Growth Capital • Software

Mercato Partners and ORIX Private Equity Solutions Invest In Venafi

On September 20, 2016, growth capital firm Mercato Partners and mezzanine finance firm ORIX Private Equity Solutions invested in software company Venafi

Investment Context
  • This is Mercato Partners’ 5th and ORIX Private Equity Solutions’ 2nd transaction in the Software sector.
  • This is Mercato Partners’ 16th and ORIX Private Equity Solutions’ 15th transaction in the United States.
  • This is Mercato Partners’ 10th and ORIX Private Equity Solutions’ 1st transaction in Utah.
Investment Fate
  • Venafi was sold to a consortium of financial buyers in 2020.
  • Venafi was sold to a publicly-traded strategic buyer in 2024 for 1.5B USD.

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Investment Summary

Date September 20, 2016
Target Venafi
Sector Software
Investor(s) Mercato Partners
ORIX Private Equity Solutions
Deal Type Growth Capital

Target Company

Venafi

Salt Lake City, Utah, United States
Venafi is a cybersecurity software platform that monitors, protects, and remediates an enterprise’s keys and certificates, which are required for secure communication, commerce, and mobility. Venafi provides its Global 5000 enterprise customers the ability to orchestrate the complete life cycle of all machine identity types, including TLS/SSL and SSH keys, and code-signing certificates. Venafi was founded in 2000 and is based in Salt Lake City, Utah.
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Investors Overview 2

Investor

Mercato Partners

Salt Lake City, Utah, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Mercato Partners is a private equity firm focused on later stage growth capital financings. Mercato generally targets minority investments in high growth technology and consumer businesses with $5 to $50 million in annual sales. The Firm looks for profitable, US-based companies where additional capital can help continue expansion opportunities. Mercato Partners is based in Salt Lake City, Utah.


Deal Context for Investor #
Overall 17 of 27
Sector: Software 5 of 7
Type: Growth Capital 8 of 9
State: Utah 10 of 15
Country: United States 16 of 26
Year: 2016 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-12 Untangle

San Jose, California, United States

Untangle is a provider in cybersecurity designed specifically for the below-enterprise market, safeguarding businesses, home offices, nonprofits, schools and governmental organizations. Untangle’s integrated suite of software and appliances provides enterprise-grade capabilities and consumer-oriented simplicity to organizations with limited IT resources. Untangle’s award-winning network security solutions are trusted by over 40,000 customers around the world. Untangle was founded in 2003 and is headquartered in San Jose, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-13 ObservePoint

Provo, Utah, United States

ObservePoint provides enterprise data quality assurance platform that maximizes the return on marketing technology by thoroughly identifying, analyzing, and testing javascript-based technologies deployed on web sites. The organizations around the world leverage ObservePoint technology to improve data quality, provide transparency into data collection methods, monitor and systematically protect vital business metrics. ObservePoint was founded in 2010 and is based in Provo, Utah.

Buy -
DESCRIPTION

ORIX Mezzanine & Private Equity is the direct investment arm of asset manager ORIX. ORIX Mezzanine & Private Equity looks to invest $10 to $20 million to support buyouts, acquisitions, growth capital needs, and sponsored led transactions of profitable (greater than $5 million of EBITDA) companies throughout North America. ORIX will consider a variety of investment structures, including subordinated and convertible debt to common, preferred and convertible preferred equity. ORIX Mezzanine & Private Equity is headquartered in Dallas, Texas.


Deal Context for Investor #
Overall 16 of 27
Sector: Software 2 of 4
Type: Growth Capital 7 of 10
State: Utah 1 of 1
Country: United States 15 of 25
Year: 2016 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-30 ACL AirShop

Greenville, South Carolina, United States

ACL AirShop is a manufacturer of air cargo nets, straps, and assemblies and sells, leases, and repairs air cargo unit loading devices. ULDs are broadly defined as any platform used to facilitate the movement of air cargo. ACL AirShop was founded in 1979 and is based in Greenville, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-15 Custom Ink

Fairfax, Virginia, United States

Custom Ink provides custom apparel and accessories for groups, events, and special occasions. The company helps group organizers bring their families, friends, teammates, and colleagues together with inspired designs they are proud to wear. Custom Ink makes the customization process fun and easy with innovative design tools, caring customer service, creative design inspiration and high-quality merchandise. Custom Ink was founded in 2000 and is based in Fairfax, Virginia.

Buy -