Growth Capital Investments in 2021

Associates International (Ai) made a minority investment in Global Research Group, Inc. (dba Prospect Direct), a Dallas-based lead generation company; the transaction closed on December 28, 2021. The investment provides Prospect Direct with capital and a strategic partner to support growth and expand its marketing implementation and lead-generation capabilities.

Seattle-area technology consulting firm Fresh Consulting received a strategic growth investment from The Cynosure Group. The minority capital injection will support Fresh's capability expansion (including internal development and M&A) while the company's founders and management remain majority owners.

New York-based private equity firm Stella Point Capital has made a growth investment in Autoagent, a Boca Raton–based provider of cloud tax payment and data solutions. The capital will be used to expand Autoagent’s payments revenue stream, increase penetration into taxing jurisdictions, grow its data footprint, and support regional expansion and future acquisitions while the existing management team remains in place.

Corcym, a global medical device company focused on structural heart solutions, closed a €45 million growth financing arranged by funds managed by Hayfin Capital Management. The financing (preferred equity plus a senior credit facility) will support Corcym's international expansion and strategic growth initiatives alongside existing investor Gyrus Capital.

Salesloft, the Atlanta-based provider of a sales engagement SaaS platform, announced a strategic growth investment from Vista Equity Partners that values the company at a multi-billion dollar valuation. The investment will provide capital and partnership to accelerate product innovation, international expansion (particularly beyond North America), and continued go-to-market growth; Vista will join Salesloft's board.

BPOC, a Chicago-based healthcare-focused private equity firm, has made a strategic growth investment in Alliance Physical Therapy Partners, a national operator of outpatient physical therapy clinics. Alliance operates 90+ clinics across 14 states with 450+ licensed clinicians and will partner with BPOC and management to accelerate network growth and expand services; financial terms were not disclosed.

Turning Basin Capital and co-investor Vigeo Investments provided growth equity to National Glazing Solutions (NGS) to fund national expansion and acquisitions. NGS, a Canton, Georgia-based dealer-installer of window film, Riot Glass, printed graphics and signage, will keep its founders James Beale and Patrick Coyle in operating roles while using the capital to scale operations.

Belgian SAP partner Anrova Solutions and Dutch SAP partner Domani Business Solutions have merged with investment participation from Netherlands-based investor Capital A. The combined entity (about 75 employees) will target growth across Belgium and the Netherlands and pursue a buy-and-build strategy to scale as a European SAP Business One provider.

Organigram Holdings Inc. has invested an additional $2.5 million in secured convertible debentures of Hyasynth Biologicals Inc., bringing its total investment to $10.0 million. The financing is intended to advance Hyasynth's production scalability, R&D into rare cannabinoids and commercial partnerships as the company scales fermentation-based cannabinoid manufacturing.

Graycliff Partners LP provided a unitranche debt facility and a minority equity investment in Talk More Wireless to fund growth and support add-on store acquisitions. Talk More Wireless, led by Jimmy Ralph and headquartered in St. Petersburg, Florida, operates 100+ Metro by T-Mobile retail stores across multiple states and will use the capital to accelerate expansion.

L Catterton Asia, the Asia fund of consumer-focused private equity firm L Catterton, has made a strategic growth investment in Ci FLAVORS, the Tokyo-based holding company that owns Cosme Company. The partnership will support new brand development and accelerate Ci FLAVORS' international expansion (notably into China and other markets), with LVMH Japan president Norbert Leuret joining as a senior advisor.

International investment fund Bonum Capital has purchased a 16% minority stake in PJSC Koks, Russia’s largest merchant coke producer, from an unnamed minority shareholder. The deal is a financial (minority) investment; the purchase price was not disclosed and Bonum said it will support management's growth, efficiency and environmental programmes while considering strategic options for the stake.

SS&C Technologies has made a strategic minority investment in the newly formed company combining Equiniti and American Stock Transfer & Trust Company (AST), a business recently acquired by affiliates of Siris Capital Group. The investment joins SS&C with Siris and other investors to create a leading international provider of shareholder, transfer agent and regulatory technology and to explore commercial and product partnerships across the combined business.

Two Sigma announced an investment in Figment, a crypto staking, middleware, and application-layer provider, to support Figment's continued growth and Web3 ecosystem development. The investment will see Figment work more closely with the Pyth Network to bring enhanced functionality and usability to Pyth HiFi market data.

Align Capital Partners made a growth capital investment in We Are Rosie, a flexible talent marketplace for advertising and marketing, in December 2021. The deal valued We Are Rosie at $110 million; founder and CEO Stephanie Nadi Olson retained a significant stake and will continue to lead the company as it uses the capital to invest in people and technology to scale its marketplace.

FPE Capital LLP has made a growth capital investment in 60 Decibels, becoming the company’s largest shareholder and marking the eleventh investment from FPE Fund II. The funding will be used to accelerate sales and marketing and further technology enablement as 60 Decibels shifts toward a data- and subscription-led social impact measurement business; FPE will add board representation following the deal.

Spanish private equity firm ProA Capital has acquired a 50% stake in Patatas Hijolusa in a transaction valued at about €100 million via a share purchase and a capital increase. The founding family (José and Carlos Gómez Pérez) will retain 50% and continue to run the business as Hijolusa pursues international expansion (France and Italy), increased R&D and digitalization, and a buy-and-build strategy.

Benelux private equity firm Mentha has taken a minority stake in Bright River, a Dutch visual content solutions provider, to accelerate the company's growth and support international expansion. Bright River, headquartered in Haarlem with offices in New York, Dhaka and Chennai, provides AI-powered image, video and 3D content services to leading e-commerce retailers and employs around 750 people.

Audax Private Equity completed a strategic growth investment in Integrate (Integrate.com, Inc.), a B2B demand marketing SaaS provider, in December 2021. The undisclosed investment will support Integrate's product development, customer growth, and geographic and vertical expansion for its Demand Acceleration Platform (DAP).

The Qatar Investment Authority (QIA) is investing GBP 85 million to acquire a 10% equity stake in Rolls‑Royce SMR Limited, joining Rolls‑Royce Group, BNF Resources UK Ltd and Exelon Generation Ltd as shareholders. The funding helps fully capitalise Rolls‑Royce SMR to develop and commercialise its small modular reactor (SMR) technology for low‑carbon power generation.

Bessemer Investors has made a significant investment in Pet Flavors, LLC, a Melbourne, Florida-based manufacturer of pharmaceutical‑grade flavor bases and palatants for pet pharmaceuticals and nutraceuticals. Founder Mark Pieloch will remain as President while Bessemer intends to establish Pet Flavors as its platform investment in the companion animal health industry; financial terms were not disclosed.

SOL Global Investments Corp. purchased 62,500 common shares of Atmofizer Technologies Inc. on December 20, 2021 at an average price of CAD$2.618 per share, increasing its ownership from approximately 8.34% to approximately 8.42% on a non-diluted basis. SOL Global also holds 1,299,999 warrants exercisable for one common share each (USD$3.50 exercise price), which if exercised would raise its partially-diluted stake to roughly 10%.

Godspeed Capital Management LP has made a strategic, cornerstone platform investment in Varen Technologies, a Columbia, Maryland-based provider of cybersecurity, software, and intelligence solutions for the U.S. Defense and Intelligence communities. The undisclosed investment will support technology and talent investments, business development, corporate infrastructure, and strategic acquisitions as Varen continues to be led by its existing management team.

Avia Solutions Group has entered a strategic partnership with Certares Management LLC, with additional investment from Knighthead Capital Management, providing a €300 million investment. The capital will be used for strategic acquisitions, capital expenditures and general corporate purposes, and Certares will join the group's Board to support global expansion and capability growth.

Mavrck, an enterprise influencer marketing platform headquartered in Boston, closed a $120 million growth investment from global growth equity firm Summit Partners. The funding will accelerate Mavrck's product expansion and development of an operations cloud to scale social proof capabilities for consumer brands.

BV Investment Partners has made a strategic growth investment in Intentsify to accelerate the intent data platform's growth and product innovation. Intentsify provides an Intent Activation platform that layers multiple intent data sources to power account-based marketing for B2B Fortune 500 and middle-market customers.

Ambina Partners made a growth equity investment in Beacon Healthcare Systems, a California-based provider of SaaS technology for health plans that manages claims, appeals, grievances, compliance, enrollment, and analytics. The funding will support Beacon's sales & marketing expansion and product development to accelerate growth.

Boathouse Capital has completed a growth investment in RBJK Marketing, the largest Jan-Pro franchisee operating in the Atlanta and Oklahoma City markets. The private equity firm partnered with RBJK’s management to fund organic and inorganic growth initiatives — including expansion within the Jan-Pro system and digital transformation efforts to scale the commercial cleaning business.

Aquiline Capital Partners has taken a significant minority stake in Krakow-based software development firm VirtusLab, with existing management rolling part of their equity and remaining owners. The investment will fund organic growth — including talent acquisition, R&D investment, and potential add-on acquisitions — as VirtusLab seeks to scale its cloud-native, data and development capabilities for enterprise customers.

Main Street Capital Corporation provided a $16.4 million first‑lien, senior secured term debt follow‑on investment in portfolio company Hawk Ridge Systems to finance Hawk Ridge’s acquisition of DesignPoint and support internal growth initiatives. Hawk Ridge, a leading value‑added reseller of SOLIDWORKS and 3D printing solutions headquartered in Mountain View, California, will use the financing to expand geographic reach and bolster technical and sales resources.

TruArc Partners, a New York–based private equity firm, has made a significant growth investment in Lamark Media, a Boca Raton–based integrated digital marketing agency. The capital and strategic partnership will be used to accelerate Lamark’s growth through investments in people, technology, capabilities and the continued acquisition of complementary businesses; terms were not disclosed.

LoneTree, a New York-based growth capital firm, announced a significant growth investment in Safety Plus, a Mobile, Alabama-based provider of safety management, contractor management, and compliance software and services. The investment will fund strategic growth initiatives, platform innovation, and enable Safety Plus to pursue strategic M&A while supporting continued headcount and customer growth.

Lightview Capital made a growth investment in CyberSheath, a Reston, Virginia–based managed security and CMMC services provider, to help the company scale its offerings for the Defense Industrial Base. The capital will fund product and service expansion, support potential acquisitions, and enable CyberSheath to reach more DoD contractors needing compliance and cybersecurity solutions.

Bregal Sagemount has made a significant new equity investment in Transflo alongside existing investor True Wind Capital, with Carousel Capital remaining a significant minority investor. The growth investment will support Transflo’s product innovation, payments and automation capabilities, and enable pursuit of strategic acquisitions to expand its position in the transportation technology market; financial terms were not disclosed.

Continental has taken a minority stake in Palo Alto–headquartered Apex.AI as a strategic investor to deepen an existing collaboration on the safety-certified vehicle operating system Apex.OS. The minority investment (amount undisclosed) aims to accelerate industrialization and shorten development cycles for ADAS and autonomous-driving functions through closer cooperation and integration of Apex.AI's software with Continental's vehicle platforms.

Chicago-based private equity firm Shore Capital Partners has completed a partnership investment in BevSource, an outsourced beverage development and production services provider based in St. Paul, Minnesota. Shore will partner with BevSource's management to invest in business development, R&D, sales and marketing, and operations while exploring both organic growth and potential acquisitions to accelerate the company's expansion.

Funds managed by Blackstone GP Stakes have acquired a minority ownership interest in Nautic Partners LLC, a Providence-based middle-market private equity firm. The investment creates a strategic partnership intended to provide Nautic with access to Blackstone’s resources as Nautic continues to deploy capital from its newly-closed $3.0 billion fund.

Graham Partners Growth, the growth equity strategy of Graham Partners, has completed a minority growth equity investment in Kinova Group Inc., a Boisbriand, Quebec–based designer and manufacturer of collaborative robotic arms (cobots). The investment will provide growth capital and operational support as Kinova expands its presence across medical, assistive and industrial automation end markets.

Vistara Growth made a growth capital investment in meQuilibrium to accelerate the HR technology company's product roadmap, support hiring, pursue complementary acquisitions, and expand go-to-market efforts. meQuilibrium provides a digital resilience and workforce-wellbeing SaaS platform serving large enterprises and has experienced rapid revenue growth in recent years.

Catalyze, a Boulder-based independent power producer, made a minority investment in and formed a strategic partnership with Microgrid Labs (MGL) to deliver turnkey fleet electrification planning, implementation, financing and operations across North America. The partnership combines Catalyze’s renewable generation, storage and charging deployment capabilities with MGL’s fleet electrification software and consulting to offer integrated fleet-as-a-service solutions to commercial, industrial and municipal customers.

LNC Partners provided senior debt and equity to Commercial Energy Specialists (CES), a Jupiter, Florida-based, tech-enabled, service-supported distributor of water treatment equipment and supplies backed by Turning Basin Capital and Vigeo Investments. The capital package is intended to support CES’s acquisitive growth strategy and enable add-on acquisitions by the platform.

NewSpring’s franchise-focused strategy, NewSpring Franchise, made a growth equity investment in Central Bark to accelerate the dog daycare brand’s franchise expansion and strengthen its infrastructure. Central Bark’s founders will remain involved in operations as the company uses proceeds to fuel geographic expansion, franchise development, and investments in technology and operations.

Strattam Capital (a private equity firm) invested in Action Title Research, a technology-driven title research and public-records analytics provider, in a transaction announced December 2021. The investment (reported as a $30 million capital commitment by Strattam) is intended to accelerate growth, expand capabilities and support a roll-up/add-on acquisition strategy for Action Title Research.

Crosspoint Capital Partners has completed a strategic investment in DigiCert, joining existing owners Clearlake Capital and TA Associates. The capital and Crosspoint's cybersecurity expertise are intended to support DigiCert's next phase of growth in digital trust solutions; the company also appointed Dave Morton as CFO and added Crosspoint partners to its board.

Blue Point Capital Partners has made a platform investment in National OnDemand, a Burlington, North Carolina-based communications and utility infrastructure services provider. The founders retain significant ownership and management roles; the investment will support continued organic growth and accelerated add-on M&A to expand National OnDemand's services and geographic footprint.

Nexa Equity made a majority growth investment in Leap, a Columbia, Maryland-based provider of sales enablement software for home contractors. The investment will fund product development, go-to-market expansion and potential strategic acquisitions while Leap's founders and management remain meaningful shareholders.

DFW Capital Partners completed a growth investment in Herspiegel Consulting, a Yardley, Pennsylvania–based provider of commercial strategy and implementation consulting for the pharmaceutical and biotechnology industries. The partnership will support Herspiegel's growth and expansion of its commercial capabilities and reach.

An affiliate of H.I.G. Capital has made a strategic equity investment in Rising Pharma Holdings and Casper Pharma (together, Rising Pharmaceuticals) to support the company's growth, M&A activity and new product launches. Rising Pharmaceuticals is an asset-light developer and marketer of generic and specialty pharmaceuticals based in New Jersey with a diversified portfolio of over 125 products and a network of 23+ CMO/CDO partners.

SCF Partners has made an investment in Powerstar EMSc (UK) Ltd, a Sheffield-based designer and manufacturer of power resiliency, microgrid and energy-efficiency technologies. The founder and CEO Dr. Alex Mardapittas will remain in place as the company uses the capital partnership to support its next phase of growth and international expansion.

Circularity Capital has invested £8 million in P2i, a UK-based leader in liquid-repellent nanotechnology coatings, to support the company’s global growth and accelerate product development. The funding will help P2i expand its market reach across electronics, automotive and medical device OEMs while advancing its coating technologies that improve device longevity and reduce e-waste.