FTV Capital has closed its sixth fund at a hard cap of $1.2 billion. Kirkland & Ellis LLP served as fund counsel for FTV VI. FTV invests in enterprise technology and services, financial services, and payments and transaction processing.
San Francisco, CA and New York, NY – June 17, 2020 — FTV Capital (FTV), a prominent growth equity investment firm, today announced the close of its sixth and largest fund to date, FTV VI, at the hard cap of $1.2 billion in capital commitments from existing and new limited partners. Over its 22-year history, FTV has raised nearly $4 billion and invested in 114 innovative, high-growth companies in its core sectors: enterprise technology and services, financial services, and payments and transaction processing. The new fund will continue to pursue opportunities in these sectors with a target equity investment of $30 to $100 million, helping portfolio companies accelerate expansion.
FTV had a highly productive year in 2019 with a record of over $800 million in realizations, including a significant recapitalization of True Potential, the sale of WorldFirst to Ant Financial, the acquisition of Health Credit Services by Ally Financial, and the sale of Empyrean Benefit Solutions to Securian Financial. In the last 12 months, FTV has also committed $385 million to eight new portfolio companies including Docupace, a cloud-based digital operations software solution for wealth management; Sysnet, which provides cybersecurity and compliance solutions; Security Compass, offering enterprise DevSecOps software solutions; and Bought By Many, a London-based pet insurance provider.
FTV has consistently partnered with outstanding management teams, often as the first institutional investor, to help their companies scale and drive growth by leveraging FTV’s deep sector expertise and its Global Partner Network® — over 400 executives from many of the world’s leading financial services firms delivering transformative insights and strategic networking opportunities. FTV also leverages its team of operational experts to help support its companies in executing their ambitious, strategic plans.
“We are grateful for the ongoing trust our investors have placed in our team and our differentiated approach, which drive us to find exciting, proprietary investment opportunities,” said Brad Bernstein, managing partner at FTV Capital. “Over the years, we have made significant investments in our platform to help CEOs and founders accelerate meaningful growth – including expanded access to our dedicated business development team and commercial connections through our Global Partner Network, as well as to our operational resources in sales, marketing, human capital and technology. We see tremendous opportunities ahead given the environment around our investment themes, including contactless payments, payment fraud solutions, enterprise digitization and remote workplace management. Having successfully deployed capital through various economic cycles, we will continue to work tirelessly to support our motivated management teams’ efforts to build market-leading companies.”
“We value the continued support of our longstanding investors and welcome our new investors as we enthusiastically look forward to executing our consistent, time-tested strategy to generate compelling risk-adjusted returns for our limited partners,” commented Karen Derr Gilbert, partner and head of fundraising at FTV Capital.
The fund saw renewed commitments from many existing investors, as well as interest from new LPs, which are diversified by size, type and geography across North America, Europe, Asia-Pacific and the Middle East.
Kirkland & Ellis LLP served as fund counsel.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised nearly $4 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in 114 portfolio companies, including A-LIGN, Clearent, EBANX, Enfusion, InvestCloud, RapidRatings, ReliaQuest, Strata Fund Solutions, Sunlight Financial, VPay and exited companies EXLService (NASDAQ IPO), Financial Engines (NASDAQ IPO), Fleet One (acquired by Wright Express), Globant (NYSE IPO), MedSynergies (acquired by Optum/UnitedHealthcare), Mu Sigma (recapitalized by shareholders), PowerShares (acquired by Invesco), WorldFirst (acquired by Ant Financial).
FTV has offices in San Francisco and New York. For more information, visit www.ftvcapital.com.