Trio of Adams Street portfolio companies launch IPOs on successive days


exitGlobal private equity investor Adams Street Partners saw a trio of its portfolio companies launch IPOs in as many days last week, the first time such a situation is thought to have happened in almost 20 years.

Paylocity priced its IPO on Tuesday, Q2 on Wednesday and Borderfree on Thursday. Prior to their IPOs, Adams Street owned 29.6 per cent of Paylocity, 36.8 per cent of Q2 and 21.7 per cent of Borderfree.

Adams Street partner Jeff Diehl, who works with the firm’s direct venture capital and growth equity teams, said, “All three IPOs demonstrate our commitment to rapidly growing, late-stage venture and growth equity companies in their pursuit of achieving leadership positions in their markets.

“We look forward to working alongside the management teams as they progress along their paths ahead as public companies.”

Adams Street’s direct venture and growth equity team targets the software, internet, healthcare IT/services, medical devices and biopharmaceutical sectors.

The team focuses on companies which have previously received initial capital, and typically invests between $5m and $30m per deal.

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