Firm

Investment Strategy

We have focused on the software industry since our founding.

Vista looks for companies that research and develop a proprietary software solution and either license it to their customers or leverage it internally to create a technology-enabled service. This includes companies that develop and market software, software as a service and technology-enabled business and information services.

Vista’s investment size has historically ranged from $20 million to $700+ million in equity capital. Continuous expansion of best practices and scalable delivery to Vista’s portfolio companies, along with leveraging Vista’s investment committee process to vet transactions, allow Vista to create exceptional value with larger transactions and funding below this range. Vista’s target investments are typically profitable, or nearly profitable, and are past the venture stage of their lifecycle. We are almost always the majority shareholder and in many cases the only outside investor. This reduces the distractions commonly associated with having multiple financial investors and permits us to take a differentiated, long-term perspective. We are flexible and creative and pursue investments using a variety of transaction types including, but not limited to:

  • Management and/or leveraged buyouts
  • Minority investments
  • Growth or acquisition financings
  • Recapitalizations or restructurings
  • Spinouts or divestitures
  • Take private transactions

Profile of an ideal Vista Investment

We believe there are various elements to the software business model that can create a differentiated, scalable, and highly profitable business. Key to Vista’s target selection is identifying specific companies that can be transformed through the implementation of operational best practices into predictable, high cash flow businesses. While our portfolio companies need not fit a specific profile, many of our prospective investments have some common characteristics including:

  • Existing or potential recurring revenue
  • Mission critical, “sticky” solutions
  • Experienced management team
  • Favorable customer characteristics
  • Defensible competitive position
  • Favorable market dynamics
  • Strong customer value proposition
  • Potential for high margins