Q1 Review
We maintained strong momentum in the first quarter of 2022, sourcing, diligencing and signing transactions across our private equity, permanent capital, credit and public equity investment strategies. In parallel, we continued to prioritize value creation initiatives to support our vast enterprise software ecosystem and Vista companies announced new products, grew their teams and reached new milestones. Against the current geopolitical tumult and the continued uncertainty we face together, we are reminded of our shared responsibility and unique opportunity to help build a better future.
3
12
1
1
1
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 $86 billion in assets under management as of September 30, 2021. 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 +
In the first quarter, Vista announced 24 transactions. Our private equity and permanent capital portfolio added eight platform investments and 12 add-ons across the Flagship, Foundation and Endeavor Funds. Meanwhile, the Endeavor Fund successfully executed a monetization in Securelink while the Perennial fund completed the add-on of CampusLogic for Ellucian. Additionally, Vista Credit Partners announced a FounderDirect growth financing in C2FO, while Vista Public Strategies invested in Ramp.
Investing in Enterprise Software
Innovation is a strategic priority for our firm and our portfolio of enterprise software companies. Vista portfolio company Chief Technology Officers (CTOs) and their teams balance visionary ideas and strategic execution to create best-in-class software products that help their organizations stay one step ahead in the digital economy. Congratulations to Mickey Alon of Gainsight, Sergei Anikin of Pipedrive, Jenny Peng of Aptean and Matthew Keemon of Jebbit for their recognition in The Software Report’s Top 25 Software CTOs of 2022 list.
Additionally, congratulations to the companies and individuals from across Vista's investment strategies that were recognized in CRN’s 2022 Channel Chiefs list. Thank you for your leadership and for continuing to serve the evolving needs of your customers and channel partners.
Staying Ahead in the Digital Economy
PLATFORM
Flagship
Fund
MONETIZATION
Flagship Fund
This document is 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. 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. The metrics regarding select aspects of portfolio company operations were selected by Vista on a subjective basis. Such metrics are provided solely for illustrative purposes to demonstrate elements of such companies' business, are incomplete, and are not necessarily indicative of the company's performance or overall operations. The information provided is strictly confidential and may not be reproduced or disseminated to any third parties without the written consent of Vista. 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. ©2022 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.
2020 and 2021 Inc. Award nominees were required to apply for nomination, which included a participation fee. The Recognitions do not include information on all applicable private equity funds available for investment or all vintages of such private equity funds and therefore are necessarily incomplete. In particular, the Recognitions do not include the results of private equity funds that do not meet the specified investment strategy or other specified criteria, or that were raised prior to or subsequent to the cut-off dates specified in the criteria for such Recognitions. Inclusion of such private equity funds could materially affect the relative positioning of the private equity firms shown in the Recognitions. In addition, the Recognitions make certain assumptions and weightings, and other assumptions or weightings could lead to materially different results. Because the methodologies of the Recognitions are proprietary, it is not possible for a private equity firm to assess the universe of private funds included, including an assessment of whether such funds have investment programs or risk/return profiles similar to that of the funds managed by such firm. Use of other methodologies might lead to a private equity fund or firm being ranked in a materially different position. In addition, any Recognition that represents an aggregate performance of any private equity firm’s funds, including but not limited to the above mentioned Recognitions, is not necessarily indicative of any one investor’s experience. For the foregoing and other reasons, the Recognitions may not be an appropriate measure by which to assess the performance of any private equity fund.
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. (M-225612)
Please see Disclosures at https://www.vistaequitypartners.com/disclosures/ for further information.
CLOSE X
Dan Sharplin, Chairman and CEO, FLASH
We are thrilled to welcome Vista as an investor and partner whose expertise and experience will ensure we continue innovating to advance the connected mobility experience."
"
ADD-ON
Flagship
Fund
ADD-ON
Flagship
Fund
ADD-ON
Endeavor
Fund
platform
Foundation Fund
Add-on
Flagship
Fund
Add-On
Foundation
fund
Add-On
Flagship
Fund
add-on
Foundation
Fund
MARCH Announced Transactions
Terms not disclosed
Terms not disclosed
Terms Not Disclosed
Terms not disclosed
$250MM+
Our companies continuously innovate, fueled by a desire to improve both their products and the world around them. We’re proud to announce that Powerschool was recently named to Fast Company’s The World’s Most Innovative Companies of 2022 list. Joining PowerSchool on the list is Ramp, a Vista Public Strategies investment. Both companies continue to move the needle and make a meaningful impact on their respective industries, and we’re delighted to celebrate their accomplishments.
Leading Our Portfolio
and the Markets
Investing for the Long-Term
Q1 REVIEW
Investing in
Enterprise Software
Terms not disclosed
add-on
Foundation Fund
Terms not disclosed
Add-ON
Flagship Fund
add-on
Flagship
Fund
Terms not disclosed
Add-On
Terms not disclosed
Flagship
Fund
Platform
Foundation Fund
$250MM+
March Announced Transactions
READ MORE UPDATES
Vista is a leading global investment firm with more than $86 billion in assets under management as of September 30, 2021. 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 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. 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. The metrics regarding select aspects of portfolio company operations were selected by Vista on a subjective basis. Such metrics are provided solely for illustrative purposes to demonstrate elements of such companies' business, are incomplete, and are not necessarily indicative of the company's performance or overall operations. The information provided is strictly confidential and may not be reproduced or disseminated to any third parties without the written consent of Vista. 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. ©2022 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.
2020 and 2021 Inc. Award nominees were required to apply for nomination, which included a participation fee. The Recognitions do not include information on all applicable private equity funds available for investment or all vintages of such private equity funds and therefore are necessarily incomplete. In particular, the Recognitions do not include the results of private equity funds that do not meet the specified investment strategy or other specified criteria, or that were raised prior to or subsequent to the cut-off dates specified in the criteria for such Recognitions. Inclusion of such private equity funds could materially affect the relative positioning of the private equity firms shown in the Recognitions. In addition, the Recognitions make certain assumptions and weightings, and other assumptions or weightings could lead to materially different results. Because the methodologies of the Recognitions are proprietary, it is not possible for a private equity firm to assess the universe of private funds included, including an assessment of whether such funds have investment programs or risk/return profiles similar to that of the funds managed by such firm. Use of other methodologies might lead to a private equity fund or firm being ranked in a materially different position. In addition, any Recognition that represents an aggregate performance of any private equity firm’s funds, including but not limited to the above mentioned Recognitions, is not necessarily indicative of any one investor’s experience. For the foregoing and other reasons, the Recognitions may not be an appropriate measure by which to assess the performance of any private equity fund.
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. (M-225612)
Please see Disclosures at https://www.vistaequitypartners.com/disclosures/ for further information.
CLOSE X
PE PLATFORM INVESTMENTS
8
PE ADD-ON Acquisitions
12
PE
MONETIZATIOn
1
PERENNIAL FUND
ADD-ON
1
VISTA PUBLIC STRATEGIES INVESTMENT
1
First Quarter Announced Transactions
VISTA CREDIT PARTNERS
FOUNDERDIRECT - GROWTH FINANCING
1
Our investment teams completed seven transactions in March, including several key add-ons for companies in both the Flagship and Foundation funds. Vista’s Foundation Fund led a $250 million strategic investment in FLASH, the leader in cloud parking software and mobility transformation. The investment will help to accelerate the company’s already significant growth through production expansion, providing world-class customer service and building out Flash’s best-in-class team.
Add-On
Flagship
Fund
Terms not disclosed
Investment
Vista Public Stratgies
$750MM+
By approaching ESG and DE&I as we do everything at Vista — with a lens toward systematic solutions that scale — we can create tangible and sustainable results that lead to lasting change. Vista's Founder, Chairman and CEO, Robert F. Smith, recently participated in the 2022 FCLTGlobal Blue Book and shared how Vista continues to prioritize ESG and DE&I practices across our firm and portfolio of companies.
Investing for
the Long-Term
Celebrating Women’s History Month
Diversity, equity and inclusion are core to our values, and through our culture, practices and recruiting pipeline, we are wholly focused on creating an equitable and inclusive firm. We are pleased to announce that we have reached gender parity as a firm with 50% of team members identifying as women.
To celebrate Women’s History Month, Rachel Arnold was featured in Buyouts’ Women in Private Equity: The Class of 2022. As the Co-Head of Vista’s Endeavor Fund, Rachel helms one of the largest woman-led tech buyout funds in the world alongside Rene Stewart. We’re proud of Rachel’s accomplishments as she continues to shape the future of private equity.
At the portfolio level, ComplySci CEO Amy Kadomatsu was honored as the Gender Equality / Diversity Professional of the Year by WatersTechnology. Amy was recognized for her leadership in prioritizing DE&I across the organization, increasing gender diversity by more than 20 percent in the last year.
Rachel Arnold
CO-Head, Vista Endeavor Fund & Senior Managing Director
Amy Kadomatsu
CEO, Complysci
Terms not disclosed
add-on
Foundation Fund
$750MM+
Investment
Vista Public Strategies
Vista was honored to be included in GrowthCap’s Annual Publication as a Top Growth Equity Firm of 2021, which highlights some of the industry’s leading firms and individuals, including Vista’s Rene Stewart, Steven White and Nick Prickel.
Celebrating Women’s History Month
Diversity, equity and inclusion are core to our values, and through our culture, practices and recruiting pipeline, we are wholly focused on creating an equitable and inclusive firm. We are pleased to announce that we have reached gender parity as a firm with 50% of team members identifying as women.
To celebrate Women’s History Month, Rachel Arnold was featured in Buyouts’ Women in Private Equity: The Class of 2022. As the Co-Head of Vista’s Endeavor Fund, Rachel helms one of the largest woman-led tech buyout funds in the world alongside Rene Stewart. We’re proud of Rachel’s accomplishments as she continues to shape the future of private equity.
At the portfolio level, ComplySci CEO Amy Kadomatsu was honored as the Gender Equality / Diversity Professional of the Year by WatersTechnology. Amy was recognized for her leadership in prioritizing DE&I across the organization, increasing gender diversity by more than 20 percent in the last year.
Our investment teams completed seven transactions in March, including several key add-ons for companies in both the Flagship and Foundation funds. Vista’s Foundation Fund led a $250 million strategic investment in FLASH, the leader in cloud parking software and mobility transformation. The investment will help to accelerate the company’s already significant growth through production expansion, providing world-class customer service and building out Flash’s best-in-class team.