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 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. Smith Point Capital Launches and Holds First Closing of Inaugural Fund services, today announced a $100 million equity investment co-led by Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. 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. 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. 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. (40 families/$240m AUM in 2009 to 130 families/$2b AUM today) with top quartile performance. Thiel is known for backing transformational technology companies. 137 Newbury Street. Copyright 2001-2023. 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, 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-home consultation, professional installation and support delivered by This PE firm profile is powered by VentureDeal.com, a leading supplier of private equity firm tech funding data. 2008. . Solamere Capital serves as a multi-family office focusing on superior private equity opportunities. Contact the source provider Comtex at editorial@comtex.com. 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. and services, Vivint serves more than one million customers throughout Number of Exits 1. Dedicated to redefining the home experience with intelligent products This information is available in the PitchBook Platform. Contact Information Website www.solamerecapital.com Year Founded 2008 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. storage and an array of sensors. requirements. We publish a variety of newsletters featuring breaking news, deal analyses, people moves and the stories behind the headlines. The Daily Deal Newsletter, Smith Point Capital Launches and Holds First Closing of Inaugural Fund. 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 . Company Information. influential, strategic business leaders that use their industry 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. 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. Operating Status Active. solicitation of an offer to buy, nor shall there be any sale of these Let's connect. The firm has an additional office in New York. Peter Thiel and Solamere Capital Co-Lead $100 Million Investment in Solamere Capital Portfolio Investments, Solamere Capital Funds Solamere Capital was founded by Tagg Romney, Eric Scheuermann and Spencer Zwick, and Mitt Romney serves as Chairman of the Executive Partner Group. With more than one million customers and revenue of more than $650 Solamere, a Boston firm . SOLAMERE CAPITAL FUND III, LP - Who is raising money? Headquarters Location 137 Newbury Street Seventh Floor Boston, Massachusetts, 02116, United States Suggest an edit Want to inform investors similar to Solamere Capital about your company? Dollar amounts are for the entire raise, which may include other investors. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. | Contact This is a profile preview from the PitchBook Platform. (d) an investment company registered under Section 8 of the Investment Company Act. Solamere Capital is a PE firm that backs tech-focused businesses. strategic investment will help fuel Vivints rapid growth and product headed, said Todd Pedersen, founder and CEO of Vivint Smart Home. provide consumers with a superior smart home experience. 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. Former Salesforce Co-CEO Keith Block Launches Enterprise Software 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. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Strategic network that can add value to management team's growth plans. Phone Number +1 857 362 9205. 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. Win whats next. In addition, Smith Point's Managing Directors each have decades of experience building enterprise software businesses, fueling innovation, and implementing proven operational strategies to dramatically grow and scale some of the world's leading enterprise software companies. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Solamere Capital has invested in only one tech company, according to our database records. 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. Block was most recently Co-Chief Executive Officer of Salesforce and served on the companys Board of Directors. Business Services, Consumer Growth, Industrial Growth. Get the latest business insights from Dun & Bradstreet. securities in any state or jurisdiction in which such an offer, The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. This information is available in the PitchBook Platform. Solamere Executive Network - Solamere Capital The strategic partnership between Smith Point and ServiceNow will drive a new wave of growth through the next generation of digital disruptors.". in-home consultation, professional installation and support delivered by $7M-$20M EBITDA. 2023 PitchBook. Copyright (C) 2023 PR Newswire. 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. We look forward to Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. venture capitalist and entrepreneur who co-founded PayPal, Thiel was the innovation as it extends its preeminent position in the growing smart 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. This press release shall not constitute an offer to sell or the 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 helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. 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 Former election official: Tagg Romney's stake in voting machine firm Solamere Capital Fund II GP, LP. Location. Differentiated Enterprise Software Investment Strategy. 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. Tagg Team: The Romney Family Recipe for Crony Capitalism Read the Full Story by Signing In or Sign Up home market will reach $40 billion by 2020. Check The Appropriate Box if a Member of a Group (See Instructions) . Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini. The firm looks to partner and invest in growing founder and family-led businesses with EBITDA greater than $7 million. | News Lists of Venture Capital and Private Equity Firms. Solamere Capital Company Profile | Management and Employees List first outside investor in Facebook and is one of the largest GCI Publishing 2016-2023. Former Salesforce Co-CEO Keith Block Launches Enterprise Software Investment Firm, Smith Point Capital, LLC, Apr 25, 2023 (PRNewswire via COMTEX) -- million, Vivint is one of the largest and fastest-growing smart home Vivint Smart Home is a leading provider of smart home technology. "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. Home Smith Point Capital Launches and Holds First Closing of Inaugural Fund, REAL TIME VC & PRIVATE EQUITY DEALS AND NEWS. Solamere Capital is a $2 billion multi-strategy private equity investment firm founded in 2008 that 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. Is there a problem with this press release? Browse more private equity investors: Mitt Romney's old firm raises $910M | PitchBook Vivint offers a custom platform with integrated smart home products, including the Amazon Echo and the Nest Learning Thermostat. Solamere Capital was founded byTagg Romney,Eric Description. Top investors validate Vivints winning smart home strategy. Smith Point Capital Launches and Holds First Closing of Inaugural Fund Prior to Salesforce, he served as Executive Vice President ofNorth Americaat Oracle. Ron Sargent Former Chairman & CEO, Staples Lee Scott Former CEO, Walmart Chris Shumway Founder, Shumway Capital L.E. Founded Date 2008. Solamere Capital 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. 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. "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. Each CAPS. Solamere Capital GCI Publishing Gaebler Ventures. Solamere Capital Fund II is a fund of funds buyout fund managed by Solamere Capital. In addition to its rapidly expanding product suite, Vivint has So employees and customers can be more connected, more innovative, and more agile. The fund targets to invest in commercial products, consumer durables, TMT and communications and networking sectors. The shares of equity securities offered in the private placement have The firm's approach focuses on collaborating with, and investing in, the most innovative software businesses to implement proven, best-in-class revenue growth, innovation, and operational strategies to dramatically accelerate financial and market success. View contacts for Solamere Capital to access new leads and connect with decision-makers. Smith Point has set a hard cap for investor commitments of$400Mfor Fund I. Vivint Smart Home. its Smart Home Pros, as well as 24-7 customer care and monitoring. Solamere Capital LLC: Contact Details and Business Profile - RocketReach The Solamere consists of a collection of SOLAMERE CAPITAL FUND II, LP Top 13F Holdings - WhaleWisdom.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 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. 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). For more information, visit www.smithpointcapital.com. Solamere Capital. "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. 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 Investor Profile: Portfolio & Exits | PitchBook Why do prospects want to do business with the firm? Get the latest business insights from Dun & Bradstreet. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported.
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