Copyright (C) 2023 PR Newswire. Size of target portfolio companies. A critical element of the firms strategy includes the Smith Point Precision Advisory Network, which is comprised of senior executives currently operating at many of the most innovative software companies in the world. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. The MarketWatch News Department was not involved in the creation of this content. And H.I.G., in turn, is one of the largest partners, with nearly $10 billion of equity capital, of Solamere Capital, the investment fund founded and run by Tagg Romney (pictured), Mitt's. Lists of Venture Capital and Private Equity FirmsFranchise Opportunities ContributorsBusiness Glossary. Legal Name SOLAMERE CAPITAL, LLC. and services, Vivint serves more than one million customers throughout Mr. Norton was most recently Senior Managing Director at Vista Equity Partners, where he was co-head of Vista's Perennial Capital Fund, and was previously a senior executive and a member of the Executive Committee at Salesforce. Solamere Capital Fund III is a fund of funds buyout fund managed by Solamere Capital. Ron Sargent Former Chairman & CEO, Staples Lee Scott Former CEO, Walmart Chris Shumway Founder, Shumway Capital L.E. Investment sectors. A All rights reserved. Here's a list of some of the top trending technologies and APIs used by Solamere Capital. (c) an insurance company as defined in Section 3(a)(19) of the Exchange Act. As the only vertically integrated smart home Solamere Capital was founded byTagg Romney,Eric Ou r Network. Mr. Norton was most recently Senior Managing Director at Vista Equity Partners, where he was co-head of Vistas Perennial Capital Fund, and was previously a senior executive and a member of the Executive Committee at Salesforce. Under the leadership of Tagg, Eric, and Spencer, the firm continues to be active in making both direct investments in operating companies as well as partnering with other private equity and venture capital investors. provide consumers with a superior smart home experience. :Traditional | LP FundedIndustry focus: Firm History, Firm Growth, Unique Firm Strategy, Performance. Act of 1933, as amended, and may not be offered or sold in the United Differentiated Enterprise Software Investment Strategy. This press release shall not constitute an offer to sell or the "Smith Point's differentiated, operator-led investment strategy aligns with ServiceNow's strategy, which is focused on fostering innovation in companies and markets at the leading edge of digital transformation. Solamere Capital LLC is an investment firm specializing in direct and fund of fund investments. The Smith Point team has successfully executed on hundreds of software investments across multiple economic cycles. Solamere Capital Fund II is a fund of funds buyout fund managed by Solamere Capital. Smith Point will extend its own operating expertise by leveraging the experience and professional networks of the members of its Precision Advisory Network to foster impactful relationships with the management teams of Smith Point portfolio companies in order to accelerate responsible growth. Copyright 2001-2023. About Our Private Equity Investor Database. Ryan will join Solamere Capital, a private equity firm founded by Utah Sen. Mitt Romneys son Taggart, as well as Eric Scheuermann and Spencer Zwick, as a partner. Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. PR Newswire, SAN FRANCISCO and NEW YORK, April 25, 2023, Strategy pairs strong investing acumen with deep operating expertise to build durable, industry-leading software businesses with accelerated and responsible growth, Operating model supported by network of proven and highly respected executives from leading enterprise software businesses, ServiceNow will serve as a strategic partner and an anchor investor in Smith Point Capital Fund I. SAN FRANCISCO and NEW YORK, April 25, 2023 /PRNewswire/ -- Smith Point Capital, LLC ("Smith Point"), an operator-led enterprise software venture investment firm, today announced the launch of the firm and the first closing of its inaugural fund, Smith Point Capital Fund I. Smith Point Capital was founded by CEO Keith Block, former Co-CEO of Salesforce, together with Burke Norton and Chris Lytle, long-time software industry executives and investors. in-home consultation, professional installation and support delivered by Solamere has a committed capital structure with commitments from an expansive network of 200+ strategic investors, families, business owners and senior executives covering all major industries. Each CAPS. GCI Publishing 2016-2023. Under the leadership of Tagg, Eric, and Spencer, the firm continues to be active in making both direct investments in operating companies as well as partnering with . PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Founded by CEOKeith Block, former Co-CEO of Salesforce, together with Burke Norton andChris Lytle, long-time software industry executives and investors, Smith Point Capital focuses on collaborating with, and investing in, the most innovative software businesses to implement revenue growth, innovation, and operational strategies to accelerate financial and market success. The fund targets to invest in commercial products, consumer durables, TMT and communications and networking sectors. No fund closings have been recorded for this company. +1 (857) 000-0000. Smith Point will extend its own operating expertise by leveraging the experience and professional networks of the members of its Precision Advisory Network to foster impactful relationships with the management teams of Smith Point portfolio companies in order to accelerate responsible growth. Win whats next. This is a profile preview from the PitchBook Platform. 7th Floor. SOLAMERE CAPITAL FUND III, LP Filings All rights reserved. Gaebler Ventures. Founders Eric Scheuermann, Mitt Romney, Spencer Zwick. | Disclaimer Attributes:Solamere has a unique history with backing from families represented by CEOs, former CEOs and owner-operators of mid to large cap businesses. integrated leading smart home products into its Vivint Sky platform, Solamere's strategic network of investors provides the ability to invest patiently for the long-term, to be creative in structuring either minority or majority transactions, and to leverage the Solamere Network of investors and executives as we seek to create meaningful value for our portfolio companies. Business Services, Consumer Growth, Industrial Growth. Investor in. To explore Solamere Capital Fund IIIs full profile, request access. Thiel is known for backing transformational technology companies. So employees and customers can be more connected, more innovative, and more agile. Smith Point has set a hard cap for investor commitments of$400Mfor Fund I. Let's connect. expertise to access and grow superior private investments alongside The For more information, visitwww.vivint.com. Additional investors which participated in the first closing of Smith Point Capital Fund I include the advisory clients of the Hillman Company, Solamere Capital, and investor David A. Tepper among other institutions and individuals. Solamere Capital. SOLAMERE CAPITAL FUND III, LP Funding details SOLAMERE CAPITAL FUND III, LP Industry: Pooled Investment Fund CIK Number: 0001709949 IRS Number: 821677137 Address: 137 NEWBURY STREET, 7TH FLOOR BOSTON 02116 Phone number: (857) 362-9210. The fund is located in Boston, Massachusetts, and will invest in the United States. not been and will not be registered under the United States Securities | Advertise For Peter and Solamere to place their confidence in Vivint as the smart About https://www.prnewswire.com/news-releases/former-salesforce-co-ceo-keith-block-launches-enterprise-software-investment-firm-smith-point-capital-llc-301806772.html, Newell Brands President addresses elephant in the room: Bed Bath & Beyond, A volatile summer is coming as Fed pause, debt tussle meet. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. securities in any state or jurisdiction in which such an offer, Prior to Longfellow, he served in various senior executive roles with enterprise software companies and as a Managing Director at Morgan Stanley leading RCL Capital. ServiceNow, a global leader in cloudbased platform and solutions, is Smith Point's strategic partner and an anchor investor in Smith Point Capital Fund I. Vivint Public RelationsLiz Tanner, 801-229-6956liz.tanner@vivint.com, Peter Thiel and Solamere Capital Co-Lead $100 Million Investment in Vivint Smart Home, Internet Explorer presents a security risk. Additional investors which participated in the first closing include the advisory clients of the Hillman Company, Solamere Capital, and investorDavid A. Tepperamong other institutions and individuals. Mr. Ryan will join Solamere Capital, a private-equity firm founded by Utah Sen. Mitt Romney's son Taggart, as well as Eric Scheuermann and Spencer Zwick, as a partner. Solamere Capital was the main sponsor of Mr. Ryan's SPAC, Executive Network Partnering Corp. Year Founded. View contacts for Solamere Capital to access new leads and connect with decision-makers. The firm has an additional office in New York. Get the full list, To view Solamere Capital Fund IIs complete team members history, request access, Youre viewing 5 of 34 funds. This is a profile preview from the PitchBook Platform. Prior to Longfellow, he served in various senior executive roles with enterprise software companies and as a Managing Director at Morgan Stanley leading RCL Capital. Sign up with your email address to receive news and updates. Smith Point Capital, LLC, a San Francisco, CA and NYC-based operator-led enterprise software venture investment firm, launched the firm and held the first closing of . Contact Information Website www.solamerecapital.com Year Founded 2008 working together to redefine the home experience.. The strategic partnership between Smith Point and ServiceNow will drive a new wave of growth through the next generation of digital disruptors.". Top investors validate Vivints winning smart home strategy. The Boston, MA-based company plans to raise $300 million by offering 12 million units, which the company calls CAPS (Capital which Aligns and Partners with a Sponsor), at $25. The firm believes that the combination of software investing acumen and operating expertise makes Smith Point Capital uniquely qualified to address the needs of software companies operating in today's challenging environment. in-home consultation, professional installation and support delivered by Three of the firms listed in the Solamere prospectusSun Capital Partners, TPG Capital and TA Associatesare currently financing a lobbying campaign under a trade group called the Private. ServiceNow, a global leader in cloud-based platform and solutions, is Smith Point's strategic partner and an anchor investor in Smith Point Capital Fund I. The firm looks to partner and invest in growing founder and family-led businesses with EBITDA greater than $7 million. With the accelerating pace of digital transformation, the increasingly mission-critical nature of software across all industries and geographies, and the dramatic reset in valuations, the Smith Point team believes the firm's launch could not come at a more promising moment to invest in, and help build, durable, industry-leading enterprise software businesses. Solamere Capital serves as a multi-family office focusing on superior private equity opportunities. first outside investor in Facebook and is one of the largest This PE firm profile is powered by VentureDeal.com, a leading supplier of private equity firm tech funding data. ScheuermannandSpencer Zwick, and Mitt Romney serves as Chairman of the Solamere Capital Fund II is a fund of funds buyout fund managed by Solamere Capital. It works directly with these founders in a multi-family office capacity, providing superior service and a diversified mix of top-tier. Solamere, a Boston firm . If we are missing a portfolio company, please let us know. fact that they are investing in our future demonstrates their passion With more than one million customers and revenue of more than $650 The news and analysis powering European private equity. Read the Full Story by Signing In or Sign Up requirements. jurisdiction. Angel, Fund of Funds, Venture Capital), Whether an Organization is for profit or non-profit, General contact email for the organization, Edit Lists Featuring This Company Section, Mitt Romney's firm returns with third fund, New England Investors with Funds Raised in 2014, East Coast Investors with Funds Raised in 2018. Mr. Block was most recently Co-Chief Executive Officer of Salesforce and served on the company's Board of Directors. The Smith Point team's decades of experience as highly successful enterprise software operators and investors forms the foundation of the firm's differentiated strategy. Solamere's investment model . Active, Closed, This describes the type of investor this organization is (e.g. Vivint solicitation of an offer to buy, nor shall there be any sale of these Solamere, a Boston firm with more than $1bn in assets, seeks to invest in high-growth companies and help them expand Glennmont Partners sells Portuguese solar portfolio, Adviser to Carlyle co-founder David Rubensteins family office registers with the SEC, TPGs Rise Fund II moves closer to target amid rise of impact investing, Game on: Meet the PE firms building sports empires. In 2008, Solamere set out to raise $200 million, and by May 2009 it had attracted $186 million from 39 investors, according to Securities and Exchange Commission records. shareholders of Airbnb. Smith Point Capital, a San Francisco, CA and NYC-based operator-led enterprise software venture investment firm, launched the firm and held the first closing of its inaugural fund, Smith Point Capital Fund I. ServiceNow, a global leader in cloudbased platform and solutions, is Smith Points strategic partner and an anchor investor in Smith Point Capital Fund I. Mr. Lytle has more than 25 years of experience in technology investing and management, last serving as President of Longfellow Capital.
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