---
title: "Investment Without a Structure: Keys to the Independent Sponsor Model"
description: Discover The Earnout Magazine Spring 2025, highlighting leaders shaping private capital, investment banking, and wealth management.
image: https://www.prodoscapital.com/hubfs/pexels-marek-piwnicki-3907296-11032443%20(1).jpg
---

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# Investment Without a Structure: Keys to the Independent Sponsor Model

[By Prodos Capital Team](https://www.prodoscapital.com/blog/author/prodos-capital-team)

 August 18, 2025

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In the competitive world of private equity, more and more firms are exploring new operating models. One of them is the independent sponsor, and in this special *Independently Sponsored* edition by Trivest, **Douglas Song** —Managing Partner at **Prodos Capital**— shares his experience with this collaborative approach.

From New York, Prodos Capital has led and co-invested in multiple transactions alongside other sponsors, proving that joining forces can be as powerful as it is challenging.

What does it take for a partnership between sponsors to work?  
How is it decided who leads, who contributes, and how the returns are shared?  
Why is value alignment, beyond capital, so important?

In the feature, Douglas reveals how they managed six joint deals —some as leaders, others as passive investors— and reflects on the lessons learned from each role. He also delves into the key aspects that ensure these alliances not only close transactions but also build long-term relationships.

If you’re looking for an honest and direct perspective on the independent sponsor model —from its strategic advantages to the complexities of governance— this is a must-read.

 

**Read the full interview here:**

[Access](https://www.trivest.com/independently-sponsored-march-2021/)

 

A direct look at collaborative practice in private equity, told by those who make it happen.

 

[All posts](https://www.prodoscapital.com/blog)

###### About Author

[Prodos Capital Team](https://www.prodoscapital.com/blog/author/prodos-capital-team)

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Not the typical Private Equity Firm.

- [Home](https://www.prodoscapital.com/)
- [About us](https://www.prodoscapital.com/about-us)
- [Investment criteria](https://www.prodoscapital.com/investment-criteria)
- [Portfolio](https://www.prodoscapital.com/portfolio)
- [Team info](https://www.prodoscapital.com/team-info)
- [Investors Portal](https://prodoscapital.nthround.io)
- [Media](https://www.prodoscapital.com/blog)
- [Contact us](https://www.prodoscapital.com/contact-us)

Copyright 2026. All Rights Reserved by Prodos Capital LLC

<https://www.linkedin.com/company/prodos-capital-management-llc/> [mailto:dsong@prodoscapital.com](mailto:dsong@prodoscapital.com)

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