may Review
In May, Vista advanced our ESG strategy with the Vista Climate Pledge. Through the commitments contained in this pledge, we became one of the first U.S. private equity firms to have a portfolio-wide program measuring greenhouse gas (GHG) emissions, setting a GHG reduction target and offsetting GHG emissions on an annual basis. May also saw opportunities for personal connection, as we held both our annual CEO Retreat – bringing together more than 50 CEOs to engage and learn from one another – and the Vista Women’s Leadership Summit – a Vista-wide event promoting connection and leadership opportunities for the women at our firm.
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ADD-ON AQUISITIONS
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INITIAL PUBLIC OFFERING
VPS SERIES C PRIVATE INVESTMENT
Vista is a leading global investment firm with more than $93 billion in assets under management as of December 31, 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.
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This month, we announced a partial sale of our stake in iCIMS, welcoming TA Associates as an investor in the cloud-based solutions provider that empowers organizations to attract, engage, hire and advance the right talent. We were pleased to deliver a return for our Limited Partners in the Flagship Fund while continuing our partnership with iCIMS to deepen penetration in the $17 billion talent management software market.
Additionally, Vista Credit Partners made an investment in Updater to enable the best-in-class relocation platform to fund extensive R&D, launch products into new markets, develop additional features for users and invest substantially in talent to support Updater’s continued growth.
Investing in Enterprise Software
Empowering the Vista Ecosystem
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.
PEI's Future 40 nominees were required to apply for nomination.
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.
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David Greenberg, Founder and CEO, Updater
We’re thrilled to partner with Vista Credit Partners for this investment round, which will propel Updater to new heights…This capital provides us the resources we need to expand into new moving segments and broaden our suite of marketplace and SaaS products."
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Flagship
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Flagship
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Endeavor
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monetization - partial
Flagship Fund
Founderdirect - growth financing
Vista Credit Partners
May 2022 Announced Transactions
$215MM
terms not disclosed
We were delighted to announce the Vista Climate Pledge this month. This global, portfolio-wide emissions measurement and reduction strategy is among the most comprehensive in the private equity industry with all majority-owned portfolio companies as of July 2021 agreeing to measure greenhouse gas (GHG) emissions, set a GHG reduction target and offset GHG emissions on an annual basis as part of the Vista Climate Pledge.
This announcement is a major milestone as we continue our portfolio-wide journey toward 50% emissions reduction by 2030 and net zero emissions by 2050. These ambitious goals, established when Vista signed the Net Zero Asset Managers initiative last July, are proof-positive of our commitment to leveraging Vista’s size and scale to drive meaningful change and build an even better future. Vista was one of the first North American private equity firms to join the Net Zero Asset Manager initiative, and the Vista Climate Pledge will be among the first initiatives of its kind.
You can learn more about our ESG practices through this case study on the Principles for Responsible Investment website outlining the process we used to engage our portfolio companies and implement a comprehensive GHG measurement strategy.
Vista Climate Pledge
Vista’s commitment to building a culture of opportunity for all team members to grow and learn has helped us achieve gender parity as a firm and inspired us to create initiatives aimed at developing and empowering all leaders. In May, we hosted our annual Women’s Leadership Summit in Austin, an event that helps foster personal and professional development for the women of Vista. This year’s theme, “Thriving in a Reimagined World,” centered on the opportunities and challenges of leading in today’s environment.
We also held our annual CEO Retreat, bringing together some of the brightest leaders in enterprise software. Our CEOs heard from industry leaders, networked with peers and came together to discuss shared challenges and opportunities. Through portfolio-wide events like the CEO Retreat, we foster meaningful connections for our executive community and create pathways to build upon and leverage our collective knowledge and expertise to engineer the way forward.
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.
Empowering the Vista Ecosystem
MAY REVIEW
Investing in
Enterprise Software
FounderDirect - Growth Financing
$215MM
Vista Credit Partner
monetization - Partial
Flagship Fund
Terms not disclosed
MAY Announced Transactions
READ MORE UPDATES
Vista is a leading global investment firm with more than $86 billion in assets under management as of December 31, 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.
PEI's Future 40 nominees were required to apply for nomination.
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.
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Inc. Magazine’s Best Workplaces 2022 list recognized three Vista companies for their people-first work cultures. Congratulations to KnowBe4, LogicMonitor and Salesloft on this well-deserved achievement.
Best Places to Work
Vista's President and Chief Operating Officer David Breach attended Milken Institute's Global Conference to discuss private markets in periods of uncertainty, addressing the dynamic nature of today's markets and how Vista's scale and focus positions our firm and companies for success. Watch the conversation here.
Meanwhile, Vista’s Director of Diversity and Inclusion, Khalida Ali, was named to Private Equity International's 40 under 40: Future Leaders of Private Equity, Class of 2022. Khalida leads efforts to make Vista and our companies more inclusive places for all. We’re proud of the work Khalida and her team have done throughout her tenure at Vista, and we are thrilled to celebrate her well-deserved recognition. Watch Khalida discuss Vista's approach to DE&I here.
Market Leadership
Best Places to Work
Inc. Magazine’s Best Workplaces 2022 list recognized three Vista companies for their people-first work cultures. Congratulations to KnowBe4, LogicMonitor and Salesloft on this well-deserved achievement.
Meanwhile, Vista’s Director of Diversity and Inclusion, Khalida Ali, was named to Private Equity International's 40 under 40: Future Leaders of Private Equity, Class of 2022. Khalida leads efforts to make Vista and our companies more inclusive places for all. We’re proud of the work Khalida and her team have done throughout her tenure at Vista, and we are thrilled to celebrate her well-deserved recognition. Watch Khalida discuss Vista's approach to DE&I here.