– Haveli Investments, based in Austin, Texas, was founded in 2021 by Brian Sheth, co-founder of Vista Equity Partners and a top software and digital technology dealmaker.
– Sheth resigned as President of Vista in November 2020.
– Haveli closed its inaugural fund, Haveli Investments Software Fund I, at its $4.5 billion hard cap in March, according to sources cited by the Wall Street Journal.
– The fund focuses on enterprise software companies, making both minority and control investments, as well as structured equity and debt offerings.
– Investment targets include:
▪️Vertical and horizontal enterprise software applications
▪️Infrastructure software
▪️Cybersecurity services
▪️Adjacent tech subsectors like data and gaming
– In 2022, Apollo Global Management, Inc. committed $500 million to Haveli’s strategy and provided resources to support its growth.
– Notable acquisitions under the fund include:
▪️Couchbase (AI-driven database company), acquired in June via a take-private, all-cash deal valued at $1.5 billion
▪️AppViewX, a cybersecurity risk management platform
▪️ZeroFox Holdings, a provider of external cybersecurity solutions
▪️Accommodations Plus International, a travel accommodation software provider
– Haveli also closed a venture capital fund, Haveli VC Gaming Fund I, with $833.8 million dedicated to the gaming industry.
– The firm is led by seasoned professionals with deep experience in technology investing and operations: Alex C., Ira Cohen, Ian Loring, Ophir Lupu, Sumit Pande, Jason Ream, Sandeep Swaminathan, Della Richardson, Lisa Lutton, SHRM-SCP, Jason Mathews, Chuck Mills, Marissa Tarleton, Nora Cappellini, Lucas Joppa.
– With its debut fund and diversified strategy, Haveli is positioned as a significant new player in the tech-focused private equity landscape.
