2019 Year in Review – Vista Equity Partners

Year in Review 2019

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Transformation is built, not found.

Twenty years ago, Vista founded its investment platform on the belief in the power of enterprise software. Collectively, the Vista ecosystem continuously strives to transform the way we live, work, and create through technology. 2019 was no exception. Vista companies harnessed emerging technologies, explored new ideas, and expanded our global reach – and impact.

2019 was no exception. Vista companies harnessed emerging technologies, explored new ideas, and expanded our global reach – and impact.

Reach Across

Industries

We provide financial capital, operational expertise, deep industry knowledge, and access to world-class tools and resources that support innovation, enabling Vista companies to invest in advanced technologies and seize market opportunities.

Agriculture

Automotive

Education and Nonprofit

Energy

Financial Services

Government

Healthcare

Hospitality

HR and Recruiting

Insurance

Legal

Managed Services

Retail

Sales and Marketing

Security and Privacy

Sports, Media, and Entertainment

Telecom

Transportation

The following industries are leading the digital revolution while elevating the enterprise software industry. Their solutions impact consumers on a daily basis, presenting opportunities to improve human experiences at home, school, work – and beyond.

Sports, Media, and Entertainment

Investing in world-class solutions for athletes, media, and connected consumers.

Stats Perform is transforming the sports industry through the power of artificial intelligence. By unlocking data-driven insights and predictions, Stats Perform enhances player knowledge and strategy while transforming the way we watch and experience sports.

Education and Nonprofit

Improving the education ecosystem for students, teachers, and academic institutions across the globe.

PowerSchool gives students everywhere an equal opportunity to a high-quality education. The company is crafting technology solutions to meet the unique needs of the entire education ecosystem from students to teachers to administrators.

Financial Services

Harnessing next-gen technology to bring efficiency and effectiveness to the financial services industry.

Through artificial intelligence and machine learning, RDC empowers institutions to fight financial crime. By providing intelligent, automated screening solutions, RDC protects the world’s financial systems from risk and infiltration.

Steady Disruption.

Endless Possibilities.

Transformed by Technology

Technology is transforming the world around us more than ever. Vista's team of dedicated experts supports the development of best-in-class products and solutions, helping to redefine industries, accelerate success, and serve customers in over 60 sectors across the globe.¹

Together with our investors, we leverage the Vista platform to impact the world around us. We look forward to continuing this momentum and commemorating 20 years of enterprise software investing in 2020.

~60% of Vista portfolio employees in technical roles²

40+ Vista company teams participated in hackathons across the globe in 2019³

Spearheaded 20 artificial intelligence and machine learning initiatives in 2019⁴

Evolving Our Investment

Strategies

Over $52 Billion in Capital Commitments⁵

Our private equity team closed a record-breaking $16 billion⁶ for Vista Equity Partners Fund VII and closed on Vista Equity Endeavor Fund II. Ping Identity’s debut on the New York Stock Exchange marked another private equity milestone as the first Vista portfolio company to go public, and on the first day of trading, Ping’s shares exceeded expectations, rising by 34%.⁷

With the acquisition of Accelya, Vista Equity Partners Perennial made its first-ever investment and continued seeking longer-term value creation opportunities to partner with companies and management teams.

Vista Credit Partners pursued founder direct transactions, securing deals with Meltwater, Afiniti, OpenGov, and Axxess, totaling a combined $326 million.⁸

Vista Public Strategies completed its first investment in a private company in 2019 and continued to execute a long/short equity investment strategy.

Capital Commitments By Investment Strategy⁹

Hover for details

$49BN

Private Equity

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

$1.5BN

Permanent Capital

Engaging in long-term investments that garner a consistent, steady flow of returns.

$1.5BN

Credit

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

$610MM

Public Equity
(AUM)

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

Capital Commitments By Investment Strategy⁹

Click for details

$49BN

Private Equity

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

$1.5BN

Permanent Capital

Engaging in long-term investments that garner a consistent, steady flow of returns.

$1.5BN

Credit

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

$610MM

Public Equity
(AUM)

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

Private Equity

Transactions

2019 Activity

Platform Investments

Add-On
Acquisitions

Monetizations

Initial Public Offerings

Total Transactions

Platform Investments¹⁰

Add-On Acquisitions¹¹

Hover to see transaction information

Click to see transaction information

Monetizations¹²

Initial Public Offerings¹³

Expanding Our

Global Presence

Global Impact

The opening of a Vista Consulting Group office in Singapore reflects our commitment to building upon the extensive work of Vista companies throughout Asia. The VCG Singapore office also provides additional operational support for Vista companies in the region. By expanding our international presence, we will foster strategic relationships and widen our global talent pool.

13K+ employees in Asia¹⁴

Portfolio company offices in ~235 cities across 175+ countries¹⁵

73K global portfolio company employees¹⁶

Increasing

Our Impact

Community Highlight

An investment in our communities is an investment in our future. In 2019, Vista gave back to the communities in which we live and work by championing access to education, creating jobs and improving access to training, and supporting the arts and environment.

The Vista and Code.org Partnership¹⁷

Vista is committed to ensuring students have the skills and tools necessary to thrive in the digital economy. By partnering with Code.org, we're helping to expand access to computer science in schools across the globe.

Portfolio Companies Volunteered

13.5K

Students Impacted

400+

Hours of Code Served

750+

Teachers Trained

The Vista Private Equity Platform¹⁸

710K+

Portfolio Company Customers

200MM

Users

175+

Countries

60+

Companies

73K+

Portfolio Company Employees

4TH

Largest Enterprise Software Company in the World

Learn More About Vista

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 $52 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. Vista Equity Partners, 10/24/2019.

2. Vista Equity Partners, 12/11/2019, portfolio employees in technical roles.

3. Vista Equity Partners, 12/10/2019, hackathon participation.

4. Vista Equity Partners, 12/03/2019, AI and ML initiatives count.

5. Vista Equity Partners, 10/15/2019, Note: Reflects equity commitments inclusive of all Flagship Funds, Foundation Funds, Endeavor Funds, Perennial Funds, Co-invest Funds, Specially Managed Accounts, Credit Funds and VPS. VPS value includes $100MM investment from VEPF V. VPS figured based off of AUM, not equity commitments as of 12/31/2019.

6. The Wall Street Journal, "Vista Equity Raises $16 Billion for Latest Tech Buyout Fund," 09/05/2019.

7. The Wall Street Journal, "Ping Identity Listing Marks IPO Milestone for Vista," 09/19/2019.

8. Vista Equity Partners, 11/19/2019.

9. Vista Equity Partners, 10/15/2019, Note: Reflects equity commitments inclusive of all Flagship Funds, Foundation Funds, Endeavor Funds, Perennial Funds, Co-invest Funds, Specially Managed Accounts, Credit Funds and VPS. VPS value includes $100MM investment from VEPF V. VPS figured based off of AUM, not equity commitments as of 12/31/2019.

10. Inclusive of signed and publicly announced deals as of 12/31/2019. Excludes platform investments MINDBODY and Apptio, which closed in the first quarter of 2019 and were included in the 2018 Vista Year in Review.

11. Inclusive of signed and publicly announced deals as of 12/31/2019.

12. All monetizations represent majority transactions only.

13. Inclusive of Initial Public Offering on 09/19/2019.

14. Vista Equity Partners, 10/24/2019, headcount in Asia.

15. Vista Equity Partners, 12/10/2019, portfolio cities; 09/30/2019, countries.

16. Vista Equity Partners, 09/30/2019, global portfolio employees.

17. Vista Equity Partners, 10/01/2019, Code.org stats and contributions.

18. Vista Equity Partners, 09/30/2019, portfolio customers, users, countries, companies, portfolio employees.

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 Funds’ Portfolio Companies and Financials as of 08/31/2019, 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.

Disclosures

The videos in this presentation contain the opinions of past and present Vista Equity Partners portfolio company executives. Vista Equity Partners makes no representation or warranty as to the accuracy or completeness of the information in these videos. It should not be assumed that the portfolio companies discussed in these videos were profitable or that future portfolio companies or experiences will be comparable. Past performance is not necessarily indicative, or a guarantee, of future results. Vista Consulting Group (“VCG”) personnel are not employees or partners of Vista Equity Partners and are compensated separately for its services by portfolio companies or the funds managed by Vista Equity Partners. Portfolio company examples presented herein are for informational purposes only and are intended to illustrate Vista's sourcing experience and the profile and types of investments pursued by Vista. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Further, references to the specific investments included above should not be construed as a recommendation of any particular investment or security.

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 or a recommendation 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 in quality or performance 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. Case studies presented herein are for informational purposes only and are intended to illustrate Vista's sourcing experience and the profile and types of investments previously pursued by Vista. The investments listed should not be assumed to have been profitable. 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 or that historical trends will continue throughout the life of any future Vista Funds or portfolio companies. ©2020 Vista

Reach Across

Industries

Sports, Media, and Entertainment

Education and Nonprofit

Financial Services

Steady Disruption.

Endless Possibilities.

Evolving Our Investment

Strategies

Private Equity

Transactions

2019 Activity

Platform Investments10

Add-On Acquisitions11

Monetizations12

Initial Public Offerings13

Expanding Our

Global Presence

Increasing

Our Impact

The Vista Private Equity Platform18

Platform Investments¹⁰

Add-On Acquisitions¹¹

Monetizations¹²

Initial Public Offerings¹³

The Vista Private Equity Platform¹⁸