Turn/River Capital
Technology focused growth equity firm
San Francisco, CA
Overall Rank: 15
Category: Emerging Growth
Category Rank: 5
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Profile
Turn/River Capital, a leading technology growth equity and buyout firm, specializes in buyouts, spin-outs, growth capital investments, founder liquidity, and recapitalizations of technology, web, and SaaS companies. This San Francisco-based private equity firm is composed of equal parts investors and operators. With deep expertise in sales, marketing, customer success, and finance, Turn/River acts like a software firm. The team’s operational expertise and proven playbooks allow the firm to accelerate portfolio company sales, marketing, and product development.
These proven practices are precisely why Turn/River reliably and rapidly unlocks transformational growth, producing market-leading companies and building lasting value. Its continued success reflects the firm’s commitment to driving predictable, sustainable, and profitable growth through go-to-market optimization and alignment between founders, executives, and all stakeholders.
Awards
2023 Top Growth Equity Firms
2023 Top 40 Under 40 Growth Investors, Matthew Amico
2023 Top Private Equity Firms
2023 Top Women Leaders in Growth Investing, Joanne Yuan, Priya Diwakar
2022 Top 40 Under 40 Growth, Matt Amico
2022 Top Women Leaders in Growth Investing, Joanne Yuan
2021 Top 40 Under 40 Growth Investors, Matt Amico
2020 Top 25 Growth Equity Firms
2019 Top 40 Under 40 Growth Investors, Joanne Yuan
2018 Top 40 Under 40 Growth Investors, Dominic Ang, Joanne Yuan
2017 Top 40 Under 40 Growth Investors, Dominic Ang
2015 Top 40 Under 40 Growth Investors, Dominic Ang
Key People
Dominic Ang
Managing Partner and co-Founder Dominic Ang spent the first part of his career in investment banking, before joining the startup Plumtree Software. He further developed his software investment expertise at private equity firm Advent International, and then at tech-focused investment firm Vector Capital, where he rose to the rank of Vice President, before joining co-investors to purchase and become CEO of My Perfect Sale (formerly DesignerApparel.com). As CEO, Dominic honed an idea that would become the core of Turn/River’s business philosophy, that software investing is best when done by a team of equal parts operators and investors. From there, Dominic and his colleagues went on to found Turn/River in 2012. Dominic holds a BS in business administration with High Honors from the University of California, Berkeley.
Chase Sorgel
As Operations Partner at Turn/River, Chase Sorgel draws on his prior experiences at software startups and leading PayPal’s performance marketing group and starting his own software company to lead Turn/River’s operations team as they drive portfolio company growth from acquisition to exit. Chase has served on numerous portfolio company boards, including Redwood Software, Tufin, CoSoSys, ActiveState, and ActiveBatch. He also served on the board of HR lifecycle software developer Trakstar from Turn/River’s initial investment in 2017 until its sale to Mitratech in April 2023. He holds a Bachelor of Business Administration in marketing from the Leeds School of Business at the University of Colorado, Boulder.
Joanne Yuan
Partner Joanne Yuan co-heads the investment team at Turn/River. Her experience includes over ten years investing in software at companies like Hellman & Friendman, Google, and Cowboy Ventures. Joanne’s assistance in hiring and growing Turn/River’s investment team has helped shape the experience-driven, collaborative ethos that defines the firm today. Joanne has led numerous deals, including Invicti Security, an application security software company; CoSoSys, a data security software company; and PairSoft, a growing and profitable procure-to-pay software leader that helps over a thousand mid-market and enterprise businesses and nonprofits. Joanne holds an MBA from Stanford University Graduate School of Business and a BS in Finance and a BA in international studies from the University of Pennsylvania, where she graduated magna cum laude.
Key Investments
ActiveState: Invested 2020, exited 2023
Sector: Software/Cybersecurity
ActiveState provides ready-to-use open-source language distributions with dependency management and security functionality. The open-source leader’s software helps developers code more productively and quickly, while allowing enterprises to leverage open-source code securely with built-in compliance features.
ActiveBatch: Invested 2019
Sector: Software/IT
ASCI’s platform, ActiveBatch, enables organizations to develop, integrate, and manage end-to-end IT and business processes. By using a low-code/no-code approach, ActiveBatch coordinates and consolidates automated processes across an array of disparate applications, databases, and platforms.
Commio: Invested 2018
Sector: Software/Communications
Commio is a voice and text messaging API platform that makes it easy to integrate cloud-based communications into customer experiences.
CoSoSys: Invested 2019
Sector: Software/Cybersecurity
CoSoSys provides easy-to-use data security products, focusing on Data Loss Prevention (DLP). Its flagship product, Endpoint Protector, helps companies prevent data leaks with functionalities such as Device Control, Content and Context Aware Protection, eDiscovery (scanning data at rest), and Enforced Encryption.
Invicti: Invested 2017; exited and reinvested 2021
Sector: Software/Cybersecurity
Invicti provides dead-accurate, easy-to-use security scanners for enterprises to automatically find security flaws across thousands of websites, web applications, and web services. Its proof-based scanning technology yields industry-leading detection rates with false positive-free results every time.
PairSoft: Invested 2020
Sector: Software/Financial Automation
PairSoft is a mid-market and enterprise procure-to-pay solution that creates efficiencies through advanced OCR technology, integrations, and workflows.
Redwood Software: Invested 2021
Sector: Software/Business Process Automation
Redwood delivers IT, finance, and business process automation to help thousands of modern enterprises excel in the digital age. Redwood orchestrates and automates business processes across complex hybrid IT environments so enterprise organizations can focus on business agility, cost-efficiency, and customer experiences.
Trakstar: (exited 2023)Invested 2016
Sector: Software/HR Management
Trakstar is an employee lifecycle platform that enables organizations to maximize their most valuable asset, their people.
Tufin: Invested 2022
Sector: Software/Cybersecurity
Tufin is a leading Network Security Automation Platform that allows users to stay in compliance with security audits, protect against network intrusions, and drive ROI with automation.
CEO Reviews
Kevin Greene, CEO, Redwood Software
“Turn/River has pioneered a breakthrough approach to company building and organic growth that few will be able to emulate. At the heart of the firm is a values-based discipline focused on agile, go-to-market innovation, teamwork, and customer success that empowers their companies’ leadership teams to redefine what is possible and to deliver results on a timeline that matters. If you want to win the gold medal in your market, Turn/River is the coach that will unleash your potential and make you a champion.”
“Turn/River has a unique and successful approach to growing software companies. The firm’s playbooks create highly capital-efficient, fast-growing companies, and the T/R team supports the management team along the way — a powerful combination. I am appreciative of the relationships I have been able to cultivate with Turn/River over the past 5 years and the growth we’ve accomplished together.”
