Description Cream puffs and tarts need not apply at Baker Capital. This Madison Avenue private equity firm is, instead, looking to take controlling or significant minority stakes in mainly later-stage communication and technology companies. In addition to providing funding, Baker Capital also offers post-investment consulting services in such areas as strategy, executive and board recruitment, and international expansion. It typically exits its investments through a sale or an IPO within five years. The firm, which has approximately $1.5 billion of funds under management, owns stakes in about 20 companies in the US and Europe.