Where we invest
Mission-critical software for banking and financial services.
We acquire and permanently hold companies across six focus areas of banking and financial services software.
Core & digital banking
Core banking platforms, digital banking channels and account-opening tools that banks and credit unions run their institutions on. We look for deeply embedded systems with long customer relationships, where switching costs are high and the product is part of the institution's daily operations.
Typical profile: recurring revenue, sticky customers, a team that knows its market. Size is flexible.
Payments & networks
Payment processing, rails, clearing, and network connectivity across cards, ACH and realtime payments. We look for infrastructure that institutions depend on every day: platforms where volume is recurring, integrations are deep and reliability is non-negotiable.
Typical profile: recurring revenue, sticky customers, a team that knows its market. Size is flexible.
Lending & credit
Origination, servicing, decisioning and credit analytics for commercial and consumer lending. We look for workflow-critical tools embedded in the lending lifecycle, with defensible data, regulatory depth and customers who renew year after year.
Typical profile: recurring revenue, sticky customers, a team that knows its market. Size is flexible.
Debt collection & recovery
Collections management, skip-tracing, payment arrangements and recovery workflows for consumer and commercial debt. We look for workflow-critical platforms embedded in the recovery lifecycle, with defensible data, regulatory depth and customers who renew year after year.
Typical profile: recurring revenue, sticky customers, a team that knows its market. Size is flexible.
Risk & compliance
Regtech, AML, fraud, reporting and supervisory tools that keep institutions audit-ready. We look for products with regulatory moats, software whose value grows as rules change and whose customers cannot afford to operate without it.
Typical profile: recurring revenue, sticky customers, a team that knows its market. Size is flexible.
Financial operations & analytics
General ledger, reporting, content management and performance analytics that run the back office. We look for mission-critical operational software with recurring revenue, long tenures and a team that knows its market inside out.
Typical profile: recurring revenue, sticky customers, a team that knows its market. Size is flexible.