february Review
In February, Vista’s credit platform announced two investments, and companies
in our private equity and permanent capital portfolio received recognition
for their outstanding growth and leadership. We also held our annual
CEO Summit and celebrated Black History Month as a Firm.
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12
1
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PE PLATFORM INVESTMENTS
PE
ADD-ON AQUISITIONS
PE MONETIZATION
INITIAL PUBLIC OFFERING
VPS SERIES C PRIVATE INVESTMENT
Vista is a leading global investment firm with more than $95 billion in assets under management as of September 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity.
READ MORE UPDATES
Legal Information +
Vista Credit Partners announced two transactions in February, including an investment in Demandbase,
the smarter go-to-market company. Vista’s investment will support platform innovation as Demandbase looks to build on a successful 2022 and record Q4 bookings.
Investing in Enterprise Software
From the Deal Team
PLATFORM
Flagship
Fund
MONETIZATION
Flagship Fund
This document is intended to provide general information regarding Vista’s investing experience and not for the purpose of soliciting investors for any Vista Fund. Under no circumstances should the information provided be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made to accredited investors and qualified purchasers pursuant to the current offering documents of the relevant Vista Fund. The information provided may not be reproduced or disseminated to any third parties without the written consent of Vista. The past performance of previous Vista Funds and portfolio companies is not necessarily indicative of future results. Investors in Vista Funds may lose investment capital. There can be no assurance that any future Vista Funds or portfolio companies will achieve comparable results. Additional important disclosures can be found here. ©2023 Vista
The content of this Newsletter is for general, informational purposes. Vista Equity Partners does not make any representation or warranty of any kind, express or implied, as to the accuracy or completeness of the information contained herein. Under no circumstances should the information presented be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made pursuant to the current offering documents for the relevant Vista Fund (the “Fund”) which may only be provided to accredited investors and qualified purchasers as defined under the Securities Act of 1933 and the Investment Company Act of 1940. While the information provided herein is believed to be accurate and reliable, Vista Equity Partners, its advisors and employees make no express warranty as to its completeness or accuracy.
Although the Newsletter may include investment-related information, nothing in the Newsletter is a recommendation that you purchase, sell or hold any security or other investment, or that you should pursue any investment strategy, and no information or Content (as defined below) on the Newsletter is to be relied upon for the purpose of making or communicating investment or other decisions. Nothing in the Newsletter is intended to be, and you should not consider anything on the Newsletter to be investment, accounting, tax, legal or other professional advice.
The information provided in this Newsletter may not be reproduced, distributed or communicated, in whole or in part, to any third party without the express written consent of Vista Equity Partners.
This Newsletter includes information regarding Vista Equity Partners’ past and present portfolio companies. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Further, references to Vista Equity Partners’ past and present portfolio companies should not be construed as a recommendation of any particular investment or security. The portfolio companies listed should not be assumed to have been profitable. Any past performance information in the Newsletter is not necessarily indicative, or a guarantee, of future results. Certain transactions may not be publicly announced at the time of distribution of this document and are therefore not included. Please view www.vistaequitypartners.com for additional information regarding Vista’s strategies and past and present investments.
The Newsletter may contain forward-looking statements (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts and are based on current expectations, estimates, projections, opinions and/or beliefs of Vista. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, no representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only, or that any profits will be realized. Actual events or results or actual performance of the relevant Fund (or any other entity referred to in the Newsletter) may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. No representation or warranty is made as to future performance or such forward-looking statements.
Please see Disclosures at https://www.vistaequitypartners.com/disclosures/ for further information
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David Flannery, Senior Managing Director
and President, Vista Credit Partners
Demandbase is revolutionizing the GTM experience and driving results for B2B companies. We're thrilled to partner with
the entire Demandbase team as they look
to continue their path of innovation and build meaningful solutions for customers."
"
ADD-ON
Flagship
Fund
ADD-ON
Flagship
Fund
ADD-ON
Endeavor
Fund
Founderdirect
Vista Credit Partners
Founderdirect
Vista Credit Partners
February 2023 Announced Transactions
$175MM
terms not disclosed
Vista’s annual CEO Summit brings together leaders from across our portfolio to foster connections and inspire innovation. Attendees at the 2023 Summit had
the opportunity to hear from industry experts, Vista leadership and, most importantly, one another. Through portfolio-wide events like the CEO Summit, we aim
to leverage shared knowledge and expertise to unlock
our collective potential.
Empowering Our Ecosystem
Michael Fosnaugh, Senior Managing Director and Co-Head of Vista’s Flagship Fund, sat down with Private Equity Hub to discuss Vista’s recent acquisition of KnowBe4.
In the interview, Michael shares Vista’s thesis for investing in the cybersecurity awareness training provider along with his personal thoughts on cybersecurity’s growing importance, opportunities to invest in the space and the dynamics impacting deal activity in 2023. Read the full article here.
We announced the take-private of Datto in April, which is pending sale to Kaseya at a valuation of $6.2 billion following a period of rapid growth during its time in the Vista portfolio. After acquiring Datto in December 2017, we merged it with Autotask, a Vista Foundation Fund company, based on an investment thesis to create the world’s broadest MSP platform. Partnering with Datto’s founder and management team, we accelerated organic growth across the enterprise — implementing best practices across sales, customer acquisition and customer experience — and completed three add-ons to further strengthen the product suite. During this time, Datto’s annual revenue more than doubled to $620 million, headcount increased from ~800 to more than 2,000 and its MSP customer base has grown to over 19,000.
Congratulations and best wishes to the Datto team on this exciting milestone. This exit represents a meaningful monetization event for both Vista’s Flagship and Foundation Funds.
From the Deal Team
FEBRUARY REVIEW
Investing in
Enterprise Software
Founderdirect
Vista Credit Partners
Terms not disclosed
february Announced Transactions
Throughout February, the Vista team took time to recognize, celebrate and reflect on the history and achievements
of the African American community. We are committed to creating an environment where people of all backgrounds
and identities are welcome and supported, and we continue to make meaningful progress through our Conscious Inclusion initiative, External Board program and other efforts underway at our Firm and across our portfolio.
Click here to read reflections on Black History Month from Vista’s Founder, Chairman and CEO, Robert F. Smith.
Recognizing Black History Month
Calibre One’s 2023 edition of the Top Women Leaders in US PE-Backed Software featured three CEOs from Vista’s private equity and permanent capital portfolio. Christina Kosmowski, CEO of LogicMonitor, Laura Ipsen, CEO of Ellucian, and Teresa MacKintosh, CEO
of Trintech, were all recognized for their track record
of accelerating growth and creating value.
Additionally, nine leaders from across Vista’s portfolio were named to CRN’s 2023 Channel Chiefs list for their work developing and supporting successful channel strategies and partner programs. Congratulations to all honorees on this well-deserved recognition.
Partnering With
Industry Leaders
Cybersecurity is not a check-the-box compliance task – it is a foundational business priority with board-level visibility, support and focus. These solutions are extremely important
for businesses of all sizes across
the globe who are operating in
a continuously evolving and increasingly sophisticated threat landscape.”
“
Michael Fosnaugh, Senior Managing Director
and Co-Head of Flagship Fund, Vista
Vista’s Robert F. Smith and Rachel Arnold lead
a discussion at our 2023 CEO Summit.
DAVID FLANNERY,
SENIOR MANAGING DIRECTOR
AND PRESIDENT, VISTA CREDIT PARTNERS
Demandbase is revolutionizing
the GTM experience and driving results for B2B companies.
We're thrilled to partner with
the entire Demandbase team
as they look to continue
their path of innovation and
build meaningful solutions
for customers"
"
Founderdirect
Vista Credit Partners
$175mm
Michael Fosnaugh, Senior Managing Director and Co-Head of Vista’s Flagship Fund, sat down with Private Equity Hub to discuss Vista’s recent acquisition of KnowBe4. In the interview, Michael shares Vista’s thesis for investing in the cybersecurity awareness training provider along with his personal thoughts on cybersecurity’s growing importance, opportunities to invest
in the space and the dynamics impacting deal activity in 2023. Read the full article here.
Recognizing
Black History Month
READ MORE UPDATES
Vista is a leading global investment firm with more than $95 billion in assets under management as of September 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity.
Legal Information +
This document is intended to provide general information regarding Vista’s investing experience and not for the purpose of soliciting investors for any Vista Fund. Under no circumstances should the information provided be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made to accredited investors and qualified purchasers pursuant to the current offering documents of the relevant Vista Fund. The information provided may not be reproduced or disseminated to any third parties without the written consent of Vista. The past performance of previous Vista Funds and portfolio companies is not necessarily indicative of future results. Investors in Vista Funds may lose investment capital. There can be no assurance that any future Vista Funds or portfolio companies will achieve comparable results. Additional important disclosures can be found here. ©2023 Vista
The content of this Newsletter is for general, informational purposes. Vista Equity Partners does not make any representation or warranty of any kind, express or implied, as to the accuracy or completeness of the information contained herein. Under no circumstances should the information presented be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made pursuant to the current offering documents for the relevant Vista Fund (the “Fund”) which may only be provided to accredited investors and qualified purchasers as defined under the Securities Act of 1933 and the Investment Company Act of 1940. While the information provided herein is believed to be accurate and reliable, Vista Equity Partners, its advisors and employees make no express warranty as to its completeness or accuracy.
Although the Newsletter may include investment-related information, nothing in the Newsletter is a recommendation that you purchase, sell or hold any security or other investment, or that you should pursue any investment strategy, and no information or Content (as defined below) on the Newsletter is to be relied upon for the purpose of making or communicating investment or other decisions. Nothing in the Newsletter is intended to be, and you should not consider anything on the Newsletter to be investment, accounting, tax, legal or other professional advice.
The information provided in this Newsletter may not be reproduced, distributed or communicated, in whole or in part, to any third party without the express written consent of Vista Equity Partners.
This Newsletter includes information regarding Vista Equity Partners’ past and present portfolio companies. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Further, references to Vista Equity Partners’ past and present portfolio companies should not be construed as a recommendation of any particular investment or security. The portfolio companies listed should not be assumed to have been profitable. Any past performance information in the Newsletter is not necessarily indicative, or a guarantee, of future results. Certain transactions may not be publicly announced at the time of distribution of this document and are therefore not included. Please view www.vistaequitypartners.com for additional information regarding Vista’s strategies and past and present investments.
The Newsletter may contain forward-looking statements (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts and are based on current expectations, estimates, projections, opinions and/or beliefs of Vista. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, no representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only, or that any profits will be realized. Actual events or results or actual performance of the relevant Fund (or any other entity referred to in the Newsletter) may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. No representation or warranty is made as to future performance or such forward-looking statements.
Please see Disclosures at https://www.vistaequitypartners.com/disclosures/ for further information.
CLOSE X
Calibre One’s 2023 edition of the Top Women Leaders in US PE-Backed Software featured
three CEOs from Vista’s private equity
and permanent capital portfolio. Christina Kosmowski, CEO of LogicMonitor, Laura Ipsen, CEO of Ellucian, and Teresa MacKintosh, CEO
of Trintech, were all recognized for their track record of accelerating growth and creating value.
Additionally, nine leaders from across Vista’s portfolio were named to CRN’s 2023 Channel Chiefs list for their work developing and supporting successful channel strategies
and partner programs. Congratulations to all honorees on this well-deserved recognition.
