Private equity firm focused on B2B software companies

Terminus Capital Partners

  • HeadquartersAtlanta, GA S1
  • Founded2017 S1
  • Websiteterminuscp.com
  • Last verifiedNovember 2, 2026

At a glance

Revenue range$10M to $50M S2
Deal typesPlatform, Add-on S1
GeographyUnited States, Canada S2
SectorsSoftware & SaaS

What Terminus Capital Partners buys

Terminus Capital Partners is an Atlanta private equity firm, founded in 2017, that invests only in business-to-business software. It takes majority stakes in companies headquartered in the United States or Canada with roughly $10 million to $50 million or more of revenue. It also wants growth, customer retention of 90% or better, and EBITDA that is positive or close to it. The firm describes its capital base as permanent and flexible.

Terminus stays closely involved after closing. Its operating team works with portfolio companies on sales and marketing, engineering, quality testing and integration, and managers get options and ownership. It also grows by adding companies, as when Voxco took on Ascribe in 2024 and then merged with Discuss in 2025. Its 2026 platforms serve narrow markets: trade surveillance (Eventus), life insurance and annuity administration (Andesa) and farm labor management (PickTrace). A software business below $10 million of revenue is more likely to fit as an add-on to one of these.

Recent deals

Announced in the 24 months before November 2, 2026.

DateCompanyTypeSectorSource
Oct 2026PickTraceMajority growth investment in workforce, labor compliance and operations software for specialty agriculture; the founders stay involvedPlatformSoftware & SaaSSource
Mar 2026Andesa ServicesMajority investment with management in policy administration software for complex life insurance and annuity productsPlatformSoftware & SaaSSource
Feb 2026EventusMajority investment in an Austin trade surveillance and market risk software providerPlatformSoftware & SaaSSource
Nov 2025DiscussTerminus-backed Voxco merged with market research platform Discuss; the combined company uses the Discuss nameInvestmentSoftware & SaaSSource
May 2025Delta DataPooled fund software company acquired by affiliates of BetaNXTExitSoftware & SaaSSource

Portfolio by sector

From the firm's portfolio page S3.

Current Investments

  • PickTrace
  • Andesa Services
  • Eventus
  • Discuss (combined with Voxco and Ascribe)

Past investments: Delta Data Software, NQR, Katabat, Simplicity Collect

Greymont’s take

How Terminus Capital Partners fits a seller

Terminus fits the founder or management team of a B2B software company, often a product built for one industry, with steady recurring revenue and high customer retention, who wants a majority investor that knows software well. In its recent deals the sellers kept their leaders and brands: Andesa's management, service model and name stayed in place, and PickTrace's founders are continuing with the business. Expect real involvement from an operating team that works on product, engineering and selling.

Terminus bought Delta Data in December 2021, added NQR in 2023 and saw it sold to BetaNXT in May 2025, so a hold of three to four years is possible. Owners should ask how the operating team will change their product and sales processes, and what equity or option package management will receive.

Questions owners ask

What size software companies does Terminus Capital Partners buy?

Its criteria call for B2B software companies with about $10 million to $50 million or more of revenue, headquartered in the US or Canada, growing, with retention of 90% or higher and EBITDA that is positive or close to it.

Does Terminus take minority stakes?

Its stated focus is majority investments. Each of its 2026 deals, Eventus in February, Andesa in March and PickTrace in October, was announced as a majority investment, and in each case the existing leadership stayed on.

Has Terminus sold any companies?

Yes. Delta Data, a pooled fund software company it bought in December 2021, was acquired by affiliates of BetaNXT in May 2025. Earlier, its debt collection software company Katabat was sold to Ontario Systems.

Sources

  1. S1Terminus Capital Partners home page Accessed November 2, 2026
  2. S2Terminus Capital Partners: About Us and investment criteria Accessed November 2, 2026
  3. S3Terminus Capital Partners: Portfolio Accessed November 2, 2026
  4. S4Terminus Capital Partners: News Accessed November 2, 2026
  5. S5Terminus Capital Partners makes majority growth investment in PickTrace (October 13, 2026) Accessed November 2, 2026
  6. S6Terminus Capital Partners makes majority investment in Andesa (March 26, 2026) Accessed November 2, 2026
  7. S7Terminus Capital Partners makes majority investment in Eventus (February 26, 2026) Accessed November 2, 2026
  8. S8Discuss and Voxco Announce Strategic Combination (November 13, 2025) Accessed November 2, 2026
  9. S9BetaNXT Acquires Delta Data (May 23, 2025) Accessed November 2, 2026
  10. S10Voxco and Ascribe Announce Strategic Investment by Terminus Capital Partners (September 5, 2024) Accessed November 2, 2026
  11. S11Delta Data Expands Pooled Asset Solutions with Acquisition of National Quality Review Accessed November 2, 2026
  12. S12Ontario Systems Acquires Katabat Accessed November 2, 2026
  13. S13Terminus Capital Partners: Team Accessed November 2, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Terminus Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction

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