DENVER, July 26, 2022 /PRNewswire/ — Bow River Capital Software’s (“Bow River”) growth equity team announced today that it has completed a majority recapitalization of Altvia with Marlin Equity Partners, a global investment firm with over $8.1 billion capital commitments under management. Bow River will retain a minority stake in Altvia. Terms of the transaction were not disclosed.
Altvia is a proven provider of cloud-based CRM, deal management and investor lifecycle management software specifically designed for private capital markets firms. The Altvia platform more efficiently and cost-effectively manages GP and LP experience, compliance requirements and reporting.
Bow River Capital’s Software Growth Equity team acquired Altvia’s majority stake in May 2020 and, working in partnership with veteran SaaS executives Brie Aletto, Ben HendershotJeff Williams, Kjael Skaalerud and Company Founder Kevin Kelly, has been implementing its performance manual over the past two years. Together, the team organically doubled Altvia’s annualized revenue run rate and invested heavily in research and development to rapidly expand Altvia’s product portfolio.
“The business has undergone a dramatic transformation and this transaction shows the potential of the Software Growth Equity Fund’s performance book and value creation strategies in the search for another market winner,” said John Rader, Managing Director and Head of Software Investments for Bow River Capital. He added, “We are delighted to complete the recapitalization of Altvia and look forward to working with Marlin Equity Partners, Brie Aletto and this outstanding team as we continue to pursue additional growth and scale for the business.
“This is another example of our deep operational expertise focused on supporting exceptional management, installing operational improvements and reporting based on quality metrics, and delivering our thesis quickly. and our investment strategies,” said Maitlan Cramer, principal at Bow River Capital. He further states, “We look forward to partnering with Marlin for this next chapter of growth as we continue to build a market winner together.”
The recapitalization marks another inflection point for Altvia as the company seeks to continue its growth and pursue its product innovation initiatives.
“Participants in private capital markets are rapidly adopting new technologies to drive improvements and efficiencies, as they deal with growing demands from regulators, ESG impacts and expanding partnerships with sponsors” , said Nick Lukens, Managing Director at Marlin. “We look forward to providing our operational expertise and financial support to advance Altvia’s market position, accelerate technology innovation and enhance the capabilities of its existing products for current and future customers.”
Raymond James served as financial advisor and Holland & Hart LLP acted as legal counsel to Altvia and Bow River Capital in connection with the transaction.
Altvia, backed by Bow River Capital and Marlin Equity Partners, translates data into intelligence so you can unleash the power of your relationships. As the first private equity platform built on Salesforce, Altvia combines forward-looking technology with proven processes to fundamentally improve communication and relationships between GPs, LPs and portfolio companies. Founded in 2006 and powering leading businesses around the world, Altvia serves customers on six continents and continues to expand its operations.
Bow River Capital
Bow River Capital is a private alternative asset manager based in Denver, Colorado, focused on investing in the lower middle market across three asset classes including private equity, real estate and software growth capital. In addition to its three private fund platforms, the firm launched the Bow River Capital Evergreen Fund (EVERX) in May 2020, which provides institutional-grade private market access to a wider range of investors. Collectively, the Bow River Capital team has deployed capital across various industries, asset classes and across the capital structure.
Bow River Capital Evergreen Fund is distributed by Foreside Financial Services, LLC, which is not affiliated with Bow River Capital or its affiliates.
Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $8.1 billion capital under management. The company is focused on providing parent companies, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in companies across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s prospects and increase its value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed more than 200 acquisitions. The company is headquartered in Los Angeles, Californiawith an additional office London. For more information, please visit www.marlinequity.com.
SOURCE Bow River Capital