Onfolio Holdings Acquires RevenueZen Business

Morgan Stanley to Acquire EquityZen

October 29, 2025

Financial Services

Morgan Stanley has entered into an agreement to acquire EquityZen, a private-shares marketplace that connects shareholders of private companies with accredited investors. The deal is designed to strengthen Morgan Stanley’s private markets ecosystem by combining EquityZen’s issuer-aligned cap table integration and private shares marketplace with Morgan Stanley Wealth Management’s private markets offerings. The transaction is expected to close in early 2026, subject to customary regulatory approvals.

Onfolio Holdings Inc. Acquires Majority Interest in Eastern Standard

October 22, 2024

Marketing & Advertising

Onfolio Holdings Inc. acquired a 70% majority interest in Eastern Standard, a Philadelphia-based digital marketing and branding agency, with two Onfolio special purpose vehicles purchasing an additional 20% stake. The deal values the 90% purchase consideration at $2,160,000 (70% via $410,000 in Series A Preferred Shares plus $1,250,000 in secured promissory notes; the SPVs paid $500,000 for 20%) and positions Eastern Standard as part of Onfolio's agency platform for future organic and inorganic growth.

RevenueZen (Onfolio Holdings) Acquires First Page Strategy

May 29, 2024

Marketing & Advertising

RevenueZen LLC, a subsidiary of Onfolio Holdings Inc., acquired substantially all of the business assets of First Page Strategy (First Page LLC) under an asset purchase agreement. Consideration included a nominal cash down payment with the remainder paid via a 36-month revenue share; the First Page team will join RevenueZen and the deal is expected to generate cost savings and cross‑company revenue benefits.

TriNet Group Acquires Zenefits from Francisco Partners

December 23, 2021

Cloud & SaaS

TriNet Group, Inc. entered a definitive agreement to acquire Zenefits from Francisco Partners, expanding TriNet’s SMB product offering with Zenefits’ cloud HR, payroll and benefits platform. The deal will add an ASO/HRIS capability to TriNet’s suite and integrate Zenefits’ team and customers into TriNet upon closing; terms were not disclosed.

Zenfolio Acquires Format

November 11, 2021

Cloud & SaaS

Zenfolio, a Centre Lane Partners–backed provider of SaaS tools for photographers, acquired Format, a Toronto-based website-building platform and marketplace for professional photographers and artists. The deal combines Zenfolio’s workflow automation and commerce capabilities with Format’s website design strengths to expand services and accelerate product development while keeping both brands and workforces operating in their current locations.

fusionZONE Acquires Lead Revenue

September 30, 2021

Marketing & Advertising

fusionZONE, a Lakeland, Florida-based digital marketing provider for automotive and powersports dealerships, has acquired Lead Revenue, a digital marketing agency serving construction, finance, professional, and home services industries. The deal combines Lead Revenue's technical capabilities and digital playbook with fusionZONE's dealer-focused platform; Lead Revenue CEO Brett Sutherlin will remain as CEO of Lead Revenue and serve as Chief Digital Strategist for the combined company, and Brian Hess will join the combined entity's board.