Palisades Growth Capital has sold its ownership stake in Los Angeles-based Docupace, a provider of cloud-based digital operations software for the wealth management industry, to FTV Capital. No financial terms were disclosed. Raymond James & Associates Inc was financial advisor to Docupace while Gunderson Dettmer Stough Villeneuve Franklin & Hachigian provided legal counsel.
Los Angeles, April 29, 2020 – Palisades Growth Capital, a growth equity investment firm based in Los Angeles, today announced that it has sold its ownership interest in its portfolio company Docupace, the leading independent provider of cloud-based digital operations software for the wealth management industry, to FTV Capital. Financial terms of the transaction were not disclosed.
Mark Tapling, CEO of Docupace, commented, “It was a pleasure to work with Palisades Growth, whose guidance and capital helped enhance the intrinsic value of our business. They were impactful in supporting our strategic vision and by recruiting management talent that has led to this compelling outcome for all.”
Paul D’Addario, Co-Managing Partner of Palisades Growth, stated, “We are very proud of our successful investment in Docupace. Under the leadership of Mark Tapling and through our successful partnership with Jeb Spencer, Managing Partner of TVC Capital, together achieved our shared vision of creating the leading platform of its type for the wealth management industry. We wish the team continued success.”
Raymond James & Associates, Inc. acted as exclusive financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian acted as legal counsel to Docupace.
About Palisades Growth
Palisades Growth Capital is a Los Angeles-based private equity fund which makes growth stage investments into leading B2B expansion stage software and technology-enabled companies. The fund seeks to partner with exceptional entrepreneurs where we can work closely with management to help companies grow, scale operations and build a winning team and culture. For more information, please visit www.palisadesgrowth.com.
Docupace is a leading digital operations technology provider that simplifies how wealth management firms process and digitize data, increasing efficiency, productivity, and profits. With the secure, cloud-based Docupace Platform, the Docupace team provides a suite of digital solutions that helps broker-dealers, RIAs, and their advisors streamline and automate client onboarding, document management, advisor transitions, cybersecurity, and other critical workflows while maintaining SEC and FINRA compliance. With headquarters in Los Angeles, California, Docupace is proud to serve a variety of firms, including some of the largest in the financial services industry, through a combination of proven technology and hands-on service. For more information, please visit www.docupace.com.