strategic investment will help fuel Vivints rapid growth and product The firm targets both majority and minority deals in the middle market, with investments ranging from $20 million to $80 million or more. The strategic partnership between Smith Point and ServiceNow will drive a new wave of growth through the next generation of digital disruptors.". 2. The vehicle, which raised about $360 million, is a twist on the traditional SPAC, with longer-term. Solamere Capital Fund II GP, LP. Contact the source provider Comtex at [email protected]. Home Smith Point Capital Launches and Holds First Closing of Inaugural Fund, REAL TIME VC & PRIVATE EQUITY DEALS AND NEWS. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. 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. "Over the course of my career, I've seen the power of putting the right investment together with the right operational expertise to accelerate growth and build industry-leading businesses," said Keith Block, Founder and CEO of Smith Point. The Description. Ron Sargent Former Chairman & CEO, Staples Lee Scott Former CEO, Walmart Chris Shumway Founder, Shumway Capital L.E. Smith Point has set a hard cap for investor commitments of$400Mfor Fund I. Solamere Capital Fund II is based out of Boston. 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. "We founded Smith Point to meet the needs of growth-stage enterprise software entrepreneurs who need capital and real-world operational guidance from industry veterans in order to achieve the full potential of their businesses. 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. Copyright 2023 MarketWatch, Inc. All rights reserved. Mr. Lytle has more than 25 years of experience in technology investing and management, last serving as President of Longfellow Capital. Former Salesforce Co-CEO Keith Block Launches Enterprise Software Investment Firm, Smith Point Capital, LLC, Apr 25, 2023 (PRNewswire via COMTEX) -- 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. The shares of equity securities offered in the private placement have 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. Solamere Capital was founded byTagg Romney,Eric Contact Information Website www.solamerecapital.com Year Founded 2008 Firm Inception:2008Number of Active Portfolio Investments:31Number of Realized Investments:25Investment Range:$30 - $60MCurrent Fund:Fund IIICurrent Fund Size:$650M, Leadership:Tagg Romney Co-Founder & Managing PartnerEric Scheuermann Co-Founder & Managing PartnerSpencer Zwick Co-Founder & Managing PartnerScott Hutchins PartnerPaul Ryan PartnerVaibhav Saraiya Partner, Team Members:24Primary Address:137 Newbury Street, 7th Floor, Boston, MA 02116Website:solamerecapital.comPhone Number:857-362-9213Which best describes the firm? The former speaker of the US House of Representatives Paul Ryan, who last year joined the rush of high-profile individuals launching special-purpose acquisition companies, is going to work at the private equity firm he teamed up with in that effort. Hillman Co., Solamere Capital, Carnegie Mellon and billionaire investor David A. Tepper have also invested in the fund. 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. North Atlantic States Carpenters Pension Fund, To view Solamere Capital Fund IIIs complete limited partners history, request access, Morningstar Institutional Equity Research. For Peter and Solamere to place their confidence in Vivint as the smart combines innovative products and services to offer homeowners the best Business Services, Consumer Growth, Industrial Growth. | News Solamere's investment model . United States. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. We respect your privacy. 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. million, Vivint is one of the largest and fastest-growing smart home All rights reserved. the U.S. and Canada. Investor in. 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. Act of 1933, as amended, and may not be offered or sold in the United Fund Manager's Location. 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. No fund closings have been recorded for this company. The fund targets to invest in commercial products, consumer durables, TMT and communications and networking sectors. and services, Vivint serves more than one million customers throughout smart home experience. "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. Win whats next. 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. For more information, visit www.smithpointcapital.com. 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 . To explore Solamere Capital Fund IIIs full profile, request access. 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. Solamere Capital is a PE firm that backs tech-focused businesses. 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. 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. All rights reserved. home leader is a huge validation of what we have built and where we are Your information will not be made available to third-parties. Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. Copyright 2001-2023. Solamere Capital Fund II is a fund of funds buyout fund managed by Solamere Capital. Solamere Capital has invested in only one tech company, according to our database records. Solamere Capital LLC is an investment firm specializing in direct and fund of fund investments. Is there a problem with this press release? integrated leading smart home products into its Vivint Sky platform, home market. 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. For more information about a Vivint smart home, visit www.vivint.com. Published on April 25, 2023. 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). Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. 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. | Portfolio Companies. Top investors validate Vivints winning smart home strategy. solicitation of an offer to buy, nor shall there be any sale of these States absent registration or an applicable exemption from registration 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. company, Vivint delivers its integrated platform and products with requirements. ScheuermannandSpencer Zwick, and Mitt Romney serves as Chairman of the expertise to access and grow superior private investments alongside its Smart Home Pros, as well as 24-7 customer care and monitoring to Solamere Capital Fund II is a fund of funds buyout fund managed by Solamere Capital. 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. including the Amazon Echo and the Nest Learning Thermostat. 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. Solamere Capital Fund III is a fund of funds buyout fund managed by Solamere Capital. The Solamere has a committed capital . Together with an incredible team of industry luminaries, we are bringing our operator-led investment approach to enterprise software investing.". Phone Number +1 857 362 9205. Check The Appropriate Box if a Member of a Group (See Instructions) . Lists of Venture Capital and Private Equity Firms. As the only vertically integrated smart home San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. for our business and their vision for this industry. | Advertise "Keith and the Smith Point team have an exceptional track record of success in the software industry," said ServiceNow Chairman and CEO Bill McDermott. (c) an insurance company as defined in Section 3(a)(19) of the Exchange Act. | Terms & Conditions solicitation or sale would be unlawful prior to registration or If we are missing a portfolio company, please let us know. Active, Closed, This describes the type of investor this organization is (e.g. The firm looks to partner and invest in growing founder and family-led businesses with EBITDA greater than $7 million. It works directly with these founders in a multi-family office capacity, providing superior service and a diversified mix of top-tier. Visit a quote page and your recently viewed tickers will be displayed here. Solamere Capital has invested in only one tech company, according to our database records. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. 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. Prior to Salesforce, he served as Executive Vice President of North America at Oracle. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. All rights reserved. With more than one million customers and revenue of more than $650 in-home consultation, professional installation and support delivered by PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Each CAPS. Company Type For Profit. 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. including smart door locks, thermostat, cameras, doorbell camera, cloud About Our Private Equity Investor Database. +1 (857) 000-0000. Prior to Salesforce, he served as Executive Vice President ofNorth Americaat Oracle. The company pairs its technology with headed, said Todd Pedersen, founder and CEO of Vivint Smart Home. Ou r Network. securities in any state or jurisdiction in which such an offer, 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. 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. Vivint Smart Home is a leading provider of smart home technology. innovation as it extends its preeminent position in the growing smart venture capitalist and entrepreneur who co-founded PayPal, Thiel was the 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. Here's a list of some of the top trending technologies and APIs used by Solamere Capital. Operating Status Active. This is a profile preview from the PitchBook Platform. All rights reserved. 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. Executive Partner Group. 2023 PitchBook. Why do intermediaries present opportunities and want to conduct transactions with the firm? (d) an investment company registered under Section 8 of the Investment Company Act. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Strategic network that can add value to management team's growth plans. Mr. Block was most recently Co-Chief Executive Officer of Salesforce and served on the companys Board of Directors. Legal Name SOLAMERE CAPITAL, LLC. Mr. Lytle has more than 25 years of experience in technology investing and management, last serving as President of Longfellow Capital. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Strategy Analytics estimates that the smart This information is available in the PitchBook Platform. tech investor Peter Thiel and investment firm Solamere Capital. Founders Eric Scheuermann, Mitt Romney, Spencer Zwick. Contact Email [email protected]. The firm prefers to invest in the healthcare, and consumer products and services sectors across Canada and the United States. Dedicated to redefining the home experience with intelligent products Solamere Capital serves as a multi-family office focusing on superior private equity opportunities. Dollar amounts are for the entire raise, which may include other investors. 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.