TVC Capital, a software-focused private equity firm, has closed TVC Capital II, a $75 million growth equity and buyout fund. The firm is based in San Diego, CA.
TVC Capital LLC, a software-focused private equity firm, announced today that it has closed TVC Capital II, a $75 million growth equity and buyout fund. In reaching the Fund’s fundraising target, TVC received strong support from new and existing investors which include well-respected private equity fund of funds, institutional asset managers and family offices. The firm is based in San Diego, CA.
Through TVC Capital II, TVC will remain focused on investments in and acquisitions of software companies and software-enabled service firms throughout the U.S. The firm targets software companies that are at or tracking towards profitability, meet a mission-critical need of their customer base, and are in need of capital to accelerate growth.
TVC has a differentiated investment philosophy emphasizing operational value creation and working “in the trenches” with management teams to maximize value and position for a profitable exit. The strategy leverages the team’s 60+ years of experience in technology leadership, executive management, public and private board participation, and strategic transaction advisory.
Managing Partners Jeb Spencer and Steven Hamerslag commented, “After demonstrating the validity of our investment thesis in TVC I, we are excited to now be investing TVC II. We appreciate the continued support of our existing investors and are pleased to welcome our new limited partners. We are very focused on continued strong performance by investing with strong management teams who have created unique businesses with great long term potential.”
TVC Capital I saw two successful exits in 2011 including the sale of Accordent Technologies to Polycom, Inc. (NASDAQ: PLCM) and the sale of Del Mar Datatrac to Ellie Mae, Inc. (NYSE: ELLI). The sale of Accordent Technologies was recognized by the Los Angeles Area Venture Association (LAVA) as the “Most Efficient Capital Exit of the Year” and the Del Mar Datatrac transaction was named a finalist in Thomson Reuters’ Buyout Deal of the Year awards in both the Small Market Deal of the Year and Turnaround Deal of the Year categories.
TVC Capital was co-founded by Steven Hamerslag and Jeb Spencer in 2006 and the duo continues to serve as Managing Partners of the firm. Additional team members include Christopher Noser, Mykel Sprinkles and Joanne Ward.
About TVC Capital LLC
TVC Capital is a San Diego-based private equity firm focused on investments in and acquisitions of software companies and software-enabled service firms. TVC Capital targets a wide spectrum of software sectors and industry verticals that are poised for growth and consolidation. The TVC team includes operating executives with more than 60 years of experience growing technology companies into market leaders. TVC Capital I portfolio companies included Accordent Technologies and Del Mar Datatrac, and current investments include Mercent Corporation and IQ for Business, among others.