True Wind Capital Invests in AIA Contract Documents (ACD)

Welsh, Carson, Anderson & Stowe Acquires Majority Stake in AIA Contract Documents

July 9, 2025

Cloud & SaaS

Welsh, Carson, Anderson & Stowe (WCAS) has made a majority investment in AIA Contract Documents (ACD), the leading risk-management and contract workflow platform for the architecture, engineering, and construction (AEC) industry. WCAS is partnering with The American Institute of Architects (AIA) and existing investor True Wind Capital, which will remain investors and strategic partners; terms were not disclosed.

True Wind Capital Makes Growth Investment in W Energy Software

January 13, 2022

Cloud & SaaS

True Wind Capital completed a strategic growth equity investment in W Energy Software to accelerate the company's expansion into new markets and support product and M&A-led growth. M33 Growth and certain founders and shareholders rolled a meaningful portion of their equity; Mark Hill was appointed CEO as part of a leadership succession plan.

Aldaron Partners and True Wind Capital Acquire DCM Services

March 17, 2025

Professional Services

Aldaron Partners and True Wind Capital have partnered to acquire DCM Services, a Minneapolis-area leader in estate and specialty receivables recovery. The private equity-backed partnership will support DCMS's growth and scale its proprietary Probate Finder technology and outsourced account resolution services across financial services, healthcare and other end markets.

True Wind Capital Acquires 19% Stake in SUNCORPORATION via Tender Offer

August 19, 2024

Manufacturing

True Wind Capital Management completed a tender offer to acquire 4,239,500 common shares (approximately 19%) of SUNCORPORATION for JPY 5,500 per share. The San Francisco-based private equity firm said the minority stake establishes a partnership with SUN's leadership to support long-term value creation and build on prior collaboration related to Cellebrite.

True Wind Capital and Elyan Partners Invest in Envoy Global

January 24, 2022

Cloud & SaaS

True Wind Capital and Elyan Partners have made a growth investment in Envoy Global, partnering with existing shareholder Palladium Equity Partners to support the immigration software and services provider's next phase of growth. The new investors will help Envoy scale its technology platform and expand its services internationally, particularly into Europe.

World Insurance Associates Acquires True & Associates

January 8, 2021

Insurance

World Insurance Associates LLC (WIA) acquired True & Associates of Westfield, New Jersey on December 31, 2020; terms were not disclosed. True & Associates is a multi-line property & casualty agency founded in 1984 that specializes in serving the construction industry, and WIA said the deal strengthens its surety, bond capabilities and presence in the tri-state area.