2019

First Half Update

Vista and our companies are on the front line of innovation, embracing new technologies and leveraging our combined expertise to contribute to the global technology ecosystem. We remain focused on the large and growing enterprise software market across our private equity, permanent capital, credit, and public equity investment strategies. 

Content

OVER $50BN CUMULATIVE CAPITAL COMMITMENTS1

$46.8BN

Private Equity

Providing financial capital and operational strategies to build better businesses, drive digital innovation, and deliver high and consistent returns to our investors. 

$1.5BN

Permanent Capital

Engaging in longer investment periods that garner a consistent, steady flow of returns.

$1.3BN

Credit

Providing debt capital to enterprise software companies in the middle and broadly syndicated markets.

$535MM

Public Equity (AUM)

Capitalizing on our knowledge of enterprise software by pursuing a research-intensive long/short equity investment strategy.

OVER $50BN CUMULATIVE CAPITAL COMMITMENTS1

$46.8BN

Private Equity

Providing financial capital and operational strategies to build better businesses, drive digital innovation, and deliver high and consistent returns to our investors. 

$1.5BN

Permanent Capital

Engaging in longer investment periods that garner a consistent, steady flow of returns.

$1.3BN

Credit

Providing debt capital to enterprise software companies in the middle and broadly syndicated markets.

$535MM

Public Equity (AUM)

Capitalizing on our knowledge of enterprise software by pursuing a research-intensive long/short equity investment strategy.

Vista Equity Partners

Momentum in Enterprise Software

In the first half of 2019, we grew committed capital and welcomed a number of best-in-class companies to our ranks. In July, we were pleased to announce the close of Vista Equity Endeavor Fund II. Endeavor makes investments in emerging, high-growth enterprise software companies with market-leading solutions, partnering with them to build infrastructure designed to scale.

PRIVATE EQUITY TRANSACTIONS

0

Platform
Investments

0

Monetization

0

Add-on
Acquisitions

0

Total
Transactions

Platform Investments2

Monetizations3

Add-On Acquisitions4

Click to see Transaction Information

Vista Credit Partners & Vista Public Strategies

Advancing Investment Strategies

Outside of private equity, we experienced momentum with our broader investment strategies in the first half of 2019. Vista Credit Partners publicly announced a $175 million global recapitalization of Meltwater, providing its founder access to new capital while maintaining ownership of the company. Vista Public Strategies continued to execute long/short investments in public technology equities and completed its first private investment, further extending its market opportunity.

Activity Highlights

Credit Transaction

Self-originated direct lending investment – the first deal of its kind for VCP – in a leading media intelligence solutions company.
March

PE PLATFORM INVESTMENT

Visual communications platform providing a scalable and secure solution for enterprises.
March

PUBLIC TRANSACTION

The VPS team’s expertise, relationship with the company, and extensive, proprietary diligence added meaningful conviction to their first private investment decision.

Q2

PE PLATFORM INVESTMENT

SaaS-based development platform enabling users to rapidly develop and deploy applications.
April

PE PLATFORM INVESTMENT

Cloud-based solution for benefits administration.
April

PE PLATFORM INVESTMENT/MONETIZATION

Leading global provider of mission critical, vertical-market ERP software designed for the manufacturing end-market. 
April

PE PLATFORM INVESTMENT

Tailored portfolio monitoring, process management, and business reporting solutions for credit investors and alternative asset managers.
May
Learn More

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Innovating for Growth

In private equity, we continued to pursue opportunities for growth across the Vista ecosystem, empowering our companies to harness next-generation technologies to uncover new opportunities and expand their market superiority.

Current Vista private equity portfolio companies represent the 4th largest enterprise software company in the world.5

Our Competitive Advantage

Collaborative Innovation

A key benefit of the Vista ecosystem is access to tools and opportunities to support innovation. With a network of peers and world-class resources focused exclusively on enterprise software, our private equity portfolio companies continuously learn and innovate through Vista-hosted educational summits, hackathons, and our technology incubator program. So far in 2019, we’ve held more than 12 events and brought together more than 2,000 portfolio company team members to share best practices in areas such as go-to-market success, product and technology leadership, and financial and operational excellence. In our first US-based hackathon, 35 global teams from 27 portfolio companies competed for more than $100,000 in prize money.

There are over 40.5K employees in technical roles across the Vista ecosystem.6

Technology in Action

Cultivating Superior Products and Solutions

As a strategic partner, we work with teams to ensure their products leverage next-generation technologies such as artificial intelligence, machine learning, and blockchain. Our team of dedicated experts support the development of best-in-class products, platforms, and solutions, helping to redefine industries and accelerate success.7

Contributing to our Communities

Giving back to the communities in which we live and work is core to who we are. From investing in job training, increasing access to STEM education, supporting the arts, and protecting the environment, we are proud stewards of a variety of causes and organizations.

Philanthropy Highlight

Inspiring the Next Generation of Technologists9

Vista and our private equity portfolio companies work to ensure students are well-equipped to succeed in the digital economy. Through our partnership with Code.org, we are expanding access to computer science in schools across the globe and support Code.org in its mission to advance policy around computer science education standards. Vista and more than 40 of our private equity portfolio companies have participated in Code.org’s Hour of Code initiative, facilitating hands-on learning events for K-12 students and collectively donating $1 million every year since 2017. In 2018, Vista donated an additional $1 million to the organization, bringing our total Code.org financial commitments across our network to $4 million since the inception of our partnership.

$4MM

In financial commitments to Code.org over three years by Vista and our private equity portfolio companies

400+

hours of code served by Vista and our private equity portfolio companies

13,500+

students impacted across 30+ countries since the inception of our partnership

500+

teachers trained in Code.org curriculum via Vista Sponsorship

The Vista Private Equity Platform10

~64K

Employees across our network

800K+

Customers

$14BN+

Revenue of Companies Combined

⟶ 

60+

Companies

175+

Countries

400+

Vista Employees

⟵ 

~64K

Employees Across our Network

800K+

Customers

$14BN+

Revenue of Companies Combined

60+

Companies

175+

Countries

400+

Vista Employees

~64K

Employees Across our Network

800K+

Customers

$14BN+

Revenue of Companies Combined

60+

Companies

175+

Countries

400+

Vista Employees

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Vista Equity Partners is a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco with more than $50 billion in cumulative capital commitments. Vista exclusively invests in enterprise software, data, and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity. 
For more information, please visit VistaEquityPartners.com

1. Reflects equity commitments inclusive of all Flagship Funds, Foundation Funds, Endeavor Funds, Coinvest Funds, Specifically Managed Accounts, Credit Funds, and VPS, as of 6/30/2019. VPS value includes $100MM investment from VEPF V. VPS figure based off of AUM, not equity commitments, as of 6/30/2019.

2. Inclusive of signed deals as of 6/30/2019. Excludes platform investments MINDBODY and Apptio, which closed in the first quarter of 2019 and were included in the 2018 Vista Year in Review. 

3. All monetizations represent majority transactions only.

4. Inclusive of signed deals as of 6/30/2019. Modern Systems and PERFORM are pending close.  

5. As of 3/31/2019 for Vista Equity Funds. As of latest reported date for other companies. Source: Capital IQ.

Note: Ranking reflects aggregate revenue of Vista Equity Partners' private equity portfolio companies ranked against the top 10 public software companies. Includes all Vista Equity Funds’ Portfolio Companies and Financials as of 3/31/2019, and the latest reported date for other companies. There can be no assurance that historical trends will continue during the life of any Vista fund. Such market peers were selected for this comparison because Vista believes these present direct comparables in the industry within the relevant time period as measured by LTM revenue. Vista recognizes that such selection criteria is subjective, and that others might select other comparable peers based on their assessments of market comparables. There can be no assurance that any pending transactions will be completed.

6. Technical roles across the Vista ecosystem data as of 12/31/2018. 

7. Vista Consulting Group (“VCG”) personnel are not employees or partners of Vista Equity Partners and are compensated separately for their services by portfolio companies or the funds managed by Vista Equity Partners.

8. PWC, “Blockchain is here. What’s your next move?” 2017.

9. Code.org stats and contributions as of 7/8/2019.

10. Vista private equity portfolio company employees, Vista employees, and combined Vista private equity portfolio company revenue data as of 3/31/2019; Vista private equity portfolio company count data as of 4/30/2019; Vista private equity portfolio company customer and countries data as of 12/30/2018.

Disclosures: This document is intended to provide general information regarding Vista’s investing expertise and not for the purpose of soliciting investors for any Vista Fund. Under no circumstances should the information provided be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made to accredited investors and qualified purchasers pursuant to the current offering documents of the relevant Vista Fund. The information provided is strictly confidential and may not be reproduced or disseminated to any third parties without the written consent of Vista. There is no guarantee that future investments will be comparable to the investments shown herein. Certain of the transactions listed herein were signed and agreed to and are expected to close subject to customary closing conditions and regulatory approvals (such as a shareholder vote). There can be no assurance that the acquisition will be consummated at all or on the current terms of the agreement. The past performance of previous Vista Funds and portfolio companies is not necessarily indicative of future results. Investors in Vista Funds may lose investment capital. There can be no assurance that any future Vista Funds or portfolio companies will achieve comparable results. ©2019 Vista