Updata Partners, a Washington, DC-based growth equity investment firm focused on B2B software companies, closed Updata Partners VII, L.P., at more than $608 million.
The fund brings committed capital to more than $1.5 billion.
Founded in 1998 and led by Carter Griffin and Jon Seeber, General Partners, Updata Partners invests in B2B software & software-enabled businesses. The firm’s investment approach is the following:
- $5M – $50M+ in revenue
- 25% – 100%+ growth
- Bootstrapped or lightly capitalized
- Non-Bay Area
- $15M – $100M+ equity
Updata VII seeks to invest in management teams that are looking for both capital and a value-add strategic partner.
The firm’s recent investments include Improvado, CData, Shufti Pro, Landtech, Altus Assessments, Vector Remote Care, Living Security, BoxCast, Liongard, Practifi, and Bigleaf Networks.