Sageview wraps up third fund at $710m

Sageview Capital has closed its third fund at $710 million, beating its $600 million target. Fund III will focus on software and tech-enabled businesses. Founded in 2006, Sageview has deployed over $1.1 billion across 28 growth capital investments, according to the firm.

PRESS RELEASE

GREENWICH, Conn. and PALO ALTO, Calif., Aug. 12, 2021 /PRNewswire/ — Sageview Capital LP, a private investment firm focused on providing growth capital and operational support to leading tech-enabled businesses, announced the final closing of Sageview Capital Partners III (“Fund III”). The Fund exceeded its target of $600 million and was oversubscribed, closing at $710 million. Consistent with prior funds, the Sageview Capital team is the largest single investor in Fund III, creating strong alignment with the firm’s investors and the entrepreneurs it backs.

Fund III will continue Sageview Capital’s successful strategy of providing growth capital and operational support to fast-growing software and tech-enabled businesses that are well-positioned to be industry leaders, with ambitious management teams and category-leading products and services. Sageview Capital manages a concentrated portfolio of roughly 15 investments to ensure high-level focus and involvement in each company. As active partners, the Sageview Capital team leverages its industry experience, extensive Global 2000 network, and deep operational expertise to help its companies grow and reach their potential.

“We are grateful for the support received from both our existing and new investors and look forward to executing our proven investment strategy. The Fund has already made six compelling investments. We are currently evaluating many more, each with the potential to realize strong returns for our investors and all stakeholders,” said Scott Stuart, Co-Founder and Managing Partner at Sageview Capital.

Select Highlights:
– Fund III is off to a strong start, with roughly 25% of the capital deployed across six investments including, Drivewyze, CallRail, Carewell, Pax8, Specright, and XSELL Technologies.
– Sageview Capital most recently announced that its portfolio company Pantheon raised $100 million from Softbank’s Vision Fund II at a $1 billion-plus pre-money valuation, making it one of Silicon Valley’s latest unicorns.
– Sageview Capital is generally the first institutional capital within each portfolio company investment. For instance, the firm was an early investor in Avalara (2011), when the company had roughly $25 million in revenue. Today, Avalara has grown its annual revenues to over $500 million.
– Across its first two funds, five portfolio companies of Sageview Capital have had initial public offerings, including Avalara and GoPro, and six portfolio companies have been exited via strategic sales, including the recent sale of Reflexis Systems to Zebra Technologies for $575 million.

“We’re proud of the team we’ve built and the success we’ve had to date. With this new pool of capital, we’re excited to build on our record of investing in exceptional software and tech-enabled businesses. We will continue to leverage the firm’s expertise to support our entrepreneurial partners and scale companies that are well-positioned to become the industry leaders of tomorrow,” said Ned Gilhuly, Co-Founder and Managing Partner at Sageview Capital.

About Sageview Capital
Sageview Capital LP is a private investment firm focused on providing growth capital and operational support to leading tech-enabled businesses. As active partners, we leverage our decades of industry experience, operational expertise, and extensive network to drive long-term value for our portfolio companies. The firm’s investments include 360insights, Aceable, Brandwatch, CallRail, Carewell, Demandbase, Drivewyze, Elastic Path, Ezoic, MetricStream, NAM, Pantheon, Pax8, Specright, Theatro, Womply, and XSELL Technologies, among others. Sageview Capital was founded in 2006 and has deployed over $1.1 billion across 28 growth capital investments. The firm has offices in Greenwich, Connecticut, and Palo Alto, California.