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Sievo, a procurement analytics SaaS provider for data-driven enterprises, today announced it has raised $44 million in growth investment from Susquehanna Growth Equity (SGE), an entrepreneur-centric growth equity firm exclusively focused on software and information services.
This partnership marks Sievo’s first institutional investment since its founding in 2003. In conjunction with the transaction, Ben Weinberg and Aneesha Raghunathan from SGE will join the Company’s Board of Directors.
Through its partnership with SGE, Sievo will grow its US presence from its Chicago office, with plans to scale both its team and client base within the US market. The Company
GiveCampus, a fundraising platform for nonprofit educational institutions, has closed a $50 million minority growth equity investment led by Silversmith Capital Partners, a Boston-based growth equity firm.
Several individual investors also participated in the financing including Y Combinator’s Michael Seibel, Stripe’s Claire Hughes Johnson and founding HubSpot team member, Mike Volpe.
As part of the investment, Silversmith has committed significant additional capital to provide GiveCampus employees with liquidity through a tender offer.
The financing marks the first time the bootstrapped company has raised capital since raising less than $1 million from family, friends, angel investors, and Y Combinator in 2015.
Squire Patton Boggs has appointed private equity lawyer Arnaud Lafarge as a partner in its Corporate practice in Paris. Lafarge joins from Lamy Lexel, and is accompanied by two associates, Nicolas Leveque and Eva Jouannic.
Lafarge joins a Corporate team in France significantly bolstered by the recent arrivals of private equity lawyers Maxime Dequesne and Anthony Guillaume, and private equity finance and tax specialists Benjamin Marché and Charles Briand, and his appointment is the eighth partner hire in the firm’s Paris office since summer 2021.
Lafarge is an experienced private equity and corporate lawyer, advising funds, private and listed companies
Tailwind Capital (Tailwind) has completed the sale of Stratix Corporation (Stratix), a provider of Managed Mobility Services (MMS), to LLR Partners. As part of the transaction, Tailwind will retain an equity stake in the company alongside LLR Partners.
Terms of the transaction have not been disclosed.
Stratix helps companies adopt and manage mobile-first and mobile-only strategies that improve productivity, automate workflows and create better experiences for users and customers. The company leverages almost four decades of expertise to accelerate and inspire mobility transformation for some of the world’s largest organisations across multiple verticals, including retail, hospitality, transportation, education, healthcare, manufacturing
WindRose Health Investors (WindRose), a New York-based healthcare private equity firm, has completed an investment in Third Wave Recovery Systems (TWRx), a provider of rebate administration services for hospitals, long-term care (LTC) facilities, and select specialty physician groups.
Terms of the transaction have not been disclosed.
In conjunction with WindRose’s investment, TWRx acquired SRX, a specialist in pharmaceutical rebate management services for the skilled nursing and LTC industry. The Company appointed a new executive team to lead the combined entity, including CEO Ed Lagerstrom, former President of UnitedHealthcare Networks.
WindRose’s investment in TWRx will support the Company’s strong
Digital Transformation Capital Partners (DTCP) has successfully completed the first closing of its Growth Equity III Fund (GE III) at $300 million. The Fund was launched in March 2022 and has raised capital from new and existing investors including Deutsche Telekom and SoftBank Group International, alongside other institutional, pension fund, corporate, and family office investors. DTCP plans to continue to raise significant capital for the Fund and aims to close fundraising in 2023.
Following the proven proprietary data-driven investment strategy of DTCP, GE III invests in cloud-based enterprise software and business Software-as-a-Service (SaaS) companies in the fields of cybersecurity, web3, AI,
Bregal Sagemount, a growth-focused private equity firm, has made a significant minority investment in Solo, a provider of solar sales, proposal and design software.
In 2017, Solo was the first to market with the introduction of their one-touch-close system. Today, Solo continues to enhance and expand its platform with best-in-class accuracy, real-time visualisation features, proprietary measurement and calculation engine, presale and educational tools, and integrated partner and lender solutions.
The Solo and Sagemount partnership is aligned by a shared vision of accelerating growth and speed to market through technology and talent. The investment will be used to fuel further growth
BEX Capital, a private equity secondaries specialist, has promoted Thomas Carbonel and Alexis Ferrer to Senior Partner.
BEX Capital, founded in France in 2010, is the first and only secondaries firm to be solely dedicated to the acquisition of positions in global private equity fund-of-funds, secondary funds and co-investment funds. It has over $1.3 billion of capital under management.
This summer, the firm also hired a Vice President and three Associates to join the investment team. These hires are in line with the continued growth of BEX Capital’s assets under management and deal flow, following the close of its fourth
CoverTree, one of the first ever digital insurance solutions for residents of manufactured homes, has raised a total of $10 million in a seed funding round co-led by AV8 Ventures and Distributed Ventures.
Detroit Venture Partners, Ludlow Ventures, and Annox Capital also participated in the round.
CoverTree will use funding for team growth, state and product line expansion, expansion of technology that includes distribution portals and further automated underwriting, as well as investment in the company’s major partners.
Late-stage VC is being hit hardest by the much reported ‘reset’ in valuations, as the number of high-profile examples snowballs through 2022. In a Private Equity Wire survey in July, over half of all respondents (53%) expected to see a markdown in the valuation of their VC investments in 2022, compared to 2021
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