SAN DIEGO, CA 04.28, 2026 -- CAPTARGET, the longest-tenured deal-origination service in the middle market, today announced that it has joined SourceCo, the AI-driven buy-side sourcing platform founded by Tomos Mughan in 2022.

The combination creates the largest combined deal-origination services platform in the middle market by track record, data depth, and economic-structure breadth.

CAPTARGET, founded in 2009 by Gabriel Galvez and Paul Saitowitz, has worked with more than 1,500 private equity firms and sourced over $8 billion in closed deal volume across its fifteen-year history. In the last twelve months alone, CAPTARGET sourced 7,843 qualified leads across more than 50 industries.

The firm operates on a flat-retainer, no-success-fee model that has been the structural foundation of CAPTARGET's client relationships since founding.

Gabriel Galvez continues as Chief Executive Officer of CAPTARGET, with the team and the flat-retainer, no-success-fee model unchanged.

The combined platform now operates across the full economic spectrum of buy-side deal origination services.

GP Partners, the success-fee-only buy-side firm Galvez has operated alongside CAPTARGET, sits at one end. SourceCo's hybrid retainer-plus-success-fee model sits in the middle. CAPTARGET's flat-retainer, no-upside model sits at the other end. Buyers can self-select the structure that fits their mandate. No other firm in this category offers all three economic structures under common ownership.

"This combination works because what made CAPTARGET work for fifteen years continues. Same team. Same San Diego operation. Same flat-retainer, no-success-fee model. What changes is the infrastructure underneath. SourceCo has built the deployment layer that lets us apply current tooling to fifteen years of accumulated sourcing data. The combined platform also covers all three economic structures of buy-side deal origination, success fee through hybrid through flat retainer, which no other firm in this category does,"

said Gabriel Galvez, CEO of CAPTARGET.

Operationally, the combined platform unifies the data infrastructure, calling operations, and reporting workflows across both companies. CAPTARGET's outbound calling now operates in-house under SourceCo's calling infrastructure. Target lists are built from the union of CAPTARGET's fifteen years of accumulated sourcing data and SourceCo's three years of accumulated sourcing data, expanding the training base behind the targeting work by a multiple of what either firm operated on alone.

"Origination is fundamentally lead generation, and most of the deal-origination services category has been slow to apply modern lead-generation infrastructure to the work. SourceCo built the infrastructure layer over three years. CAPTARGET brought fifteen years of accumulated proprietary sourcing data and the longest continuous track record of fee-for-service sourcing in the middle market. The combination produces something neither company could have produced alone,"

said Tomos Mughan, CEO of SourceCo.

Both companies have positioned the combined platform to participate in further consolidation of the deal-origination services category over the next 24 months.

Financial terms of the transaction were not disclosed.

About CAPTARGET

Founded in 2009, CAPTARGET is the longest-tenured deal-origination service in the middle market. The firm operates on a flat-retainer, no-success-fee model and has worked with more than 1,500 private equity firms across fifteen years. CAPTARGET sourced 7,843 qualified leads in the last twelve months across more than 50 industries. The firm is headquartered in San Diego, CA.

About SourceCo

Founded in 2022 by Tomos Mughan and Daniel Kobayashi, SourceCo is an AI-driven buy-side sourcing platform serving private equity firms, family offices, search funders, corporate development teams, and independent sponsors. SourceCo operates a marketplace of vetted off-market founder-led deals and provides retainer-based sourcing services to buyers running active acquisition programs. The firm is headquartered in Miami, FL.

Media Contact

Adam Haile, Marketing, CAPTARGET/SourceCo

adam.haile@sourcecodeals.com