Lower middle market software private equity firm
Greenridge Growth Partners
Formerly Greenridge Investment Partners
- HeadquartersAustin, TX S5
- Websitegreenridgegrowth.com
- Last verifiedNovember 3, 2026
At a glance
| Latest fund | Greenridge Growth Partners II, $255M (Oct 2024) S5 |
|---|---|
| Revenue range | $5M to $15M S5 |
| Deal types | Platform, Add-on, Minority S5 |
| Sectors | Software & SaaS |
What Greenridge Growth Partners buys
Greenridge Growth Partners is an Austin, Texas private equity firm that invests only in B2B software. It looks for bootstrapped, founder-led companies that sell purpose-built software to one industry or niche, with recurring revenue, high customer retention, strong gross margins and little need for capital spending. Its October 2024 fund announcement put the target at $5 million to $15 million of annual recurring revenue and said it makes control investments, often for founders who want partial liquidity and help with the next stage. Greenridge wants founders to keep a meaningful stake, and it advises from the board rather than taking over day-to-day decisions.
Its second fund closed in October 2024 at $255 million. The firm was called Greenridge Investment Partners until 2020. Its current companies sell software to senior care operators, faith-based institutions, medical device makers, franchise service brands and property tax offices, and they grow partly through acquisitions, such as NetVendor's 2022 purchase of ServusConnect. A software company below its revenue range is more likely to fit as an add-on to one of these platforms.
Recent deals
Announced in the 24 months before November 3, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Nov 2025 | NetVendorMajority of the vendor compliance software company for property managers sold to Five Arrows; Greenridge kept a minority stake | Exit | Software & SaaS | Source |
| May 2025 | Grand Avenue SoftwareQuality management software for medical device makers, based in St. Paul, Minnesota | Platform | Software & SaaS | Source |
Portfolio by sector
From the firm's portfolio page S4.
Enterprise Software / Business Management Software with Integrated Payments
- ServiceMinder
Enterprise Software / Governance, Risk, and Compliance
- Grand Avenue Software
- Veriforce Listed; current status not stated
Enterprise Software with Integrated Payments
- eCatholic
Information Services / Government Technology
- TrueRoll
Workforce Management / Healthcare Technology
- Covr
Past investments: NetVendor, GrowthZone
Greymont’s take
How Greenridge Growth Partners fits a seller
Greenridge suits founders of vertical software companies who have grown without outside capital, want to take some money off the table, and plan to keep a real stake and keep leading the business. Its principles say it asks whether founders will retain a meaningful economic interest, so a clean exit on day one is not the usual shape of a deal. Its recent holds have run about four years: it backed GrowthZone in 2019 and sold it to Lead Edge Capital in 2023, and backed NetVendor in 2021 before selling a majority to Five Arrows in 2025 while keeping a minority stake.
For owners of services businesses, Greenridge is only relevant if software is the core product. A founder should ask how much equity they would keep, how the board will be set up, and what the next sale might look like, since that later sale is often where rolled equity pays off.
Questions owners ask
What size software company does Greenridge invest in?
Its Fund II announcement in October 2024 said it makes control investments in founder-owned B2B software companies with annual recurring revenue of $5 million to $15 million.
Does a founder keep a stake after Greenridge invests?
Usually. Greenridge says it looks for partners willing to keep a meaningful economic interest, and it describes itself as a partner for founders seeking partial liquidity rather than a full sale.
Has Greenridge sold any companies recently?
Yes. In November 2025 it sold a majority of NetVendor, vendor compliance software for property managers, to Five Arrows and kept a minority stake. In May 2023 it sold GrowthZone, association management software, to Lead Edge Capital.
Sources
- S1Greenridge Growth Partners home page and news Accessed November 3, 2026
- S2Greenridge Growth Partners: Our Firm (principles and founders' letter) Accessed November 3, 2026
- S3Greenridge Growth Partners: Our Approach Accessed November 3, 2026
- S4Greenridge Growth Partners: Our Portfolio Accessed November 3, 2026
- S5Greenridge Announces Close of Fund II, Oversubscribed at $255 Million (October 22, 2024) Accessed November 3, 2026
- S6Greenridge Invests in Grand Avenue Software (May 6, 2025) Accessed November 3, 2026
- S7Greenridge Announces Majority Sale of NetVendor (November 4, 2025) Accessed November 3, 2026
- S8Greenridge Investment Partners Rebrands as Greenridge Growth Partners (October 8, 2020) Accessed November 3, 2026
- S9Greenridge Announces Sale of GrowthZone (May 16, 2023) Accessed November 3, 2026
- S10Greenridge Growth Partners Announces Strategic Growth Investment in eCatholic (November 11, 2020) Accessed November 3, 2026
- S11Greenridge Growth Partners: Deal Announcements Accessed November 3, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Greenridge Growth Partners. Figures are as reported on the dates shown and may have changed. Request a correction