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Piper Sandler company logo
Investment Bank
FINANCE | Investment Banking
pipersandler.com

Investments

58

Portfolio Exits

26

Funds

2

Partners & Customers

9

About Piper Sandler

Piper Sandler (NYSE: PIPR) is an international middle-market investment bank and institutional securities firm, serving the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors. The company was founded in 1985 an di based in Minneapolis, Minnesota.

Headquarters Location

800 Nicollet Mall Suite 800

Minneapolis, Minnesota, 55402,

United States

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Latest Piper Sandler News

Piper Sandler upgrades US Foods Holding to Overweight

Feb 20, 2024

Michael Vi/iStock Editorial via Getty Images Piper Sandler upgraded food distributor US Foods Holding (NYSE: USFD ) from Neutral to Overweight, with a price target of $59. UBS upgraded the stock to Buy, noting it was "becoming more bullish on USFD based on several factors." The brokerage's factors include the company increasing its market share, belief that USFD's EBITDA growth trajectory is sustainable, and a more favorable industry backdrop for FY'24. "We see a relatively clear path for the stock to hit the “high $50’s / low $60’s” levels over the course of the next ~12 months, with our formal PT of $59 representing ~19% upside from here," said Piper Sandler. For Piper Sandler, the primary risk for USFD could be a worsening of the broader U.S. macro environment, which could lead to a slowdown in restaurant industry traffic, negatively impacting food distribution industry case volumes. U.S. Foods Holding ( USFD ) reported fourth-quarter revenue above expectations on Thursday, boosted by an increase in orders.

Piper Sandler Investments

58 Investments

Piper Sandler has made 58 investments. Their latest investment was in Bicara Therapeutics as part of their Series C on December 12, 2023.

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Piper Sandler Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/12/2023

Series C

Bicara Therapeutics

$165M

No

5

9/25/2023

Series C - II

Graylog

$9M

No

4

3/6/2023

Series B

Bicara Therapeutics

$108M

Yes

5

3/1/2023

Series A

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$99M

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10

2/15/2023

Series C

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$99M

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10

Date

12/12/2023

9/25/2023

3/6/2023

3/1/2023

2/15/2023

Round

Series C

Series C - II

Series B

Series A

Series C

Company

Bicara Therapeutics

Graylog

Bicara Therapeutics

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Amount

$165M

$9M

$108M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Sources

5

4

5

10

10

Piper Sandler Portfolio Exits

26 Portfolio Exits

Piper Sandler has 26 portfolio exits. Their latest portfolio exit was CARGO Therapeutics on November 10, 2023.

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

11/10/2023

IPO

$99M

Public

3

2/3/2023

IPO

$99M

Public

23

10/26/2022

Acquired

$99M

4

10/15/2021

IPO

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$99M

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10

5/18/2021

IPO

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$99M

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10

Date

11/10/2023

2/3/2023

10/26/2022

10/15/2021

5/18/2021

Exit

IPO

IPO

Acquired

IPO

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Public

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Sources

3

23

4

10

10

Piper Sandler Acquisitions

13 Acquisitions

Piper Sandler acquired 13 companies. Their latest acquisition was DBO Partners on July 06, 2022.

Date

Investment Stage

Companies

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

Total Funding

Note

Sources

7/6/2022

$99M

Acquired

1

1/5/2022

$99M

Acquired

3

10/14/2021

$99M

Acquired

1

12/9/2020

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$99M

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10

2/21/2020

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$99M

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10

Date

7/6/2022

1/5/2022

10/14/2021

12/9/2020

2/21/2020

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acquired

Acquired

Acquired

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Sources

1

3

1

10

10

Piper Sandler Fund History

2 Fund Histories

Piper Sandler has 2 funds, including Piper Heartland Healthcare Crossover Fund I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/2/2022

Piper Heartland Healthcare Crossover Fund I

$200M

1

10/10/2018

Piper Jaffray Merchant Banking Fund II

$99M

10

Closing Date

3/2/2022

10/10/2018

Fund

Piper Heartland Healthcare Crossover Fund I

Piper Jaffray Merchant Banking Fund II

Fund Type

Status

Amount

$200M

$99M

Sources

1

10

Piper Sandler Partners & Customers

9 Partners and customers

Piper Sandler has 9 strategic partners and customers. Piper Sandler recently partnered with Kirkland & Ellis, and LM Energy Partners on September 9, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

9/26/2023

Client, and Vendor

United States

1

6/26/2023

Client

United States

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10

1/17/2023

Partner

United States

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10

4/6/2021

Client

Italy

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10

5/16/2019

Vendor

United States

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10

Date

9/26/2023

6/26/2023

1/17/2023

4/6/2021

5/16/2019

Type

Client, and Vendor

Client

Partner

Client

Vendor

Business Partner

Country

United States

United States

United States

Italy

United States

News Snippet

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Sources

1

10

10

10

10

Piper Sandler Team

46 Team Members

Piper Sandler has 46 team members, including current Managing Director, Jeffrey Fivecoat.

Name

Work History

Title

Status

Jeffrey Fivecoat

Baird, RED Capital Group, and OhioHealth

Managing Director

Current

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Name

Jeffrey Fivecoat

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Work History

Baird, RED Capital Group, and OhioHealth

Title

Managing Director

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Status

Current

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