Investment Summary

W Capital Partners and Riverwood Capital Invest In Billtrust

On May 25, 2017, secondary investor W Capital Partners and private equity firm Riverwood Capital invested in internet software and services company Billtrust

Investment Highlights
  • This is W Capital Partners’ 6th and Riverwood Capital’s 8th transaction in the Internet Software and Services sector.
  • This is W Capital Partners’ 19th and Riverwood Capital’s 14th transaction in the United States.
  • This is W Capital Partners’ 1st and Riverwood Capital’s 1st transaction in New Jersey.
Investment Fate
  • Billtrust was sold to a consortium of financial buyers in 2021.
  • Billtrust was sold to a financial buyer in 2022 for 1.7B USD.

Investment Summary

Date 2017-05-25
Target Billtrust
Sector Internet Software and Services
Investor(s) W Capital Partners
Riverwood Capital
Deal Type Growth Capital
Advisor(s) Financial Technology Partners - FT Partners (Financial)

Target

Billtrust

Lawrenceville, New Jersey, United States
Billtrust is a provider of cloud-based payment cycle management solutions. Billtrust helps companies automate and accelerate their accounts receivable (AR) processes to increase cash flow, improve operational efficiency, and drive customer satisfaction. Billtrust was established in 2001 and is based in Lawrenceville, New Jersey.

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Investor(S) 2

Investor

W Capital Partners

Investor Investor Investor Investor Investor


Category Secondary Investor
Founded 2001
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

W Capital Partners is a private investment group focused on direct secondary investments. W Capital Partners has a particular interest in growth equity secondary investments as well as buyout minority secondary investments, where existing shareholders are looking for liquidity. W Capital Partners was founded in 2001 and is based in New York, New York.


DEAL STATS #
Overall 20 of 23
Sector: Internet Software and Services M&A 6 of 7
Type: Growth Capital M&A Deals 4 of 4
State: New Jersey M&A 1 of 1
Country: United States M&A 19 of 22
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-28 Alida

Toronto, Ontario, Canada

Alida provides a cloud-based customer intelligence platform that allows companies to build engaged, secure communities of customers that they can use continuously, across the enterprise, for ongoing, real-time feedback and insight. Alida was founded in 2000 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-28 Kony

Orlando, Florida, United States

Kony, Inc. is a provider of software and services that enable enterprise customers to quickly design, develop, deploy and manage mobile applications. Kony was established in 2007 and is based in Orlando, Florida.

Sell -
Investor

Riverwood Capital

Menlo Park, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Riverwood Capital is a tech-focused on private equity firm. Riverwood will consider investment opportunities across North and South America and looks for situations where the firm can commit $25 to $125 per transaction. Prospective transaction situations include growth capital financings, carve-outs, consolidations, and buyouts. Specific areas of interest include IT, communications, technology hardware, electronics, software, and digital media. Riverwood Capital was formed in 2008 and is based in Menlo Park, California.


DEAL STATS #
Overall 24 of 46
Sector: Internet Software and Services M&A 8 of 14
Type: Growth Capital M&A Deals 12 of 22
State: New Jersey M&A 1 of 1
Country: United States M&A 14 of 29
Year: 2017 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-06 Liquid Robotics

Sunnyvale, California, United States

Liquid Robotics, Inc. is a provider of autonomous maritime systems and developer of the Wave Glider ocean surface robot. Liquid Robotics persistent and versatile platforms utilized across the globe for ocean data observation, monitoring and surveillance break the economic and risk barriers to ocean data collection.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-22 Druva

Santa Clara, California, United States

Druva is a provider of cloud data protection and management. Druva was founded in 2007 and is based in Santa Clara, California.

Buy -