Dallas-based venture capital company Cypress Growth Capital announced it has invested $2 million in PFA Solutions, a Virginia-based provider of software solutions tailored to the unique needs of private equity, venture capital, and other alternative asset management and investment firms.
“As investment firms have grown in size and complexity, the importance of compensation structures and employee satisfaction has increased,” Cypress Managing Director Vik Thapar said in a statement. “PFA helps firms manage these issues in a streamlined manner, saving investment managers time and money. The executives at PFA have deep industry expertise and relationships. We are very excited about the company’s future.”
Founded in 2013, PFA offers a SaaS platform for complex compensation management, investor relations, and fund reporting. Its flagship product, FirmView, is an interactive, firmwide dashboard that allows investment firms to manage carried interest and compensation for the full life cycle of their funds, supporting employee co-investments and base, bonus, and other compensation arrangements on a fund and deal-by-deal basis.
“We partnered with Cypress because of their backgrounds as entrepreneurs and operators with more than a decade of success backing the next generation of emerging growth companies,” Richard Change, PFA’s co-founder & managing partner, said in a statement. “In addition, their non-dilutive capital allows us to preserve control of our direction and our valuable equity, both of which are important as we’ve reached an inflection point of growth.”
Cypress’ investment will be used to enhance PFA’s implementation and support infrastructure, expand the FirmView platform’s capabilities, and accelerate growth through sales and marketing, the company said.
Since 2011, Cypress has invested in some 50 software and tech-enabled services. The company said it offers “a flexible, patient” form of capital that fits the unique needs of fast-growth tech companies.
Earlier this year, we wrote about Cypress Growth Capital’s $3 million investment in Dallas startup CloudRadial.
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