Semaphore is an investment advisor based in North Andover, Massachusetts. Established in 1987, the firm provides services regarding private equity funds-under-management, technology, and market diligence, as well as operation and strategy advisory services. The firm currently holds fiduciary obligations as general partner for six private equity funds and advises general and limited partners around the world. The company is an innovative provider of New Markets Tax Credits in both federal and state programs through the Pacesetter CDE entity. The assets of the firm are managed by the executive management team.