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Cresten Capital

In the dynamic world of private investments, where vision meets financial acumen, Cresten Capital stands as a beacon of excellence. Renowned as a best-in-class private investment firm, Cresten Capital has consistently demonstrated its prowess in navigating the complex terrain of investments, fostering growth, and delivering unparalleled value to its partners.

Cresten Capital distinguishes itself through its disciplined and diversified investment approach. The firm seeks out opportunities across various sectors, meticulously analyzing market trends and identifying companies with the potential for substantial growth. Cresten’s investment philosophy is characterized by a hands-on, collaborative approach, working closely with portfolio companies to unlock their full potential.

One of the key pillars of Cresten Capital’s success is its team of seasoned professionals with diverse industry expertise. The firm boasts a cadre of specialists, each bringing a unique skill set to the table. Whether it’s technology, finance, restaurants, retail, or real estate, Cresten’s ability to navigate diverse sectors has contributed significantly to its success.

Cresten Capital’s journey to becoming a best-in-class investment firm is a testament to its unwavering dedication to excellence, innovation, and responsible investing. As it continues to navigate the ever-evolving landscape of investments, Cresten Capital stands poised to shape the future of retail and real estate setting new standards for success in the industry.

About Our Team

Founder, Kevin Tupy
Partners
Investment Partners

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Kevin Tupy

Founder & Partner

*Early Years:* Kevin embarked on his professional journey with a seven-year tenure at Citi, where he honed his skills and climbed the ranks in various management roles within the Private Label Credit Card division. This foundational experience in the corporate world provided him with valuable insights into the intricacies of finance and business banking.

*Entrepreneurial Journey- Z Wireless (2001-2011):* In 2001, driven by a vision for entrepreneurial success, Kevin transitioned from the corporate landscape to the dynamic realm of entrepreneurship. Armed with determination, he founded Z Wireless, starting with a single mall-based kiosk in Sioux Falls, SD. Over the subsequent decade, Kevin’s leadership steered Z Wireless to remarkable growth, expanding its footprint to over 100 locations across the Midwest.

*Strategic Partnership and National Expansion (2011-2016):* Recognizing the potential for even greater success, Kevin entered a strategic partnership with Atlantic Street Capital in 2011. This partnership was pivotal in propelling Z Wireless onto the national stage. The ensuing years saw exponential growth, with the business transforming into the largest Verizon Premium Retailer in the country by 2016.

*Victra – A National Powerhouse (2016-Present):* The year 2016 marked a significant milestone as Z Wireless rebranded to Victra, a testament to its evolution and ascendancy in the telecommunications retail sector. With a new name and new capital partners, Victra grew rapidly and expanded to an impressive network of over 1,500 locations nationwide and establishing a presence in all 50 states.

*Continued Dedication and Strategic Leadership:* Kevin’s commitment and involvement to Victra remains an integral part of its success. With substantial ownership in the company, he remains actively engaged and involved in managing major initiatives alongside his partners. His ongoing involvement underscores not only a commitment to the business but also a passion for retail and for shaping Victra’s continued success.

*Legacy and Impact:* Kevin’s journey from the corporate world to entrepreneurship and the subsequent growth of Victra is a testament to his resilience, strategic foresight, and leadership acumen. His legacy extends beyond the numbers and statistics, encompassing the impact he has made on the telecommunications retail landscape and the opportunities he has created for countless individuals within the Victra family. Kevin’s story serves as inspiration for aspiring entrepreneurs and business leaders, showcasing the rewards of bold vision, hard work, and unwavering dedication.

*Today* Kevin is the founding partner of Cresten Capital, an alternative asset firm. Starting in 2014 with a vision of using his skills in building organizations and developing leadership, Kevin grew Cresten from an investment firm with a single real estate asset into a powerhouse of diversified investments that cross a broad spectrum of consumer services companies and real estate classes.

Erica Mullaly

Senior Partner

Erica's professional journey began in the fast-casual restaurant industry, where she played a key role in managing the busiest franchise location in South Dakota. In May 2011, she graduated from the University of South Dakota with a bachelor's degree in Business Administration, specializing in Human Resource Management. Following graduation, she joined the Human Resources department of a wireless retailer operating throughout the Midwest. As the company expanded nationally over the next five years, Erica transitioned into the Business Development department, focusing on lease and acquisition management. In mid-2016, she shifted to real estate and development, joining Cresten Capital, where she manages daily operations for Cresten Properties, CPM, Lucky’s, and Blue Star (Anytime Fitness). She holds a Broker Associate license in South Dakota and is actively involved in her community, serving on the board of the Alzheimer’s Association of South Dakota and the Downtown Sioux Falls Business Improvement District. In June 2023, she was appointed to the City of Sioux Falls Planning Commission.

Kelly Greer

COO & Partner

Kelly is an experienced professional in the real estate industry, having worked in various positions related to property management and operations. At Cresten Capital, he is responsible for overseeing operations related to the multi-family portfolio, which includes marketing, training, development, and acquisition opportunities. Before joining Cresten Capital in November 2019, Kelly was involved with conventional and LIHTC (Low-Income Housing Tax Credit) properties, and has held various positions such as Leasing Agent, Property Manager, Regional Manager, Director, and Vice President. His experience in the industry includes handling resident relations, on-site management, multi-site management, budget preparation, and financial analysis. Kelly's professional credentials also include holding his Brokers license through the state of South Dakota.

Mitch Staples

Chief Financial Officer

Mitch began his career at Sammons Financial Group in the mailroom, advancing through Investment Accounting over 15 years while gaining deep experience in financial services investments. During this time, he earned his accounting degree from the University of South Dakota and later completed a double master’s in accounting and finance from Southern New Hampshire University (SNHU), graduating Summa Cum Laude. Following his tenure at Sammons, Mitch became Director of Accounting at Bluestone Federal Credit Union, where he developed yield strategies in a challenging low-yield environment and refined his leadership skills. He also earned his CPA designation during this period. Driven by a desire to give back to the university that gave him so much, Mitch has been an instructor of accounting and finance at SNHU for the past four years, teaching 8–10 courses annually. Mitch then joined Profile by Sanford as Controller, overseeing the transition of general ledger and payroll systems during the company’s move to private ownership. He also collaborated with private equity group Ten Oaks, later being promoted to Director of Finance. However, he found the fully remote nature of the role misaligned with his long-term goals. When an opportunity to join a local private investment group in Sioux Falls presented itself, Mitch embraced the chance to return to his roots. He is now back downtown, contributing to the success of Cresten Capital with enthusiasm and a deep commitment to the firm’s continued growth.

Matt Paulson

Investment Partner

Matt Paulson is the founder and CEO of MarketBeat, an Inc. 5000 financial media company that empowers individual investors to make better trading decisions with real-time financial data, in-depth market analysis, and best-in-class stock research tools. As one of the most active angel investors in the Midwest, Matt has invested in more than 80 high-growth startups, including Buffer, Bushel, Density, Dollar Shave Club, Lyft, Prismatic, and Wikia. His venture capital firm, Homegrown Capital, makes early-stage investments in high-growth AgTech, FinTech, and SaaS companies. He currently serves on the boards of two technology startups, Pitchly and Prismatic. Matt also invests in commercial real estate as a general partner in Cresten Capital, including ownership interests in more than 25 apartment complexes and retail centers.

Rocky Rehfeldt

Investment Partner

Rocky serves as Executive Vice President - Private Banking for Loft Advisors, a division of First Dakota National Bank. He has over 20 years of private banking, business, investment, and management experience. Before joining Loft Advisors, he was a Vice President of Business Banking at First Bank and Trust in Sioux Falls. Prior to that he worked 10 plus years at Wells Fargo, finishing his tenure as a Senior Private Banker. Rocky prides himself on being a complete relationship banker and is diversified in real estate, traditional business, investments, legacy, and private banking. Rocky has a bachelor’s degree in business and finance, with an emphasis in management from the University of Sioux Falls. He also played collegiate football for the USF Cougars and had the honor of playing on the runner-up National Championship team. In the years of being on the football team, he learned a tremendous amount about leadership, faith and hard work. When it comes to his free time and priorities, Rocky enjoys spending time with his family. His wife, Arianna, works as a CFA at the South Dakota Investment Council. His daughter, Avery (14), plays tennis for Jefferson High School, plays softball in the summer, and plays guitar. His son, Grayson (11), plays baseball, soccer, basketball, football, tennis, and guitar. Rocky is a big fan of USF Athletics, the Kansas City Chiefs, Washington Huskies Football, and Nebraska football. He also enjoys fishing and hunting. Rocky grew up on a small family farm between Hartford and Sioux Falls and truly understands the importance of being involved in the community in which he lives. Along with supporting several non-profits in the community, Rocky was a member of the Board of Directors for DakotAbilities from 2009-2022, having served as Board President from 2012-2014. Rocky also serves on the University of Sioux Falls Board of Trustees.