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Bow River Capital Completes Altvia Recapitalization

Bow River Capital Software Growth Equity team announced that is has completed a majority recapitalization of Altvia with Marlin Equity Partners, a global investment firm with over $8.1 billion of capital commitments under management. Bow River will retain a minority equity stake in Altvia. Terms of the transaction were not disclosed.

Altvia is a proven provider of cloud-based CRM, deal management, and investor lifecycle management software purpose built for private capital markets firms. The Altvia platform more efficiently and cost-effectively manages the GP and LP experience, compliance requirements, and reporting.

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Bow River Capital’s Software Growth Equity team took majority ownership of Altvia in May 2020 and, working in partnership with veteran SaaS executives Brie Aletto, Ben Hendershot, Jeff Williams, Kjael Skaalerud, and company founder Kevin Kelly, implemented its performance playbook during the course of the last two years. Together, the team organically doubled Altvia’s annualized revenue run rate, and invested heavily in research and development to rapidly expand Altvia’s product portfolio.

“The business has experienced radical transformation and this transaction shows the potential behind the Software Growth Equity Fund’s performance playbook and value creation strategies in seeking to build another market winner,” stated John Raeder, Managing Director and Head of Software Investments for Bow River Capital. He further said, “We are thrilled to close the recapitalization of Altvia, and are looking forward to working with Marlin Equity Partners, Brie Aletto and this exceptional team as we continue to seek further growth and scale for the company.”

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“This is another example of our deep operational expertise focused on supporting exceptional management, installing operational enhancements and quality metrics-based reporting, and rapidly executing to our investment thesis and strategies,” stated Maitlan Cramer, Director at Bow River Capital. He further states, “We look forward to partnering with Marlin on this next chapter of growth as we continue to build a market winner together.”

The recapitalization marks another inflection point for Altvia as the company looks to continue its growth and further product innovation initiatives.

“Participants in the private capital markets are rapidly adopting new technologies to drive improvements and efficiencies, as they navigate increasing demands from regulatory bodies, ESG impacts and expanding partnerships with Limited Partners,” said Nick Lukens, Managing Director at Marlin. “We look forward to providing our operational expertise and financial support to further advance Altvia’s position in the market, accelerate technological innovation and enhance its existing product capabilities for the current and future customer base.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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