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Venture Capital
baypartners.com

Investments

328

Portfolio Exits

89

Funds

14

About Bay Partners

Bay Partners, a Silicon Valley-based early stage venture capital firm focusing on software, consumer Internet, semiconductor and wireless investments, has been building successful technology companies since 1976, funding more than 350 startups. Bay leverages the operating backgrounds of its partners and its extensive network of executives and advisors to help outstanding entrepreneurs create the leaders in new, high-growth market segments. Notable successes from Bay's portfolio include Brocade, Concord Communications, Exodus, Sonicwall, Placeware, Informatica, Web Logic, Digital Island and NetScaler. Bay is currently investing its eleventh venture fund and has over $1 billion under management.

Headquarters Location

490 S. California Avenue Suite 200

Palo Alto, California, 94306,

United States

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CB Insights Intelligence Analysts have mentioned Bay Partners in 1 CB Insights research brief, most recently on Oct 17, 2022.

Latest Bay Partners News

ZRG Raises New Growth Capital

Dec 16, 2022

December 15, 2022 NEW YORK and ROCHELLE PARK, N.J., Dec. 15, 2022 (GLOBE NEWSWIRE) —  ZRG , a global talent advisory firm and portfolio company of RFE Investment Partners, today announced that it has secured a new secondary equity investment from a consortium of new and existing institutional investors led by Timber Bay Partners. ZRG currently is a market leader in the global executive recruiting marketplace, and also provides interim/on demand talent solutions, human capital consulting services, and recruitment process outsourcing (“RPO”). This new capital will accelerate ZRG’s acquisition and hiring efforts as the company continues to build-out a full suite of offerings to help clients solve people problems. In line with this strategic fundraising, ZRG announced on December 6 that is acquired Hub Recruiting, a Tech Enabled RPO provider to address volume hiring needs globally. The new equity round included increased support from existing investors as well as a number of new institutions. RFE will manage the new equity consortium and will maintain a control equity position. Concurrent with the new equity investment in the Company, ZRG also announced the closing of a new and expanded senior credit facility led by Truist Bank. Proceeds will be used to refinance existing debt and provide additional capital for future growth. “We see tremendous opportunity to acquire great businesses in the recruiting and talent advisory areas that will augment our organic growth across all of our business lines. The new equity capital and expanded credit facility provide ample dry powder for our organic and acquisition growth plans,” said Larry Hartmann, CEO of ZRG. “Additionally, we will continue to invest in our disruptive Zi technology platform and grow our interim and consulting businesses in tandem with our core executive recruiting deliverables.” Michael Rubel, Managing Director at RFE, commented: “ZRG has an exceptional track record of supporting and growing acquired companies that have all thrived under ZRG’s resources and unique culture. This new capital accelerates our strategy of partnering with great new human capital people and brands.” Atlantic-Pacific Capital served as exclusive global financial advisor and placement agent. Truist Bank served as the sole lead arranger for the new credit facility. Specific financial terms are not disclosed. About ZRG: ZRG  is a global talent advisory firm that is changing the way companies hire and manage talent. ZRG’s data-driven approach to executive and professional search has been changing the way clients think about how to find top talent. The company’s digital  Zi platform  combines talent intelligence, candidate insights, and process improvement to dramatically deliver executive searches quicker and with proven better results. About RFE Investment Partners: RFE Investment Partners  is a private equity firm focused on making control investments in established small market companies located in the United States. RFE is a long-standing firm founded in 1980 with over 40 years of experience investing in the lower middle market. RFE’s investment strategy is to transform its portfolio companies from the lower end of the market to fully professionalized and market-leading middle-market companies. RFE is currently investing out of Fund IX. For more information, visit  www.rfeip.com . About Timber Bay Partners: Timber Bay Partners  is an independent private equity firm focused on General Partner-led secondary transactions. Founded in 2016 and headquartered in Cincinnati, OH, the firm’s investment professionals have worked with general partners for more than a decade to structure unique and creative solutions to liquidity issues faced by mature private equity funds. About Truist: Truist Financial Corporation  is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country, and offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $544 billion as of March 31, 2022. Truist Bank, Member FDIC. Learn more at  Truist.com . About Atlantic Pacific: Atlantic-Pacific Capital  is the largest independently owned global placement agent and advisory firm dedicated to raising capital for alternative investments. Since its founding in 1995, Atlantic-Pacific has organically grown into a global organization with an established brand in the private equity community. Over the last two decades, the firm has executed on over 110 capital raising assignments aggregating over $75 billion for an extraordinary group of alternative asset managers.

Bay Partners Investments

328 Investments

Bay Partners has made 328 investments. Their latest investment was in Coconut Software as part of their Series B on October 10, 2021.

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Bay Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/5/2021

Series B

Coconut Software

$22.2M

No

2

11/27/2019

Series A - II

Coconut Software

$4.89M

No

1

11/7/2017

Series A

Coconut Software

$3.28M

Yes

4

2/4/2016

Series C

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$99M

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10

5/19/2015

Series G

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$99M

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10

Date

10/5/2021

11/27/2019

11/7/2017

2/4/2016

5/19/2015

Round

Series B

Series A - II

Series A

Series C

Series G

Company

Coconut Software

Coconut Software

Coconut Software

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Amount

$22.2M

$4.89M

$3.28M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Sources

2

1

4

10

10

Bay Partners Portfolio Exits

89 Portfolio Exits

Bay Partners has 89 portfolio exits. Their latest portfolio exit was AdStage on April 22, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/22/2020

Acquired

$99M

6

1/7/2020

Acquired

$99M

1

11/18/2019

Acq - Fin

$99M

1

7/22/2019

IPO

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$99M

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10

2/13/2018

Merger

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$99M

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10

Date

4/22/2020

1/7/2020

11/18/2019

7/22/2019

2/13/2018

Exit

Acquired

Acquired

Acq - Fin

IPO

Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

6

1

1

10

10

Bay Partners Fund History

14 Fund Histories

Bay Partners has 14 funds, including AppFactory.

Closing Date

Fund

Fund Type

Status

Amount

Sources

9/4/2007

AppFactory

Early-Stage Venture Capital

Closed

$300M

1

10/30/2005

Bay Partners XI LP

Early-Stage Venture Capital

Closed

$285M

1

11/23/2000

Bay Partners X LP

Early-Stage Venture Capital

Closed

$385M

1

11/23/2000

Bay Partners X Entrpreneurs Fund LP

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$99M

10

12/31/1999

Bay III LP

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$99M

10

Closing Date

9/4/2007

10/30/2005

11/23/2000

11/23/2000

12/31/1999

Fund

AppFactory

Bay Partners XI LP

Bay Partners X LP

Bay Partners X Entrpreneurs Fund LP

Bay III LP

Fund Type

Early-Stage Venture Capital

Early-Stage Venture Capital

Early-Stage Venture Capital

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Status

Closed

Closed

Closed

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Amount

$300M

$285M

$385M

$99M

$99M

Sources

1

1

1

10

10

Bay Partners Team

16 Team Members

Bay Partners has 16 team members, including current Chief Financial Officer, Maria Ruiz.

Name

Work History

Title

Status

Maria Ruiz

Institutional Venture Partners

Chief Financial Officer

Current

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Name

Maria Ruiz

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Work History

Institutional Venture Partners

Title

Chief Financial Officer

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Status

Current

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