We are a forever company
Koniag Capital Market Update / Summer 2026
Building a $300M technology services portfolio with patient capital and purpose
Our goals
Our investment thesis hasn't changed since this spring, and we want to keep saying it plainly, so the market knows exactly where we stand:
A $300M technology services portfolio,
built with patient capital and purpose, not fund-cycle pressure.
built with patient capital and purpose, not fund-cycle pressure.
$500M in investment capital to deploy,
backed by more than 50 years of permanent capital from Koniag, Inc.
backed by more than 50 years of permanent capital from Koniag, Inc.
Four active acquisition mandates:
Cybersecurity, Microsoft Dynamics 365 ERP, Operational Technology & Industrial Control Services (OT/ICS), and Data, Analytics & AI Services.
Cybersecurity, Microsoft Dynamics 365 ERP, Operational Technology & Industrial Control Services (OT/ICS), and Data, Analytics & AI Services.
A mission that outlasts any single deal:
Every dollar of value we create ultimately supports more than 4,800 Alaska Native shareholders.
Every dollar of value we create ultimately supports more than 4,800 Alaska Native shareholders.
Momentum metrics
The M&A market remains fiercely competitive. Great technology services companies in several categories remain heavily sought after, and the bar for winning their attention keeps rising. It’s an environment we love competing and differentiating in.
Nearly
300 Targets
Reviewed
in the first six months of our fiscal year
5 IOIs + 3 LOIs
Sent this quarter alone
7 IOIs + 7 LOIs
Sent this fiscal year
Signed
3 LOIs
Including one in the Operational Technology space, with several more expected this fall
For additional target profile details:
Download Full Market Update
In the market: Fall events
Koniag Capital's fall calendar continues with stops in two additional Northeast markets, where we'll meet with consulting leaders to talk through what's moving the needle on valuation and where buyer priorities stand today. Both events are free to attend.
Boston
October 21, 2026
View Details
New York City
October 22, 2026
View Details
Sharing the catch: Koniag Capital's POV on growing holding periods
At Koniag Capital, we built our model around a different idea: the clock can belong to the founder and your team. We're not a fund. We're the commercial investment arm of Koniag, Inc., permanent capital with a 50-plus-year horizon. That long-term thinking is why we built our "share the catch" model, our way of creating real retention and upside for the employees who helped build the business, not just its shareholders.
The Clock Can Belong to the Founder (and Your Team)
We've published the full piece — "The Clock Can Belong to the Founder (and Your Team)" — as a standalone article. It's a fuller look at why we think permanent capital changes the conversation for founders and their teams, and we think it's worth five minutes of your time.
Read the Article