Growth equity firm investing in technology companies
Riverwood Capital
- HeadquartersMenlo Park, CA S1
- Founded2008 S1
- Websiteriverwoodcapital.com
- Last verifiedOctober 22, 2026
At a glance
| Assets under management | $6B (as of Mar 2026) S1 |
|---|---|
| Latest fund | Riverwood global technology growth funds, $1.8B (Nov 2023) S4 |
| Check size | $25M to $250M S1 |
| Deal types | Growth, Minority, Platform, Add-on S1 |
| Geography | North America, Latin America, Select emerging markets S1 |
| Sectors | Software & SaaS, Cybersecurity |
What Riverwood Capital buys
Riverwood Capital is a growth equity firm founded in 2008 and based in Menlo Park, California, with offices in New York, Miami and São Paulo. It reported more than $6 billion of regulatory assets under management as of March 2026. It invests only in technology and technology-enabled companies with large markets and proven business models, which it defines as companies that are profitable or not yet profitable but with positive unit economics. It looks worldwide, with most activity in North America and Latin America, and typically leads investments of $25 million to $250 million or more per company.
Riverwood can take either a minority stake or control. Most recent deals are minority growth rounds that it leads, such as $180 million for LeapXpert in June 2026 and $65 million for Minga in March 2026, but it acquired Quicklizard in 2025, and its portfolio companies buy smaller businesses, as HG Insights did with TrustRadius and Madkudu. Its last fundraise closed with $1.8 billion of commitments in November 2023.
Recent deals
Announced in the 24 months before October 22, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jun 2026 | LeapXpert$180 million round led by Riverwood for software that governs business messaging on apps like WhatsApp; Riverwood joins the board | Growth | Software & SaaS | Source |
| Apr 2026 | FullpathAgreement for Cox Automotive to buy the AI customer data and marketing platform for car dealers | Exit | Software & SaaS | Source |
| Mar 2026 | Minga$65 million for a student behavior and campus operations platform used by K-12 schools | Growth | Software & SaaS | Source |
| Feb 2026 | Segura$25 million for privileged access management software used by more than 1,000 companies | Growth | Cybersecurity | Source |
| Feb 2026 | Urban SDK$65 million for AI mapping software used by cities, states and transportation departments | Growth | Software & SaaS | Source |
| Jan 2026 | Fracttal$35 million round led by Riverwood for AI maintenance software, with existing investors joining | Growth | Software & SaaS | Source |
| Jan 2026 | DealHub$100 million round led by Riverwood for quoting, billing and revenue software | Growth | Software & SaaS | Source |
| Sep 2025 | AppZen$180 million round led by Riverwood for AI software that automates expense and payables work for finance teams | Growth | Software & SaaS | Source |
| Aug 2025 | AgendaPro$35 million for scheduling and payments software used by salons, spas and clinics in Latin America | Growth | Software & SaaS | Source |
| Aug 2025 | MadkuduSales and marketing analytics software added to HG Insights | Add-on | Software & SaaS | Source |
| Jul 2025 | Cox 2MAdded to Cognosos, an asset tracking and location software company | Add-on | Software & SaaS | Source |
| Jun 2025 | TrustRadiusBusiness software review site added to HG Insights | Add-on | Software & SaaS | Source |
| May 2025 | QuicklizardRiverwood completed its acquisition of the AI pricing software company | Platform | Software & SaaS | Source |
| Jan 2025 | Paytrack$37 million for a Brazilian corporate travel and expense software platform | Growth | Software & SaaS | Source |
Portfolio by sector
From the firm's portfolio page S2.
Cybersecurity
- BigID
- Picus
- SecurityScorecard
- Segura
- SpyCloud
Education
- Digital House
Software & SaaS
- AgendaPro
- Alation
- Alegra
- Amigo Tech
- AppZen
- Cognosos
- Cortex
- CRM Bônus
- DealHub
- Degreed
- Dock
- Druva
- Files.com
- Fracttal
- Geopagos
- Gladly
- Greenhouse
- Gupy
- HammerTech
- HG Insights
- Hyperproof
- Insider One
- Intelipost
- InvGate
- Jobint
- LeapXpert
- Legion
- Logcomex
- Minga
- netLex
- Nium
- Omie
- One Model
- Paytrack
- Qive
- Quicklizard
- Sauce Labs
- Sensedia
- Sensor Tower
- ShipHero
- SUMA SaaS
- UBITS
- Urban SDK
- VTEX
Other
- Gigared
- Nextdoor
- Petlove&Co
- QuintoAndar
- Vacasa
- Vexcel Imaging
Past investments: Fullpath, Industrious, Cloudvirga, Pixeon, Metrotel
Greymont’s take
How Riverwood Capital fits a seller
Riverwood fits founders of software or tech-enabled companies that are already scaling, often with venture investors already on board, who want a large growth check and help expanding into new countries. Most of its deals are minority rounds where the founders keep running the company, so it suits an owner who wants capital to grow rather than a full exit. It is a weaker fit for services businesses, small owner-operated firms, or companies whose model is not yet proven.
When Riverwood exits, it often sells to a strategic buyer, as with the agreed sale of Fullpath to Cox Automotive in April 2026. An owner should ask whether Riverwood wants a board seat and what rights come with its minority stake, how long it expects to stay invested, and whether the money would come from its equity funds or its growth credit team.
Questions owners ask
How much does Riverwood Capital invest?
It typically evaluates and leads investments of $25 million to $250 million or more per company. Recent rounds it led include $180 million for AppZen in September 2025 and $180 million for LeapXpert in June 2026.
Does Riverwood Capital take control of companies?
It can. The firm says it structures both minority and control deals. Most recent deals are minority growth rounds, but in May 2025 it completed an acquisition of Quicklizard, an AI pricing software company.
Will Riverwood invest in a company that is not yet profitable?
Yes, if the business is proven. Riverwood counts a company as proven if it is profitable, or if it is not yet profitable but already has positive unit economics.
Where does Riverwood Capital invest?
Worldwide, with particular emphasis on North America and Latin America. Recent deals include US companies such as AppZen in San José, California, and Latin American ones such as AgendaPro in Santiago, Chile, and Paytrack in Brazil.
Sources
- S1Riverwood Capital home page (focus, investment sizes, AUM, offices) Accessed October 22, 2026
- S2Riverwood Capital: Portfolio Accessed October 22, 2026
- S3Riverwood Capital: News Accessed October 22, 2026
- S4Riverwood Capital Exceeds Target with $1.8 Billion in Commitments for Global Technology Growth Funds (November 20, 2023) Accessed October 22, 2026
- S5Quicklizard Announces Completion of Acquisition by Riverwood Capital (May 8, 2025) Accessed October 22, 2026
- S6Riverwood Capital: AgendaPro portfolio page Accessed October 22, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Riverwood Capital. Figures are as reported on the dates shown and may have changed. Request a correction