Portfolio News


Thoma Bravo buys majority stake in Apttus

Thoma Bravo agreed to buy a majority stake in Apttus, a San Mateo, California based provider of quote-to-cash business process automation solutions that had raised over $400 million in venture capital funding (most recently at a $1.8 billion valuation). Backers included Premji Invest, Salesforce Ventures, K1 Capital, Iconiq Capital, IBM Ventures and Kuwait Investment... read more

MediaMath Closes Equity Round

MediaMath added $225 million in equity financing from Searchlight Capital LP.  MediaMath helps leading global marketers deliver personalized digital advertising across all connected touchpoints. Over 9,500 marketers in 42 countries use their enterprise software every day to launch, analyze and optimize their digital advertising campaigns across mobile, video, audio, social, native, digital out of home and Advanced TV... read more

Apttus raises $75 million

Since Fountain Partners first provided financing to Apttus in 2014 the San Mateo company has expanded its product set and customer counts at an accelerating rate. Apttus has grown way beyond “quote to cash” software to a full suite including contract management, revenue management, price quote optimization and more. Apttus had been reported to be planning for an IPO during 2017 following a $55 million equity round that valued the company in excess of $1 billion. In May, 2018 Golub Capital announced that it had provided $75 million in debt financing to... read more

Norwest Venture Partners Invests $20 million in Onsite Dental

Norwest Venture Partners has a strong tradition in healthcare investing and is carrying that forward at the start of 2018 with their investment in Onsite Dental.  Fountain Partners has been a creative non-dilutive partner in so many different situations but Onsite provided a new opportunity to finance the actual physical dental practice – not just the chairs and equipment but the entire building on wheels.  Onsite had been saving employees in Silicon Valley and across the country precious time by providing their dental practices (on wheels) in the parking lots right outside their clients workplace.  Companies like Intel, Boeing, SpaceX, LinkedIn, eBay, Facebook and others choose Onsite to bring dental services to their... read more

Urban Remedy closes $17 million round led by 301 Ventures

Urban Remedy produces excellent tasting, good for you, non GMO, fresh beverages, meals and snacks out of Point Richmond in the bay area. The company has had Fountain’s support since 2016 when we helped fund the company’s plans to double its number of retail locations and expand product distribution throughout all NorCal Whole Foods and eventually all of Southern California as well. We welcome General Mill’s 301 Ventures arm to the equity syndicate backing the next leg of growth for this great local success story. Learn more at... read more

Tesla Supplier Futuris Acquired by Adient

Adient announced that it completed the acquisition of Futuris for $360 million.  Futuris had been spun out of an Australian holding company with backing from Merv Dunn and Clearlake Capital.   Fountain Partners became involved when Futuris began supplying seating for Tesla’s Model S.  Fountain financed the initial set of equipment in Tesla’s Fremont factory as well as Futuris’ build out of its new space in... read more

Fountain Partners Provides Lease Line of Credit to Lift It Rentals up to $6 million

SAN FRANCISCO, California; June 12, 2016 — Fountain Partners and Lift It Rentals announce a partnership enabling Lift It Rentals to access up to $6 million in equipment leasing. Lift It Rentals provides long term equipment leasing in the United States to various industries including commercial/residential construction, farming, oil/natural gas and industrial applications. The lease line of credit will allow Lift It Rentals to continue to expand its market presence and customer base. Paul Adkison, Founder and Chairman of Lift It Rentals said “as our organization continues to grow and expand, the need to for the right financial partner is critical. Fountain Partners worked to understand our unique business model and quickly realized the opportunity for everyone involved. The lease lines of credit they are providing will allow us to continue our high rate of growth and continue to expand into other markets that utilize our products and services.” Scott Diggs, President of Lift It Rentals added “Fountain Partners think like entrepreneurs and understood not only where we were but more importantly where we were going.” Lift It Rentals provides long term rental/leases of material handling equipment called a “tele-handler”. The company has strategically and exclusively focused on equipment manufactured by Merlo. Located in Cuneo, Italy, Merlo is one of the oldest and largest tele-handler equipment manufacturers in the world and first to introduce the unique, yet versatile, tele-handler in 1981. About Lift It Rentals: Lift It Rentals, LLC, founded by Paul Adkison in Charlotte, NC, provides long-term rental/leases of material handling equipment called “tele-handler” across the United States. Together with partner Scott Diggs, Lift It Rentals has strategically and exclusively focused... read more

Cytovance Biologics Acquired

According  to PEHub  : “Cytovance® Biologics, Inc. (“Cytovance”), a Great Point Partners (“GPP”) I, LP portfolio company and leading biopharmaceutical contract development manufacturing company (CDMO),  announced today that it has been acquired by Hepalink USA Inc. (“Hepalink”) for $205.68M in cash. Through the Cytovance acquisition, Hepalink USA Inc. and its parent company Shenzhen Hepalink Pharmaceutical Co., Ltd. add a leading biologics CDMO to its current U.S. operations. Cytovance manufactures protein and antibody drugs for biotechnology and pharmaceutical companies throughout the world. “This transaction expands our ability to develop and grow both our domestic and international businesses and will accelerate our current expansion plans in our Oklahoma City facilities,” said Mr. Darren Head, President and Chief Executive Officer of Cytovance. He added, “Great Point Partners has been an outstanding private equity partner that arranged debt financings enabling growth, helped us recruit senior executives, and that provided Dr. Bernhard Hampl, former CEO of Sandoz USA, from their CEO Advisory Board as Co-Chairman.” The press release can be... read more

CONMED Announces Definitive Agreement to Acquire SurgiQuest, Inc.

According to Businesswire: “CONMED Corporation (NASDAQ: CNMD) today announced a definitive agreement to acquire privately-held SurgiQuest, Inc. (SurgiQuest) for $265 million on a cash-free, debt-free basis. The transaction will be financed through a combination of cash and borrowings under a new credit facility. The transaction is subject to customary closing conditions, including receipt of U.S. regulatory approval, and is expected to close in the first quarter of 2016…” The official press release and more information can be... read more

Fountain Partners Finances Key Tesla Supplier

According to Clearlake Capital: “Futuris Automotive (“Futuris”), a leading global automotive components supplier, today announced the expansion of its North American business with the opening of a new manufacturing facility and design center in Newark, CA, one of several such facilities planned as part of Futuris’ growth and investment strategy in North America. Futuris’ Newark facility is 160,000 square feet, and includes state-of-the-art, vertically integrated equipment to manufacture automotive seating and interior systems. It will also include a design and craftsmanship studio as well as testing, validation and quality centers, and is expected to grow quickly to circa 400 employees…” “The Newark plant opened for business in August 2014, and is located in close proximity to Tesla’s vehicle assembly plant in Fremont, CA. Futuris is a key supply partner to a range of the world’s top vehicle producers, including Tesla, with contracts for the design and manufacture of full seat systems and headliner modules for both the current Tesla Model S sedan and the future Model X SUV. The Newark facility will initially be equipped to manufacture many of Futuris product offerings, including seat assemblies, welded seat frames, seat foam and headliner moldings…” The original press release and more detail can be found here.... read more