Over recent decades, the software sector became a focus area for investors due to its durable high-growth, high-margin characteristics. Now, the sector is experiencing a degree of uncertainty, driven by rapid advancements in artificial intelligence. Software company executives are thus proactively implementing strategies to harness the power of AI while also anticipating possible threats from emerging AI-native competitors.
Experienced software investors have stayed ahead of the curve, assembling expert teams to help portfolio companies adapt, grow, and thrive. These investors are also focused on identifying new opportunities in the evolving market landscape. With a deep understanding of the software sector, they are uniquely positioned to guide companies through periods of complexity, enabling them to secure enduring, competitive market positions.
GrowthCap is pleased to announce The Top Software Investors of 2025. Now in our seventh year running this awards process, we have seen both the volume and caliber of nominees steadily rise, reflecting the growing appreciation for the impact skilled investors have in shaping the future of software companies. Nominees were evaluated based on the support of others in the software ecosystem, which may include their own firm, their portfolio companies, and/or their peers in the industry, among others.
Additional research was then performed to assess each nominee’s overall career, breadth of investing experience, capability for scaling companies, recent investments made and exited, as well as character, among other factors.
The following awardees included in this year’s list represent some of the most accomplished, skilled, and trusted software investors of today. Please join us in recognizing and celebrating their achievements.
Firm: PSG
Title: Managing Director, Co-Head of North America
Tom Reardon is a Managing Director and Co-Head of North America at PSG, where he serves as a key resource to the firm’s investment team and sits on the Investment Committee. Since joining PSG in 2015, Tom has partnered with founders and management teams at inflection points in their development to support them in navigating and capitalizing on transformational growth opportunities.
Tom has been instrumental in driving PSG’s expertise across B2B software, leading investments across SaaS, cybersecurity, workplace productivity, and compliance companies.
He is involved with several of the firm’s portfolio companies, applying his operational expertise to support their needs with tailored growth frameworks through organic growth mechanisms, targeted add-on acquisitions, and strategic initiatives.
Tom received a Master of Business Administration from Harvard Business School and a Bachelor of Arts from Harvard College.
“We are at an inflection point in the software investing space, with significant potential for investors and growth-oriented companies alike. I’m thrilled to be included on GrowthCap’s Top Software Investors list, which reflects PSG’s work to support the management teams I have been proud to partner with throughout the course of my career.” — Tom Reardon
Firm: PSG
Title: Managing Director, Co-Head of North America
Marco Ferrari is a Managing Director and Co-Head of North America at PSG, in addition to serving as an integral member of the firm’s Investment Committee. For over two decades, Marco has demonstrated great ability in identifying high-growth, middle-market software and technology-enabled services companies and helped support them on their paths to transformational growth.
Since joining PSG in 2014, Marco has taken a conviction-driven mindset to investing, having led a variety of investments in software-focused companies across sectors such as health-tech, SaaS, business management, hospitality, and financial solutions.
Currently, Marco is involved with 15 of PSG’s portfolio companies, helping introduce long-term value creation initiatives, accelerate growth, and broaden product offerings with the goal of achieving meaningful scale.
Marco holds a BA in economics from Harvard University and an MBA from Harvard Business School.
“At PSG, I’ve been fortunate to partner with companies whose passion and commitment help drive them to become sector standouts. It’s an honor to be recognized among such an impressive group of investors and leaders, as the software space continues to grow and evolve.” — Marco Ferrari
Firm: TA Associates
Title: Co-Managing Partner
Hythem El-Nazer is a Co-Managing Partner at TA, where he chairs the firm’s Management Committee and is a member of the Executive, Core Investment, and Portfolio Committees. He also serves as co-head of TA’s North America Technology Group, bringing to TA over 22 years of experience working with and investing in some of the world’s leading technology companies. Since joining TA in 2004, Hythem has sponsored 31 investments across North America, Europe, India, and the Middle East. Additionally, he has helped build over a dozen multi-billion-dollar enterprise value companies and has enabled over 300 strategic add-on acquisitions for TA portfolio companies.
Hythem currently serves on the Board of Directors of Advantive, Appfire, Aptean, Certinia, CSI, Gamma Technologies, Idera, insightsoftware, Kinective, Lumivero, Momentive Software, MRI Software, PDI, Revalize, and Sovos. Outside of TA, Hythem serves as a member of the board and executive committee of Sponsors for Educational Opportunity (SEO). He is also Vice Chairman of the Board of the Egyptian-American Enterprise Fund, a board member of Columbia University Business School’s Private Equity Advisory Board, Brown University’s President’s Leadership Council, and the Brigham and Women’s Hospital Board of Overseers. Hythem earned an MBA from Columbia Business School, an AB in economics from Brown University, and a General Course degree from the London School of Economics.
“As the software landscape continues to evolve rapidly, we believe the greatest opportunity lies in backing ambitious leaders who can turn bold ideas into lasting companies. This recognition from GrowthCap is a tribute to our collaborative journey with the founders, executives and visionary teams we have the privilege to work with every day.” — Hythem El-Nazer
Firm: Summit Partners
Title: Managing Director
As a Managing Director on Summit Partners’ Technology Team, Michael Medici draws on more than two decades of experience investing in high-growth companies across the technology landscape. Since joining the firm in 2005, he has built deep sector expertise within several software subsectors, including e-commerce enablement, marketing automation, infrastructure and DevOps, industrial technology, and supply chain. In total, Michael has led or played a significant role in 20 Summit investments, representing more than $1.3 billion in invested capital.
Michael is an active, engaged board member at several Summit portfolio companies. He currently serves on the boards of Fundraise Up, Klaviyo (NYSE: KVYO), MacStadium, Later, and Sifted. His prior investments and directorships include Acacia Communications (NASDAQ: ACIA, later acquired by Cisco), Accedian Networks (acquired by Bridge Growth Partners), Anesthetix (acquired by TeamHealth), Clarabridge (acquired by Qualtrics), Diagnostic Hybrids (acquired by Quidel Corporation), Fermentas International (acquired by Thermo Fisher Scientific), Hiperos (acquired by Opus Global), Logi Analytics (acquired by Marlin Equity Partners), Mi9 Retail (acquired by General Atlantic), and Telerik (acquired by Progress Software).
Michael holds a BS in finance and international business from Georgetown University.
“During my twenty years at Summit, I’ve seen waves of innovation reshape how businesses operate and how people work. What motivates me today is partnering with leaders who are working to push those boundaries further and build enduring businesses with the potential to deliver long-term impact in software, automation, and beyond.” — Michael Medici
Firm: Spectrum Equity
Title: Managing Director
Adam Margolin is a Managing Director at Spectrum, where he focuses on software and information services investments. Adam joined Spectrum in 2005 and has helped lead many of the firm’s investments in financial technology and risk management spaces, as well as in a number of other vertical end markets.
Adam is passionate about partnering with mission-driven companies and management teams to navigate growth at scale, and, in doing so, realize their full potential. Some of his most memorable investments have been major company-building projects that involved the hiring of senior management teams and taking on major growth initiatives – such as the build-out of GTM teams, ramping product innovation, and international expansion.
Adam currently serves on the boards of Empyrean Solutions, Netcraft, Quavo, SavvyMoney, Spreedly, and Zenwork; he is a board observer at Benchmark Mineral Intelligence. Representative past investments include Ethoca (acquired by Mastercard), OffSec (acquired by Leeds Equity), Trintech (acquired by Summit Partners), World-Check (acquired by LSEG), and Verafin (acquired by Nasdaq).
Outside of Spectrum, Adam is a board member at the Boston Public Market and an advisory board member of the Trustees of Reservations. Adam received an AB in English and American literature from Harvard University.
“As I reflect on my twenty years at Spectrum, I feel very fortunate to have had the opportunity to partner with so many amazing founders and business leaders and to collaborate with them in building category-defining companies.” — Adam Margolin
Firm: THL Partners
Title: Managing Director, Head of Technology & Business Solutions, Head of Automation Fund
As head of THL Partners’ Technology & Business Solutions group (TABS) and a member of the firm’s Management Committee, Jim Carlisle has helped drive THL’s evolution from a pioneer in middle-market consumer buyouts in the 1990s to its current position as a leader in middle-market software investing.
Under Jim’s direction, THL launched the firm’s two Automation Funds, with a focus on horizontal and vertical software and hybrid software-hardware technologies. The firm believes that these two cross-sector funds are the first middle-market investment vehicles dedicated specifically to automation.
In his joint capacity, Jim helps direct the firm’s cross-vertical software initiatives, which include software investments in subsectors specific to THL’s core investment areas.
Jim is currently a director of Auction.com, Autostore, Brooks Automation, and Fortna, and a board observer at inRiver and Kinexon. Before joining THL, Jim worked at Goldman Sachs in the Financial Institutions Group. He also serves as a Trustee on The Massachusetts Eye and Ear Infirmary, having served on the Board of Directors for 10 years.
“Investing well today requires a capable team aligned to common goals with a tangible plan to execute. It’s incredibly energizing to help shape outcomes in dynamic sectors with outstanding teams.” — Jim Carlisle
Firm: Summit Partners
Title: Managing Director
Len Ferrington serves as a Managing Director on Summit Partners’ Technology Team. Over his nearly 20-year tenure at the firm, Len has invested in and partnered with numerous high-growth companies across the technology landscape, developing deep expertise across several subsectors, including application software, robotics and automation, cybersecurity, and technology solutions that aim to enhance education, talent, and workforce productivity.
Len has led or played a significant role in 14 Summit investments representing more than $1.8 billion in invested capital. His current board directorships include Keeper Security, Ruffalo Noel Levitz, StackAdapt, and Ylopo, and he is active in the firm’s investment in QAD. Len’s prior board and investment experience includes Access Information Management (acquired by Berkshire Partners), Aeryon Labs (acquired by FLIR Systems), Ascentis (acquired by UKG), Heald College (acquired by Corinthian Colleges), Redzone (acquired by QAD), Smartsheet (NYSE: SMAR), Teaching Strategies (acquired by KKR), Trident University International (acquired by Perdoceo Education Corporation), and Ubiquiti (NYSE: UI, formerly Ubiquiti Networks).
Len holds a BS in accounting from the Leventhal School of Accounting at the University of Southern California.
“To me, the most exciting companies are those using technology to solve meaningful problems, from securing data to improving productivity, to empowering workforces. At Summit, I’m honored to partner with leaders working to build solutions designed to fuel growth and drive lasting value for the industries and communities they serve.” — Len Ferrington
Firm: Summit Partners
Title: Managing Director
Colin Mistele joined Summit Partners in 2011 and today serves as a Managing Director on the firm’s Technology Team. Over his 14+ year tenure, Colin has invested in category-defining software businesses across vertical SaaS, fintech, and property technology, e-commerce enablement, workflow digitization, and subscription-driven consumer platforms. Colin has developed a keen ability for identifying compelling sector themes and innovative growth-stage companies and building trusted relationships with founders and executives leading those businesses.
In total, Colin has led or played a significant role in 24 Summit investments, representing more than $1.0 billion in invested capital over the course of his career at Summit. Colin currently serves on the board at Coderpad, DocuSketch, Foxen, Instrumentl, Jobber, Jungle Scout, onXmaps, PriceLabs, and TextExpander. His investment experience also includes Delphix (acquired by Perforce), Jamf (NASDAQ: JAMF), NinjaOne, Podium, Advanced Cell Diagnostics (acquired by Bio-Techne Corporation), Gainsight (acquired by Vista Equity Partners), InfoArmor (acquired by Allstate Corporation), Reverb.com (acquired by Etsy), Red Canary (acquired by Zscaler, NYSE: ZS), RiskIQ (acquired by Microsoft, NASDAQ: MSFT), TeleSign (acquired by BICS), TSheets (acquired by Intuit, NASDAQ: INTU), and Uber (NYSE: UBER).
Colin holds a BS in finance and marketing, with high honors, from Lehigh University.
“At Summit, I’ve had the privilege of working with growth companies across SaaS, fintech, and technology-enabled platforms. I strive to be a trusted and collaborative partner to founders and executives as they work to scale their businesses into lasting, market-defining companies.” — Colin Mistele
Firm: H.I.G. Growth Partners
Title: Managing Director and Head of H.I.G. Growth Partners
Ross Hiatt is a Managing Director and the Head of H.I.G. Growth Partners, the growth stage technology-focused investment group within H.I.G. Capital. As fund head, he is responsible for the day-to-day activities of H.I.G. Growth Partners.
Ross has over two decades of investing and finance experience, with expertise across consumer internet, fintech, SaaS, and enterprise technology. Before joining H.I.G., he was a senior member of the technology investment team at TPG Capital and was responsible for all aspects of investment sourcing, execution, and oversight. Before TPG, Ross spent ten years at Goldman Sachs, where he worked with some of the world’s leading technology companies. Ross began his career in the high-yield and leveraged finance group at J.P. Morgan.
Ross differentiates himself from other investors through his impressive history of successful investments and IPOs. With his extensive knowledge and experience in operations, digital technology, and overall business expertise, Ross empowers portfolio companies to make transformative change.
Ross is currently the Chairman of the Board of Directors at ProsperOps, Bluum, and WorkSuite. His prior investment and board experience includes Calm.com, Dream11, Goal.com, Age of Learning (ABCmouse), and Pray.
Ross earned a BBA from the University of Texas at Austin and an MBA from the Graduate School of Business at Columbia University, both with honors.
“We are honored to once again be recognized by GrowthCap. This acknowledgment reflects not only the strength of our partnerships with exceptional software and technology companies but also our unwavering focus on driving long-term value creation. At H.I.G., we remain deeply committed to identifying and supporting innovative businesses with the vision to deliver transformative solutions and achieve sustained growth. This recognition is a testament to our team’s dedication and to the extraordinary entrepreneurs and management teams we are privileged to support.” — Ross Hiatt
Firm: TPG
Title: Partner
Art Heidrich is a Partner at TPG, based in San Francisco, where he co-leads TPG’s investment activities in software and enterprise technology. Art currently serves on the boards of Boomi, Digital.ai, Lyric, Nextech, New Relic, Proficy (once closed), Sauce Labs, Surescripts, and WellSky, and has also been involved with investments in Advent Software, C3 AI, Checkmarx, Eze Software, IMS Health, Sonatype, SunGard Data Systems, Vertafore, and Wind River.
Prior to joining TPG in 2011, Art worked at Morgan Stanley. He received an MBA from the Stanford Graduate School of Business, where he was an Arjay Miller Scholar, and a BA in economics from Stanford University.
“It has never been a more interesting time to be a software investor; AI will be transforming large swaths of the economy over the next few years, and software companies need to adapt and retool. We have been building an AI center of excellence to help accelerate and evolve new and existing investments across industries and prepare them to thrive in an AI-centric world. We are excited about what lies ahead and the leadership teams, companies, and corporate partners with whom we’ll have the opportunity to partner.” — Art Heidrich
Firm: TPG
Title: Partner
Flavio Porciani is a Partner at TPG, based in London, where he co-heads TPG Capital’s Software and Enterprise Technology team. Prior to joining TPG in 2023, Flavio was a Managing Director and Partner at Warburg Pincus, where he led the European Technology team. Over the course of his career, Flavio has led and managed several investments across the software ecosystem (financial technology, enterprise resource planning, property management, and industrial and manufacturing).
He received a BS in business administration from the European Business School in Germany and Universidad Argentina de la Empresa in Argentina.
“As enterprises continue to accelerate their digital transformations, the broader European software market is catching up with global peers at a rapid pace. This dynamic presents a compelling opportunity to leverage TPG’s growth-oriented strategy, decades of software investing experience, and deep regional connectivity across key European markets to support management teams in building next-generation software businesses.” – Flavio Porciani
Firm: Summit Partners
Title: Managing Director
As a Managing Director on Summit Partners’ Technology Team, Andy Collins brings more than 17 years of experience partnering with and supporting the growth of category-defining technology companies. Since joining Summit in 2008, Andy has built deep sector expertise across multiple technology subsectors – including cybersecurity and infrastructure software; horizontal and vertical applications; e-commerce marketplaces; and communications technology – which has helped him to recognize significant emerging trends and productively partner with companies at pivotal stages of their development.
Over his tenure, Andy has led or played a significant role in investments totaling over $1.9 billion in capital. His current investment and board experience includes Furnished Finder, Jamf (NASDAQ: JAMF), Jungle Scout, NinjaOne, Output, Podium Corporation, Recharge, and Striim. Andy’s prior experience includes InfoArmor (acquired by Allstate Corporation), NetWitness (acquired by EMC Corporation), Reverb.com (acquired by Etsy), Red Canary (acquired by Zscaler), RiskIQ (acquired by Microsoft), Uber (NYSE: UBER), Ubiquiti (NYSE: UI, formerly Ubiquiti Networks), Wildfire Interactive (acquired by Google), and Winshuttle (acquired by Symphony Technology Group).
Andy holds a BS in finance from Miami University.
“As a growth investor at Summit, I’ve been fortunate to work with executives who are working to build category-defining software businesses in areas like cybersecurity, vertical markets, and e-commerce enablement. I’m energized by the opportunity to collaborate with innovative leaders, drawing on Summit’s deep technology experience to help support companies seeking to scale businesses that drive impact across industries.” — Andrew Collins
Firm: TA Associates
Title: Managing Director
Ashu Agrawal is a Managing Director at TA and a member of the firm’s Core Investment and Portfolio Committees. Based in TA’s Menlo Park office, he helps lead investments in enterprise software and technology-enabled companies, primarily in North America. Ashu has been a technology and software private equity investor for over 24 years and has assisted more than 25 software portfolio companies, offering strategic guidance on organic growth initiatives, accretive strategic acquisitions, material divestitures, capital markets financing, and recapitalizations.
Ashu currently serves on the Board of Directors of Edmunds GovTech, Egnyte, iCIMS, Idera, LeadVenture, Planview, PowerGEM, Radiant Logic, Rocscience, Technosylva, and VitalEdge Technologies. Prior to joining TA in 2011, he was a Principal at Francisco Partners. Outside of TA, Ashu serves on the Board of Trustees at the Phillips Brooks School. He also serves on the Advisory Councils of Cornell University’s Bowers College of Computing and Information Science, as well as the Entrepreneurship at Cornell program. Ashu received an MBA from Harvard Business School, a BS in computer science, and an M.Eng. in operations research and industrial engineering from Cornell University.
“At TA, we strive to partner closely with founders and leadership teams as they navigate complexity, scale, and build enduring businesses. We are grateful to GrowthCap for recognizing the strength of those partnerships and collective impact of our efforts. I look forward to continuing to support exceptional software companies on their growth journeys.” — Ashu Agrawal
Firm: K1 Investment Management
Title: Managing Partner
Taylor Beaupain is a Managing Partner at K1 Investment Management, where he has dedicated his career to investing in category-leading enterprise software companies. He combines deep legal and financial expertise with a collaborative, hands-on approach to partnering with management teams. Known for his ability to guide companies through transformational growth, Taylor leverages disciplined M&A, product innovation, and leadership development to build category leaders that serve as mission-critical systems of record.
Taylor has played a central role in advancing K1’s single-team model, ensuring that every investment benefits from both rigorous execution and long-term alignment. His leadership reflects K1’s values of passion, persistence, humility, and excellence, and he has consistently helped founders and executives unlock durable value across market cycles.
In 2024, Taylor helped lead one of K1’s most notable exits: Axcient, a business continuity and disaster recovery leader acquired by ConnectWise (a Thoma Bravo company). Under K1’s ownership and Taylor’s guidance, Axcient grew ARR by 7.5x, supported by three strategic acquisitions that solidified its market leadership. The transaction contributed to K1 realizing more than $2.9 billion in enterprise value in 2024, including three sales to public companies—underscoring the demand for mission-critical software platforms.
“It’s a privilege to work alongside founders and executives building the next generation of enterprise software leaders. Our role is to provide clarity, discipline, and alignment so that these businesses can scale with confidence and long-term impact.” — Taylor Beaupain
Firm: Insight Partners
Title: Managing Director
Jeff Lieberman is a Managing Director at Insight Partners, where he has seen the enormous power of people and ideas, and their ability to disrupt the world. For 25+ years, Jeff has had a courtside seat watching and working with some of the world’s best entrepreneurs as they scaled innovation and built teams and technology.
Jeff serves on the boards of numerous private and public companies in both consumer internet and software, and has led investments in leading companies such as Qualtrics, DeliveryHero, HelloFresh, Cvent, Mimecast, and Udemy. He brings this experience and insatiable curiosity to the world of philanthropy—he and his wife founded The Monarch Foundation to focus on NYC early childhood poverty, including putting cash in the hands of poor mothers (The Bridge Project), and he is an activist for climate change.
Jeff is a graduate of UPenn’s Jerome Fisher M&T program.
“Throughout my journey at Insight, I’ve continued to be inspired by some of the smartest and most humble people in the industry—founders working relentlessly to grow and scale, teams building with grit, and colleagues who lead with heart. As Insight marks 30 years, I’m grateful to be part of a firm that has not only stood the test of time but continues to partner with founders and management teams to push boundaries and bring their visions to life.” — Jeff Lieberman
Firm: Insight Partners
Title: Managing Director
Teddie Wardi joined Insight in 2017, sits on the firm’s Investment Committee, and leads a team focused on early-growth investments in fast-growing software businesses. His investments include Wiz (definitive agreement to be acquired by Google), Armis Security, Hinge Health, SentinelOne, Atlan, Island, Cognigy, Docker, and many others.
Previously, Teddie was a Partner at Atomico, a major European venture fund, where he led growth investments in SaaS companies. Prior to Atomico, he was with Dawn Capital, focusing on early-stage SaaS investments. Earlier in his career, Teddie co-founded Nervogrid, a cloud marketplace platform acquired by ALSO Group.
Teddie holds an MBA from Harvard Business School and a BSc from Aalto University in Helsinki.
“Insight Partners has the privilege of backing the next generation of software leaders who are bringing world-changing ideas to life. For my colleagues and me, an investment goes far beyond capital—we strive to be a true partner to our founders and executive teams, meeting them with the right resources, at the right time, to help them scale for success. I’m grateful to play a role in their growth journeys as they help shape the future of software.” — Teddie Wardi
Firm: Carlyle
Title: Partner and Managing Director
Steve Bailey is a Partner and Managing Director at Carlyle, where he focuses on growth, middle-market, and large-cap technology investing. Based in Washington, DC, Steve has been with Carlyle since 2005 and has led or served on the board of more than 20 technology investments across nine Carlyle funds and over 35 technology investments throughout his career.
He currently serves on the boards of Abrigo, Exiger, NEOGOV, Net Health Systems, Syniverse, and Unison. Recently, Steve led Carlyle’s 2024 investment in Exiger, a leader in supply chain and third-party risk management software serving government and commercial clients, and oversaw the successful exit of NEOGOV, a widely recognized government technology platform.
Carlyle focuses on investing in vertical market software leaders that sell into industries the firm knows well and where it can add value—primarily the financial services, government, healthcare, and industrial sectors. With deep roots in Washington, DC, Carlyle is uniquely positioned to support companies at the intersection of government, regulated industries, and technology. In these sectors, the firm’s global resources and industry expertise enable management teams to scale, innovate, and deliver long-term value.
“We are actively investing in software companies within our industry power alleys, backing management teams as they scale their businesses and create lasting value. By leveraging Carlyle’s deep vertical industry knowledge, global footprint, and leading AI capabilities, we aim to be a technology-forward partner helping companies accelerate growth and expand their impact.” — Steve Bailey
Firm: Berkshire Partners
Title: Managing Director
Jon Nuger is a Managing Director at Berkshire Partners and a key leader of the firm’s Technology and Communications team. Since joining Berkshire in 2012 as a Vice President, Jon has played an integral role in developing and executing the firm’s technology and software investment strategy. His contributions span building the investment team, expanding Berkshire’s network of executives and advisors, and leading transformative software platform investments across a variety of verticals.
Over his decade-plus at Berkshire, Jon has partnered with portfolio companies including Accela, PDQ, Tango, Access, Forcura, and Medalogix, helping them scale, refine strategy, and unlock growth. He is also a member of Berkshire’s Investment Resource Committee and is deeply committed to mentoring and recruiting the next generation of investment professionals.
Jon’s investment approach is marked by long-term collaboration with management teams, a focus on building durable, mission-critical software platforms, and a commitment to harnessing innovation—including the adoption of AI-driven tools—to create enduring value.
Jon earned his AB, summa cum laude, from Princeton University and his MBA from Harvard Business School. Beyond Berkshire Partners, he serves on the Board and Executive Committee of the Meadowbrook School and the Finance Committee of Boston Collegiate Charter School. In his spare time, he enjoys running, exploring the outdoors, and spending time with his wife, son, and daughter.
“I’m honored to be recognized by GrowthCap alongside such a talented group of software investors. At Berkshire Partners, our success stems from teamwork and a deep commitment to partnering with management teams to build enduring software platforms. This recognition reflects not just my work, but the collective effort of our Technology & Communications team, our portfolio company leaders, and our broader network of advisors. I’m grateful for the opportunity to continue working with such outstanding colleagues to create lasting value.” — Jon Nuger
Firm: B Capital
Title: General Partner
Yan-David Erlich (“Yanda”) is a General Partner at B Capital focused on investments in early-stage venture and growth-stage technology companies.
A seasoned investor, Yanda is also a former operator and four-time venture-backed founder and CEO. Before joining B Capital, Yanda was the Chief Operating Officer and Chief Revenue Officer at Weights & Biases, an AI developer platform. There, he built out and oversaw the sales, customer success, BD & partnerships, strategy, and data science teams. Yanda was an angel investor in the company and served as a Director. He also led the company’s Series A, representing Coatue Management. He had worked there prior to Weights & Biases as a General Partner, helping launch and manage the enterprise practice for the firm’s venture funds.
Yanda founded Parsable, ChoiceVendor (acquired by LinkedIn), Mogad, and Happiness Engines.
Yanda holds a BS in computer science and electrical & computer engineering from Rice University and an MBA from Stanford Graduate School of Business. He is based in San Francisco.
“AI isn’t just hype anymore—it’s solving real problems for real people every day. What excites me most is working with founders who aren’t just riding the wave, but building the foundations that will matter five or ten years from now. From my own founder experience, I’ve seen that success isn’t about having the best model—it’s about shipping fast, listening to customers, and executing relentlessly.
“I’m grateful to work with the incredible team at B Capital and to partner with visionary founders building the next generation of AI companies. This recognition from GrowthCap is really about them—the builders. I’m just here to support them however I can.” — Yan-David “Yanda” Erlich
Firm: Norwest
Title: Managing Partner and Co-Head Growth Equity
Jon Kossow joined Norwest in 2009 and brings over 25 years of investment experience to his role as Managing Partner and Co-Head of the Growth Equity team. Jon is one of two managing partners responsible for the firm, which has $15.5 billion in capital under management.
He invests across a wide range of sectors, with a particular interest in information services, software, internet, and consumer companies. To date, his software investments at Norwest include 1010data (acquired by Advance), Avetta (acquired by EQT Group), Banyan Software, Classy (acquired by GoFundMe), Cotality, Cority (recapitalized by Thoma Bravo), Datacor, Ebbo, GeoComply, Infutor (acquired by Verisk), The Rainmaker Group (acquired by RealPage), The Retail Equation (acquired by Appriss), SRS Acquiom, Turnitin (acquired by Advance), World50, and YipitData. He is an active board member at Ebbo, Vuori, and YipitData.
“At Norwest, our Growth Equity investment team has spent more than a decade working with entrepreneurs and management teams who are building industry-leading software businesses in areas such as compliance technology, vertical SaaS, and information services. I am honored by this recognition and thankful for the Norwest team and portfolio companies that I get to work with each day.” — Jon Kossow
Firm: Apax Digital
Title: Partner
Dave Evans is a Partner of Apax Digital where he focuses on growth equity and buyout investments in high-growth internet, enterprise software, and technology-enabled services companies. He joined Apax in 2009 and is based in New York.
Dave has led or participated in a number of the Apax Funds’ digital deals including Accurate Background, ClassPass (Mindbody), Dealer.com (Dealertrack), DLRdmv, Guesty, Lever (Employ), Magaya, MetaMetrics, Petvisor, TIVIT, and Trader Corporation. In addition, Dave has held several interim operating positions across the Apax Funds’ portfolio, including roles at Trader Corporation, rue21, and FULLBEAUTY Brands. Prior to joining Apax, Dave was a member of the Financial Sponsors Group at Morgan Stanley.
Dave holds an MBA with a concentration in finance from The Wharton School of the University of Pennsylvania and a BA in economics from Duke University.
Dave serves on the boards of Accurate Background, DLRdmv, Guesty, Magaya, MetaMetrics, and Petvisor, and previously served on the boards of FULLBEAUTY Brands, Ideal Protein, and Kepro.
“At Apax Digital, our strategy is grounded in a thematic approach—developing deep conviction in high-growth areas of software and technology – and then partnering with exceptional management teams to support and accelerate their journey. We leverage Apax’s 50-year history, global platform, and operational capabilities to help companies scale faster and strengthen their market positions. The entire Apax Digital team appreciates this recognition and feels privileged to partner with visionary leaders building distinctive, transformative businesses that are shaping industries through technology and innovation.” — Dave Evans
Firm: Level Equity
Title: Co-Founder and CEO
Ben Levin is a Co-Founder and the Chief Executive Officer of Level Equity. He is a passionate investor and entrepreneur who loves to partner with founders and managers who are building compelling and complex businesses. Ben has been an investor in rapidly growing private companies since 1997 and was one of the first institutional investors in numerous category-defining software and technology businesses, dozens of which have achieved successful exits and several of which have scaled to over $100 million in revenues. After spending six years at Insight Partners, Ben co-founded Level Equity with the desire to create an amazing culture and capitalize on emerging gaps in software growth investing, as many top growth equity firms of the era scaled out of this market segment. Ben has led Level as it has raised over $4.5 billion in capital commitments, made over 120 growth investments, and achieved over 60 liquidity events.
Ben aspires to connect deeply with founders and management teams of high-growth software businesses, aiming to meet them where they are and to provide them with the necessary capital and value-creation resources to scale their businesses. He has spent his career sourcing and executing investments in great software companies and helping to enhance their value over time as they chase amazing outcomes.
“I feel super grateful to do this thing that I love. I’ve had the good fortune of spending my career across a number of different investing settings, each of which afforded me the opportunity to work with software innovators during a period in which technology and software were revolutionizing the world around us. In starting and scaling our own business, we’ve tried to build Level with those innovators in mind—to identify, partner with, and support the founders and management teams of these amazing software companies. We feel lucky to be able to deeply engage and impact them as they navigate pivotal moments of growth.” — Ben Levin
Firm: Thoma Bravo
Title: Partner
Mike Hoffmann is a Partner on the Flagship team at Thoma Bravo, one of the world’s largest software-focused investors with over $181 billion in assets under management as of June 30, 2025. He plays an important role for the Flagship platform, the firm’s vehicle for investing in large, market-leading software and technology companies, and has been instrumental in building and scaling the firm’s infrastructure software investing practice. Since joining Thoma Bravo in 2014, Mike has led or played a key role in transformative investments, including SolarWinds, Talend, Verint, Qlik, Calabrio, and ConnectWise, and has helped drive portfolio growth by working closely with management teams and utilizing his deep software sector expertise to fuel innovation and operational excellence. Mike also helped build the firm’s talent base, having led investment team recruitment during a critical growth phase for the Flagship platform. He currently sits on the Board of Directors for three of Thoma Bravo’s portfolio companies.
Mike was previously an investor at Providence Equity Partners and an investment banker at Citigroup Global Markets Inc. He holds an MBA from Stanford Graduate School of Business and an AB in economics from Harvard University.
“It is an honor to be recognized as a GrowthCap Top Software Investor. The energy and commitment that Thoma Bravo’s portfolio companies bring to advancing innovation in software is remarkable and inspiring. I’m proud of what we’re achieving and look forward to supporting our management teams as they tackle new challenges and shape the future of the sector.” — Mike Hoffmann
Firm: Lead Edge Capital
Title: Managing Partner
Brian Neider is a Managing Partner on the investment team where he helps lead all aspects of the firm’s day-to-day operations. He is a member of the Investment Committee, Disposition Committee, and Management Committee of the firm. Brian has led or co-led investments in companies such as Amplitude, Anaqua, Asana, Catawiki, Duo Security, EBANX, Immedis, Kapost, Knock, Lucid, Pacemate, SafeSend, Signal Sciences, Toast, Workhuman, Xamarin, and Yousign. Brian is currently a Board Member or board observer of Catawiki, Copado, PaceMate, and Yousign. Prior to joining Lead Edge in 2012, Brian was a member of the investment teams at both FTV Capital and Bessemer Venture Partners, where he focused on mid-market growth investments in the software, business services, and internet sectors. While at Bessemer, he was integrally involved in building Bessemer’s deal-sourcing initiative.
Brian received his BS in economics from the Wharton School at the University of Pennsylvania and his MBA in finance from Columbia Business School. Brian is based out of the firm’s New York office.
“As software investors, our edge comes from finding capital-efficient founders and management teams and pairing them with the tools and experience they need to grow effectively. I’ve been fortunate to partner with leaders who know how to do more with less and who draw on our LP network of 700+ operators and executives to help them scale smarter and faster. That combination of disciplined investing and network support is what turns great companies into enduring ones, and I look forward to continuing to do that over the next decade.” — Brian Neider
Firm: Lead Edge Capital
Title: Managing Partner
Nimay Mehta is a Managing Partner on the investment team, where he helps lead all aspects of the firm’s day-to-day operations. He is a member of the Investment Committee, Disposition Committee, and Management Committee of the firm. Nimay is currently a board member or board observer of Akuity, Arrive Logistics, Azul Systems, Help Scout, Highway, Holistiplan, Lean Solutions Group, and LiveView Technologies. Nimay has led or co-led investments in companies such as Arrive Logistics, Azul Systems, ClearScore, Delivery Hero, Drillinginfo, Ensighten, eSSENTIAL Accessibility, GlobalVetLINK, Help Scout, Highway, Holistiplan, iParadigms, Lean Solutions Group, LiveView Technologies, Mindbody, SafeSend, Spotify, Uber, VivaReal, Weave, Wise, and Zoom.
Prior to joining Lead Edge in 2011, Nimay held positions on the investment teams at Eastern Advisors, Insight Venture Partners, and General Catalyst Partners, where he invested in growth-stage technology companies. Nimay received his AB in economics from Harvard College. Nimay is based out of the firm’s New York office.
“At Lead Edge, we believe great investors go beyond providing just capital—it’s about unlocking growth through people, ideas, and networks. Over the last decade, I’ve been fortunate to work alongside some of the most ambitious leadership teams in software, drawing on the insights of our 700+ investors to help those companies scale faster and smarter. Leading our value creation work, I’ve seen firsthand how the right connection or piece of advice at the right time can change a company’s trajectory. This recognition is really a reflection of those founders, executives, and peers who work together to make our ecosystem so powerful.” — Nimay Mehta
Firm: Strattam Capital
Title: Co-Founder and Managing Partner
Bob Morse co-founded Strattam Capital in 2014 and serves as Managing Partner. At Strattam, he has shaped the firm’s philosophy of aligning with founders before signing—using a collaborative Five-Point Plan to set priorities upfront and accelerate growth with clarity and trust. He holds board seats at CloudHesive, Daxtra, Green Security, Resource Navigation, and Trax Group. Before Strattam, Bob was a Partner and member of the Investment Committee at Oak Hill Capital Partners and held roles at GCC Investments and Morgan Stanley.
Based in Austin, Bob serves on the Advisory Board of the HMTF Center for Private Equity Finance at UT Austin’s McCombs School of Business. He is a summa cum laude graduate of Princeton University (BSE) and earned his MBA from Stanford Graduate School of Business, where he was an Arjay Miller Scholar.
“I’m honored to be recognized among this group of investors. At Strattam, our mission is to align with founder-led teams before signing—through our Five-Point Plan, we define priorities together, commit with intent, and build lasting value. It’s a privilege to invest in entrepreneurs driving innovation in B2B technology.” — Bob Morse
Firm: Centana Growth Partners
Title: Partner and Co-Founder
Eric Byunn co-founded Centana Growth in 2015 and is one of its Partners. Before founding Centana Growth, Eric spent over 20 years in growth equity and technology. Eric works with portfolio companies Athennian, Cayosoft, CertifID, Jumio, Operto, SheerID, SpyCloud, Teikametrics, The Helper Bees, Thoropass, Vena, and WarrCloud. He previously led investments in companies including Beacon (acquired by Clearwater Analytics), Cloudmark (acquired by Proofpoint), Coremetrics (acquired by IBM), Covario (acquired by Dentsu Aegis Network), Ease (acquired by Employee Navigator), GMI (acquired by WPP), KVS (acquired by Veritas), MarketShare Partners (acquired by Neustar), One, Inc. (acquired by Great Hill Partners), PSS Systems (acquired by IBM), Sentieo (acquired by Alphasense), Sourcecode/K2 (acquired by Francisco Partners), Varicent (acquired by IBM), and Vindicia (acquired by Amdocs).
Eric previously spent 13 years at FTV Capital, a multi-billion-dollar growth equity fund, where he was a Partner, served on the Management Committee, and led investments in enterprise technology.
Eric is a member of the National Air and Space Museum Board and is a CFA charterholder. He received an AB summa cum laude from Harvard College and an MBA from the Stanford Graduate School of Business, where he was an Arjay Miller Scholar.
“The pace of change in financial services and enterprise software has never been greater, powered by the founders and operators who are redefining their industries. To be recognized among my peers this year is an honor, and I am appreciative of the deep privilege of partnering with all of those leaders. At Centana, we remain focused on being long-term partners as they scale, innovate, and build enduring companies.” — Eric Byunn
Firm: BAM Corner Point
Title: Co-Founder and Managing Partner
Rashmi Gopinath is Co-Founder and Managing Partner of BAM Corner Point, an early-growth, enterprise technology–focused venture capital firm built in partnership with Balyasny Asset Management. The firm’s thesis-driven and growth-oriented mindset is underpinned by data science and AI paired with public equities expertise. BAM Corner Point invests in early-growth (predominantly Series B and C) enterprise technology companies across AI, data infrastructure, health tech, application software, cybersecurity, DevOps, and cloud infrastructure.
Rashmi brings over two decades of investing and operating experience in enterprise software. Most recently, she was General Partner and Head of Enterprise Software at B Capital, where she led the firm’s global enterprise software practice and focused on investments in cloud infrastructure, cybersecurity, DevOps, data and artificial intelligence, and application software. At B Capital, she led investments in companies including Lambda Labs, Poolside, DataRobot, FalconX, Clari, Pendo, 6sense, Remote, Own Data (acquired by Salesforce: NYSE: CRM), Innovaccer, Phenom People, Synack, Yalo, Labelbox, and Perimeter81 (acquired by Check Point Software: NASDAQ: CHKP), among others.
Previously, Rashmi was a Managing Director at M12, Microsoft’s venture fund, where she led global enterprise software investments and sat on several boards, including Synack, Innovaccer, Frame (acquired by Nutanix: NASDAQ: NTNX), Contrast Security, and Incorta.
Prior to M12, Rashmi was an Investment Director with Intel Capital, where she was involved in the firm’s investments in MongoDB (NASDAQ: MDB), ForeScout (NASDAQ: FSCT), Maginatics (acquired by EMC), and BlueData (acquired by Hewlett Packard Enterprise: NYSE: HPE), among others. Earlier in her career, Rashmi held go-to-market operating roles at high-growth startups, including BlueData and Couchbase (NASDAQ: BASE), where she led global business development, product, and marketing. She began her career in engineering and product roles at Oracle and GE Healthcare.
Rashmi earned an MBA from Northwestern University and a BS in electrical engineering from the University of Mumbai in India.
Firm: Norwest
Title: General Partner and Co-Head Growth Equity
As a General Partner and Co-Head of Norwest’s Growth Equity team, Ran focuses on growth equity investments across a wide range of sectors including technology, business services, and consumer. He is passionate about investing in leading software and technology businesses that create both strong financial returns and social impact. His current and prior investments include AbsenceSoft (acquired by Luminate Capital), Avetta (acquired by EQT), Banyan Software, Cority (recapitalized by Thoma Bravo), Datacor, Elite Business Ventures, Galvanize (acquired by Diligent), GeoComply, SpryPoint, Supplier.io, Vector Solutions, Velocity Global, and YipitData.
“I’m grateful to GrowthCap for this recognition and honored to be included again among such a talented group of industry leaders. Over my 15 years at Norwest, I’ve been fortunate to partner with entrepreneurs and management teams across a variety of sectors and stages. I am constantly inspired by their ambition and look forward to continuing to help them grow industry-defining companies with the incredible Norwest team.” — Ran Ding
Firm: JMI Equity
Title: Partner
Larry Contrella is a Partner at JMI Equity, where he leads both minority and majority investments in growth-stage software companies, forging trusted partnerships with founders, CEOs, and institutional investors to accelerate growth and create lasting value. He joined JMI in 2010 and currently serves as a director of Apptegy, Bloomerang, ChurnZero, GiveCampus, Incident IQ, RainFocus, and Raptor Technologies. Earlier in his career, Larry was an analyst in the multi-industries group in the investment banking division at Merrill Lynch & Co. He graduated from the Wharton School of Business at the University of Pennsylvania with a BS in economics.
“It’s a privilege to be named among GrowthCap’s Top Software Investors of 2025. The opportunity to work alongside world-class founders and leadership teams to accelerate growth and innovation in software is truly remarkable.” — Larry Contrella
Firm: JMI Equity
Title: Partner
Brian Hersman is a Partner at JMI Equity, focusing on enterprise software investments. He joined JMI in 2008 and currently serves as a director of Eptura, Greenlight Guru, Intradiem, Safe Software, SimpliGov, and Swiftly, and is a board observer at CompanyCam and Visiting Media. Brian leads both minority and majority investments in growth-stage software companies, forging trusted partnerships with founders, CEOs, and institutional investors to accelerate growth and create lasting value. Earlier in his career, he worked at Vista Equity Partners and McKinsey & Company. Brian holds a BA in economics and computer science and an MS in management of information systems from Case Western Reserve University, and an MBA from Harvard Business School.
“I’m honored to be recognized by GrowthCap as one of the Top Software Investors of 2025. Partnering with outstanding founders and leadership teams to drive growth and innovation across the software industry is a privilege.” — Brian Hersman
Firm: PeakSpan Capital
Title: Co-Founder and Managing Partner
Phil Dur is Co-Founder and Managing Partner at PeakSpan Capital, bringing almost 30 years of software investing experience earned while serving on 43 boards to date. Since founding PeakSpan in 2015, he has scaled the firm to over $2.5 billion in AUM, raising approximately $1.9 billion in capital commitments, with each fund significantly oversubscribed.
Under Phil’s leadership, PeakSpan has achieved top-quartile or decile performance across all funds and all metrics, maintained an industry-leading realized capital loss rate of less than 3%, and earned two consecutive designations for PeakSpan as one of GrowthCap’s Top Growth Equity Firms.
PeakSpan specializes exclusively in B2B software companies during their scale-up journey from $5M to $50M+ ARR, focusing on 12 specific verticals, including customer experience management, cyber & digital infrastructure, fintech, and human capital management, among others. This deep specialization enables expertise and pattern recognition impossible for generalist strategies.
Phil directly leads investing efforts in customer experience management and human capital management. Recent firm successes include XOi’s $230 million financing led by KKR Growth (2025), Onboard’s acquisition generating triple-digit IRR (2024), and Cloudbeds and Epignosis each achieving approximately 10x+ growth with over $300 million raised from top-tier investors like Insight Partners and SoftBank.
Phil led the development of the PeakSpan Expert Community, a 400+ member group of seasoned domain and functional experts providing best-in-class operational support, and assisted with the ongoing development of PeakSpan’s family of proprietary technology platforms, which have received four issued patents from the USPTO. This approach has delivered an exceptional growth trajectory, durable outcomes for PeakSpan’s stakeholders, and industry-leading referenceability across PeakSpan entrepreneur partnerships, all of which reinforce the firm’s mission as the partner of choice for growth-stage B2B software entrepreneurs.
“I’m grateful to GrowthCap for this recognition alongside an outstanding group of peers I deeply respect. This honor reflects the dedication of our exceptional team, whose relentless pursuit of our mission continues to drive us forward; the incredible execution of our visionary founders who are building category-defining companies and have chosen PeakSpan as their trusted partner; and the commitment of our amazing LP stakeholders whose support makes our work possible.” — Phil Dur
Firm: Volition Capital
Title: Co-Founder and Managing Partner
Sean Cantwell is a Co-Founder and Managing Partner at Volition Capital where he leads the Software Investment Team. Sean’s current board directorships and investments include ABCS Insights, Automatiq, Black Kite, Cohora, Creatio, Digital Onboarding, GRAX, Growth Signals, hackajob, OneDay, Millions, Tracelink, and Zenarate. His past board directorships and investments include Assent (acquired by Vista Equity), GlobalTranz (acquired by Jordan & Co.), Ping Identity (acquired by Vista Equity), iPipeline (acquired by Thoma Bravo), Visual IQ (acquired by Nielsen), JazzHR (acquired by Employ), and Velocify (acquired by Ellie Mae). Before co-founding Volition Capital in 2010, Sean was an investor at Fidelity Ventures and Summit Partners. Sean holds a bachelor’s degree in business administration from the University of Notre Dame and an MBA from Harvard Business School.
“I am honored to be recognized as a Top Software Investor by GrowthCap. This recognition reflects the exceptional work of Volition’s portfolio companies and the unwavering dedication of the entire Volition team. I am deeply grateful for the opportunity to work alongside such talented and driven individuals.” — Sean Cantwell
Firm: Volition Capital
Title: Co-Founder and Managing Partner
Roger Hurwitz is a Founding Partner at Volition Capital, where he focuses primarily on investments in software and technology-enabled business services. Roger is an active board member for many companies including ButterflyMX, Creatio, Messagepoint, PetScreening, Qure4U, and Securonix. His past investments include PlayerLync (acquired by Intertek), Insite (acquired by Episerver), iPipeline (acquired by Thoma Bravo), Visual IQ (acquired by Nielsen), LoanLogics (acquired by Sun Capital), and Velocify (acquired by Ellie Mae). Before co-founding Volition Capital in 2010, Roger was a Partner at Fidelity Ventures and Apax Partners, where he focused on growth equity investments. Roger received his undergraduate degree from Syracuse University and an MBA from the Wharton School.
“I am grateful to be honored by GrowthCap as a Top Software Investor. I feel privileged to work alongside such impressive founders, executives, and teams who are pushing the boundaries of innovation and building category-defining businesses. This award is a reflection of their vision and determination, as well as the deep commitment of the entire Volition Capital team.” — Roger Hurwitz
Firm: Brighton Park Capital
Title: Partner
Tim Drager is a Partner and member of the Investment Committee at Brighton Park Capital, where he leads investments across software and technology-enabled services, with a focus on infrastructure software, AI, developer tools, and cybersecurity.
Tim has played a pivotal role in several of Brighton Park’s investments, including HITRUST, PortSwigger, Silverfort, DataVisor, Posit, Reltio, Indegene, and Glassbox. Tim currently serves on the boards of HITRUST, PortSwigger, and DataVisor, and as a board observer at Silverfort. He is known for partnering closely with management teams, providing strategic guidance that helps companies scale, innovate, and execute—extending his impact well beyond closing deals.
Prior to Brighton Park, Tim was an investor at Berkshire Partners, where he focused on technology, communications, business services, and consumer retail. He began his career at Bain & Company as a management consultant.
Tim holds an MSc in Financial Economics from the University of Oxford, as well as an MA and BSoSc in Economics from the University of Ottawa.
“It is a real privilege to partner with founders and teams taking on some of the toughest problems in infrastructure, AI, and cybersecurity—building tools at the frontiers of technology that underpin the systems we all depend on. At Brighton Park Capital, we strive to approach these partnerships with a deep understanding of the underlying technology, paired with market knowledge and operational support, to help bridge innovation with commercial strategy and build enduring companies.” — Tim Drager
Firm: Brighton Park Capital
Title: Partner
Sam Kentor is a Partner and member of the Investment Committee at Brighton Park Capital. He has been a key player in shaping the firm’s investment strategy and driving its success.
At Brighton Park, Sam leads investments in software companies with a focus on entrepreneur-led businesses providing innovative solutions to today’s challenges. His keen eye for innovation and deep understanding of the enterprise software landscape have led to impactful investments in many high-growth companies, including Red Rover, Orca AI, LucidLink, Posit, Paradox, Relatient, and AppViewX. Sam currently serves on the boards of LucidLink, Posit, Red Rover, and Orca AI, and previously served on the board of Relatient, where his strategic guidance proved invaluable.
Sam’s ability to identify and nurture promising software companies is rooted in his extensive prior experience, which includes his roles as a Principal at Elsewhere Partners, where he focused on early-stage growth investments in enterprise software, and as a Senior Associate at JMI Equity, where he was involved in notable investments such as Benevity, Schoology, and automotiveMastermind. He began his career at Bain & Company.
Sam received a degree in finance and economics & strategy from Washington University in St. Louis.
“I love partnering with founders as they scale — helping them build enduring companies by bringing on world-class executives and adding structure around strategy, product roadmapping, budgeting, and planning. My goal is always to support their vision while helping them professionalize the business in a way that sets them up for long-term success.” — Sam Kentor
Firm: Delta-v Capital
Title: Partner
Dan Williams is a Partner at Delta-v Capital, where he leads the firm’s infrastructure software practice with a focus on cybersecurity, AI, and DevOps. Over the past decade, he has led investments in Arctic Wolf, Claroty, Corelight, Teamworks, CloudBees, LogRocket, and You.com, among others. His track record also includes successful exits such as Socrata (acquired by Tyler) and Venafi (acquired by Thoma Bravo).
Prior to Delta-v, Dan spent seven years at Cisco in product and engineering roles before joining the corporate development team. He later joined the buyout group at American Capital, working on acquisitions including AAIPharma and Future Food Brands.
Dan began his career as a software developer. He earned a BS in computer science from MIT, where he completed his undergraduate thesis in cryptography and co-invented an encryption algorithm at a cybersecurity startup. He received his MBA with honors as a Palmer Scholar from the Wharton School.
“At Delta-v, we’re dedicated to partnering with amazing entrepreneurs and empowering innovation as they scale. I’m fortunate to have the opportunity to work with so many leaders who are shaping the future of the software industry. It’s an honor to be recognized by GrowthCap for this work, alongside these talented investors.” — Dan Williams
Firm: Five Elms Capital
Title: Partner
Joe Onofrio is a Partner and Co-Investment Chair at Five Elms Capital, a leading growth equity firm that invests in B2B software businesses globally. He joined Five Elms in 2010, and over the last 15 years, has been involved in close to 25 investments across a wide range of software verticals. As a member of the investment committee, Joe draws from his prior experience investing in public and private markets across the US and Asia to support founder-owned SaaS businesses, accelerating growth and further cementing their role as industry leaders.
He currently serves on the boards of several Five Elms portfolio companies, including Crelate, FMX, IntelligenceBank, Karbon, Magma Math, Scilife, Skedda, Userlane, and Vajro. Prior to joining Five Elms, Joe worked as an investor with Jayhawk Capital. Joe holds an MBA from the Stanford Graduate School of Business, where he was an Arbuckle Leadership Fellow, and a BS in finance from the University of Kansas.
“At Five Elms, we’ve honed our approach to transform great products into extraordinary businesses. This award validates our philosophy: innovative products plus remarkable people yield exceptional outcomes. As we continue supporting founder-owned SaaS businesses across diverse verticals, our commitment to being true growth partners remains steadfast. I’m grateful to collaborate with talented founders in scaling category-defining software platforms globally.” — Joe Onofrio
Firm: Updata Partners
Title: General Partner
Carter Griffin is a General Partner at Updata Partners, a firm founded and run by software operators, currently investing its seventh fund and managing more than $1.5 billion of committed capital. Carter’s leadership and hands-on approach ensure that each portfolio company benefits from tailored support, grounded in lessons learned from his operating days and from six fully deployed funds. In addition, Carter leads Updata’s fundraising efforts, cultivating long-term relationships with institutional investors and ensuring the firm’s capital base aligns with the strategic vision.
Today, Carter works with BoxCast, Built In, CData, Lioingard, Nerdio, PerformYard, and Practifi. His impact is evident in Updata’s track record, with thirteen exits since 2020.
Carter holds a BS in business administration from the University of North Carolina at Chapel Hill and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University.
“This recognition reflects the vision of the founders and teams we proudly support, as well as the dedication of the Updata Partners team. Since our founding, we have remained committed to disciplined growth investing and to helping software companies navigate complexity, accelerate innovation, and achieve scale. I am honored to be recognized among the industry’s leaders and remain focused on building enduring businesses.” — Carter Griffin
Firm: Updata Partners
Title: General Partner
Jon Seeber is a General Partner at Updata Partners, a firm founded and run by software operators, currently investing its seventh fund and managing more than $1.5 billion of committed capital. In addition to leading new investments and serving on portfolio boards, he holds primary responsibility for Updata’s talent—the HR, hiring, and training processes that ensure Updata attracts and retains top talent aligned with its values and strategy. His contributions span the full investment lifecycle, from identifying acquisition targets to the exit process. His collaborative style and deep sector expertise have helped Updata build a portfolio of capital-efficient, growth-minded leaders.
Today, Jon works with Bigleaf, Improvado, LandTech, Netwrix, Portnox, Vector Remote Care, and Piano. His impact is evident in Updata’s track record, with thirteen exits since 2020.
Jon holds a BA in computer science and history from Duke University. He also holds an MBA from Harvard Business School.
“I am honored by this recognition, which reflects the work we do at Updata Partners. For over two decades, our mission has been to partner with ambitious software leaders, providing the capital, expertise, and guidance needed to scale. This acknowledgment underscores our disciplined investment approach and commitment to building category-defining companies that deliver long-term value to investors, portfolio companies, and their stakeholders.” — Jon Seeber
Firm: Haveli Investments
Title: Senior Managing Director, Executive Chair
Ian Loring is Senior Managing Director and Executive Chairman of Haveli Investments, an Austin-based private equity firm that invests in innovative technology companies, with a focus on both software and gaming. Under Ian’s leadership, Haveli closed its debut software fund at $4.5 billion, marking the largest debut flagship private equity fund ever raised as of March 2025.
A key leader on Haveli’s operating and software investment committees, Ian has leveraged his 35+ years of technology investment experience to help establish Haveli as a new—yet knowledgeable—firm with the goal of making value-creating investments for its LPs and smart operational decisions for its portfolio companies. Ian also plays a central role in recruiting top talent at Haveli and ensuring the firm’s culture is built upon a foundation of acting ethically, collaboratively, and transparently.
Recent noteworthy investments in the firm’s software strategy include Cendyn, AppViewX, Cohesity, Accommodations Plus International, and Couchbase.
Ian is a co-owner and board member of the Boston Celtics, chair of the board and assistant coach of the Boston Amateur Basketball Club (BABC), and a member of the executive board of Harlem Lacrosse. He received his BA from Trinity College and his MBA from Harvard Business School.
“Our team at Haveli leverages its sector-specific expertise and investing acumen to identify high-potential, middle-market enterprise software companies and provide them with the operational and strategic support to propel them to the next level. It has been a privilege to work with such a diverse and talented team and to collaborate with so many innovative companies, entrepreneurs, and management teams since Haveli’s founding in 2021.” — Ian Loring
Firm: One Peak
Title: Co-Founder and Managing Partner
David Klein is Co-Founder and Managing Partner of One Peak, a leading growth equity firm backing exceptional B2B software companies. With over 20 years of experience, David has built a reputation for identifying category-defining businesses early and partnering closely with founders to scale globally.
Since One Peak’s founding in 2014, David has overseen investments in 25 high-growth software companies across cloud infrastructure, cybersecurity, vertical and horizontal SaaS, data analytics, and AI-driven platforms. Notable portfolio companies include Akur8, Ardoq, Deepki, DocPlanner, Keepit, Neo4j, and PandaDoc. Known for his hands-on approach, David supports founders on strategy, product, go-to-market, and talent, helping companies rapidly scale and achieve market leadership.
Prior to founding One Peak, David held senior investment roles at Summit Partners and Morgan Stanley Principal Investments. He holds a master’s degree in economics and business administration from the University of St. Gallen, Switzerland.
“This recognition from GrowthCap is truly about the founders we support—their vision, resilience, and innovation in building transformative software and AI businesses. We’re proud to stand alongside them as they scale into global leaders.” — David Klein
Firm: One Peak
Title: Co-Founder and Managing Partner
Humbert de Liedekerke Beaufort is Co-Founder and Managing Partner at One Peak, a leading growth equity firm backing exceptional B2B software companies. With over 20 years of experience, Humbert has built a reputation for identifying category-defining businesses early and partnering closely with founders to scale globally.
Since One Peak’s founding in 2014, Humbert has overseen investments in 25 high-growth software companies across cloud infrastructure, cybersecurity, vertical and horizontal SaaS, data analytics, and AI-driven platforms. Notable portfolio companies include Akur8, Ardoq, Deepki, DocPlanner, Keepit, Neo4j, and PandaDoc. Known for his hands-on approach, Humbert supports founders on strategy, product, go-to-market, and talent, helping companies rapidly scale and achieve market leadership.
Prior to founding One Peak, Humbert held senior investment roles at Morgan Stanley Principal Investments and AnaCap Financial Partners. He holds a bachelor’s degree in industrial relations from the London School of Economics and a master’s degree in general management from Vlerick Leuven Gent Management School.
“We’re honored to be recognized by GrowthCap alongside so many talented investors. At the heart of our work is a deep belief in the power of software and AI to transform industries and improve lives, and we’re grateful to partner with visionary founders who make that impact possible.” — Humbert de Liedekerke Beaufort
Firm: Composition Capital
Title: Co-Founder and Managing Partner
Nishita Cummings is the Co-Founder and Managing Partner of Composition Capital, a newly formed growth capital investment firm. Composition Capital was founded in 2024 to leverage more than 17 years of experience and relationships that Nishita and her team have developed in the growth capital ecosystem. Through Composition, Nishita enables growth by creating a mosaic of resources, relationships, networks, and hands-on support to produce value greater than the sum of its parts. Prior to Composition Capital, Nishita was a Managing Partner and Co-Head of Kayne Anderson’s growth capital strategy, which she built to $1.3 billion in assets under management.
Nishita’s successful track record as an investor stems from her expertise in growth-stage businesses, fundamentals-based approach to investing, and hands-on support to drive value. She operates with a partnership-first mentality and develops deep relationships with management teams, the investor community, and strategic operators to advance her vision.
Nishita has overseen exits to Infor, Dell, Halliburton, AT&T/WarnerMedia, Accenture, TA Associates, IVP, Welsh, Carson, Anderson & Stowe, and Kleiner Perkins. Her most recent exit was a full realization in August 2025 for FreightVerify, a real-time visibility platform for complex supply chains.
Nishita graduated from the University of Pennsylvania, where she studied finance and biomedical studies.
“At Composition Capital, we remain steadfast in our commitment to supporting the most distinguished technology entrepreneurs. Through our flexible capital solutions, we ensure the alignment and balance essential for success in dynamic and evolving technology markets. We look forward to continuing to invest in and collaborate with the foremost innovators in the industry.” — Nishita Cummings
Firm: Composition Capital
Title: Co-Founder and Managing Partner
Leon Chen is the Co-Founder and Managing Partner of Composition Capital, a newly formed growth capital investment firm. Composition Capital was founded in 2024 to leverage more than 14 years of experience and relationships that Leon and his team have developed in the growth capital ecosystem. Through Composition, Leon enables growth by creating a mosaic of resources, relationships, networks, and hands-on support to produce value greater than the sum of its parts. Prior to Composition Capital, Leon was a Managing Partner of Kayne Anderson’s growth capital strategy, which he built to $1.3 billion in assets under management.
Leon’s successful track record as an investor stems from his expertise in growth-stage businesses, fundamentals-based approach to investing, and hands-on support to drive value. He operates with a partnership-first mentality and develops deep relationships with management teams, the investor community, and strategic operators to advance his vision.
Leon has overseen exits to Vista Equity, HGGC, BV Investment Partners, AT&T, Cisco, and Telus. Leon’s most recent exit was a partial realization in May 2025 for Fullscript, a leading healthcare platform offering providers and patients access to personalized and effective care.
Leon graduated from the University of Wisconsin–Madison with a BBA in finance.
“Launching Composition Capital has been one of the most meaningful chapters of my career. I’m excited to collaborate with the next generation of growth-stage technology companies and to further establish our strategy to remain the preferred partner for high-growth companies.” — Leon Chen
Firm: Bregal Sagemount
Title: Partner
Phil Yates is a Partner at Bregal Sagemount. Prior to joining Bregal Sagemount, Phil was with Great Hill Partners from 2003 to 2012, where he focused on growth investments in software and technology-enabled services across the healthcare, payments, business services, and consumer verticals. Before Great Hill Partners, Phil was at Carousel Capital, a middle-market private equity firm headquartered in Charlotte, NC, where he worked on transactions in franchising, healthcare, industrials, and communications. Phil started his career with Deutsche Banc Alex. Brown in the consumer and business services investment banking group.
Phil holds a BS in business administration with honors from the University of North Carolina at Chapel Hill.
“I’m honored to be included in GrowthCap’s Top Software Investors list this year. At Sagemount, we are grateful to the founders and management teams who entrust us as partners. This recognition is a reflection of their dedication and achievements.” — Phil Yates
Firm: Guidepost Growth Equity
Title: General Partner
Gene Nogi is a General Partner at Guidepost Growth Equity, where he leads the firm’s investing efforts in the infrastructure software and tech-enabled services sectors with a focus on financial technology, education technology, and government technology verticals. He currently sits on the Board of Directors of ClassWallet, Innovative Solutions, Intellum, Kaizen, and Shibumi. He formerly served on the board of ActiveViam (acquired by Nordic Capital), Network to Code, and Traction on Demand (acquired by Salesforce).
Previously, Gene was a General Partner with Symmetric Capital, a Boston-based growth equity firm. He began his investing career at Summit Partners, where he focused on software and tech-enabled services. Gene holds an MBA from Harvard Business School and received a BA in economics, cum laude, from Amherst College.
“Guidepost partners with capital-efficient, entrepreneur-led enterprise software and tech-enabled businesses growing organically and profitably with $10–$50 million of revenue. We develop trusted minority or slight majority partnerships from our thematic, partner-led outreach to management and drive value creation from significant strategic, financial, and operational assistance. The functional expertise of our Value Creation Group (“VCG”) is an accelerant at this stage of growth, where Guidepost’s relationships with executives in our core verticals provide crucial assistance across sales and marketing, product and engineering, GenAI, strategic HR, strategy, and operational finance to build to $100M+ of revenue scale.” — Gene Nogi
Firm: Guidepost Growth Equity
Title: General Partner
Chris Cavanagh joined Guidepost Growth Equity in 2015. At Guidepost, Chris focuses on investments in application software and data services. He currently sits on the Board of Directors at Atheneum, Atlas Technology Solutions, dscout, PetScreening, Tractive, and WP Engine, and formerly served on the Board of Directors at Lucid (acquired by Cint), Mineral (acquired by Mitratech), Spoonflower (acquired by Shutterfly), and Leapfrog (acquired by Dentsu). Prior to Guidepost, Chris was a Vice President at Great Hill Partners and an analyst in Citigroup’s consumer & retail investment banking group. Chris earned a BA in economics from the University of Notre Dame.
“Guidepost has specialized in partnering with growth-stage entrepreneur-led technology companies since our inception. From day one, we work closely with our management teams to build on their existing successes, enhance value together, and ultimately get further, faster.” — Chris Cavanagh
Firm: Catalyst Investors
Title: Managing Partner
Tyler Newton joined Catalyst in 2000 and has been a Partner since 2006. He leads portfolio investments and currently has a focus on vertical SaaS, HR tech, and sustainability. Tyler currently serves on the boards of Breezeway Homes, ChowNow, Procurement Sciences, Rivet Health, Weave Communications (NYSE: WEAV), and Ninety (as board observer). He previously served on numerous boards of Catalyst portfolio companies, including Ascentis, BrightFarms, Conductor, Datavail, EDB, and Mindbody, among others. He is a member of the firm’s Investment Committee and helps manage the firm.
Prior to joining Catalyst, Tyler worked in TMT leveraged finance at TD Securities.
Tyler received a BA from Middlebury College, cum laude, where he majored in economics. He is also a CFA charterholder.
“At Catalyst, our mission statement is ‘to earn superior returns by helping entrepreneurs build great growth companies.’ I feel privileged that I get to go to work every day and do just that…work with great people to add as much value as we can. That we invest in technology just makes it even more exciting and interesting. I’ve been at Catalyst for 25 years, but every day I learn something new.” — Tyler Newton
Firm: K1 Investment Management
Title: Partner
George Mansour is a Partner at K1 Investment Management, recognized for his ability to partner deeply with founders and management teams to transform software businesses into enduring category leaders. He works closely with executives on product strategy, monetization, and operational execution, helping companies scale with discipline while staying true to their vision. George is known for his passionate, hands-on approach—driving businesses to reach their strongest form while embodying K1’s values of passion, persistence, humility, and excellence.
In 2019, George partnered with Tim Turner, Founder and CEO of Subsplash, to help scale the company into a market leader. Under K1’s ownership, Subsplash organically grew ARR by approximately 7x, expanded its AI-powered engagement platform, and scaled to serve more than 20,000 faith-based organizations worldwide. In 2025, George helped lead Subsplash’s acquisition by Roper Technologies (NYSE: ROP), marking K1’s third sale to a publicly listed strategic buyer in the last year and its fifth strategic exit overall during that period.
“Partnering with founders like Tim Turner to scale mission-driven software companies is one of the most rewarding aspects of my work. At K1, we take pride in helping companies build the strength and durability to succeed for the long term.” — George Mansour
Firm: NewSpring Capital
Title: General Partner
Hart Callahan is a General Partner at NewSpring, focused on the firm’s dedicated growth equity strategy. Since joining NewSpring in 2014, he has advanced through the ranks from Analyst to Partner, leading and supporting investments in high-growth SaaS and enterprise software companies.
Over more than a decade at the firm, Hart has partnered with founders and management teams to accelerate revenue growth, refine go-to-market strategies, expand into new markets, and drive successful exits. He is recognized for identifying proprietary opportunities, structuring flexible growth solutions, and guiding companies through complex transactions. His work has contributed to the development of category-leading businesses across NewSpring’s portfolio.
Hart holds a BA in finance and an MBA from Bryant University.
“I am grateful to be recognized alongside other leaders in software investing. The most rewarding part of my work is collaborating with visionary founders and executive teams to build companies that are not only financially successful, but also transformative in their markets.” — Hart Callahan
Firm: Berkshire Partners
Title: Principal
John Nelson is a Principal at Berkshire Partners, where he has built deep experience in the software and technology sector through his role on the Technology & Communications team. Since first joining Berkshire as an Associate and later returning after business school, John has become a trusted leader on the investment team, known for his analytical rigor, strategic insight, and collaborative approach with portfolio companies.
John has played a key role in identifying, executing, and managing investments across a range of verticals, including education technology, IT management, and technology services. He is actively involved with Berkshire portfolio companies, including Curriculum Associates, Asurion, and PDQ. In these roles, John has supported strategic growth initiatives, product expansion, and acquisitions.
At Berkshire, John also contributes to the firm’s long-term sector strategies and is committed to mentoring junior professionals, helping reinforce the culture of teamwork and excellence that defines the firm. He earned his BA from the University of Virginia and his MBA from Harvard Business School.
“I’m grateful to be recognized by GrowthCap and included among such accomplished software investors. This honor reflects the collective efforts of my colleagues at Berkshire Partners and, most importantly, the incredible management teams we are privileged to partner with. From education technology to IT operations, I’ve seen firsthand how strong collaboration and a shared mission can drive real impact. I look forward to continuing to support innovative software companies as they scale, create value, and deliver meaningful solutions to their customers.” — John Nelson
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Copyright: GrowthCap’s Top Software Investors of 2025 publication is copyrighted material, produced and published by GrowthCap, LLC. For information pertaining to content permissions, please refer to GrowthCap’s award usage regulations.
Disclaimer: The data provided in this publication is for informational purposes only and should not be construed as investment advice, endorsement, nor recommendation. GrowthCap believes the information in this publication to be accurate but does not verify its accuracy independently and does not warrant or guarantee that it is accurate or complete. GrowthCap has no obligation to provide any updates or changes to the information. No investment decisions should be made using this information.
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