K1 Investment Management Exits Portfolio Company with Sale of Work Management-Software Firm

K1 Investment Management exited one of its more than 20 portfolio companies last month with the sale of work management-software firm. K1 is a global Investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth, market leading software companies to help them accelerate growth. Thomas Rice, portfolio manager at the Perpetual Global Share Fund, recently announced US-based K1 Investment Management's $486 million takeover bid for a work management-software firm.

The firm has made significant Investment in the work management-software sector, investing in the right people, technology, and solutions to drive its success. In June 2021, Eltropy announced a $21 million venture round led by K1 Investment Management of Manhattan Beach, California. It is understood the human resources and payroll software group has agreed to terms with California based K1 Investment Management, with the Investment firm providing the capital necessary to expand the company's reach and capabilities.

In December 2022, K1 Investment Management announced its acquisition of BigCommerce, a leading ecommerce platform. The company was founded in 2009 and is now one of the largest ecommerce solution providers in the world. K1 Investment Management’s Investment in BigCommerce further strengthens its footprint in the ecommerce sector.

K1 Investment Management has made several Investment in the software sector. In 2019, the firm invested $48.39 million in Lightrock, Riverwood Capital and SoftBank Latin America Fund. The Investment was used to help the company expand its services and expand into new markets.

In 2020, K1 Investment Management made a growth Investment of over £262 million in FJ Labs, a venture-backed software platform. The Investment was used to help the company grow its presence in the software sector and expand its services.

K1 Investment Management also invested in Valor Capital Group, a venture-backed software platform, in December 2021. The Investment was used to help the company further expand its services and reach new markets.

The firm also announced the promotions of Sean to Managing Partner and Head of Software Platforms in March 2021. Sean has been with K1 Investment Management since its inception and has been instrumental in the company’s success. With Sean’s leadership and outside-in thinking, the firm has been able to make Investment in the software sector that have been a tremendous asset to BigCommerce.