We strongly believe as technology companies continue to scale, value creation follows a non-linear path – growth drives increased profitability and market leaders garner strategic values. The companies in which we have invested have meaningfully accelerated revenue growth and margin expansion, which has led to a much faster increase in value for all stakeholders.
We are patient, long-term investors and do not have a predefined exit horizon. We work closely with management teams to determine the right time for liquidity events, and it is our experience that making the right fundamental business decisions and reinvesting in businesses results in attractive value creation for all stakeholders.
We believe in shared participation in value creation. All of the management teams with whom we partner have meaningful equity ownership. In addition, as individuals, we invest a significant portion of our personal assets in companies alongside these management teams. Unlike many PE firms, we do not charge fees to our portfolio companies. We believe this helps align incentives and allows everyone to share in the value our collective hard work creates.
We only succeed when our management teams succeed. As a result, they are our best references.