Growth Capital • Business Services

FTV Capital and StepStone Private Equity Invest In Strata Fund Solutions

On September 6, 2018, growth capital firm FTV Capital and private equity firm StepStone Private Equity invested in business services company Strata Fund Solutions

Investment Context
  • This is FTV Capital’s 10th and StepStone Private Equity’s 1st transaction in the Business Services sector.
  • This is FTV Capital’s 74th and StepStone Private Equity’s 4th transaction in the United States.
  • This is FTV Capital’s 1st and StepStone Private Equity’s 1st transaction in Utah.
Investment Fate
  • Strata Fund Solutions was sold to a strategic buyer in 2021.

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Investment Summary

Date September 6, 2018
Target Strata Fund Solutions
Sector Business Services
Investor(s) FTV Capital
StepStone Private Equity
Deal Type Growth Capital
Advisor(s) Macquarie Capital (Financial)
Goodwin Procter (Legal)

Target Company

Strata Fund Solutions

Salt Lake City, Utah, United States
Strata Fund Solutions is a full-service administration company providing high-quality administration and consulting services to the alternative investments industry. Strata Fund's focus is on unparalleled service to hedge funds, private equity funds, funds of funds, and managed accounts. Strata Fund Solutions was founded in 2008 and is based in Salt Lake City, Utah.
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Investors Overview 2

Investor

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.


Deal Context for Investor #
Overall 86 of 133
Sector: Business Services 10 of 15
Type: Growth Capital 29 of 58
State: Utah 1 of 2
Country: United States 74 of 105
Year: 2018 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-16 A-LIGN

Tampa, Florida, United States

A-LIGN is a cybersecurity and compliance solutions provider that specializes in helping businesses navigate the complexities of regulatory and business-driven security and compliance needs. It provides security and compliance solutions in the form of assessments, audits, and cyber risk advisory and testing services for companies ranging from small-medium-sized businesses to large enterprises. A-LIGN was founded in 2009 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-13 Neon One

Chicago, Illinois, United States

Neon One is an end-to-end ecosystem dedicated to helping nonprofits achieve philanthropic goals by providing a user-friendly, integrated and state-of-the-art technology platform. Neon One is based in Chicago, Ilinois.

Buy -
DESCRIPTION

StepStone Private Equity is the private equity arm of StepStone Global, a global alternative investment and asset management firm. StepStone Private Equity manages and makes fund investments as well as co-invests in direct opportunities spanning buyout, venture, distressed, private debt, and energy. StepStone Private Equity is based in La Jolla, California.


Deal Context for Investor #
Overall 4 of 6
Sector: Business Services 1 of 1
Type: Growth Capital 2 of 2
State: Utah 1 of 1
Country: United States 4 of 4
Year: 2018 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-30 DivX

San Diego, California, United States

DivX, Inc. is a digital media company that enables consumers to enjoy a high-quality video experience across any kind of device. The DivX brand is recognized worldwide and supported by a community of millions of consumers.

Sell $63M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-28 Waterlogic

High Wycombe, United Kingdom

Waterlogic is a designer, manufacturer, distributor and operator of mains attached point-of-use ("POU") drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants, and other workplaces. Waterlogic was founded in 1992 and is based in High Wycombe, United Kingdom.

Buy -