MAY RevieW
In May, Vista announced new private equity and credit investments,
and we held portfolio-wide events to spark growth, fuel innovation
and create value for our portfolio companies and investors.
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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 $96 billion in assets under management as of December 31, 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’s Endeavor Fund announced two platform investments in May, including the acquisition of Resilinc, a leading provider of supply chain risk management software. Resilinc’s expansive proprietary data set provides companies in complex, interconnected supply chains with clear visibility into their entire supply chain ecosystem and offers customers the ability
to collaborate with suppliers on a single, secure platform. This investment will accelerate Resilinc’s product development and enhance its go-to-market capabilities.
Vista Credit Partners announced an investment in Fivetran, a global leader in automated data movement. Vista’s investment will be used to support Fivetran’s continued innovation and enterprise growth, bolstering its leadership position
in the market.
Investing in Enterprise Software
Insights for Operational Excellence
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
CLOSE X
David Flannery, Senior Managing Director
and President, Vista Credit Partners
Fivetran is an ideal partner for Vista Credit Partners as a founder-led,
scaled and growing category leader providing mission-critical solutions to modern businesses."
"
ADD-ON
Flagship
Fund
ADD-ON
Flagship
Fund
ADD-ON
Endeavor
Fund
Platform - Minority
Endeavor
Fund
Platform - Majority
Endeavor
Fund
May 2023 Announced Transactions
A key theme of the event was that Vista remains disciplined in our approach and consistent in our ability to create value in our investments. Also on display last week was the expertise and breadth of Vista’s investment and operating teams.
In partnership with our investors and our portfolio companies, we are focused on capturing the opportunities ahead.
Watch our latest video, “Our Ecosystem of Opportunity.”
An Ecosystem of Opportunity
Vista partnered with Microsoft to produce a new report, “The Best of Both Worlds: Unlocking the Potential of Hybrid Work for Software Engineers.” The study analyzed 3,400 survey responses conducted across 28 companies in seven countries to identify challenges and trends in productivity and job satisfaction among developers. Click here to read key findings from the report and learn how company
leaders can set developers up for success in a hybrid
work environment.
During Vista’s 2023 CEO Summit earlier this year, over 60
of our CEOs gathered to share some of the operational strategies they’re prioritizing in the current environment. From pursuing cost-effective innovation to selling on value and growing the top line, see how Vista CEOs are building more resilient businesses in our latest insight, “Leader
to Leader: Advice for Growing Software Businesses Today.”
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.
Insights for
Operational Excellence
MAY REVIEW
Investing in
Enterprise Software
follow-on offering
Flagship
Fund
MAY Announced Transactions
Vista’s President and COO, David Breach, sat down with Bloomberg’s Sonali Basak at the 2023 Milken Institute Global Conference to share his conviction in the enterprise software space and to discuss the opportunities that continue to exist in the public markets for private investors. Listen to their full conversation here.
Rachel Arnold, Senior Managing Director and Co-Head
of Vista’s Endeavor Fund, spoke with PitchBook about how the tailwinds of digitization are driving further enterprise software adoption and creating investment opportunities across verticals. Read the article here.
Market Leadership
We focus on the enterprise software space, and we think the value
of the companies that we buy exists in any market."
"
David Breach,
President and Chief Operating Officer, Vista
David Flannery, Senior Managing Director and President,
Vista Credit Partners
Fivetran is an ideal partner
for Vista Credit Partners
as a founder-led, scaled and growing category leader providing mission-critical solutions to modern businesses."
"
platform - majority
Endeavor Fund
READ MORE UPDATES
Vista is a leading global investment firm with more than $96 billion in assets under management as of December 31, 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
Add-on
Endeavor
Fund
Add-on
Endeavor Fund
Platform - Minority
Endeavor
Fund
Vista held our annual Women’s Leadership Summit in May. The theme for this year’s Summit was “Learn. Grow. Evolve.,” exploring paths to career development
and highlighting insights from women leaders at Vista.
Last year, we achieved gender parity as a Firm, and today women represent 53% of employees. Click here to listen
to some of their stories.
We also recently hosted our 2023 Demo Day, a portfolio-wide gathering where companies have the opportunity
to showcase their solutions to peers and receive feedback on their products and positioning. Congratulations
to BetterCloud, Drift, OfficeSpace and RadarFirst
for receiving recognition at this year’s event.
$125MM
Growth
Financing
Vista Credit
Partners
follow-on Offering
Flagship
Fund
In addition to the investments outlined above, Vista continues to generate liquidity amid a challenging market environment, announcing a follow-on offering of Integral Ad Science (NASDAQ: IAS) shares.
61%
of developers say that seeing colleagues face to face is the most valued part of going into the office.
Vista’s Endeavor Fund announced two platform investments in May, including
the acquisition of Resilinc, a leading provider
of supply chain risk management software. Resilinc’s expansive proprietary data set provides companies in complex, interconnected supply chains with clear visibility into their entire supply chain ecosystem and offers customers the ability
to collaborate with suppliers on a single, secure platform. This investment will accelerate Resilinc’s product development and enhance its go-to-market capabilities.
Vista Credit Partners announced an investment in Fivetran, a global leader in automated data movement. Vista’s investment will be used
to support Fivetran’s continued innovation
and enterprise growth, bolstering its leadership position in the market.
Growth
Financing
Vista Credit Partners
$125mm
Vista’s President and COO, David Breach,
sat down with Bloomberg’s Sonali Basak
at the 2023 Milken Institute Global Conference to share his conviction in the enterprise software space and to discuss
the opportunities that continue to exist
in the public markets for private investors. Listen to their full conversation here.
We continue to be excited about
the tailwinds of digitization across
all verticals. We've seen secular tailwinds in hospitality, cybersecurity, governance, risk and compliance, and financial services, just to name a few."
"
Rachel Arnold,
Senior Managing Director
and Co-Head of the Endeavor Fund, Vista
Vista held our annual Women’s Leadership Summit in May. The theme for this year’s Summit was “Learn. Grow. Evolve.,” exploring paths to career development and highlighting insights from women leaders at Vista. Last year, we achieved gender parity as a Firm, and today women represent 53% of employees. Click here to listen to some of their stories.
We also recently hosted our 2023 Demo Day,
a portfolio-wide gathering where companies have the opportunity to showcase their solutions to peers and receive feedback on their products and positioning. Congratulations to BetterCloud, Drift, OfficeSpace and RadarFirst for receiving recognition at this year’s event.
Vista partnered with Microsoft to produce
a new report, “The Best of Both Worlds: Unlocking the Potential of Hybrid Work
for Software Engineers.” The study analyzed 3,400 survey responses conducted across
28 companies in seven countries to identify challenges and trends in productivity and job satisfaction among developers. Click here
to read key findings from the report and learn how company leaders can set developers
up for success in a hybrid work environment.
During Vista’s 2023 CEO Summit earlier
this year, over 60 of our CEOs gathered
to share some of the operational strategies they’re prioritizing in the current environment.
From pursuing cost-effective innovation
to selling on value and growing the top line,
see how Vista CEOs are building more resilient businesses in our latest insight, “Leader
to Leader: Advice for Growing Software Businesses Today.”