Investment Summary

Battery Ventures Invests In AscendantFX

On January 19, 2023, private equity firm Battery Ventures invested in information technology company AscendantFX

Investment Highlights
  • This is Battery Ventures’ 19th transaction in the Information Technology sector.
  • This is Battery Ventures’ 1st transaction in Canada.
  • This is Battery Ventures’ 1st transaction in Ontario.

Investment Summary

Date 2023-01-19
Target AscendantFX
Sector Information Technology
Investor(s) Battery Ventures
Deal Type Growth Capital
Advisor(s) Raymond James - Investment Banking (Financial)
McCarthy Tétrault (Legal)

Target

AscendantFX

Toronto, Ontario, Canada
AscendantFX is a financial technology services company that provides cross-border payment solutions to businesses. AscendantFX was founded in 2011 and is based in Toronto, Ontario.

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Investor(S) 1

Investor

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.


DEAL STATS #
Overall 107 of 116
Sector (Information Technology) 19 of 20
Type (Growth Capital) 34 of 36
State (Ontario) 1 of 2
Country (Canada) 1 of 3
Year (2023) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 Shiftmove

Berlin, Germany

Shiftmove aims to reinvent how companies handle their employees, goods and services' mobility. Today, the landscape of solutions for managing business mobility operations is fragmented, resulting in unnecessary complexity and wasted resources and the company's goal is to offer a holistic experience to managing business mobility operations that surpasses the value of traditional methods like mobility sourcing, fleet management and vehicle tracking. Shiftmove is based in Berlin, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 Newforma

Manchester, New Hampshire, United States

Newforma develops, sells, and supports project information management (PIM) software for architecture, engineering, and construction firms worldwide, and the owners they serve. the company products make up the first industry-focused and integrated solution to connect firms to each other, to their project information, to their processes, and to remote team members, all for the purpose of more successful project delivery. Customers use Newforma software on more than 1.5 million projects worldwide to raise productivity, reduce exposure to risk, strengthen their brands, and liberate time and attention to focus on design, construction, and client service. Newforma was formed in 2003 and is based in Manchester, New Hampshire.

Sell -