Blog
Published January 2026
What we’re hearing from the field: needs & commitments to scale EO
At our December launch event for the EO Capital Roadmap—with over 170 registrants—we gathered investors, fund managers, philanthropy leaders and ecosystem builders working across employee ownership (EO).
We opened by sharing the EO Capital Roadmap—a field-wide guide designed to help scale employee ownership investing by aligning action across four interconnected strategies: Mobilize Investment, Power the Narrative, Deepen Infrastructure and Advance Policy. We shared how we shepherded the development of Roadmap with over 150 stakeholders to provide a cohesive view of the actions that—if taken together in an increasingly coordinated fashion—can dramatically move the needle on the growth of EO capital. It offers practical guidance, and examples and tools that help different actors understand how their roles connect.
We invited participants to jump in with their thoughts on two questions:
What are you personally or institutionally committed to doing to advance employee ownership?
What do you need in order to fulfill these commitments?
It was so fun to see people responding on virtual post-it notes—quick, informal and in the moment. What emerged was a candid snapshot of how the field is thinking right now: where momentum already exists, where constraints remain and where coordination could unlock greater forward motion.
Some clear themes surfaced, which map directly onto the Roadmap’s four Action Areas.
1. Capital is willing, but the marketplace still needs strengthening
Roadmap Action Area: Mobilize Investment
Mobilizing investment in employee ownership is about more than just moving money. For the field to succeed, there’s a need for a sophisticated, interconnected capital ecosystem. The EO Capital Roadmap recognizes that different forms of capital—from market-rate investments to grants—need to be strategically sequenced to unlock true scale. At the Roadmap launch, participants named concrete commitments to deploy capital into employee ownership, while simultaneously highlighting the gaps in the current investment marketplace.
Participants spoke of funding transitions, providing liquidity for sellers holding ESOP notes, launching new EO-focused funds, and continuing EO investments across existing portfolios. At the same time, their responses pointed to critical marketplace needs: clearer institutional products, credit enhancement, shared underwriting knowledge, and better ways to connect capital with potential deals.
Sample needs:
Participants were transparent about the challenges of mobilizing investment in employee ownership. One attendee, who is working to build the next generation of EO investment, directly stated a need for “investors interested in emerging managers in EO”. Another participant called out a critical market gap, noting that “credit enhancement would allow us to leverage more dollars into newer and emerging funds.” And another sought “intros to potential Limited Partners interested in high-quality private credit employee ownership”—highlighting the network-building and connection-making that’s crucial to expanding the EO investment ecosystem.
Sample commitments:
Despite the needs, the commitment to mobilizing investment was palpable. One attendee made a bold pledge, committing to “deploy $300M in providing liquidity to sellers holding seller notes in performing ESOPs”—a substantial vote of confidence in the ESOP model. Another committed to operate their fund “in a way that creates good headlines for the employee ownership space, so that others would be proud to work with us and follow in our footsteps”—highlighting the field’s desire to not just invest, but to inspire broader participation.
2. Employee ownership is expanding beyond a single model
Roadmap Action Area: Deepen Infrastructure
Employee ownership is no longer a one-size-fits-all model. Participants described a growing range of EO pathways that stretch far beyond traditional approaches—from ESOPs and Employee Ownership Trusts (EOTs) to entrepreneurship through acquisition and sector-specific models. The EO Capital Roadmap recognizes this evolving landscape as both an opportunity and a coordination challenge, supporting the development of interoperable tools that can serve these diverse pathways.
Clear requests emerged for better infrastructure: directories of service providers, industry-specific guidance, and greater awareness among selling owners about the multiple paths to employee ownership.
Sample needs:
The need for more diverse and flexible ownership models was evident. One participant expressed a need for a straightforward way to connect people interested in Employee Ownership Trusts (EOTs) with the right resources. Another participant called for “industry- or sector-specific guidelines to support curriculum development on EO”—highlighting the desire for tailored approaches that can work across different business contexts.
Sample commitments:
Investors and ecosystem builders are stepping up to explore new ownership models. One has committed to “building a fund focused on investing in the next generation of EO entrepreneurs”. Another is taking a targeted approach by “founding a 100% ESOP business model in the food & beverage service industry.” And another committed to “building an ownership portfolio investing in diverse funds,” demonstrating a proactive approach to expanding and diversifying employee ownership models.
3. Strengthening narrative and evidence is a shared priority
Roadmap Pillar: Power the Narrative
Transforming employee ownership from a niche concept to a mainstream strategy will require more than just financial mechanics. Participants consistently named the critical need for stronger narrative and evidence infrastructure—recognizing that employee ownership won’t scale through numbers alone.
The field is hungry for awareness campaigns, robust case studies demonstrating financial performance, and continued investment in storytelling. Multiple participants committed to publicly sharing their EO investment experiences, understanding that narrative is as crucial to growth as capital itself.
Sample needs:
One participant called for “more and more awareness campaigns that make selling owners aware of the many paths to employee ownership”. Another emphasized the need for “case studies of successful financial outcomes of EO and employee testimonials of how it drove them to think like an owner”—highlighting the power of personal stories in shifting perspectives.
Sample commitments:
Participants are stepping up to change the narrative. Some pledged to “publicly talk about EO investments to catalyze more capital”, recognizing that visibility matters. Others committed to collaborating on events and convenings to accelerate EO investment—understanding that building a compelling story is going to be a collective effort.
4. Talent and capacity are quiet constraints
Roadmap Pillar: Deepen Infrastructure
Another theme surfaced repeatedly, if more quietly: people and capacity. Participants pointed to the need for searchers to acquire businesses, fellowships and job pathways in EO investing, peer learning among funders, and capacity funding for EO ecosystem builders. Even where capital and models exist, the field’s human infrastructure is still catching up.
Sample needs:
The potential for growth was palpable, but so was the need for clear pathways into working more fully in the employee ownership field. One participant explicitly sought “fellowship, job, and volunteer opportunities in the EO investment space to build needed skills and network”. Another participant called for “structured collaboration pathways, knowing which funds are raising and gaining traction”—showing there’s a need for more intentional ways to enter and advance in the employee ownership ecosystem.
Sample commitments:
Participants are committed to nurturing and expanding the field’s potential. One committed to “continuing to pursue and share internship and job opportunities in the EO investment space, to build the pipeline of skilled professionals”. Another pledged to “do more work collectively—pull more DAF holders, friends, networks into this work”—recognizing that growing the talent pool in the field requires bringing more people into the conversation.
5. Policy is seen as a force multiplier
Roadmap Pillar: Advance Policy
Participants emphasized the role of federal and state policy in de-risking capital, supporting transitions and creating durable incentives for long-term ownership. When aligned with capital, narrative and infrastructure, policy can dramatically accelerate progress.
Sample needs:
The policy hunger was clear and direct. One participant stated, “I need Congress to pass the American Ownership and Resilience Act”—highlighting the concrete policy changes the field is seeking to unlock broader investment in employee ownership.
Sample commitments:
Investors are preparing to engage with policy strategically. One participant committed to “work with the field to find ways to build institutional products that support scale”—recognizing that policy and investment strategies must evolve together to create meaningful change.
A call to action
What we saw from this activity is a field that is motivated, active and increasingly diverse in approach—yet still constrained less by interest than by coordination. It reinforced the purpose of the EO Capital Roadmap itself: to serve as a practical guide that helps the field move in an increasingly coordinated fashion to dramatically move the needle on the growth of EO capital.
If any of these reflections resonate, or sparked thoughts of your own, one of the most powerful things you can do right now is to share the EO Capital Roadmap with your networks.
We encourage you to pass along the Roadmap and its accompanying stakeholder guides—for investors, field builders and policymakers.
Scaling employee ownership will require shared commitment, shared learning and shared momentum. We invite you to play a role in carrying this work forward!