Investment Summary

Luminate Capital Partners, TA Associates and General Atlantic Invest In Fintech

On January 10, 2017, private equity firm Luminate Capital Partners, private equity firm TA Associates and growth capital firm General Atlantic invested in internet software and services company Fintech

Investment Highlights
  • This is Luminate Capital Partners’ 2nd, TA Associates’ 17th and General Atlantic’s 30th transaction in the Internet Software and Services sector.
  • This is Luminate Capital Partners’ 3rd, TA Associates’ 201st and General Atlantic’s 81st transaction in the United States.
  • This is Luminate Capital Partners’ 1st, TA Associates’ 14th and General Atlantic’s 4th transaction in Florida.

Investment Summary

Date 2017-01-10
Target Fintech
Sector Internet Software and Services
Investor(s) Luminate Capital Partners
TA Associates
General Atlantic
Deal Type Growth Capital
Advisor(s) Holland & Knight (Legal)

Target

Fintech

Tampa, Florida, United States
Fintech is a provider of data, payment, and software solutions to the beverage alcohol industry. Fintech’s flagship product, OneSource, provides the beverage alcohol industry. OneSource connects alcohol distributors with retailers and replaces cash, check, and money orders, reducing errors and saving customers time and money. Fintech was founded in 1991 and is based in Tampa, Florida.

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Investor(S) 3

Investor
DESCRIPTION

Luminate Capital Partners is a private equity group focused on control investments in software and software-enabled businesses. The Firm targets growth-oriented companies 'at an inflection point' looking to take the business to the next level. Specific areas of interest include vertical applications, SaaS, back office and supply chain, marketing automation, e-commerce, data and analytics and software-enabled services. Laminate Capital was formed in 2015 and is based in San Francisco.


DEAL STATS #
Overall 3 of 17
Sector (Internet Software and Services) 2 of 10
Type (Growth Capital) 2 of 10
State (Florida) 1 of 2
Country (United States) 3 of 14
Year (2017) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-12 Oversight Systems

Atlanta, Georgia, United States

Oversight Systems is a web-based software solution that automates spending program compliance by comprehensively analyzing expense reports, purchase cards, and accounts payable transactions to identify fraud, non-compliant purchases, as well as inefficient and wasteful spending. Oversight Systems was founded in 2003 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 Comply365

Beloit, Wisconsin, United States

Comply365 is a provider of mobile-first, enterprise content management solutions to the aviation industry. Comply365’s solutions enable airline employees to access mobile manuals, complete checklists, review digital flight plans, complete training, and stay in compliance in a highly-regulated environment in real-time on any device. Comply365 was founded in 2007 and is based in Beloit, Wisconsin.

Buy -
Investor

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 251 of 364
Sector (Internet Software and Services) 17 of 26
Type (Growth Capital) 94 of 133
State (Florida) 14 of 17
Country (United States) 201 of 263
Year (2017) 1 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-29 Alpha II

Tallahassee, Florida, United States

Alpha II is a provider of revenue cycle management software-as-a-service solutions focused on pre-submission claims editing/scrubbing, coding and billing accuracy, and quality reporting for both physicians and acute care providers. Alpha II is based in Tallahassee, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-12 Thinkproject

München, Germany

Thinkproject is a provider of cross-enterprise collaboration and workflow software to the construction and engineering industries. Thinkproject was established in 2000 and is headquartered in München, Germany.

Buy -
Investor

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 169 of 343
Sector (Internet Software and Services) 30 of 74
Type (Growth Capital) 75 of 129
State (Florida) 4 of 6
Country (United States) 81 of 163
Year (2017) 1 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-28 Clip

Mexico, Mexico

Clip is a commerce and digital payments platform in Mexico that is empowering small and medium-sized businesses to interact and transact with their consumers more effectively through innovative technologies and the ability to accept all payment methods digitally. Clip was founded in 2012 and is based in Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-25 AppDynamics

San Francisco, California, United States

AppDynamics, Inc. is an application intelligence company that enables enterprises on the path to digital transformation to proactively manage the customer experience. The AppDynamics Application Intelligence Platform delivers the next generation of application performance management and analytics software to monitor, manage, analyze, and optimize customer experiences and the most complex software environments behind them. AppDynamics, Inc. was formed in 2008 and is based in San Francisco, California.

Sell $3.7B