Unveiling SureSwift Capital’s Fund C: The Next Chapter of our Innovative Serial Acquirer Model [2024]

2024 marks SureSwift Capital’s return to B2B SaaS investments with the launch of Fund C, following a two-year hiatus from acquisitions. With two successful funds behind us since our establishment in 2015, we're proud pioneers in B2B SaaS investment. Fund C continues our commitment to acquiring profitable, growing B2B SaaS companies, prioritizing long-term growth and capital appreciation.

Our dedicated team, blending fresh perspectives with seasoned expertise, forms the core of our success. With Fund C, we unite both new and experienced professionals, driven by our mission to identify and nurture promising ventures in the B2B SaaS landscape. With a bigger acquisition pool than ever, and continued vitality in the business model and market, it’s the perfect time to grow the SureSwift portfolio.

In this blog, we delve into the intricacies of Fund C, exploring familiar elements from past funds alongside new features such as acquisition selection criteria, operational enhancements, and exciting opportunities on the horizon. Join us as we begin SureSwift's next chapter, forging new pathways in B2B SaaS and redefining success in tech investment.

Proven winners: what’s staying the same

We’ve come a long way since our first acquisition in 2015, and we’ve achieved incredible things along the way. SureSwift has acquired over 50 businesses, successfully operates two major fund portfolios, and we’ve proven out our capabilities as exceptional operators through the ongoing success of our businesses.

There are a lot of factors that have contributed to this success, but some core tactics and strengths we’re bringing with us into SureSwift’s Fund C are:

A focus on B2B SaaS 

After nine years and over 50 acquisitions, we’ve honed in on our strategic bullseye – B2B SaaS businesses. For SureSwift, high-quality B2B SaaS businesses are a recurring revenue machine, providing an outstanding balance of reliable, ongoing revenue and opportunities for continued growth. With B2B SaaS, we achieve diversification across various industries and niches, while strategically selecting businesses with similar go-to-market functions, enabling us to leverage our existing expertise seamlessly across our entire portfolio.

As we unveil the blueprint for Fund C, our sights are set slightly upmarket on businesses with an ARR of 1-5 million. Additionally, we’re focused on ensuring that each business we acquire can stand on its own merits, not acquiring with an eye to any potential business synergies within our portfolio. We’ll also spend time doing deep due diligence on teams, getting a feel for how they would fit with SureSwift’s culture, and ensuring that we have all the resources we need to successfully onboard and transition the business. Every acquisition is a partnership, and we're committed to aligning ourselves with teams whose values and vision mirror our own.

An exceptional approach to operations

Recently, we codified our approach to business growth in our Exceptional Operator Framework (EOF), which epitomizes a scalable and dynamic approach to operations. The EOF empowers our portfolio businesses with a semi-autonomous model by fostering collaboration and support while granting individual business teams the agility to swiftly respond to evolving market demands.

Through the formalization of the Exceptional Operator Framework, we've crafted a definitive roadmap for post-acquisition success. Newly onboarded portfolio businesses gain access to our arsenal of resources, boasting comprehensive playbooks that distill best practices across diverse domains—from marketing strategies to robust security protocols. Our global network of talented business leaders makes up our most valuable resource, as they share their expertise and offer support across the portfolio, participating in Skill Guilds and staying connected through regular meeting pulses and Slack.

Fund C evolution: what’s new

While our past funds have seen strong returns and business accomplishments, we’re always looking for ways to evolve and improve. For our upcoming Fund C, we’re planning on some considered improvements to drive even bigger success.

New, highly experienced leadership

As our portfolio expanded, SureSwift embraced evolution and adaptation. In 2022, a wave of seasoned leaders with deep business and tech acumen joined our ranks. CEO James DeGreef led the charge, followed swiftly by COO John Austin and CFO Paul Moore. Since then, our team has been bolstered by an array of subject matter experts and visionary leaders, particularly in critical domains like marketing, M&A, investor relations, and HR. Most recently, we welcomed Connor Edwards as the new Director of the Mergers & Acquisitions team, injecting additional invaluable investment expertise into our ranks. With Connor's addition, we're poised for next-level success as we embark on the journey of building our Fund C portfolio.

Deeper involvement with Investors

Over the past 6 years, as we engaged with our Investors, we've unearthed a wealth of investment, business, and tech expertise and experience. Recently, we formed a Limited Partners Advisory Committee (LPAC) to harness this knowledge for our Fund B. We’re excited to see how this new LPAC helps level up business decisions even further, and it’s something we’ll be including from day one in Fund C. Participation in the LPAC is completely optional, but from what we’ve seen so far, it’s going to be a powerhouse of business acumen and an invaluable addition to our operations. 

Ongoing connections with Founders

A piece of feedback that we heard from Founders while building the Fund B portfolio was that they were surprised we didn’t ask for more of their time or knowledge post-acquisition. While we wanted to ensure a smooth transition, we’ve realized that Founders want some level of oversight and advice with their businesses and products post-acquisition. We’re more than happy to make that happen, especially since we know it will drive even greater success for acquisitions. The Founders we buy from are visionary, capable people, so having them stay around and engaged with their businesses and SureSwift will be a huge value-add.

We're gearing up to enhance our connection with Founders through several initiatives. Firstly, we're introducing a Founder's Council, providing a platform for the Founders we acquire to exchange their insights and expertise. Secondly, we're extending Founders the opportunity to reinvest a portion of their sale proceeds back into Fund C—an attractive option for those seeking to mitigate risk, alleviate pressure, and gain cash flow, benefiting from their businesses and other B2B SaaS businesses' ongoing success.

What’s next

We're already deep into work on Fund C, ramping up deal flow as we begin looking toward our first Fund C portfolio acquisition in the second half of 2024. We couldn't be more excited for this next evolution at SureSwift – with a wealth of experience under our belt, we're eager to apply our tried and true methods while innovating with the new strategies and updates we'll be incorporating. This marks a significant chapter in SureSwift’s growth story, and we're ready to seize every opportunity that comes our way. 

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If you're a Founder thinking of an exit in the next year, be sure to check out our Founder page for more information and to get in touch.

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