Thesis Capital Announces Founding Investment in Legacy Media

April 9, 2026 — Thesis Capital Partners is pleased to announce the founding of Legacy Media, a new platform built from the ground up to develop and monetize unique data sets focused on the U.S. lower middle market.

Legacy Media was founded by Thesis Capital as a special situation investment, operating outside the firm's standard acquisition profile. Rather than acquiring an existing business, Thesis built Legacy Media in-house to pursue a structural opportunity the firm identified in underserved corners of the media and information landscape: the scarcity of high-quality, proprietary data about the businesses that make up the U.S. lower middle market.

The lower middle market — generally defined as privately held companies with between $10 million and $250 million in revenue — represents one of the largest and least transparent segments of the American economy. Public data is fragmented, third-party research is shallow, and the founders, operators, and investors working in this segment have historically been forced to make decisions with incomplete information. Legacy Media was founded to close that gap.

"The lower middle market is where the real American economy lives, and yet it is the most data-poor corner of the capital markets," said Ian Reynolds, Founder and Managing Partner of Thesis Capital Partners. "We saw a structural opportunity to build something that didn't exist — a platform that creates, curates, and distributes unique data sets about the businesses, operators, and transactions in this segment. Legacy Media is our answer to that."

Legacy Media will focus on developing proprietary data products, original research, and editorial content designed specifically for founders, operators, investors, and advisors working in the U.S. lower middle market. The platform is being built to serve both the Thesis Capital ecosystem and the broader community of participants in this underserved segment.

Thesis Capital will continue to support Legacy Media with capital and operational resources as the platform builds out its data infrastructure, editorial voice, and distribution. Additional details regarding products, partnerships, and leadership will be shared in the months ahead.