Beaumont joins Volery Capital, Vista Equity’s Arnold is tapped to co-head the firm’s Endeavor Fund and other notable moves from the week
From our Women's PE Briefs - week commencing March 29, 2021
Vista Equity Partners’ Arnold is tapped to co-head the firm’s Endeavor Fund
Vista Equity Partners’ Rachel Arnold is tapped to co-head the firm’s Endeavor Fund alongside current co-head René Stewart and tells Women’s PE Briefs that “given female representation in private equity, it’s incredibly powerful that the Endeavor Fund is now one of the largest technology buyout funds in the world managed exclusively by women.” Rachel, who has been with Vista for more than 18 years, was appointed senior managing director. She has worked with more than 20 firm portfolio companies and currently sits on the boards of Dispatch, Kazoo, RadarFirst, Tripleseat and Zapproved, which was founded by Monica Enand. Rachel was also involved in the firm’s investments in AGDATA, Autotask, BigMachines, Bullhorn, Kibo, Lanyon, Lone Wolf, Naviga, PeopleAdmin, Relias Learning, SecureLink and Social Solutions.
Rachel said the “significance” of her and René leading the fund “is the opportunity for influence that it provides – and our ability to offer our diversity of experience to investing, operating and developing talent to create the best-run enterprise software companies in the world.” Rachel added that “this new challenge provides me the opportunity to expand my leadership while continuing to work with our incredible team of investment professionals and former operators, all who share our passion for enabling market-leading companies to power through their next stage of growth.”
In a statement, René said “it is a privilege to now partner with her to co-lead one of the world’s largest tech buyout funds led exclusively by women. Her strong leadership, proven ability to build and inspire teams and strategic operating expertise will be powerful tools as fund co-head.”
The Endeavor Fund focuses on mission-critical, high-growth enterprise software, data and technology-enabled businesses with $10 million to $30 million in annual recurring revenue. The Fund’s second vehicle Endeavor Fund II raised over $1 billion in capital commitments in 2019. Rachel said the fund will seek to partner with several new companies as well as doing add-on transactions that support existing portfolio companies.
René recently brought the fund into iN2L, a provider of content-driven engagement solutions for seniors whose CEO is Lisa Taylor. René sits on the boards of Dispatch, KAZOO, RadarFirst, and Zapproved. She joined Vista in 2007 from Yahoo.
Vista, a global investment firm, has more than $73 billion in assets under management as of Sept. 30. The firm is a sponsor of the Women’s Private Equity Summit.
Arnold promoted to managing director at The Sterling Group
A year after re-joining The Sterling Group, Erin Arnold has received a promotion. Erin is now a managing director with the Houston private equity firm. She is on the board of firm portfolio company Bad Boy Mowers. Erin first worked at Sterling in 2013 and 2014 before joining Boston Consulting Group and then Madison Dearborn.
Sterling’s team also includes managing directors Franny Jones and Jenny Harris, who joined last year as well.
In 2020, Sterling closed its fifth fund at $2 billion. The firm, which was founded in 1982, has more than $4 billion of assets under management. Sterling focuses on targeting corporate carve-outs and family businesses in the industrial sector of the middle market. The firm focuses on companies with enterprise value of between $100 million and $750 million.
Beaumont joins Volery Capital Partners as a senior advisor
Industry veteran Renée Beaumont joins an impact investing private equity firm. Renée is now a senior advisor with Volery Capital Partners – one of three that the firm has. Volery uses its advisory board as a sounding board on strategic issues, from corporate strategy to impact considerations, product development and market insights.
Renée was most recently a partner with Generation Investment Management. Her background also includes serving as managing director and global head of business development at Providence Equity Partners and being a managing director in Goldman Sachs’ merchant banking division. Renée also serves as a senior advisor to Blue Haven Initiative, Firework Ventures and ReGen Ventures.
Based in Greenwich, Conn., Volery is focused on growth investments in the financial services industry that benefit people and the planet. Volery’s team includes Ellen Carey Maginnis, partner, head of impact.
Anthemis adds Lim and establishes advisory board that includes Friar, Thomas-Graham and Morrissey
Anthemis, a venture investment firm founded and led by Amy Nauiokas, adds Mei Lim to its leadership team and establishes a strategic advisory board that includes Sarah Friar, CEO of Nextdoor; Pamela Thomas-Graham, former executive director of Credit Suisse; and Helena Morrissey, DBE, founder of the 30 percent club.
Mei joined the New York firm as chief financial officer and head of corporate development. She most recently served as managing director in finance and business banking at Barclays.
The strategic advisory board will collaborate with Anthemis’ leadership team on its growth plans for the next decade and extend their connectivity within financial services and adjacent markets. The board also includes Bruce Aust, former Nasdaq vice chairman.
In announcing the appointments, Amy said, “our vision at Anthemis is to transform the financial system and the way the world interacts with it. To do that requires a diversity of thought, experience, and leadership, which this impressive group brings to our second decade in business.” She added that “the addition of these new leaders and advisors to our orbit will only help to accelerate Anthemis’ mission to bring about meaningful change in the financial system.”
HGGC brings aboard Ike and Jahan and promotes Mirza and Reynolds
HGGC brings aboard Anna Ike and Naznin Jahan and promotes Fariha Mirza and Holland Reynolds.
Anna rejoined the middle-market private equity firm as a vice president. Prior to earning her MBA at Harvard Business School, Anna was a senior associate with HGGC where she was involved with firm portfolio companies AMI, HelpSystems and FPX.
Naznin joins the Palo Alto, Calif.-based firm as an investor relations associate. She previously was part of the investor relations and fundraising group at GoldPoint Partners.
Fariha, who joined HGGC in 2014, was promoted to vice president of finance, while Holland is now a senior associate in business development. She joined HGGC in 2019.
HGGC has more than $5.4 billion in capital commitments and had made more than 200 investments since inception in 2007.
Shick named managing director and CFO at Z Capital Group
Z Capital Group taps Annie Shick for a key role. The private markets asset manager appointed Annie managing director and chief financial officer. In that role, she is responsible for all aspects of accounting, treasury and financial reporting.
Annie joins ZCG from Riverstone Holdings, LLC where she was director in fund accounting. She previously held roles with JP Morgan, General Motors Asset Management, LP Power Equity Advisors/Edge Principal Advisors and KPMG.
ZGC has $3.2 billion of assets across complementary private equity and credit businesses.
Savacool has joined HeathQuest Capital’s board of advisors
Former Aon Hewitt CEO Kristi Savacool has joined HeathQuest Capital’s board of advisors, which also includes Dr. Regina Benjamin, a former U.S. Surgeon General, and Susan Arnold, former president of Procter & Gamble. In this role, Kristi will work with the Belmont, Calif. growth capital firm to identify, develop and grow companies with the potential to improve the health care industry.
As CEO of Aon Hewitt, Kristi was responsible for setting the firm’s strategy, sponsoring relationships with its largest clients and overseeing its operations. She retired from that role in 2018. Aon Hewitt is Aon plc’s global human resources solutions business.
Founded in 2012, HealthQuest has more than $850 million in capital under management.
EQT Ventures promotes Yao and brings aboard Raimondi
EQT Ventures has promoted Laura Yao and brought aboard Anne Raimondi. Laura is now a partner while Anne is an operating partner.
Laura joined the firm in 2018. She is on the boards of Netlify and Darkstore and has backed Standard Cognition. Laura’s background includes roles with Kairos Aerospace, Angel Island Partners, Bridgewater and The PhenomList.
Anne was previously senior vice president of operations at Zendesk.
EQT Ventures has more than 1.2 billion euros under management and has offices in Stockholm, London, Berlin, Paris, Amsterdam, Luxembourg and San Francisco. Its team also includes partners Rania Belkahia and Ashley Lundström.