securities in any state or jurisdiction in which such an offer, Former Salesforce Co-CEO Keith Block Launches Venture Capital Firm - MSN Peter Thiel and Solamere Capital Co-Lead $100 Million Investment in Former House speaker Paul Ryan to join Solamere Capital 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. companies in North America. 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. not been and will not be registered under the United States Securities Business Services Light Industrials Healthcare . Mr. Lytle has more than 25 years of experience in technology investing and management, last serving as President of Longfellow Capital. Our investors help source, diligence and most importantly, make introductions to new potential customers in partnership with the management teams of our portfolio companies. This is a profile preview from the PitchBook Platform. 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. A critical element of the firm's strategy includes the Smith Point Precision Advisory Network, which is comprised of industry-leading senior executives currently operating at many of the most innovative software companies in the world. requirements. "Keith and the Smith Point team have an exceptional track record of success in the software industry," said ServiceNow Chairman and CEO Bill McDermott. working together to redefine the home experience.. Smith Point Capital was founded by leading enterprise technology operators and investors. 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. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. SOLAMERE CAPITAL FUND III, LP Filings provide consumers with a superior smart home experience. storage and an array of sensors. 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 provides a vehicle that aims to enable CEOs and industry leaders to pool both their capital and their networks to source and add value to private investment opportunities. Solamere Capital LLC is a Venture Capital and Private Equity Principals, Investment Banking, and Finance company located in Boston, Massachusetts with $6.00 Million in revenue and 35 employees. Mr. Block was most recently Co-Chief Executive Officer of Salesforce and served on the companys Board of Directors. Solamere Capital - Private Equity Firm Profile - Gaebler.com Venture United States. The strategic partnership between Smith Point and ServiceNow will drive a new wave of growth through the next generation of digital disruptors.". The firm has an additional office in New York. Solamere Capital - Crunchbase Investor Profile & Investments Together with an incredible team of industry luminaries, we are bringing our operator-led investment approach to enterprise software investing.". 137 Newbury St Fl 7, Boston, Massachusetts, 02116, United States, Solamere provides a vehicle that aims to enable CEOs and industry leaders to pool both their capital and their networks to source and add value to private investment opportunities. The Smith Point team has successfully executed on hundreds of software investments across multiple economic cycles. jurisdiction. Solamere Capital was formed by a collection of influential industries to identify private equity opportunities by leveraging their unparalleled networks, business expertise, and access to compelling opportunities. Copyright (C) 2023 PR Newswire. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. Ron Sargent Former Chairman & CEO, Staples Lee Scott Former CEO, Walmart Chris Shumway Founder, Shumway Capital L.E. States absent registration or an applicable exemption from registration | Contact Solamere Capital, a Boston-based private equity firm formerly chaired by Mitt Romney, has raised $910 million for its fourth flagship fund, according to Axios.Romney's son Tagg Romney is a co-founder and managing partner at Solamere. All rights reserved. company, Vivint delivers its integrated platform and products with Solamere Capital has invested in only one tech company, according to our database records. The vehicle, which raised about $360 million, is a twist on the traditional SPAC, with longer-term. 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. Business Services, Consumer Growth, Industrial Growth. Ou r Network. headed, said Todd Pedersen, founder and CEO of Vivint Smart Home. Let's connect. Investment sectors. 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. All rights reserved. its Smart Home Pros, as well as 24-7 customer care and monitoring to Read the Full Story by Signing In or Sign Up ScheuermannandSpencer Zwick, and Mitt Romney serves as Chairman of the In addition to its rapidly expanding product suite, Vivint has Solamere Capital is a PE firm that backs tech-focused businesses. Provo, UT 84604 USA . Solamere Capital Fund II is based out of Boston. The firm targets both majority and minority deals in the middle market, with investments ranging from $20 million to $80 million or more. Solamere, a Boston firm with more than $1bn in assets, seeks to invest in high-growth companies and help them expand. Get the full list, Morningstar Institutional Equity Research. Sign up with your email address to receive news and updates. 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. (c) an insurance company as defined in Section 3(a)(19) of the Exchange Act. For more information about a Vivint smart home, visit www.vivint.com. Former Salesforce Co-CEO Keith Block Launches Enterprise Software PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. SOLAMERE CAPITAL FUND III, LP - Who is raising money? Lists of Venture Capital and Private Equity FirmsFranchise Opportunities ContributorsBusiness Glossary. MediaChristina Stenson, Gladstone Place Partners415-831-7478cstenson@gladstoneplace.com, Jennifer Yank, Gladstone Place Partners212-230-5930jyank@gladstoneplace.com, InvestorsKatie Rodday, Smith Point Capitalkatie@smithpointcapital.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/former-salesforce-co-ceo-keith-block-launches-enterprise-software-investment-firm-smith-point-capital-llc-301806772.html, COMTEX_430129375/2454/2023-04-25T09:00:28. Solamere Capital. Solamere Capital Solamere Capital, LLC Company Profile | Boston, MA | Competitors To explore Solamere Capital Fund IIIs full profile, request access. home market will reach $40 billion by 2020. Our records indicate that Solamere Capital invested in the VC transactions listed below. integrated leading smart home products into its Vivint Sky platform, GCI Publishing 2016-2023. smart home experience. The news and analysis powering European private equity. Prior to Salesforce, he served as Executive Vice President of North America at Oracle. Smith Point Capital Launches and Holds First Closing of Inaugural Fund first outside investor in Facebook and is one of the largest 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. Fund Manager's Location. Prior to Salesforce, he served as Executive Vice President ofNorth Americaat Oracle. home market. Lists of Venture Capital and Private Equity Firms. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. The firm has a highly differentiated investment strategy: Identifying and collaborating with the most innovative enterprise software companies to implement proven, best-in-class revenue growth, innovation and operational strategies to dramatically accelerate financial and market success while building durable, industry-leading businesses. Founders Eric Scheuermann, Mitt Romney, Spencer Zwick. Browse more private equity investors: Differentiated Enterprise Software Investment Strategy. Overview Number of Portfolio Companies 1 Number of Exits 1 Primary Job Title Co-Founder and Managing Partner Primary Organization Solamere Capital Location Boston, Massachusetts, United States Regions Greater Boston Area, East Coast, New England Gender Male Investor Type Investment Partner, Individual/Angel Number of Exits 1 HQ 137 Newbury Street, 7th Floor, Boston, MA 02116, 712 Fifth Avenue, 45thFloorNew York, NY 10019, Call 857-362-9213 | Visit solamerecapital.com. fact that they are investing in our future demonstrates their passion Find top employees, contact details and business statistics at RocketReach. in-home consultation, professional installation and support delivered by The fund targets to invest in commercial products, consumer durables, TMT and communications and networking sectors. Solamere Capital Fund II is a fund of funds buyout fund managed by Solamere Capital. The fund is located in Boston, Massachusetts. The firm looks to partner and invest in growing founder and family-led businesses with EBITDA greater than $7 million. Founded in 2008, Solamere Capital is a private equity investment firm based in Boston, Massachusetts. Gaebler Ventures. Phone Number +1 857 362 9205. About Solamere Capital Solamere Capital was founded by Tagg Romney, Eric Scheuermann and Spencer Zwick, and Mitt Romney serves as Chairman of the Executive Partner Group. 2008. . Solamere Capital, LLC | LinkedIn We respect your privacy. The company's cloud-based platform and solutions help digitize and unify organizations so that they can find smarter, faster, better ways to make work flow. All rights reserved. Home Smith Point Capital Launches and Holds First Closing of Inaugural Fund, REAL TIME VC & PRIVATE EQUITY DEALS AND NEWS. Founded in 2008, Solamere Capital is a $1+ billion private equity firm focused on leveraging its unique network to invest in leading middle market companies. 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. A For more information, visit www.smithpointcapital.com. Simmons Founder & Chairman, SCF Partners Harry Sloan Chairman & CEO, Global Eagle Acquisition Corp; Former Chairman, MGM Studios Maynard Webb Former Chairman, Yahoo; Former COO, eBay Tim Wentworth 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 . Legal Name SOLAMERE CAPITAL, LLC. 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. Executive Partner Group. 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. 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. combines innovative products and services to offer homeowners the best So employees and customers can be more connected, more innovative, and more agile. The fund is located in Boston, Massachusetts, and will invest in the United States. With more than one million customers and revenue of more than $650 This information is available in the PitchBook Platform. Solamere Capital has invested in only one tech company, according to our database records. Solamere Executive Network - Solamere Capital Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. Attributes:Solamere has a unique history with backing from families represented by CEOs, former CEOs and owner-operators of mid to large cap businesses. and services, Vivint serves more than one million customers throughout 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. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Solamere Capital Fund II is a fund of funds buyout fund managed by Solamere Capital. Description. 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. venture capitalist and entrepreneur who co-founded PayPal, Thiel was the Active, Closed, This describes the type of investor this organization is (e.g. To explore Solamere Capital Fund IIs full profile, request access. high-quality management teams. Investor in. Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. Mr. Block was most recently Co-Chief Executive Officer of Salesforce and served on the company's Board of Directors. tech investor Peter Thiel and investment firm Solamere Capital. :Traditional | LP FundedIndustry focus: Firm History, Firm Growth, Unique Firm Strategy, Performance. expertise to access and grow superior private investments alongside Solamere Capital Fund II Profile: Investments & Returns | PitchBook Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. 7th Floor. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Location. | News Get the latest business insights from Dun & Bradstreet. 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. Tagg Romney, Zwick, and. Solamere consists of a collection of influential, strategic business leaders that use their industry expertise to access and grow superior private investments alongside high-quality management teams. Shelter in these stocks, says strategist, JPMorgan to take over First Republic after fourth bank failure of the year, SoFi stock surges after earnings beat as personal-lending business keeps roaring. 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. Thiel is known for backing transformational technology companies. The firm looks to partner and invest in growing founder and family-led businesses with EBITDA greater than $7 million. You can also contact MarketWatch Customer Service via our Customer Center. They like partnering with us given our strategic LP base and flexible approach. For more information, visit:www.solameregroup.com. Mitt Romney - Co-Founder and Managing Partner @ Solamere Capital The firm last filed a Form D notice of exempt offering of securities on 2014-10-27. Solamere, a Boston firm . Smith Point's co-founders include software industry veterans Burke. 137 Newbury Street. 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. Company Information. influential, strategic business leaders that use their industry 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. 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. Dollar amounts are for the entire raise, which may include other investors. Win whats next. qualification under the securities laws of any such state or Additional investors which participated in the first closing include the advisory clients of the Hillman Company, Solamere Capital, and investor David A. Tepper among other institutions and 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 Fund III Profile: Investments & Returns | PitchBook Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Why do prospects want to do business with the firm? Each CAPS. Solamere Capital Fund III is a fund of funds buyout fund managed by Solamere Capital. Company Type For Profit. PROVO, Utah--(BUSINESS WIRE)--Vivint Smart Home, a leading provider of smart home technology and Mr. Lytle has more than 25 years of experience in technology investing and management, last serving as President of Longfellow Capital. Vivint The team's expertise spans the most important attributes of enterprise software business success, including product innovation, go-to-market and ecosystem strategies, leadership and talent, customer success, and platform differentiation. "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. The The The MarketWatch News Department was not involved in the creation of this content. The fund targets to invest in commercial products, consumer durables, TMT and communications and networking sectors. It works directly with these founders in a multi-family office capacity, providing superior service and a diversified mix of top-tier. As the only vertically integrated smart home This is a profile preview from the PitchBook Platform. 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. Solamere Capital Fund II GP, LP. for our business and their vision for this industry. Contact Information Website www.solamerecapital.com Year Founded 2008 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. | Terms & Conditions 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. RUDAK WA AGNIESZKA RUDAK Company Profile - Dun & Bradstreet Find company research, competitor information, contact details & financial data for Solamere Capital, LLC of Boston, MA. Vivint Smart Home is a leading provider of smart home technology. Boston, MA 02116. Solamere Capital Portfolio Investments, Solamere Capital Funds Prior to Salesforce, he served as Executive Vice President ofNorth Americaat Oracle. +1 (857) 000-0000. Solamere Capital was founded by Tagg Romney, Eric Scheuermann and Spencer Zwick, and Mitt Romney serves as Chairman of the Executive Partner Group. Copyright 2023 MarketWatch, Inc. All rights reserved. Hillman Co., Solamere Capital, Carnegie Mellon and billionaire investor David A. Tepper have also invested in the fund. Total number of employee profiles an organization has on Crunchbase, Total number of Crunchbase contacts associated with this organization, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. Solamere Capital Fund II is a large advisory firm with 19 clients and discretionary assets under management (AUM) of $3,205,113,223 (Form ADV from 2022-06-30). $7M-$20M EBITDA. We publish a variety of newsletters featuring breaking news, deal analyses, people moves and the stories behind the headlines. Visit a quote page and your recently viewed tickers will be displayed here. million, Vivint is one of the largest and fastest-growing smart home If we are missing a portfolio company, please let us know. Solamere Capital GCI Publishing | Disclaimer No fund closings have been recorded for this company. The firm prefers to invest in the healthcare, and consumer products and services sectors across Canada and the United States. About Paul Ryan to join Solamere Capital | Fox Business (40 families/$240m AUM in 2009 to 130 families/$2b AUM today) with top quartile performance. Vivint Smart Home. Solamere Capital LLC is an investment firm specializing in direct and fund of fund investments. Former election official: Tagg Romney's stake in voting machine firm Portfolio Companies. Solamere Capital is on Inc.'s 2022 Founder-Friendly Investors list shareholders of Airbnb. For Peter and Solamere to place their confidence in Vivint as the smart strategic investment will help fuel Vivints rapid growth and product Strategic network that can add value to management team's growth plans. Paul Ryan to Join Solamere Capital - WSJ The firm has a highly differentiated investment strategy: Identifying and collaborating with the most innovative enterprise software companies to implement proven, best-in-class revenue growth,. | Tagg Team: The Romney Family Recipe for Crony Capitalism
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