february Review
In February, Vista held our annual CEO Summit, gathering portfolio leaders to network and share knowledge. We were also pleased to create value through accretive M&A, receive recognition as a top growth equity firm and welcome Dan Parant as Global Head of Private Wealth Solutions.
Vista is a leading global investment firm with more than $101 billion in assets under management as of September 30, 2023. 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.
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Legal Information +
Salesloft, a provider of an AI-powered revenue orchestration platform, announced the acquisition of Drift, the conversational AI company. This combination will enable customers to offer a personalized, omnichannel buyer journey powered by AI, providing an optimal buying experience that drives higher quality pipeline and revenue outcomes.
Investing in Enterprise Software
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. ©2024 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 vistaequitypartners.com/disclosures/ for further information.
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David Obrand, CEO, Salesloft
We are both focused on continued innovation, and together, our customers will experience improved consistency and repeatability throughout the entire buying journey."
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FEBRUARy 2024 Announced TransactionS
Building Together
Vista’s annual CEO Summit brings together executives from across our portfolio to foster connections and inspire innovation. This year, CEOs had the opportunity to hear from industry experts on topics like generative AI while working together to tackle shared challenges and opportunities. Through portfolio-wide events like our CEO Summit, we aim to leverage shared knowledge and expertise to unlock our collective potential.
Dan Parant joined Vista in February as Managing Director and Global Head of Private Wealth Solutions. In this role, Dan will accelerate Vista’s efforts to expand access to investing in private technology companies for financial advisors and their clients around the world. Dan joins Vista from KKR, where as Co-Head of Americas Private Wealth, he established the firm’s private wealth business over the last 12 years. Learn more here.
Scaling for Success
Vista’s President and Chief Operating Officer, David Breach, recently joined the CAIA Association’s Educational Alpha Podcast to share his perspective on why investing in enterprise software remains one of the most differentiated and compelling opportunities in the private markets. In the episode, David touched on the future of private equity, the macro conditions shaping the tech landscape and Vista’s disciplined approach to investing and value creation. Listen to the full conversation here.
Vista also was named to GrowthCap’s list of the Top Growth Equity Firms of 2023. This award recognizes firms based on their sector expertise, investment judgement, talent retention and commitment to value creation, among other criteria. We were pleased to receive this recognition for the third consecutive year.
Leading the Markets
add-on
Flagship
Fund
Celebrating Black History Month
To recognize Black History Month, the Black Vista Network hosted a fireside conversation featuring Vista’s Founder, Chairman and CEO, Robert F. Smith. During the discussion, Robert touched on the importance of diversity and inclusion in an increasing digital world. Watch a snippet of his remarks here.
The majority of technology and enterprise software companies – and therefore investment opportunities in the sector – are in the private markets, where individual investors have been historically under allocated. Dan’s experience and expertise will be crucial to our continued efforts to provide institutional quality solutions to the private wealth channel."
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Greg Myers, Senior Managing Director and Global Head of Capital and Partner Solutions, Vista
In Case You Missed It
We were pleased to celebrate six senior leadership promotions in 2023. Our people are at the heart of our success, and each of these individuals has provided incredible value to our Firm, our portfolio companies and our investors throughout their respective tenures at Vista.
Vista’s Aaron Gupta, Senior Vice President, Foundation Fund, and Abhay Puskoor, Managing Director, Endeavor Fund, were named to GrowthCap’s list of the Top 40 Under 40 Growth Investors of 2023. Honorees were selected from hundreds of investing professionals based on their breadth of deal experience, proven ability to offer operational guidance and track record of leadership in the asset management industry. Congratulations to Aaron, Abhay and all other recipients on this well-deserved achievement.
Three CEOs from the Vista portfolio also recently received recognition, earning spots on Calibre One’s list of the Top 25 Women Leaders in U.S. PE-Backed Software. Congratulations to LogicMonitor’s Christina Kosmowski, OfficeSpace’s Erin Mulligan Helgren and Ellucian’s Laura Ipsen. We are honored to work alongside these outstanding leaders.
Recognized for Excellence
Vista’s Founder, Chairman and CEO,
Robert F. Smith, joined S&P Global’s “Fixed Income in 15” podcast to share his views on building a culture of success, the growth of private markets and how generative AI will shape the future of enterprise software. Listen to the full interview here.
Michael Fosnaugh, Co-Head of the Flagship Fund and Senior Managing Director, also spoke on the future of enterprise software in an interview with WSJ Pro. In the article, he talks about how amid shifting valuation dynamics and sluggish deal volume, Vista’s disciplined investment approach and operational expertise position our Firm and our companies for success.
Insights and Ideas
JANUARY 2023
Announced TransactionS
MARTIN TAYLOR,
CO-HEAD OF THE FOUNDATION FUND
AND SENIOR MANAGING DIRECTOR, VISTA
Since investing in TRG Screen late last year, the business has continued its strong growth trajectory, and this acquisition further solidifies its position as a global market leader."
"
TRG Screen, an enterprise subscription spend and usage management software provider in Vista’s Foundation Fund, announced the acquisition of Xpansion, which offers cloud-based solutions for reference data usage monitoring in the financial services industry. This investment will materially expand TRG Screen’s product suite while also deepening the company’s footprint in the data and usage management category.
Investing in Enterprise Software
February Review
In January, Vista announced four add-on
acquisitions in our private equity portfolio.
In addition, we were pleased to offer insights
on the enterprise software market, celebrate recognitions for individuals across the Vista ecosystem and release our 2023 Year in Review.
CONNECT WITH VISTA
ON LINKEDIN
Vista is a leading global investment firm with more than $101 billion in assets under management as of September 30, 2023. 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. ©2024 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 vistaequitypartners.com/disclosures/ for further information.
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Our industry can’t just take [talent] out of the banks – we have to invest or partner with organizations to find underrepresented candidates early that can come into our space."
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Lauren Dillard, Chief Financial Officer and Senior Managing Director, Vista
Scaling for Success
Dan Parant joined Vista in February as Managing Director and Global Head of Private Wealth Solutions. In this role, Dan will accelerate Vista’s efforts to expand access to investing in private technology companies for financial advisors and their clients around the world. Dan joins Vista from KKR, where as Co-Head of Americas Private Wealth, he established the firm’s private wealth business over the last 12 years. Learn more here.