Participated · Series E · Sep 2021

Varo Bank operates a fully digital, nationally chartered banking platform that has focused on the needs of everyday Americans since launching its app in 2017. The company offers a suite of products such as high-yield savings accounts, cashback debit cards, the Varo Believe secured card, Varo Advance, and the Varo Line of Credit. Its proprietary machine-learning models supplement traditional credit data, broadening access to credit beyond conventional scoring methods. In 2025, these lending products generated $547 million in loan volume, underscoring strong demand for Varo’s credit offerings. Management reports simultaneous revenue growth and cost reductions in 2025, demonstrating improved operating efficiency. Varo’s technology-first approach is reinforced by the governance and risk discipline required of a nationally chartered bank, and the company has earned recognition on the Inc. 5000, CNBC World’s Top Fintech Companies, Forbes’ World’s Best Banks, and Fast Company’s Most Innovative Companies lists. Recent additions to the board, including former Morgan Stanley CMO Alice Milligan and former JPMorgan executive Kevin Watters, bring additional financial industry expertise to guide the next stage of growth.

Led · Equity · Apr 2021

UPSTACK is a profitable, fast-growing platform that transforms how businesses source and architect cloud and internet infrastructure solutions. It combines leading cloud and internet infrastructure advisors with proprietary software and support resources to architect customized solutions across services including colocation and data center, network connectivity, SD‑WAN, unified communications, cloud contact center, public and private cloud, security, mobile, business continuity and IoT. Since its founding in 2017 in New York, UPSTACK has completed more than 1,000 data center, connectivity and cloud-based projects and has acquired 13 independent agencies to become the largest and fastest-growing agency in the technology industry. The company intends to continue investing in category-leading telecom, cloud and connectivity firms. UPSTACK says it will use new financing to scale and expand its platform and to strengthen its balance sheet. Berkshire Partners remains UPSTACK’s lead investor and active partner, providing sector expertise and capital markets support. Upstack provides a platform used by system integrators, advisors and end users to design and compare pricing for private, public and hybrid cloud, data center, network connectivity, business continuity and mobile services. The company pairs that technology with about 15 advisors who offer consulting and procurement guidance; customers can pay consulting fees or Upstack can receive commissions from suppliers. Upstack serves large enterprises, government organizations and smaller businesses and names customers including Cisco, Accenture, Backblaze, Riverbed and Lumen. It reports being profitable and says it has helped complete over 3,700 IT projects across 1,000 engagements to date. The company plans to add more categories such as unified communications and security and to continue expanding its services business and advisor team. UpStack is a New York City-based colocation procurement platform provider founded in 2016 by CEO Christopher Trapp. The company has launched a global colocation procurement platform that enables IT professionals, systems integrators and consultants to discover, price and procure colocation solutions worldwide. UpStack counted more than 60 customers prior to launch and had been beta testing with hyperscale companies as well as technology startups. The company secured $1.8M in seed funding from Burch Creative Capital and Montage Ventures. It is using the funds to continue to develop and launch the platform. The announcement was reported on October 18, 2017.

Participated · Equity · Sep 2020

Alkami Technology provides a cloud-based digital banking platform for banks and credit unions in the U.S., enabling clients to grow, adapt and build digital communities. Led by CEO Mike Hansen, Alkami serves over 160 financial institutions and represents nearly 10 million consumers and businesses. The company reported adoption of nearly 10 million digital users under contract in September and crossed over $130 million of Annual Recurring Revenue under contract after adding its 165th client. Alkami’s platform is used to deliver digital banking services and support client growth and engagement. The company held an initial closing of a major funding round to support continued expansion and product deployment. Alkami Technology provides a cloud-based digital banking platform for banks and credit unions across the United States. The platform enables financial institutions to deliver personalized digital banking features for consumers and businesses and to build an engaged digital community. Alkami is led by CEO Mike Hansen and is used by more than 130 financial institutions. The company plans to use newly raised funds to expand operations and broaden its business reach. Since inception, Alkami has raised over $225m in capital, including the Series E round. The business focuses on supporting a digital-first banking experience for its customers. Alkami Technology is a Plano, Texas-based provider of a unified, multi-tenant cloud-based digital banking platform for banks and credit unions. The platform includes retail and business banking, mobile banking, bill pay, personal finance management, person-to-person payments, marketing, and is delivered with an SDK and API set. Alkami-enabled institutions can build their own apps and product extensions and integrate new features across all lines of business. Led by CEO Mike Hansen, the company serves more than 4.5 million digital banking users across its U.S. client base. Alkami intends to use the strategic investment to fund the next stage of innovation, growth, and expansion. The company is backed by investors including S3 Ventures and Argonaut Private Equity.

Led · Equity · Dec 2017

Precision Medicine Group (PMG) provides specialized services and an integrated infrastructure to support pharmaceutical and life-sciences companies developing precision-medicine drugs and diagnostics. The company supports development, approval and commercialization efforts across drugs and diagnostics. PMG was formed in 2012 and is headquartered in Bethesda, Maryland, with more than 1,000 employees and 22 locations in the U.S., Canada and Europe. Management says the company’s services address key challenges facing biopharmaceutical and diagnostic companies. The new capital will fund expansion of PMG’s global footprint and provide additional scale to accelerate development and commercial success for customers. No revenue or other financial metrics were disclosed in the article.