Motive Partners & Clearlake Capital Invest in Growth of Next Generation SaaS Wealth Solutions Platform with InvestCloud

Motive Partners _ Clearlake Capital Invest in Growth of Next Generation SaaS Wealth Solutions Platform with InvestCloud

Motive Partners (“Motive”), a private equity firm specializing in growth and buyout investments in financial services software companies, and Clearlake Capital Group, LP (“Clearlake”), an industry investor who partners with world-class management teams in providing patient and long-term capital to dynamic companies, today announced that they have acquired InvestCloud , a modular enterprise-grade digital wealth and investment management software platform. Motive Partners, Clearlakeand funds advised by Motive Partners have reached a definitive agreement to acquire 80% of InvestCloud from early stage investors, and simultaneously combined InvestCloud with existing Motive Partners portfolio companies, Finantix and Tegra118, to create the next generation of Software-as-a-Service (“SaaS”) global wealth solutions platform led by InvestCloud CEO John Wise . The strategy and vision is shared by a group of esteemed co-investors, made up of some of the world’s largest financial institutions, including Accenture, Citi Ventures and Fiserv.

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The wealth management industry is showing constant growth and investment from new and established vendors, providing disruptive technology companies with the opportunity to digitize the industry and capture market share along the value chain. value. Today, software solutions are often legacy and tailor-made, with many point solutions fragmented by region, process and category. However, industry trends include the need to serve global clients consistently, to digitize interactions between advisors and clients, to create efficiency in front-to-back office processes, and to deliver integrated solutions that can cover all segments of wealth,

InvestCloud’s platform has been chosen by many of the world’s leading financial institutions, private banks and insurers as their platform for global digital wealth. Motive and Clearlake , working with InvestCloud, identified that Tegra118 would be a suitable complement as a basis for future product innovations, and that Finantix would be the ideal partner for private banking capabilities. In addition, Finantix’s focus on private banking in Europeand Asia provides a solid basis for the international expansion of InvestCloud. The combined company has more than 500 direct clients, including more than 380 asset managers (distributors): 7 of the top 10 brokers in the United States) and more than 120 asset managers (manufacturers: 9 of the top 12 in the United States ), along with hundreds of other indirect clients who manage more than $ 4 trillion in assets worldwide using the platform. The combined business, which will operate as InvestCloud, benefits from a top-notch customer base, superior modern technology and significant enabling factors in the industry.

“We are delighted to be able to combine the strengths of Tegra118, the leading managed account platform in the United States, and the expertise of Finantix Private Banking with the leading digital wealth management platform of InvestCloud,” said John Wise , CEO of InvestCloud. “This timing represents a unique opportunity to work with our fellow entrepreneur Rob Heyvaert , the extended team of Motive Partners and Clearlake to seize the opportunity to transform the industry. ”

Rob Heyvaert , President of InvestCloud and Founder and Managing Partner of Motive Partners, commented: “The research we have conducted in recent years on macro and regional trends in technological wealth has led us to acquire Finantix, Tegra118 and, and finally to John and the InvestCloud team. Today marks both our collective intention and an important opportunity for the industry, as the newly formed InvestCloud Group unveils its combined vision for clients across multiple regions and financial services sub-sectors. Together with John , Christine, Cheryl and our team of experts, we look forward to taking advantage of the industry’s unique timing for our clients. ”

“InvestCloud has established a leading and differentiated position in the field of wealth management software through a cloud-native, pure player platform that meets the unique needs of global financial institutions and their clients,” said Behdad Eghbali , co-founder and managing partner, and James Pade , partner at Clearlake . “We are excited about our partnership with John, Motive Partners and the InvestCloud team as the company, in association with Finantix and Tegra118, continues to provide best-in-class solutions to its global customer base. ”

As part of the transaction, Rob Heyvaert (Founder and Managing Partner, Motive Partners) will become Chairman, John Wise will be Group CEO and lead the combined business, Cheryl Nash (CEO, Tegra118) and Christine Ciriani (CEO, Finantix) will depend on Mr. Wise.

In addition, James Pade (Partner and Managing Director, Clearlake ), Vikram Abraham (Vice President, Clearlake ), James Cox (Executive Vice President of Corporate Development, Fiserv), Scott Kauffman (Founding Partner, Motive Partners) , Richard Lumb (industrial partner, Motive Partners) and Doug Smith (industrial partner, Motive Partners) will join the Board of Directors of InvestCloud to support the growth of the company.

Cheryl Nash , CEO of Tegra118, said: “The InvestCloud platform is without doubt the most advanced digital solution in the heritage industry. The combination of InvestCloud with our network of asset and wealth managers will bring substantial and unprecedented added value to our clients and to the market. ”

Christine Ciriani , CEO of Finantix, said: “With the democratization of heritage and the digitization of consulting, there is no better time to offer the market an integrated front-office and middle-office platform providing feature-rich digital assets for the global wealth management and insurance industries. Combining the strength of Finantix in Europe and Asia in the private banking arena with the SaaS platform from InvestCloud, market leader in North America, and Tegra118 is an exciting prospect for our clients and employees. “

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