dedicated national technology practice lead by 20 year veteran David Michaels, the co-founder of Montgomery & Co.’s investment banking group.

“We are absolutely thrilled to have SagePoint join our corporate family. The domain expertise and leadership that it will bring to Capstone will have a significant impact on our presence in the technology industry, which was the genesis of our firm. Additionally, David Michaels’ experience in building leading investment banking capabilities in a high-growth environment will be invaluable to our direction as we continue to expand our footprint and capabilities,” commented John Ferrara, President and Managing Partner of Capstone.

“As a leading middle-market investment bank with a national footprint and a reputation for world class deal execution, Capstone is an ideal growth platform for SagePoint,” added David Michaels, founder of SagePoint Advisors, now Head of Capstone’s Technology & Telecom Group. “I look forward to working with the Capstone team to build a leading technology practice in several major technology markets.”

With this addition, Capstone will expand its national leadership team and reinforce the firm’s commitment to the technology market, which was Capstone’s flagship industry group. In addition, Capstone will become more active in the major technology markets across the United States. As a result, Capstone’s national Technology & Telecom Group will be managed by the following members of executive leadership:

David P. Michaels
Managing Director, Head of Technology & Telecom Group

David Michaels founded SagePoint Advisors in 2008,a boutique investment banking firm focused exclusively on providing merger, acquisition and strategic advisory services to growth companies in the technology and telecom sectors. Prior to founding SagePoint, Mr. Michaels was a Co-Founder, Partner and Managing Director at Montgomery & Co., a leading investment bank focused on serving emerging-growth technology companies and their venture backers. Mr. Michaels co-founded Montgomery’s investment banking business in 1996 as the lead banker and played an instrumental role in building the business to over $50 million in revenues and 80 employees. Mr. Michaels launched Montgomery’s San Diego office in 2003 and established Montgomery as the dominant brand in the region. Mr. Michaels also ran the firm’s Communications and Digital Media Technology practice areas for several years prior to his departure. During his 14 year tenure at Montgomery, Mr. Michaels advised CEOs and Boards on more than 75 corporate strategy, M&A and fund raising engagements.

Mr. Michaels has intimate knowledge of the strategic landscape, market dynamics and technology underpinnings of several high technology market segments including Consumer Internet, Mobile Software & Services, Enterprise SaaS, Cloud & Infrastructure Software and Consumer, IT & Telecom Hardware. Prior to co-founding Montgomery’s investment banking business, Mr. Michaels managed strategic consulting assignments for the firm including market entry analysis, acquisition search studies and strategic portfolio assessments.

Prior to joining the Montgomery in 1994, Mr. Michaels held various investment banking positions including a position within Bankers Trust Corporate Finance Department, where he helped execute merger and acquisition assignments such as sale mandates and valuation analyses. Prior to that, Mr. Michaels worked as a structural engineer at General Dynamics, where he assisted on the Advanced Tactical Fighter program.

Mr. Michaels received an M.B.A. with an emphasis in marketing and entrepreneurship from the Anderson School of Management at UCLA and holds a B.S. in Mechanical Engineering from the University of Michigan. He can be reached at (858) 926-5950, or via e-mail at

Teak Murphy
Vice President, Technology & Telecom Group

Teak Murphy joined SagePoint Advisors as a Senior Associate in 2009 where he advises technology companies on mergers, acquisitions and strategic capital raises. Prior to joining SagePoint, Teak worked as a Senior Associate with Enterprise Partners Venture Capital, the largest Southern California based VC firm, where he evaluated investment opportunities and worked closely with senior management and board members to successfully grow portfolio companies.

Prior to Enterprise Partners, Teak worked as an Associate in technology investment banking at Montgomery & Co. where he spent three years working closely with SagePoint’s founder David Michaels on buy-side and sell-side M&A transactions. Prior to Montgomery, Teak worked at Cowen & Co. advising technology companies on M&A and IPO transactions.

Teak’s experience working on fund raising, mergers and acquisitions, and initial public offerings as both an advisor and investor provides unique insight into the needs of venture-backed companies. Teak graduated from the University of Southern California with honors, receiving a B.S. in Business Administration/Finance. He can be reached at (858) 345-2408, or via e-mail at

About Capstone
Capstone Partners LLC is a leading national investment banking firm dedicated to serving the corporate finance needs of middle market business owners, investors and creditors.  The firm provides merger & acquisition, private placement, corporate restructuring, valuation and financial advisory services.  Capstone maintains various industry specialties including business services, consumer products, education & training, government services, health & medical, manufacturing & industrial and technology & media.  The firm also possesses merchant banking capabilities to actively co-invest in transactions.  Additional information about Capstone Partners can be found at