Vertica raises millions for initial software sector fund

New York-based Vertica Capital Partners closed its first private equity fund at $205 million. The fund was significantly oversubscribed, according to officials, who are partnering with leading software entrepreneurs who have built high growth companies. Some of these include software firms FareHarbor, Splunk and Thycotic. The investors in the new fund include software entrepreneurs, university endowments, charitable foundations, family offices, pension funds, funds of funds and other financial institutions. "Vertica Capital Partners is a firm built to serve the needs of capital-efficient software businesses," said co-founder Vitaly Vorobeychik. "We are fortunate to be partnered with great founders who have driven marketing-leading growth across a variety of end-markets and sales models in software.” Vertica was founded by Vorobeychik and Philip Vorobeychik. Vitaly oversaw software investments at $10 billion fund Meritage Group prior to setting up Vertica, and Philip is a former board member at Kaseya, Thycotic, Tricentis, N2W, Spanning, Cloud Apps, Resolve Systems, QASymphony, LiveAction, FireMon, CloudBolt, CoreView, and Devo. "Our team comes with the experience of investing in over 60 software companies," said co-founder Philip Vorobeychik. "Our focus is working with software entrepreneurs who have go-to-market opportunities in areas we have deep experience in, so we can be confident in helping them accelerate growth. Our network of operators has driven up to 5x the sales and marketing returns of direct competitors. We're fortunate to have learned from – and to be supported by – some of the most innovative founders in the software industry today."

Vertica raises millions for initial software sector fund

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