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Venture Capital
tvccapital.com

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Investments

50

Portfolio Exits

15

Funds

4

Service Providers

2

About TVC Capital

TVC Capital is a growth equity firm focused on investments in and acquisitions of software companies and software-enabled service firms. We target a wide spectrum of software sectors and industry verticals that are poised for growth and consolidation.

TVC Capital Headquarter Location

11260 El Camino Real Suite 220

San Diego, California, 92130,

United States

858-704-3261

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Latest TVC Capital News

New SPAC to target real estate startups

Dec 13, 2021

Southport Acquisition Corp. CEO Jeb Spencer (TVC Capital, iStock) A new blank check company is entering the SPAC space, setting its sights on financial software startups focused on mortgage and real estate. Southport Acquisition Corp. priced an initial public offering on Friday. Inman reported the company is offering 20 million units at $10 each, hoping to raise more than $234 million; that’s dependent on BofA Securities exercising a 45-day option to purchase an additional 3 million units. An investor prospectus from Southport reveals more about what the company has planned. The company aims to partner with a promising mortgage or real estate startup. The prospectus says the company is on the lookout for “a leading financial services software or FinTech partner, with particular focus on mortgage and real estate software verticals, that generates between $50 million and $100 million of revenues and is valued between $1 billion and $2 billion.” Read more Southport Acquisition Corp. counts financial software industry veterans among its management team. The company CEO is Jeb Spencer, co-founder and managing partner of TVC Capital. He also served on the board of directors of Ellie Mae from 2011 to 2019, according to Inman; the mortgage technology firm was acquired by Intercontinental Exchange in 2020 for $11.4 billion. Members of the company’s board of directors include SimpleNexus CEO Cathleen Schreiner Gates, Ellie Mae co-founder Sig Anderman and Baseball Hall of Famer Dave Winfield. This year has seen blank-check companies pull in billions of dollars. The sector saw new heights of activity last year with 248 firms going public, raising $83 billion, according to SPACInsider. The proptech space has fielded mergers and acquisitions. Through the end of August, proptech M&As totaled more than $18 billion for the year, putting it on pace to exceed the $21.9 billion transacted in the space in 2020.

TVC Capital Investments

50 Investments

TVC Capital has made 50 investments. Their latest investment was in Aidaly as part of their Seed VC on June 6, 2022.

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TVC Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/22/2022

Seed VC

Aidaly

$8.5M

Yes

2

12/8/2021

Series C

Celigo

$48M

No

14

11/30/2021

Series A

SpotHopper

$14M

Yes

8

9/14/2021

Series C - II

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$99M

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10

2/12/2021

Series B - II

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$99M

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10

Date

6/22/2022

12/8/2021

11/30/2021

9/14/2021

2/12/2021

Round

Seed VC

Series C

Series A

Series C - II

Series B - II

Company

Aidaly

Celigo

SpotHopper

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Amount

$8.5M

$48M

$14M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

2

14

8

10

10

TVC Capital Portfolio Exits

15 Portfolio Exits

TVC Capital has 15 portfolio exits. Their latest portfolio exit was Docupace on July 27, 2022.

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

7/27/2022

Acquired

$99M

1

6/15/2022

Reverse Merger

$99M

6

2/10/2022

Acquired

$99M

2

1/20/2022

Acquired

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$99M

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10

1/10/2022

Acquired

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$99M

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10

Date

7/27/2022

6/15/2022

2/10/2022

1/20/2022

1/10/2022

Exit

Acquired

Reverse Merger

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

6

2

10

10

TVC Capital Acquisitions

1 Acquisition

TVC Capital acquired 1 company. Their latest acquisition was ReverseVision on November 27, 2012.

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

11/27/2012

Series A

$99M

$11M

Acq - Fin

1

Date

11/27/2012

Investment Stage

Series A

Companies

Valuation

$99M

Total Funding

$11M

Note

Acq - Fin

Sources

1

TVC Capital Fund History

4 Fund Histories

TVC Capital has 4 funds, including TVC Capital III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/14/2015

TVC Capital III

Industry Focused

Closed

$115M

2

9/12/2012

TVC Capital II LP

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$99M

10

TVC Capital IV

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10

TVC Capital

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10

Closing Date

1/14/2015

9/12/2012

Fund

TVC Capital III

TVC Capital II LP

TVC Capital IV

TVC Capital

Fund Type

Industry Focused

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Status

Closed

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Amount

$115M

$99M

Sources

2

10

10

10

TVC Capital Service Providers

2 Service Providers

TVC Capital has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

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Service Provider

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Associated Rounds

Provider Type

Counsel

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Service Type

General Counsel

Partnership data by VentureSource

TVC Capital Team

3 Team Members

TVC Capital has 3 team members, including current Founder, Managing Partner, Jeb S. Spencer.

Name

Work History

Title

Status

Jeb S. Spencer

Founder, Managing Partner

Current

Tighe M Reardon

Chief Financial Officer

Current

Steven J. Hamerslag

Managing Partner

Current

Name

Jeb S. Spencer

Tighe M Reardon

Steven J. Hamerslag

Work History

Title

Founder, Managing Partner

Chief Financial Officer

Managing Partner

Status

Current

Current

Current

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