Luminate Capital Partners’ Hollie Haynes

From our Women's PE Briefs - week commencing May 31, 2021

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Just four years after closing its debut fund at $265 million, Luminate Capital Partners raises nearly five times as much for its third fund – a fund that firm founder Hollie Haynes tells Women’s PE Briefs will be invested in an opportunity that “remains significant.” The San Francisco private equity firm closed the fund at $1 billion, blowing past its $700 million target and the $425 million it raised for its second fund in 2018. Luminate, which Hollie founded in 2015, now has $1.7 billion under management.

“Our investment results since we started in 2015 have been very strong, putting us in the fortunate position of having the privilege to manage more and more investor capital over time,” said Hollie. “We will continue to focus on revenue growth and product strategy at every company.” Luminate focuses on enterprise software companies, having now invested in 13 of them. “Luminate has focused on making money for our investors by doing software buyouts which drive organic revenue growth and product strategy, not cost cuts,” Hollie said. “This market opportunity remains significant given the amazing array of growth-oriented SaaS companies that has emerged over the last decade.”

Earlier this year, Luminate made its first investment with the new fund, acquiring a majority stake in Axonify, a provider of employee training software, whose co-founder and CEO is Carol Leaman.

Over the past year, Luminate generated five liquidity events, including the recapitalization of Oversight Systems by TCV; the recapitalization of StarCompliance, whose CEO is Jennifer Sun, by Marlin Equity; the recapitalization of Conexiom with ICONIQ Capital; the sale of Comply365 to Liberty Hall Capital; and the sale of AMTdirect to MRI Software.

All told, the firm has had full or partial exits at nine of the 12 companies in its first two funds. Luminate’s investments have also included AutoQuotes, Financial Information Technologies, LLC, LiquidFrameworks, MSI Data, PDI, Quantivate and Thought Industries.

Hollie has spoken at the Women’s Alternative Investment Summit, the Women’s Private Equity Summit and the Leadership Unbound Summit.

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