Activant Capital Announces New $257 Million Fund

By Amit Chowdhry ● April 10, 2020
  • Activant Capital announced a new $257 million fund to invest in commerce infrastructure technology

Growth equity fund Activant Capital is a venture capital firm that is known for investing in infrastructure platforms that help to make, move, and sell more efficiently. Recently, Activant Capital announced a new $257 million fund to invest in commerce infrastructure technology. The firm typically invests between $15 million and $60 million in high growth companies, usually as the lead investor.

Launched in 2014 by Steve Sarracino, Activant Capital has grown to more than 10 people who work closely with the firm’s portfolio. The firm closed its first fund in 2015. And with its third fund, now the firm manages over half a billion dollars on behalf of major universities, endowments, and charitable foundations.

And Activant’s operational assistance spans areas such as sales, organizational structure, go-to-market strategy, product, and finance. The firm spends significant time on-site with portfolio companies and is frequently involved in hiring and commercial introductions. Activant has partnered with over a dozen infrastructure companies spanning from logistics to fintech.

Some of the firm’s more recent investments include mortgage tech company Better, end-to-end checkout platform Bolt, AI-powered fulfillment network Deliverr, and payments infrastructure company Finix. Some of the firm’s exits include Hybris (acquired by SAP for $1.4 billion), Upland Software (IPO), and Celect (acquired by Nike in 2019).

Activant Capital is advised by placement adviser Rede Partners and law firm Latham & Watkins, LLP.

Key Quotes:

“The next winners in commerce are going to offer the tools and plumbing in two distinct areas, one to give every company a seamless online experience and two, to help old industries through digital transformations. Amazon has forced everyone in commerce to compete on 3 factors: seamless checkout, seamless fulfillment and product availability. We invest in and partner with growth companies that are revolutionizing commerce and arming businesses with the infrastructure needed to compete and win,” 

-Activant Capital founder and Managing Partner Steve Sarracino