K1 Investment Management Seeks $6.25 Billion for Sixth Flagship Fund

K1 Investment Management, a leading investment firm focused on high-growth enterprise software companies, is seeking at least $6.25 billion for its sixth flagship fund. This comes after the firm closed its fifth fund at $2.1 billion in 2018. The new fund will continue to invest in enterprise software companies, particularly in the areas of security, compliance, and data management.

K1 Investment Management has a portfolio of more than 20 companies, and it recently exited one of them with the sale of work management-software firm Smartsheet for $2.5 billion. The firm also sold management software supplier TeamDynamix Solutions LLC back to previous owners earlier this year.

The firm has backed several Portland-based startups, including RFPIO and Smarsh, and is still looking for more to invest in. K1 Investment Management and Vista Equity Partners also recently sold Portland-based electronic discovery software provider Zapproved.

K1 Investment Management has been assembling recruiting software startups under its parent brand, which is now called "Jobvite." The firm acquired three recruiting software companies in 2019 and merged them into one entity.

In other industry news, Elmo Software, an Australian human resources software company, has signed a takeover at $4.85 a share, valuing the company at close to $500 million. And Avant Brands Inc., a leading producer of premium handcrafted spirits, has announced plans to expand its distribution network in Canada and the United States.

Overall, K1 Investment Management's focus on high-growth enterprise software companies has proven successful, as evidenced by the recent sale of Smartsheet. The firm's sixth flagship fund has the potential to attract significant interest from investors looking to capitalize on the growth of the software industry.