In this next iteration of the Capital Allocators series, Matt sits down with Brian Henley, Managing Partner of Recurring Capital Partners to discuss his business and the work that they do with SaaS (Software as a Service) companies. They begin by discussing Recurring Capital Partners and how they work with SaaS companies who are looking for growth capital. They then move into the business of SaaS and the massive changes in the industry that has taken place in the past decade. They also delve into how Recurring Capital Partners evaluates companies that they are considering for growth capital including looking at predictable recurring revenue, a sticky customer base and high growth margins. They finish the discussion on the topic of metrics, sales strategies utilized by software companies and when companies should take equity vs. debt capital.