November Review
Vista is a leading global investment firm with more than $94 billion in assets under management as of June 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.
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Disciplined Enterprise Software Investing
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. ©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. 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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As part of Vista Credit Partners’ continued growth, we were pleased to welcome Greg Galligan as Senior Managing Director. In his role, Greg will lead our credit strategy’s direct lending program and will sit on the Vista Credit Partners Investment Committee. Greg joins the Firm with over two decades of experience, most recently serving as a Partner
at Ares Management Corporation where he was responsible for building and leading Ares’ direct lending efforts
in the United States.
Vista’s Founder, Chairman and CEO, Robert F. Smith, joined Co-Heads of Vista’s Flagship Fund
and Senior Managing Directors, Michael Fosnaugh and Monti Saroya, for an interview on enterprise software investing with Private Equity International. The conversation touches on Vista’s disciplined
and selective investment approach, our collaborative value creation process and how we partner
with our portfolio companies to promote sustainable growth. Read the full interview here.
As we near the end of 2022, Vista’s portfolio companies continue to innovate
and advance solutions that unleash productivity and power the global economy.
In November, we were pleased to welcome new team members, celebrate recognition for our diversity, equity and inclusion (DE&I) programs and share insights on investing and value creation with the broader market.
Advancing Our Credit Strategy
Robert also authored an article for CNBC on the investment opportunity in enterprise software.
In the piece, he shares key insights on the macro environment and how privately held companies that partner with knowledgeable, focused investors are better positioned to innovate, adapt and grow.
Read the op-ed here.
Greg is a deeply knowledgeable credit investor with demonstrable experience driving growth and product innovation
at some of the industry’s largest direct lending platforms.”
David Flannery, President of Vista Credit Partners and Senior Managing Director, Vista
Rachel Arnold and Rene Stewart, Co-Heads of Vista’s Endeavor Fund and Senior Managing Directors, recently spoke to RJ Lumba on GrowthCap’s Growth Investor podcast to discuss their experience leading the Endeavor Fund and investing in high-growth enterprise software companies. Listen to the episode where they share
what makes a partnership successful and how their
unique professional backgrounds shaped their approach
to investing.
Top Women in
Growth Investing
Through our External Board Program, Vista sources board members from underrepresented backgrounds who bring diverse perspectives and experiences to our portfolio companies. As the Director of Vista’s External Board Program, Bessie Watts helms this initiative, and we were pleased to see her recognized by Insider as one of the
100 People Transforming Business for her work leading
the program.
Leading on Diversity,
Equity and Inclusion
Vista’s President and Chief Operating Officer, David Breach, joined a panel on private markets in periods of uncertainty at the 2022 World Strategic Forum where he shared his thoughts on the current market and discusses the resilience
of enterprise software. Watch the full conversation here.
In Case You Missed It
Monti Saroya, Co-Head of Flagship Fund
and Senior Managing Director, Vista
We invest in enterprise software because
we believe it is the most productive and transformative business tool on the planet.”
“
“
Vista’s Foundation Fund announced the exit of our stake in Aptean, a leading provider of ERP software. Vista’s Flagship Fund merged CDC and Consona to form Aptean in 2012 and Vista’s Foundation Fund acquired the company in 2019. Today Aptean boasts more than 10,000 customers spanning over 20 industries. It has been a pleasure partnering with the entire Aptean team, and we wish them the best as they embark on this next chapter.
We were also pleased to announce the take-private acquisition of KnowBe4 (NASDAQ: KNBE), a leading security awareness training and simulated phishing platform. We look forward to leveraging our deep understanding of the business and significant experience in the cybersecurity space as we partner with the KnowBe4 team to drive growth and expansion.
Investing in
Enterprise Software
Monti Saroya, Co-Head of Flagship Fund
and Senior Managing Director, Vista
We invest in enterprise software because we believe it is the most productive and transformative business tool on the planet."
"
Vista entered the fourth quarter with strong momentum. Our Flagship Fund announced the acquisition of KnowBe4, a deal valued at $4.6 billion, and our Foundation Fund announced two exits. Vista was recognized by Inc. Magazine as a Founder-Friendly Investor for the third year in a row, and several of our CEOs were named to The Software Report’s list of the Top 50 SaaS CEOs of 2022.
NOVEMBER REVIEW
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Vista is a leading global investment firm with more than $94 billion in assets under management as of June 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. ©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. 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
Vista’s Founder, Chairman and CEO,
Robert F. Smith, joined Co-Heads of Vista’s Flagship Fund and Senior Managing Directors, Michael Fosnaugh and Monti Saroya, for an interview on enterprise software investing with Private Equity International. The conversation touched on Vista’s disciplined and selective investment approach, our collaborative value creation process and how we partner with
our portfolio companies to promote sustainable growth. Read the full interview here.
Vista’s Founder, Chairman and CEO,
Robert F. Smith, joined Co-Heads of Vista’s Flagship Fund and Senior Managing Directors, Michael Fosnaugh and Monti Saroya, for an interview on enterprise software investing with Private Equity International. The conversation touched on Vista’s disciplined and selective investment approach, our collaborative value creation process and how we partner with
our portfolio companies to promote sustainable growth. Read the full interview here.
Disciplined Enterprise Software Investing
“Ultimately, what helped Vista win the opportunity and close the deal in 2021 was that they know enterprise software better than anyone else, and they have a proven track record. They trust the Founders and CEOs to define the culture that will be most effective for their business.”
AARON SKONNARD, CO-FOUNDER AND CEO, PLURALSIGHT
As part of Vista Credit Partners’ continued growth, we were pleased to welcome Greg Galligan
as a Senior Managing Director. In his new role, Greg will lead our credit strategy’s direct lending program and will sit on the Vista Credit Partners Investment Committee. Greg joins the Firm with over two decades of experience, most recently serving as a Partner at Ares Management Corporation where he was responsible for building and leading Ares’ direct lending efforts in the United States.
Advancing Our
Credit Strategy
Rachel Arnold and Rene Stewart, Co-Heads
of Vista’s Endeavor Fund and Senior Managing Directors, recently spoke to RJ Lumba
on GrowthCap’s Growth Investor podcast
to discuss their experience leading the Endeavor Fund and investing in high-growth enterprise software companies. Download the episode where they share what makes a partnership successful and how their unique professional backgrounds shaped their approach to investing.
Top Women in
Growth Investing
Leading on Diversity,
Equity and Inclusion
Through our External Board Program, Vista sources board members from underrepresented backgrounds who bring diverse perspectives
and experiences to our portfolio companies.
As the Director of Vista’s External Board Program, Bessie Watts helms this initiative, and we were pleased to see her recognized by Insider as one
of the 100 People Transforming Business for her work leading the program.