| | | InTandem’s Cano Health awaits final bids, Lightyear, Ontario Teachers’ acquire wealth management firm Allworth Financial, Charlesbank hits the wobbly markets with next flagship pool | | | | Wednesday, October 21, 2020 | | | | | Happy Wednesday, Dear Tech Take Readers!
Just In: Spectrum Equity is set to make 8x on the sale of ExamSoft after a six-year hold, sources familiar with the matter told me.
The firm this morning announced the sale of ExamSoft, a software-based assessment platform, to Turnitin, a provider of academic integrity and assessment solutions.
The combined company is set to become a single destination for academic integrity and offer institutions flexible options for delivering both remote and in-person assessments, the firm said.
ExamSoft is poised to return its investors over the third of the Fund VI’s invested capital, the people said.
Stay tuned for more in my upcoming story. |
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| | | Top Scoops | | | FTV Capital, a growth equity firm specializing in FinTech and enterprise technology, recently closed its 11th investment in 2020 — a pacing record for the firm.
I spoke to Brad Bernstein, managing partner, to discuss FTV’s investing through covid-19, the firm’s DNA of backing bootstrap businesses and its evolution from VC to growth equity.
Here is a snippet from our conversation. Read the full interview here:
How does FTV differentiate through its sourcing strategy?
Brad Bernstein: FTV was founded on the idea of investing in the intersection of financial services and technology innovation with a network of strategic advisors, which initially were our investors. Over time we evolved it into a very rich network that we call our Global Partner Network. That network has informed our business model. We are trying to listen to that network as to where their pain points are, where the opportunities are, what do they need and then go out and find companies that are innovating, that are adding value, that could be relevant. |
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| | The fledgling effort to include private equity as part of defined contribution plans could be vulnerable in a Democratic victory in November, sources told Buyouts.
“We would expect there to be the potential for rollback on this [Department of Labor] guidance given Democratic opposition to private equity in retail investor retirement plans,” said a private equity source with connections to Washington, DC. Read it here on Buyouts.
Have a great day! Reach me with your thoughts at mvinn@buyoutsinsider.com.
HOUSEKEEPING
Wanted: VCJ’s Rising Stars
It’s that time of the year. Over at Venture Capital Journal, editor Alastair Goldfisher and the team are looking for nominations for their second annual Rising Stars list. VCJ is seeking to identify the most talented and up-and-coming professionals in the venture capital community. Click here for more information on how you can submit your favorite Rising Star. | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Linden invests in Vital Care | | Linden Capital Partners has made a majority investment in Meridian, Mississippi-based Vital Care Inc, a franchisor of home infusion services. More... |
| | | | | | | | | | | | PE-backed Continental Mapping buys TSG | | Continental Mapping Consultants LLC, which is backed by Bluestone Investment Partners, has acquired TSG Solutions Inc, a provider of situational awareness, geospatial services, and proprietary solutions for secured and unclassified environments More... |
| | | | | | | | | | | | PE-backed Katena acquires Micro-Select | | Katena Products has acquired St. Clair, Missouri-based Micro-Select Instruments Inc, a maker of high precision ophthalmic instruments including forceps, needle holders and speculums. More... |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Wayflyer snags $10.2m seed | | New York City and London-based Wayflyer, an ecommerce revenue-based financing and marketing analytics platform, has raised $10.2 million in seed funding. More... |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Perch lands $123.5m | | Perch, a technology-driven commerce company that acquires and operates Amazon FBA businesses, has secured $123.5 million in financing. More... |
| | | | | | | | | | | | | | | | | | | | Qualcomm backs AiFi | | AiFi Inc, a provider of advanced autonomous store technology, has raised funding, bringing its total tally to $30 million. More... |
| | | | SunRoof lands funding | | SunRoof, a Swedish-Polish start-up developing solar roofs and facades in addition to smart energy management solutions, has raised 2 million euros in funding. More... |
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