L Squared funds philanthropy software provider Foundant

• William Blair was financial advisor to Foundant on the transaction and Canaccord Genuity provided financial advice to L Squared
• Dorsey & Whitney was legal advisor to Foundant and Vedder Price provided legal counsel to L Squared
• L Squared invests in tech-enabled services, software, education technology and industrial technology & services

L Squared Capital Partners has made a significant growth investment in Bozeman, Montana-based Foundant Technologies, a provider of philanthropy software. No financial terms were disclosed.

“Foundant has been at the forefront of the technology-driven transformation of the philanthropic sector,” said Adam Kimura, a partner at L Squared. “We are excited to invest in a company that is not only driving this transformation but also helping to maximize the impact of the philanthropic community. Their innovative solutions are well-positioned to meet the growing demands of the industry, and we look forward to working with the talented team at Foundant to help them achieve their goals.”

As part of the investment, Foundant co-founders Mark Larimer and Daren Nordhagen will join the company’s board of directors.

William Blair was financial advisor to Foundant on the transaction and Canaccord Genuity provided financial advice to L Squared.

Dorsey & Whitney was legal advisor to Foundant and Vedder Price provided legal counsel to L Squared.

Based in Newport Beach, California, L Squared invests in tech-enabled services, software, education technology and industrial technology & services.