2021 Vista Year in Review
Executive Letter
investments
partnership
Responsibility
Leadership
A Letter
to Our Stakeholders
Last year has shown us more than ever that change is constant. Yet, amidst uncertain economic dynamics and an ongoing pandemic, enterprise software and technology continue to drive digital transformation to create a better tomorrow. Software now underpins and advances almost every part of our global economy, enabling performance, potential and growth.
We are confident that enterprise software will remain the most valuable tool introduced in the business economy for decades to come – powering productivity in the business enterprise, while forever changing the way humanity lives, works and connects.
With this conviction as our north star, we continue to invest in the technology, companies and leaders at the forefront of the digital revolution – a strategy that we believe remains the best use of capital anywhere in the financial markets.
In this letter and throughout the 2021 Year in Review, we provide updates on our investments, portfolio, ESG and DE&I strategies, and our commitment to market leadership. Read more to learn how these initiatives have advanced our human enterprise in 2021.
With an increasing number of investors to choose from, we find that companies partner with Vista for the value we offer beyond capital – and trust in our consistent track record. A key part of Vista’s partnership lies in our technology ecosystem, which provides our portfolio teams access to each other, their knowledge and experience, as well as an extensive network of relationships with major corporates, customers and the research community. We are proud that today’s founders and CEOs recognize Vista’s commitment as a premier partner – and more importantly, of the results we achieved together.
Partnering with the Best
in the software Business
Our Commitment to ESG and DE&I
Last year, we launched our ESG and DE&I Report, The Transformative Power of Technology, outlining the core ESG and DE&I strategies
that underpin our firm’s success.
READ THE REPORT
In these videos, Khalida Ali, Director of Diversity and Inclusion, and Kirk Hourdajian, Vice President of ESG, speak with Shelby Wanstrath, Managing Director of Corporate Growth Initiatives, about what makes Vista’s approach to these important strategies different and how we are accelerating our efforts to enable a better future.
PRIVATE EQUITY AND PERMANENT CAPITAL
Hover to see fund information and click to learn more
We remain the world’s most active enterprise software-focused investor and in 2021 we continued putting capital to work across our investment strategies. Currently, we are tracking a pipeline that is more than 22 times the coverage of our annual deployments in our private equity strategy alone. Our specialization coupled with our experience ensure we stay highly selective – we’ve executed on less than 5% of the private equity opportunities that we’ve evaluated over our history.
transactions
01
Foundation Fund
Platform
Foundation Fund
Platform
Perennial Fund
Platform
Foundation Fund
Platform
Endeavor Fund
Platform
Flagship Fund
Private Toehold
Flagship Fund
Private Toehold
Flagship Fund
Private Toehold
Endeavor Fund
Minority Investment
Flagship Fund
Private Toehold
Foundation Fund
Platform
Endeavor Fund
Minority Investment
Flagship Fund
Platform
Flagship Fund
Platform
Foundation Fund
Minority Investment
Flagship Fund
Platform
Flagship Fund
Acquired by
Stats Perform
Flagship Fund
Acquired by
Pluralsight
Foundation Fund
Acquired by
LogicMonitor
Flagship Fund
Acquired by
IAS
Foundation Fund
Acquired by
Social Solutions
Foundation Fund
Acquired by
Granicus
Flagship Fund
Acquired by
Datto
Flagship Fund
Acquired by
Advanced
Flagship Fund
Acquired by
Mindbody
Flagship Fund
Acquired by
Advanced
Flagship Fund
Acquired by
SmartBear
Flagship Fund
Acquired by
jamf
Flagship Fund
Acquired by
Mediaocean
Foundation Fund
Acquired by
Khoros
Flagship Fund
Acquired by
Olive
Endeavor Fund
Acquired by
ComplySci
Foundation Fund
Acquired by
Granicus
Flagship Fund
Acquired by
Advanced
Flagship Fund
Acquired by
Solera
Foundation Fund
Acquired by
LogicMonitor
Foundation Fund
Acquired by
ESO
Flagship Fund
Acquired by
Solera
Flagship Fund
Acquired by
Solera
Foundation Fund
Acquired by
Aptean
Flagship Fund
Acquired by
PowerSchool
Endeavor Fund
Acquired by
SecureLink
Foundation Fund
Acquired by
Zego
Foundation Fund
Acquired by
Sonatype
Foundation Fund
Acquired by
Naviga Global
Flagship Fund
Acquired by
Advanced
Flagship Fund
Acquired by
PowerSchool
Endeavor Fund
Acquired by
ComplySci
Flagship Fund
Acquired by
Solera
Foundation Fund
Acquired by
Granicus
Foundation Fund
Acquired by
Aptean
Foundation Fund
Acquired by
FWI
Flagship Fund
Acquired by
IAS
Foundation Fund
Acquired by
Aptean
Foundation Fund
Acquired by
Naviga Global
Flagship Fund
Acquired by
PING
Flagship Fund
Acquired by
EAB
Flagship Fund
Acquired by
EAB
Public Listing on the NASDAQ
IPO on the NASDAQ
Public Equity Offerings
Vista Credit Funds
Growth
Financing
Vista Credit Funds
FIRST LIEN
TERM LOAN + WARRANTS
Vista Credit Funds
Growth
Financing
Vista Credit Funds
Series B funding
IPO
SERIES G PRIVATE INVESTMENT
IPO
IPO
Series C Private Investment
With Vista, we're aligned behind the same goal - to create the best possible company. Vista brings all kinds of great capabilities and knowledge into a CEOs office.
Jesper Andersen, CEO
Flagship Fund
Sunny Gupta, CEO of Apptio, spearheaded Oxygen for India, an initiative that brought over 600 oxygen generators to the region at the height of the pandemic. Vista was proud to support this cause.
PowerSchool, Robert F. Smith and
Vista Equity Partners fulfilled $1.25 million in teachers’ requests for school supplies in predominantly black schools in six southern communities via DonorsChoose.
Eleven Vista companies were awarded as part of the Inc. 5000 Fastest-Growing Private Companies in America list.
Ten Vista companies were named as part of the Top 100 Software Companies of 2021 list.
Vista Equity Partners
Named to Inc.’s 2021 List of
Founder-Friendly Investors
The Transformative Power of Tech Investing,” featuring Robert F. Smith, Rene Stewart and
Rachel Arnold
Click to read the interview
Click to read the article
Five Questions with Vista Equity Partners’ Rachel Arnold”
Click to read the article
The private sector is taking the lead on enabling digital inclusion. Here's how.” Written by Robert F. Smith, Founder, Chairman and CEO
Click to download the toolkit
Best Practices To Improve Board Diversity” with contributions from Vista Equity Partners
Click to read the article
30 Under 30 in Finance featuring Brooke Nakatsukasa, Vice President, Flagship Fund
Click to read the article
Women in Private Equity 10 Standouts Talk Mentorship, Diversity and the Future of PE” featuring Shannon Bracken, Senior Vice President, Flagship Fund
Click to read the list
Nick Prickel and
Steven White,
Senior Vice Presidents
of the Flagship Fund,
were named to the
Top 40 Under 40 Growth Investors of 2021 rankings
Click to read the article
Vista’s Khalida Ali Named to 2021
PE Leaders in DEI”
Click to watch the video
Micheal Fosnaugh and Monti Saroya, Co-Heads of the Flagship Fund, and Vista CEOs in “Powering What’s Next: Insights From the Enterprise Software Market”
Click to watch the video
Private Credit and Software Trends: Where Does Vista Credit Partners See It Going?” Featuring David Flannery, President of Vista Credit Partners
Click to read the article
Innovative Debt Financing Could Close The Digital Access Gap. Here’s How” Written by Burke Norton, Co-Head of the Perennial Fund and Senior Managing Director
18 Investments
view transactions
PRIVATE EQUITY AND PERMANENT CAPITAL
55 Add-On Acquisitions
Hover to see fund information and click to learn more
PRIVATE EQUITY AND PERMANENT CAPITAL
10 Monetizations
Hover to see fund information and click to learn more
PRIVATE EQUITY AND PERMANENT CAPITAL
6 Public Listings and Equity Offerings
Hover to see fund information and click to learn more
CREDIT
7 FounderDirect Transactions
Hover to see fund information and click to learn more
PUBLIC EQUITY
5 Minority Private Investments and IPOs
Hover to see fund information and click to learn more
DEEP DIVES
8
Vista’s Pinnacle program paved the path to CEO for me and provided an incredible opportunity to meet so many people across the Vista ecosystem.”
Amy Kadomatsu, CEO
Flagship Fund
With Vista, I had both investors and operating partners to talk about what's coming around the corner and how to best manage the business at scale.
Andrew Filev, CEO
We took the company public
this past June. I'm so proud
of our team and also of our customers and our shareholders. We couldn't have done it
without the support of Vista.
Lisa Utzschneider, CEO
continue the letter
WATCH NOW
Public Listing on the NASDAQ
Public Equity Offerings
Vista Credit Funds
Growth
Financing
Vista Credit Funds
Acquisition Financing
Endeavor Fund
Acquired by
ComplySci
Learn more
View the press release
Watch the Video
View More
View More
vista market leadership
6
7
Add-On Acquisitions
Add-On Acquisitions
Monetizations
Monetizations
Public Listings and Equity Offerings
Public Listings and Equity Offerings
Credit FounderDirect Transactions
Credit FounderDirect Transactions
Public Equity
Minority Private Investments and IPOs
Flagship Fund
Acquired by
Vividseats
Sale to Global Payments
Foundation FUnd
Sale to Citrix
Foundation FUnd
Partial Sale to
Apax Funds
Foundation FUND
Sale to Kantar
Flagship
FUnd
Sale to CVC and
TA Partners
Flagship
FUnd
Partial Sale to
BC Partners
FLAGSHIP
FUND
Partial Sale to
K1 Investment Management
ENDEAVOR
FUND
Sale to Alpine
Investors
Flagship
FUnd
Sale to RLDatix
Foundation FUnd
Sale to InvestCloud
Flagship
FUnd
Flagship and Foundation Funds
Flagship Fund
Flagship Fund
Flagship Fund
Flagship Fund
IPO on the NYSE
Flagship Fund
Public Equity
Minority Private Investments and IPOs
Endeavor Fund
Platform
Foundation Fund
Minority Investment
Flagship FUnd
Acquired by
EAB
Flagship Fund
Acquired by
Acquia
Flagship Fund
Acquired by
JAMF
Foundation Fund
Acquired by
Aptean
Flagship Fund
Acquired by
xactly
Flagship FUnd
Acquired by
Apptio
Foundation Fund
Acquired by
APTEAN
Flagship Fund
Acquired by
EAB
Flagship Fund
Acquired by
Advanced
Flagship Fund
Acquired by
PING
Flagship Fund
Acquired by
quickbase
Sources & Disclosures >
Vista is a leading global investment firm with more than $86 billion in assets under management as of September 30, 2021. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com.
175+
17
Countries
300MM+
16
Users
1.4MM+
15
SMB Users
800K+
Customers
14
75K+
Employees
13
70+
Companies
12
Private Equity Portfolio
$86BN+
TOTAL
$76.4BN
Private Equity
$2.5BN
Permanent Captial
$6.4BN
Credit
$1.0BN
Public Equity
Assets Under Management
11
learn more about vista
Investments
Investments
restart
Capital Allocators
Podcast
Featuring Robert F. Smith,
Founder, Chairman and CEO
Click to listen
to the podcast
market
narratives
podcast
Featuring David A. Breach, President and Chief Operating Officer
Click to listen
to the podcast
Click to listen
to the podcast
The Deal
Podcast
Featuring Rene Stewart,
Co-Head of the Endeavor Fund
and Senior Managing Director
Click to learn more
Modern Governance 100 featuring Bessie Watts, Director of the External Board Member Program
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vista market leadership
Capital Allocators
Podcast
Featuring Robert F. Smith,
Founder, Chairman and CEO
Click to listen
to the podcast
Click to read the interview
The Transformative Power of Tech Investing,” featuring Robert F. Smith, Rene Stewart and
Rachel Arnold
Click to read the article
30 Under 30 in Finance featuring Brooke Nakatsukasa, Vice President, Flagship Fund
Click to watch the video
Micheal Fosnaugh and Monti Saroya, Co-Heads of the Flagship Fund, and Vista CEOs in “Powering What’s Next: Insights From the Enterprise Software Market”
Click to download the toolkit
Best Practices To Improve Board Diversity” with contributions from Vista Equity Partners
Click to read the article
Women in Private Equity 10 Standouts Talk Mentorship, Diversity and the Future of PE” featuring Shannon Bracken, Senior Vice President, Flagship Fund
Click to read the article
Five Questions with Vista Equity Partners’ Rachel Arnold”
Click to read the list
Nick Prickel and
Steven White,
Senior Vice Presidents
of the Flagship Fund,
were named to the
Top 40 Under 40 Growth Investors of 2021 rankings
Click to read the article
Vista’s Khalida Ali Named to 2021
PE Leaders in DEI”
Click to read the article
The private sector is taking the lead on enabling digital inclusion. Here's how.” Written by Robert F. Smith, Founder, Chairman and CEO
Click to watch the video
Private Credit and Software Trends: Where Does Vista Credit Partners See It Going?” Featuring David Flannery, President of Vista Credit Partners
Click to read the article
Innovative Debt Financing Could Close The Digital Access Gap. Here’s How” Written by Burke Norton, Co-Head of the Perennial Fund and Senior Managing Director
CLick for more insights
learn more about vista
9
10
6 Public Listings and
Equity Offerings
9
Public Equity
Minority Private Investments and IPOs
Public Listings and Equity Offerings
Monetizations
Add-On Acquisitions
Investments
Vista Credit Funds
Growth
Financing
Vista Credit Funds
Growth
Financing
Vista Credit Funds
FIRST LIEN
TERM LOAN and
WARRANTS
Vista Credit Funds
Growth
Financing
Vista Credit Funds
Acquisition Financing
Vista Credit Funds
growth
Financing
Vista Credit Funds
Growth
Financing
Vista Credit Funds
Series B funding
Credit FounderDirect Transactions
