Respecting the forces of nature.

How We Work With You

We don't believe in one-size-fits-all capital. Whether you need growth equity, a structured credit facility, or a hybrid solution that preserves your ownership while fueling expansion — we tailor every structure to the business, not the other way around.

Capital Across the Structure

Operating Partners: In the Trenches

Our Operating Partners aren’t names on a letterhead. They’re available when you need them — not imposed. They help our Investment Committee better understand the real drivers of a business. They’ve founded, acquired, scaled, and turned around businesses in our target industries. These partners have built careers building businesses and are here to advise, mentor, or simply serve as a sounding board for yours.

Situations We Like

Why These Sectors

Every thesis is rooted in firsthand experience — our team has operated, built, and invested in these industries for decades.

Health & Wellness¹

A $2.3 trillion market driven by a multi-generational shift toward preventative health, mental well-being, and sustainable consumption. Our team has invested in and operated health and wellness businesses for over two decades.

Education Services²

The education sector is undergoing structural transformation. Digital learning, reskilling, and outcome-based models are reshaping how education is delivered. Our team has direct operating experience scaling education businesses.

Multi-Unit & Fragmented Services

Highly fragmented service industries with strong recurring revenue, high switching costs, and proven unit economics. Geographic density advantages and technology adoption create natural consolidation opportunities.

Capital Structure

Swell Capital invests across the capital structure. Our hybrid approach aims to align incentives as necessary for the business. We can provide equity or credit financing.

Additional Capital Sources

We bring access to additional capital — bridge financing for time-sensitive acquisitions, follow-on capital for high performers, or additional capital resources for larger transactions.

How We Create Value

How We Came Together

Swell Capital wasn't built by assembling strangers — it grew organically out of decades-long relationships, shared values, and a collective passion for helping small businesses succeed.

The roots go back over 25 years, when Jose Biton and Josh Rosen first met as classmates at The Wharton School in 2000. Since graduating together in 2002, they've remained close friends and trusted confidants.

Jose brought Ron Kantowitz into the fold — a career credit investor who has sourced and executed private credit investments across the full capital structure at institutions including JPMorgan, Bank of America, Royal Bank of Scotland, and Invesco.

Eli Minski completes the Investment Committee — Jose and Eli have known each other for many years. They worked together at WM Partners and knew that they wanted to continue expanding this vision.

Why We Structured the Team This Way

The Investment Committee combines complementary skills covering the full investment lifecycle: Jose brings operational depth. Josh brings public-market analytical rigor. Ron brings institutional-grade credit underwriting. Eli brings sector-specific deal execution.

The Operating Partners extend that into deep sector knowledge — each a proven operator who invests personal capital alongside the partnership. These are people who answer the phone at midnight when a portfolio company needs help.

Jose is responsible for the day-to-day management of Swell Capital and is a member of the Investment Committee.

He is an experienced operator, executive, and investor with a career spanning public markets, private equity, and hands-on leadership roles. Jose has served as CFO and senior executive in scaled organizations, led acquisitions, carve-outs, and restructurings, and worked closely with management teams to execute long-term growth initiatives. His background in health & wellness and education, combined with deep financial training, grounds Swell’s investment process in operating reality and disciplined analysis.

Jose earned an MBA from The Wharton School at the University of Pennsylvania as well as BIE and MSIE degrees from the Georgia Institute of Technology.

Outside of work, Jose enjoys competing in endurance events and spending time outdoors with his family. He travels regularly to surf and dive, pursuits that require patience, adaptability, and respect for nature. He is actively involved in community and youth organizations.

Josh is a member of the Investment Committee.

He brings over two decades of experience investing in public markets with analytical depth and patience. He co-managed a long/short equity fund for fifteen years, where he developed a rigorous framework for evaluating businesses across industries — with particular emphasis on understanding company fundamentals, competitive moats, downside protection, and the conditions under which long-term value is genuinely created.

Josh’s edge is about the quality of the questions he asks: the ones that reveal whether a business is as durable as it appears. That discipline, applied across hundreds of companies and industries over his career, sharpens Swell’s investment process at the level where it matters most — before capital is committed.

Josh earned an MBA from The Wharton School at the University of Pennsylvania as well as a BA in History from the University of Pennsylvania.

Outside of work, Josh is a competitive tennis and padel player and loves paddleboarding and hiking. He spends as much time as possible outdoors with his wife and four kids, and the family’s idea of a perfect vacation is a return to his wife’s home country of Costa Rica — ideally headed straight for the pristine beaches and surf of the Guanacaste Coast.

Ron is a member of the Investment Committee.

He brings more than two decades of experience in middle-market credit and sponsor finance. He has built and led direct lending platforms, underwritten complex capital structures, and navigated multiple credit cycles. Ron anchors Swell’s credit mindset, ensuring downside risk, structure, and capital preservation remain central to every investment decision.

Ron earned an MBA from the University of Chicago and a BS in Business Administration from the State University of New York at Albany.

Eli has spent his career investing in health & wellness businesses across the full investment lifecycle. He began on the operating side at a multi-brand health and wellness company that originated as a contract manufacturer before transitioning into private equity. Eli joined WM Partners at inception and helped build the firm through multiple funds, leading sourcing, execution, portfolio management, and exits. He brings deep sector knowledge and a practical understanding of how investment decisions affect operators and teams.

Eli earned an MBA from Babson College and a BSM in Finance from Tulane University.

Eli enjoys spending time with his wife and three daughters, traveling the world, experiencing different cultures, and history.

Alberto is the co-founder and CEO of Zumba, a globally recognized health and wellness platform built around community, culture, and movement. Under his leadership, Zumba has built a global platform spanning instructor training, proprietary programming, music partnerships, consumer products, and large-scale international events. Today, Zumba Fitness is the largest branded dance-fitness company — reaching millions of participants worldwide.

Alberto brings a founder’s perspective on building culture, engaging communities, and creating scalable marketing and lead-generation engines. His experience developing loyal pipelines of customers, instructors, and partners applies well beyond fitness, particularly for consumer-facing and service businesses focused on growth, brand, and long-term engagement.

Alberto earned a Bachelor’s degree from Babson College.

Nick brings extensive experience operating, investing in, and transacting complex businesses, particularly in healthcare and multi-unit, location-based services. He is most effective in situations where execution matters — acquisitions, carve-outs, growth under operational pressure, and businesses that require decisive leadership and financial clarity.

He combines hands-on operating leadership with significant transaction experience. Nick is a co-founder and co-president of a large acute care hospital system and has led or overseen numerous transactions across healthcare and multi-unit services spanning acquisitions, divestitures, and complex restructurings. He brings focus, pace, and practical problem-solving to complex operating environments.

Nick holds Bachelor of Science degrees in Finance & Banking, Real Estate, and Economics, as well as an MBA from the University of Missouri.

Hiram has spent over two decades helping businesses scale thoughtfully through technology and systems change. He is regularly involved with education, healthcare, and technology-enabled services companies when growth requires clearer structure, stronger architecture, and better alignment between strategy and execution.

Founders value Hiram for his ability to understand a business quickly and simplify complex problems. His background spans engineering, business, education, and artificial intelligence, allowing him to connect strategy, operations, and technology in a practical way. He brings clear thinking, strong judgment, and a genuine interest in helping people and businesses grow.

Hiram most recently earned a Master’s degree in Artificial Intelligence from the Georgia Institute of Technology. He also earned an MBA and a Master’s in Education from Stanford University, as well as a Master’s in Operations Research from Cornell University. Hiram was a Division I volleyball player at Penn State University, where he earned a Bachelor’s in Industrial Engineering.

Jason brings over two decades of experience building and scaling education technology and training businesses. His work centers on companies focused on growth, product-market fit, and long-term impact across education platforms and services.

As a founder, operator, and best-selling author, Jason has worked through the full lifecycle of education-focused businesses, from early product development through scaled growth. He brings an operator’s perspective on leadership, organizational development, and execution, and is particularly effective with teams moving from early traction to sustained scale.

Jason earned an MBA from The Wharton School at the University of Pennsylvania as well as a Master’s in Education. He earned a Bachelor’s in Chemistry from Morehouse College.