Press release

Updata Partners Closes $308 Million Software Growth Equity Fund

Sponsored by Businesswire

Updata Partners, a growth equity investment firm focused on B2B software companies, today announced the final closing of Updata Partners VI, L.P. with aggregate capital commitments totaling over $308 million. The oversubscribed fund continues Updata’s strategy of investing in software and software-driven companies with meaningful scale and rapid growth. The fundraising is Updata’s largest to date, bringing the firm’s cumulative committed capital since inception to more than $1 billion.

“This new fund is a validation of our growth equity strategy and we are grateful for the continued support from our investors” said Carter Griffin, General Partner. “Updata’s founders were some of the earliest pioneers in the software industry and it is a privilege to continue their legacy by supporting other entrepreneurs in the space.”

Updata’s leadership averages more than two decades in the software industry, first as operators and then as investors. They take a hands-on approach to working with capital-efficient software companies whose management teams are looking for both a capital provider and a strategic partner. As software continues to proliferate beyond historical market segments into new corners of the economy, Updata sees a tremendous opportunity to help create the next generation of great software businesses.

“The best companies are led by teams who understand that building great products and executing on customer-focused strategies are the keys to success in the software industry” said Jon Seeber, General Partner. “We are excited to continue working alongside innovative companies and to continue Updata’s legacy of success.”

Updata Partners VI, L.P. will seek to make a few select platform investments each year, typically investing $10-30 million of equity into each business with the potential for larger investments through LP co-investment. Updata prefers to be the first institutional capital into a company and targets investments outside of Silicon Valley. To date, Updata has invested in more than 60 companies across North America, Europe, and Australia.

Updata Partners provides growth capital to market leading software companies. Led by a team averaging more than 20 years of operating and investment experience in the software industry, we invest in high-growth businesses where the combination of our capital and growth expertise will help accelerate success. With more than $1 billion in cumulative committed capital since inception, we have provided growth equity funding to over 60 leading technology companies. For more information, visit