Crosslink Capital Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Crosslink Capital has invested in 7 companies.

Crosslink Capital’s most common sectors for investment areinternet software and services (23%) and information technology (21%) . The Firm’s most common investment types include venture (92%) and stake purchase (3%). In total, Crosslink Capital has invested in 15 US states.

In the last 3 years, Crosslink Capital has exited 3 companies. The Firm’s most common exit type is trade sale (73%). Crosslink Capital’s largest (disclosed) exit occurred in 2020 when it sold Personal Capital for $1.0B.

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M&A Summary

  • M&A Total Activity132
    • M&A Buy Activity74
    • M&A Sell Activity58
  • Total Sectors Invested 17
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 64
  • M&A Advisors 1

Crosslink Capital

Two Embarcadero Center, Suite 2200,
San Francisco, California 94111
United States
(415) 617-1800
www.crosslinkcapital.com
bplan@crosslinkcapital.com

Crosslink Capital is a growth-oriented investment firm focused on technology companies. Crosslink's typically invests in early-stage companies, however, the Firm will consider opportunities at every stage, from seed to pre-IPO to PIPE offerings. Sectors of interest inlude communications/infrastructure services, core technology, semiconductors, internet, and software. Crosslink Capital is based in San Francisco, California.


Investment Criteria

Sectors of Interest: Business Services, Communications, Electrical Equipment, Electronics, Information Technology, Internet Software and Services, Media, Renewable Energy, Retail, Safety/Security, Semiconductors, Software, Technology Hardware, Test/Measurement Equipment

Target Transaction Types: Growth Capital, Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 100 500
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (1.4/yr) # 67 - 3 3 1 - 74
Sell (1.0/yr) # 53 2 2 1 - - 58
vol $3.3B $275M $750M $1.0B $5.4B
  132

Most Recent M&A

Company Date Value Type
Brace Software, Inc. 2021-01-12 - Venture
Santa Monica, California · www.brace.ai
Armory 2020-10-13 - Venture
San Mateo, California · www.armory.io
Personal Capital Corp. 2020-06-29 1.0B USD Add-on Acquisition
Redwood City, California · www.personalcapital.com
Clyde Technologies, Inc. 2020-05-11 - Venture
New York, New York · www.joinclyde.com
Arturo, Inc. 2020-04-07 - Venture
Chicago, Illinois · www.arturo.ai
Aliro Technologies, Inc. 2019-09-18 - Venture
Brighton, Massachusetts · www.aliroquantum.com
Vungle, Inc. 2019-07-15 750M USD Secondary Buyout
San Francisco, California · www.vungle.com
BetterUp 2019-06-12 - Venture
San Francisco, California · www.betterup.com
Chime 2019-03-05 - Venture
San Francisco, California · www.chime.com
ProtectWise, Inc. 2019-03-01 - Add-on Acquisition
Denver, Colorado · www.protectwise.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 6 (30%) - 17 (23%) -
Information Technology 5 (25%) - 15 (20%) -
Software 5 (25%) - 14 (19%) -
Technology Hardware - - 6 (8%) -
Semiconductors 1 (5%) - 4 (5%) -
Digital Media - - 3 (4%) -
Media - - 3 (4%) -
Financial Services 1 (5%) - 2 (3%) -
Renewable Energy - - 2 (3%) -
Business Services - - 1 (1%) -
Chemicals 1 (5%) - 1 (1%) -
Communications - - 1 (1%) -
Electrical Equipment - - 1 (1%) -
Electronics - - 1 (1%) -
Information Services - - 1 (1%) -
Safety/Security 1 (5%) - 1 (1%) -
Test/Measurement Equipment - - 1 (1%) -
Total 20 - 74 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 20 (100%) - 74 (100%) -
  California 14 (70%) - 53 (72%) -
  Massachusetts 1 (5%) - 4 (5%) -
  New York 2 (10%) - 2 (3%) -
  Illinois 1 (5%) - 2 (3%) -
  Georgia - - 2 (3%) -
  Utah - - 2 (3%) -
  New Mexico 1 (5%) - 1 (1%) -
  Maryland 1 (5%) - 1 (1%) -
  Iowa - - 1 (1%) -
  Connecticut - - 1 (1%) -
  Colorado - - 1 (1%) -
  Texas - - 1 (1%) -
  Oregon - - 1 (1%) -
  Nevada - - 1 (1%) -
Total 20 - 74 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 19 (95%) - 68 (92%) -
Stake Purchase - - 2 (3%) -
Buyout (LBO, MBO, MBI) - - 1 (1%) -
Divestiture - - 1 (1%) -
Growth Capital - - 1 (1%) -
PIPE 1 (5%) - 1 (1%) -
Total 20 - 74 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 29 (50%) 3.0B (56%)
Trade Sale 16 (28%) 1.6B (30%)
IPO 9 (16%) -
Secondary Sale 2 (3%) 750M (14%)
Shut Down 1 (2%) -
Unknown 1 (2%) -
Total 58 $5.4B

Top M&A Advisors

Financial Deals
Brightwood Capital Advisors LLC
 1

Deal Values

sell # Total
> $1B 1 $1.0B
$100M to $1B 11 $4.2B
< $100M 5 $206M
TOTAL $5.4B
Largest Personal Capital Corp.
$1.0B (2020-06-29)

M&A Connections

Deals
Acquired from
Strategic(s)
1%
1 (1%)
Exited to
Investor(s)
3%
2 (3%)
Strategic(s)
72%
42 (72%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Large

PE Assets

1.5B USD

Established

1989

Specialist/Generalist

Specialist

Leadership

Michael Stark

Founding Partner

Paul Sabo

Head of Trading

Dan Myers

Partner

David Silverman

Partner

Eric Chin

Partner

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