Palisades Growth Capital

Growth Stage
Software Investments

We are a California-based private equity investor focused on providing growth stage capital to mid-sized enterprise software and tech-enabled companies.

We focus on businesses with strong products in growing markets where we can facilitate a change in performance by scaling sales, strengthening leadership, and enhancing operations.

Focus

At Palisades, we are passionate about partnering and supporting companies that offer products and solutions that can help end-customers change their ways of doing business and potentially transform their industries.

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Where We Operate

We target companies headquartered in the United States. We also support many of our existing portfolio companies in their expansion efforts globally.

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Where We Invest

We typically deploy between $5-25m in equity per investment, acquiring both majority and minority stakes. We invest in software companies with proven business models, rich intellectual property, high recurring revenue, and long-term growth potential. We focus on enterprise software companies with scalable business models that are intrinsically profitable. We focus mainly on business-critical software that makes a real difference for the end-customer and carries a solid value proposition in the form of a high ROI. We look for opportunities where we can bring our company building experience to create shareholder value. We are flexible as to the size, form, and structure of investments we make. Our minority investments can consist of both an acquisition of shares from existing shareholders and a capital increase in the company supporting growth. 1

Investments2

Criteria

$5M–$25M Revenue

$5M–$25M Equity

B2B Software & Tech-Enabled Businesses

+25% ARR Growth

Bootstrapped or Lightly Capitalized

No Investment Template (Flexible Structure)

Catalysts

Sales Acceleration

New Product Development

Working Capital

New Market Entry

Liquidity for Founders

Execute Acquisitions

Themes

Customer Experience Management

Software that improves the impact and outcome businesses have with their customers.

Human Capital Management

Software that helps businesses manage and develop their most important asset – their people.

Next-Gen Security

Software that protects businesses from an ever growing and increasingly complex set of threats.

Supply Chain

Software that optimizes logistics and improves the flow of materials and communication between suppliers, businesses, and end customers.

Marketing Technology

Software that helps marketeers raise awareness, identify prospects, and drive leads.

Hospitality Technology

Software and technology solutions targeting end customers across the hospitality ecosystem with a primary focus on the hotel/accommodations, travel and food/beverage segments.

Enterprise Fintech

Software that impacts financial management and financial processes for business.

Sales Technology

Software that drives improvement in sales management, efficiency, and effectiveness.

Financial & Business Operations

Software that optimizes back office workflows, multi-department orchestration, and business process automation

E-Commerce Services

Software that helps B2B and B2C online retailers succeed

Infrastructure Software

Software used to build, deploy, and manage product/service development and delivery.

PropTech

Software that drives impact and improvement in the real estate sector.

Digital Health

Software that helps medical, pharmaceutical, or wellness companies facilitate the coordination and efficiency of care

Payments

Software that facilitates and optimizes how a business spends money and gets paid.

Education Technology

Software that enables learner experiences and outcomes or optimizes the operations of academic institutions.

Support

We help scale businesses by building leadership teams, identifying growth areas, and executing on operational improvements. Our value creation playbook has been developed over more than 20 years of investing in B2B software.

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We Help Build The Leadership Bench

We assist in coaching, recruiting, and strengthening management teams and board members.

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We Help Scale Sales Organizations

We help scale sales and marketing teams with a blended focus on process, sales tools, metrics, and talent.

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We Help Invest In R&D

We support innovation in the product development process including investment in and development of structured product development and innovation processes.

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We Partner With Management

Collaboration matters to us. We work closely with management teams to define success and create a sustainable roadmap for growth. Growth is not always predictable or linear, so we course-correct and refine strategies as necessary. We help build teams, advise on resource allocation, and pursue M&A opportunities. Palisades has established an operating team and partner network that works in conjunction with portfolio company executives and Palisades investment professionals to support execution of high impact strategic initiatives.

Zeel: Creating A Leader In Home Health Services

Case Study

Zeel: Creating A Leader In Home Health Services

Zeel technology helps care professionals manage at home or in workplace care, so patients can enjoy a safer, more convenient, and more rewarding experience with a software-led value proposition. The platform has made significant inroads enhancing the world’s approach to remote and distributed care.

Docupace: Creating A Leader In Wealth Management Ops

Case Study

Docupace: Creating A Leader In Wealth Management Ops

Docupace is a suite of digital solutions with a software-led value proposition focused on wealth management professionals. The platform has made significant inroads enhancing the world’s approach to wealth management operations.

QLESS: Creating A Leader In Queue Management Systems

Case Study

QLESS: Creating A Leader In Queue Management Systems

QLESS is a national leader in the United States with a software led value proposition, operating in an industry with significant potential to transform the world’s appointment scheduling.

People

One Team. One Focus. Our team of investment professionals, located in Los Angeles, works collaboratively with each other and our portfolio companies. Teamwork is embedded into our culture. We believe our collaborative process builds insights, value, and trust. Our goal is to create alignment with management teams and is built into our value creation process. Our investment teams and operating partners focus exclusively on enterprise software and tech-enabled growth stage companies.

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hello@palisadesgrowth.com

Investment Team

Anders Richardson

Partner & Co-Founder

Mr. Richardson co-founded the fund and has more than twenty years of experience in private equity investing and investment banking. He is primarily responsible for deal sourcing, due diligence, execution and portfolio company oversight.

Prior to Palisades, Mr. Richardson worked in the Investment Banking Division of DLJ from 1998 to 2000, where he worked on a number of transactions focused on public and private placements of debt and equity securities and buy-side and sell-side M&A advisory services in a variety of industries.

Prior to DLJ, Mr. Richardson was an Associate in the Merchant Banking Group at Brown Brothers Harriman & Co.

Mr. Richardson received his B.A. from Harvard College and his M.B.A from Harvard Business School.

Christian Hostetter

Principal

Mr. Hostetter is a principal at the firm and has more than thirteen years of investment experience. He supports the firm’s deal sourcing, investment due diligence, transaction execution, value creation initiatives, and portfolio company oversight.

Prior to Palisades, Mr. Hostetter was a principal at Pamoja Capital, a $3.0 billion AuM growth equity and buyout firm where he supported the group’s software and consumer related investment activity.

Prior to this, Mr. Hostetter held various supporting roles in research, origination, execution, and portfolio oversight with Capital Four in Copenhagen and PIMCO in London and Newport Beach.

Mr. Hostetter received his B.A. from Princeton University and his M.B.A. from Columbia Business School.

Kelly Hurley

CFO*

Kelly joined Centre Partners in 2020. As CFO, Kelly is responsible for oversight of the Firm’s accounting and reporting, as well as HR, IT and other administrative functions. Prior to joining Centre, she was the Management Company Controller at American Securities and the Chief Financial Officer of The Arlon Group, both private equity firms. Prior to that, Kelly spent 13 years at State Street Bank and Trust, where she held a variety of roles in their private equity fund administration business. She started her career at PwC. Kelly received a B.S. in Accounting from the University of Scranton, an M.B.A. from Seton Hall University and is a Certified Public Accountant.

Kristyn Yancy

Administrative Assistant / Office Manager

Mrs. Yancy has more than fifteen years of experience in firm operations. Mrs. Yancy joined Palisades Growth Capital in 2017. Prior to Palisades, Mrs. Yancy worked for the French production company Toys Films as an Assistant to the Director/CEO from 2011-to 2016. Before moving to France, Mrs. Yancy worked as an Office Manager for a financial service firm in Beverly Hills from 2007 to 2009 and as a Personal Banker at Wells Fargo from 2004 to 2006. Mrs. Yancy attended Alliance Francais, where she received her Language and Culture certificate.

Meshach Kisten

Controller*

Meshach joined Centre Partners in 2007. As Controller, Meshach is responsible for the Fund’s accounting and reporting, including the preparation of capital calls, distribution notices, partner capital accounts and quarterly and annual financial statements. He also acts as a Liaison with the Fund’s auditors and tax preparers. Prior to Joining Centre, he was a Vice President/Controller at U.S. Trust Alternative Investment Group which he joined after working as a Vice President of Finance at Auda Advisors Associates (now HQ Capital). Prior to that he worked at JP Morgan as a Fund Administrator. Meshach began his career at PricewaterhouseCoopers (PwC) as a Staff Auditor. Meshach has an M.B.A. in Finance from St. John’s University and a B.A. in Accounting from Queens College City University of New York.

Paul D’Addario

Partner & Co-Founder

Mr. D’Addario has twenty-seven years of experience in telecom, media and technology financing, investing and investment banking. Mr. D’Addario is primarily responsible for investor relations, investment monitoring, and managing and advising on exit strategy. Prior to co-founding Palisades he was Managing Director and head of West Coast Media from Donaldson, Lufkin & Jenrette (“DLJ”) from 1994 until DLJ’s 2000 merger with Credit Suisse. He was Managing Director at Credit Suisse from 2000 until 2004. Mr. D’Addario executed numerous equity and debt financings, M&A transactions, Initial Public Offerings in the media, telecom and technology Sectors.

From 1987 until 1994, Mr. D’Addario served as an Associate, Vice President and Senior Vice President at DLJ. In addition to investment banking work, Mr. D’Addario sourced and executed two highly successful deals for DLJ Merchant Banking. Prior to DLJ, Mr. D’Addario worked as an M&A lawyer at Weil, Gotshal & Manges LLP, and Simpson Thacher & Bartlett LLP.

Mr. D’Addario received his B.A. from Boston College, a M.Sc. from London School of Economics, and a J.D. from Villanova Law School.

William M. Tomai

CAO*

Mr. Tomai is responsible for operations and administration. Prior to his current position, he was Senior Vice President and Assistant Treasurer of Donaldson, Lufkin & Jenrette Securities Corp. which he joined after 13 years with the Bank of New York. Mr. Tomai is also a founding general partner of AspenTree Capital, a private investment firm specializing in public securities and venture capital investments for managed accounts. Mr. Tomai previously served on the Boards of Centre Pacific Holdings LLC, Gray Energy Services LLC, and MB Investment Partners and Associates LLC. Mr. Tomai received a B.S. from Vanderbilt University and an M.B.A. from the Wharton School of the University of Pennsylvania.

Anders Richardson

Partner & Co-Founder

Mr. Richardson co-founded the fund and has more than twenty years of experience in private equity investing and investment banking. He is primarily responsible for deal sourcing, due diligence, execution and portfolio company oversight.

Prior to Palisades, Mr. Richardson worked in the Investment Banking Division of DLJ from 1998 to 2000, where he worked on a number of transactions focused on public and private placements of debt and equity securities and buy-side and sell-side M&A advisory services in a variety of industries.

Prior to DLJ, Mr. Richardson was an Associate in the Merchant Banking Group at Brown Brothers Harriman & Co.

Mr. Richardson received his B.A. from Harvard College and his M.B.A from Harvard Business School.

Christian Hostetter

Principal

Mr. Hostetter is a principal at the firm and has more than thirteen years of investment experience. He supports the firm’s deal sourcing, investment due diligence, transaction execution, value creation initiatives, and portfolio company oversight.

Prior to Palisades, Mr. Hostetter was a principal at Pamoja Capital, a $3.0 billion AuM growth equity and buyout firm where he supported the group’s software and consumer related investment activity.

Prior to this, Mr. Hostetter held various supporting roles in research, origination, execution, and portfolio oversight with Capital Four in Copenhagen and PIMCO in London and Newport Beach.

Mr. Hostetter received his B.A. from Princeton University and his M.B.A. from Columbia Business School.

Kelly Hurley

CFO*

Kelly joined Centre Partners in 2020. As CFO, Kelly is responsible for oversight of the Firm’s accounting and reporting, as well as HR, IT and other administrative functions. Prior to joining Centre, she was the Management Company Controller at American Securities and the Chief Financial Officer of The Arlon Group, both private equity firms. Prior to that, Kelly spent 13 years at State Street Bank and Trust, where she held a variety of roles in their private equity fund administration business. She started her career at PwC. Kelly received a B.S. in Accounting from the University of Scranton, an M.B.A. from Seton Hall University and is a Certified Public Accountant.

Kristyn Yancy

Administrative Assistant / Office Manager

Mrs. Yancy has more than fifteen years of experience in firm operations. Mrs. Yancy joined Palisades Growth Capital in 2017. Prior to Palisades, Mrs. Yancy worked for the French production company Toys Films as an Assistant to the Director/CEO from 2011-to 2016. Before moving to France, Mrs. Yancy worked as an Office Manager for a financial service firm in Beverly Hills from 2007 to 2009 and as a Personal Banker at Wells Fargo from 2004 to 2006. Mrs. Yancy attended Alliance Francais, where she received her Language and Culture certificate.

Meshach Kisten

Controller*

Meshach joined Centre Partners in 2007. As Controller, Meshach is responsible for the Fund’s accounting and reporting, including the preparation of capital calls, distribution notices, partner capital accounts and quarterly and annual financial statements. He also acts as a Liaison with the Fund’s auditors and tax preparers. Prior to Joining Centre, he was a Vice President/Controller at U.S. Trust Alternative Investment Group which he joined after working as a Vice President of Finance at Auda Advisors Associates (now HQ Capital). Prior to that he worked at JP Morgan as a Fund Administrator. Meshach began his career at PricewaterhouseCoopers (PwC) as a Staff Auditor. Meshach has an M.B.A. in Finance from St. John’s University and a B.A. in Accounting from Queens College City University of New York.

Paul D’Addario

Partner & Co-Founder

Mr. D’Addario has twenty-seven years of experience in telecom, media and technology financing, investing and investment banking. Mr. D’Addario is primarily responsible for investor relations, investment monitoring, and managing and advising on exit strategy. Prior to co-founding Palisades he was Managing Director and head of West Coast Media from Donaldson, Lufkin & Jenrette (“DLJ”) from 1994 until DLJ’s 2000 merger with Credit Suisse. He was Managing Director at Credit Suisse from 2000 until 2004. Mr. D’Addario executed numerous equity and debt financings, M&A transactions, Initial Public Offerings in the media, telecom and technology Sectors.

From 1987 until 1994, Mr. D’Addario served as an Associate, Vice President and Senior Vice President at DLJ. In addition to investment banking work, Mr. D’Addario sourced and executed two highly successful deals for DLJ Merchant Banking. Prior to DLJ, Mr. D’Addario worked as an M&A lawyer at Weil, Gotshal & Manges LLP, and Simpson Thacher & Bartlett LLP.

Mr. D’Addario received his B.A. from Boston College, a M.Sc. from London School of Economics, and a J.D. from Villanova Law School.

William M. Tomai

CAO*

Mr. Tomai is responsible for operations and administration. Prior to his current position, he was Senior Vice President and Assistant Treasurer of Donaldson, Lufkin & Jenrette Securities Corp. which he joined after 13 years with the Bank of New York. Mr. Tomai is also a founding general partner of AspenTree Capital, a private investment firm specializing in public securities and venture capital investments for managed accounts. Mr. Tomai previously served on the Boards of Centre Pacific Holdings LLC, Gray Energy Services LLC, and MB Investment Partners and Associates LLC. Mr. Tomai received a B.S. from Vanderbilt University and an M.B.A. from the Wharton School of the University of Pennsylvania.

Portfolio3

Exited3

1. There is no asssurance that the underlying companies will meet or maintain these characteristics and/or targets.

2. Past performance is not necessarily indicative of future result for the 25% ARR growth rate.

3. Growth equity investments only; not representative of entire portfolio please contact Palisades for complete list of holdings

4. The links offer access to the Internet websites of our portfolio companies. The information on these sites has been created, published, maintained, or otherwise posted by institutions or organizations independent of us. We do not endorse, approve, certify, or control these websites and do not assume responsibility for the accuracy, completeness, or timeliness of the information located on the site. Visitors to these websites should not automatically use or rely on the information contained therein.

* Palisades entered into a Fund Administration Services Agreement (“FASA”) with Centre Partners Management, LLC (“CPM”) in 2015 to provide finance, bookkeeping, compliance, information technology and other administrative services to Palisades (including the appointment of certain of the CPM’s employees to key financial and administrative positions for the Firm). William, Kelly, and Meshach operate under this FASA with Palisades.