Search fund-based private equity house Anacapa Partners has made a growth investment in Israel-based Dooblo, a specialist in mobile survey software, data collection and analysis.
Trail Mark Partners also took part in the investment in the company, which was launched back in 2001.
Dooblo’s flagship product, SurveyToGo, is designed to reduce the cost of traditional paper-based surveys while significantly improving quality of the collected data.
Anacapa managing partner Jeff Stevens said, “We are excited to partner with Trail Mark and current leadership to provide Dooblo with the resources to continue its impressive growth.
“Dooblo’s SurveyToGo platform is considered by many to be the premier data collection tool in the research space. We look forward to working closely with Dooblo to further grow its market share.”
Lower mid-market-focused Anacapa confirmed in February that it had closed off its third fundraise after pulling in $79m of commitments.
The firm focuses of investing in operating companies that have been identified by principals operating within the search fund business model.
The search fund is a two-stage structure in which a group of investors appoints an entrepreneur to find a suitable business and take full control of it after the buyout by becoming CEO.
Anacapa Partners participates in the second stage of the structure by joining with the investors to co-invest in the acquisition of operating companies identified by search fund entrepreneurs.
It tends to target companies with predictable, stable and recurring revenues, and a history of profitability, which are currently generating between $1m and $5m of EBITDA.
Copyright © 2019 AltAssets