Updata Partners Closes $608 Million Fund VII

WASHINGTON, May 24, 2022 /PRNewswire/ -- Updata Partners, a growth equity investment firm focused on B2B software companies, today announced the final close of Updata Partners VII, L.P., with aggregate capital commitments totaling more than $608 million. The oversubscribed fund is Updata's largest to date and brings committed capital to more than $1.5 billion.

Updata was founded in 1998 by operators from the software industry. Decades of experience have enabled the firm to play an active role in supporting portfolio companies. This approach will continue with Updata VII as the firm seeks to invest in management teams that are looking for both capital and a value-add strategic partner.

"We are incredibly grateful for the support from our limited partners," said Carter Griffin, General Partner. "We enjoy a number of longstanding relationships, and we are excited to welcome several new investors in Updata VII."

Technology innovations have brought down the cost and complexity of starting a software business, allowing for more opportunities to reach scale in a capital efficient manner. Updata sees software's penetration into every corner of the economy as a chance to partner with the next generation of entrepreneurs building great businesses. The firm's recent investments reflect the breadth of the software industry, and include Improvado, CData, Shufti Pro, Landtech, Altus Assessments, Vector Remote Care, Living Security, BoxCast, Liongard, Practifi, and Bigleaf Networks.

"With Updata VII, we expect to continue our dedication to capital-efficient software businesses," said Jon Seeber, General Partner. "We are excited to draw on our long experience as entrepreneurs, managers, and investors as we continue to provide operating expertise to our current and future portfolio."

Updata Partners has historically made a handful of select investments each year, investing up to $100 million of equity per company. The firm prefers to be the first institutional capital and targets investments outside of Silicon Valley.

About Updata Partners
Updata Partners is a leading technology-focused growth equity firm in Washington D.C. with over $1.5 billion in committed capital. Led by an investment team averaging more than 25 years of technology experience, Updata invests in high-growth B2B software and software-driven businesses where the combination of capital and operating experience will help accelerate success. To learn more, please visit updata.com.

Contact
Dan Moss 
Updata Partners 
[email protected]

SOURCE Updata Partners