David Michaels

  • Managing Director
310-929-5955
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Biography

David Michaels is a Managing Director of Capstone where he is responsible for managing the firm’s Technology & Telecom Group (TTG). David founded SagePoint Advisors in 2008, a boutique investment banking firm focused on providing M&A advisory services to technology and telecom companies. Prior to founding SagePoint, David was a Co-Founder, Partner and Managing Director at Montgomery & Co., a leading investment bank focused on serving emerging-growth technology companies. David co-founded Montgomery’s investment banking business in 1996 and played an instrumental role in building the business to over $50 million in revenues and 80 employees. Mr. Michaels also ran the firm’s Communications and Digital Media Technology practice areas prior to his departure.

David has intimate knowledge of the strategic landscape, market dynamics and technology underpinnings of several high technology market segments including Mobile Software & Services, Consumer Internet, E-Commerce, Enterprise SaaS, Cloud & Infrastructure Software and Consumer, IT & Telecom Hardware. Prior to joining Montgomery in 1994, David worked as an investment banker at Bankers Trust and prior to that, as a structural engineer at General Dynamics.

Education

The Anderson School at UCLA - MBA - Entrepreneurship

The University of Michigan - BS - Mechanical Engineering

Registrations & Affiliations

FINRA - Series 79 & 63 Registered Invetsment Banking Representative

Industry Coverage

COVID-19 has had a larger impact on HCM SaaS companies than the broader SaaS universe as hiring freezes, layoffs, and workforces moving remote caused significant segment disruption. However, as the country gets back to work, Capstone expects the HCM SaaS industry to rebound with some potentially new longer-term trends emerging as capabilities like remote employee management and increased use of outsourced contractors provide more staffing flexibility.Read more

Capstone expects COVID-19 will accelerate adoption of nonprofit software by several years. The reallocation of focus towards digital fundraising and increased utilization of subscription giving are anticipated to generate higher transaction dollars for digital fundraising solutions.Read more

The COVID-19 pandemic has ignited a transformation in the Education industry by necessitating the widespread adoption of technological tools and validating the crucial role that education technology must play in both the short and long-term.  Operators in the space have also sought to fulfill the immediate needs of the evolving market.  Many education technology companies have offered online courses to assist the needs of the remote workforce and to provide training for teachers using distance learning methods and platforms.Read more