Sageview Fund III – Continuing to Back Software and Tech-Enabled Businesses That Are Improving the Ways Companies and Individuals Operate
The Partners of Sageview Capital LP
We are excited to announce the close of Sageview Capital Partners III (collectively Sageview III (A), L.P. and Sageview III (B), L.P.), at $710 million, exceeding the fund’s initial target of $600 million. Consistent with prior funds, the Sageview Capital team is the largest single investor in Fund III, creating strong alignment with our investors and the entrepreneurs we back.
Fund III will continue the firm’s strategy of providing growth capital and operational support to fast-growing software and tech-enabled businesses that are well-positioned to be industry leaders, with ambitious management teams and category-leading products or services. We will continue to run a concentrated portfolio to ensure high-level focus and involvement in each company. As active partners, we will leverage our decades of experience, extensive Global 2000 network, and deep operational expertise to help our companies grow. Given our minority focus, our goal is to help our companies create or refine their growth strategy and then provide or connect them to the resources needed to execute against that plan.
We’re grateful for the support we received from both our existing and new investors and from the entrepreneurs and management teams that have chosen to work with us so far. We are thrilled to continue the firm’s strategy through this third fund, which is already off to a strong start with roughly 25% of the capital deployed across six investments, including, Drivewyze, CallRail, Carewell, Pax8, Specright, and XSELL Technologies.
We’re proud of the firm and the team we’ve built and the success we’ve had to date. Across our first two funds, five of our portfolio companies have had initial public offerings, including Avalara and GoPro, and six portfolio companies have been exited via strategic sales, including the recent sale of Reflexis to Zebra Technologies for $575 million. Additionally, Pantheon, one of our Fund II portfolio companies, recently made a splash as it raised $100 million from Softbank’s Vision Fund II at a $1 billion-plus pre-money valuation, making it one of silicon valley’s latest unicorns.
With this new pool of capital, we’re excited to build on our record of investing in exceptional software and tech-enabled businesses. We will continue to leverage the firm’s expertise to support our entrepreneurial partners and scale companies that are well-positioned to become the industry leaders of tomorrow.
Fund III Investments To Date