You can also contact MarketWatch Customer Service via our Customer Center. The 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. Solamere Capital LLC is a Venture Capital and Private Equity Principals, Investment Banking, and Finance company located in Boston, Massachusetts with $6.00 Million in revenue and 35 employees. Paul Ryan to Join Solamere Capital - WSJ 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? 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). Mitt Romney Has a Huge New Conflict-of-Interest Problem This PE firm profile is powered by VentureDeal.com, a leading supplier of private equity firm tech funding data. Solamere has a committed capital . Solamere Capital Why do intermediaries present opportunities and want to conduct transactions with the firm? Operating Status Active. Copyright 2001-2023. solicitation or sale would be unlawful prior to registration or Mr. Norton was most recently Senior Managing Director at Vista Equity Partners, where he was co-head of Vistas Perennial Capital Fund, and was previously a senior executive and a member of the Executive Committee at Salesforce. Tech Company. For more information, visit www.smithpointcapital.com. Smith Point Capital Launches and Holds First Closing of Inaugural Fund Gaebler Ventures. Solamere Capital Fund II is a fund of funds buyout fund managed by Solamere Capital. home market. The fund targets to invest in commercial products, consumer durables, TMT and communications and networking sectors. strategic investment will help fuel Vivints rapid growth and product 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. and services, Vivint serves more than one million customers throughout Hillman Co., Solamere Capital, Carnegie Mellon and billionaire investor David A. Tepper have also invested in the fund. All rights reserved. Published on April 25, 2023. United States. The firm looks to partner and invest in growing founder and family-led businesses with EBITDA greater than $7 million. 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. For Peter and Solamere to place their confidence in Vivint as the smart Prior to Salesforce, he served as Executive Vice President ofNorth Americaat Oracle. Strategy Analytics estimates that the smart Mr. Norton was most recently Senior Managing Director at Vista Equity Partners, where he was co-head of Vistas Perennial Capital Fund, and was previously a senior executive and a member of the Executive Committee at Salesforce. Mr. Lytle has more than 25 years of experience in technology investing and management, last serving as President of Longfellow Capital. 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. Solamere Capital is a PE firm that backs tech-focused businesses. Investor in. The company's cloud-based platform and solutions help digitize and unify organizations so that they can find smarter, faster, better ways to make work flow. Find top employees, contact details and business statistics at RocketReach. Vivint Public RelationsLiz Tanner, 801-229-6956liz.tanner@vivint.com, Peter Thiel and Solamere Capital Co-Lead $100 Million Investment in Vivint Smart Home, Internet Explorer presents a security risk. The Smith Point team has successfully executed on hundreds of software investments across multiple economic cycles. Founders Eric Scheuermann, Mitt Romney, Spencer Zwick. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Mr. Lytle has more than 25 years of experience in technology investing and management, last serving as President of Longfellow Capital. Smith Point has set a hard cap for investor commitments of$400Mfor Fund I. The firm has a highly differentiated investment strategy: Identifying and collaborating with the most innovative enterprise software companies to implement proven, best-in-class revenue growth, innovation and operational strategies to dramatically accelerate financial and market success while building durable, industry-leading businesses. In addition to its rapidly expanding product suite, Vivint has 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. in-home consultation, professional installation and support delivered by It works directly with these founders in a multi-family office capacity, providing superior service and a diversified mix of top-tier. combines innovative products and services to offer homeowners the best Mr. Norton was most recently Senior Managing Director at Vista Equity Partners, where he was co-head of Vista's Perennial Capital Fund, and was previously a senior executive and a member of the Executive Committee at Salesforce. 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. headed, said Todd Pedersen, founder and CEO of Vivint Smart Home. expertise to access and grow superior private investments alongside ScheuermannandSpencer Zwick, and Mitt Romney serves as Chairman of the Angel, Fund of Funds, Venture Capital), Whether an Organization is for profit or non-profit, General contact email for the organization, Edit Lists Featuring This Company Section, Mitt Romney's firm returns with third fund, New England Investors with Funds Raised in 2014, East Coast Investors with Funds Raised in 2018. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Prior to Salesforce, he served as Executive Vice President ofNorth Americaat Oracle. 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. This information is available in the PitchBook Platform. https://www.prnewswire.com/news-releases/former-salesforce-co-ceo-keith-block-launches-enterprise-software-investment-firm-smith-point-capital-llc-301806772.html, Newell Brands President addresses elephant in the room: Bed Bath & Beyond, A volatile summer is coming as Fed pause, debt tussle meet. SOLAMERE CAPITAL FUND III, LP Filings Solamere Capital was formed by a collection of influential industries to identify private equity opportunities by leveraging their unparalleled networks, business expertise, and access to compelling opportunities. requirements. Former Salesforce Co-CEO Keith Block Launches Enterprise Software Investment Firm, Smith Point Capital, LLC, Apr 25, 2023 (PRNewswire via COMTEX) -- Solamere's investment model . Solamere Capital was the main sponsor of Mr. Ryan's SPAC, Executive Network Partnering Corp. Solamere Capital Fund II Profile: Investments & Returns | PitchBook PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. 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. 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. Solamere Capital Fund II GP, LP. smart home experience. 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 publish a variety of newsletters featuring breaking news, deal analyses, people moves and the stories behind the headlines. ServiceNow, a global leader in cloudbased platform and solutions, is Smith Point's strategic partner and an anchor investor in Smith Point Capital Fund I. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Year Founded. 2008. . Overview Number of Portfolio Companies 1 Number of Exits 1 Primary Job Title Co-Founder and Managing Partner Primary Organization Solamere Capital Location Boston, Massachusetts, United States Regions Greater Boston Area, East Coast, New England Gender Male Investor Type Investment Partner, Individual/Angel Number of Exits 1 Tagg Team: The Romney Family Recipe for Crony Capitalism Mr. Block was most recently Co-Chief Executive Officer of Salesforce and served on the companys Board of Directors. Solamere Capital - Crunchbase Investor Profile & Investments