Morgan Stanley Expansion Capital is a private investment platform targeting late-stage growth equity and credit investments in technology, healthcare, consumer, digital media and other high-growth sectors.
We specialize in making equity and credit investments in technology and other high-growth sectors, such as healthcare, digital media, e-commerce, consumer and business services. Our team predominantly invests in North America and Western Europe. Our focus is on late-stage private companies, largely with established products and services addressing established markets seeking capital to scale revenue and expand business operations.
In addition to capital, the team relies on its industry experience to drive strategic growth, improve board governance, optimize capital structures, enhance operational efficiency, recruit senior executives and advise on strategic and financial liquidity. We seek to leverage the Morgan Stanley global brand, insights, resources and relationships in all our investment activities.
Investments typically range from $10 million - $25 million per transaction but there may be additional size flexibility through syndicate and co-investor relationships. Morgan Stanley Expansion Capital typically leads investments, but will also co-lead and participate in syndicated opportunities.
We generally do not take controlling ownership positions, so our investment strategy is predicated upon a partnership framework with founders, management teams and fellow investors. Value creation is driven by growth with a particular focus on capital efficiency and demonstrated unit economics.
Expansion Capital’s Advisory Partners provide an additional resource across our investment portfolio. Advisory Partners often participate in the examination of investment opportunities, serve on company boards, share their market and business insights and consult with portfolio founders and management to drive growth throughout the life cycle of an investment.
Morgan Stanley Expansion Capital and its predecessors have invested in the growth sectors for over three decades. We believe we are unique in our ability to offer private equity or credit investment to late-stage growth companies with the flexibility to lead or syndicate investments. Our investment team and our portfolio companies benefit from Morgan Stanley's global resources, network and franchise. Our long tenure and unique relationship with Morgan Stanley affords our portfolio companies unparalleled access to thought leaders, industry experts, operational expertise and managerial talent. We believe that our experience and reputation enables us to build market leaders which are more valuable and better positioned, and thus able to drive outcomes which maximize exit value for our companies and our investors.
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Virginia-based Decisiv is the provider of the largest asset service management ecosystem for the commercial vehicle industry. The Decisiv Service Relationship Management (SRM) platform is the foundation for the nearly 5,000 service locations across North America that manage more than 4 million service and repair events for commercial vehicles annually.
Platform.sh is a unified, secure, enterprise-grade platform for building, running and scaling web applications. Founded in 2015, the company is headquartered in Paris and San Francisco. Platform.sh employs 340 people across 36 countries and is available in Europe, the United States and Asia, through global partnerships with AWS, GCP, Azure and OVHcloud.
CompStak is the leading crowdsourced commercial real estate platform. They handle millions of data points each week to create a comprehensive, robust CRE datat set. CompStak envisions a commercial real estate industry in which accurate and transparent data leads to better, faster deals. CompStak is available on a subscription basis exclusively to qualified lenders, landlords, and investors operating in the commercial real estate space. A growing list of top tier banks, private equity funds, owner/operators, REITS, and advisors rely on CompStak.
Elligo Health Research ("Elligo"), a healthcare-enabling research organization powered by the novel IntElligo Research Stack technology, uses electronic health records and the trusted patient and physician relationship to ensure all patients have access to clinical research as a care option. Elligo directly engages physicians and patients who otherwise would not participate in clinical research and accelerate the development of new pharmaceutical, biotechnology, and medical device and diagnostic products.
ValGenesis, Inc. (“ValGenesis”) is the market leader in Enterprise Validation Lifecycle Management Systems (VLMS) and first-mover to digitize the validation lifecycle process. ValGenesis VLMS is the industry's first, proven, 100% end-to-end paperless validation lifecycle management solution, trusted by global life science organizations as a system of record for validation. Covering the entire validation lifecycle process, ValGenesis VLMS delivers technology solutions that are validated, fully configurable, and rapidly deployable through a private secured Cloud.
The Lifetime Value Co. ("LTV") is an information services technology platform comprising a portfolio of brands that provide easy access to information to help make all of life’s decisions, big and small. LTV’s brands include best-in-class web-based and mobile products that put the power of data into the hands of customers. Millions of people trust LTV for insight into people, properties, businesses, and vehicles. LTV is powered by its global team of 150 employees.
Founded in 2011 and based in San Diego, California, Classy, Inc. provides fundraising software to nonprofit organizations and social enterprises. The Company’s software platform includes a fundraising suite that offers various modules such as campaign management, customer relationship management, automated engagement and reporting / analytics.
Founded in 2013 and based in San Francisco, CA, Chairish, Inc. is a leading online marketplace for resale vintage and pre-owned furniture, décor and art. The Company holds no inventory, curates for style and quality, and focuses on professional sellers (e.g., dealers, stores, designers, etc.).
Medsphere Systems Corporation is a Carlsbad, CA-based provider of healthcare IT solutions, including electronic health record, practice management and revenue cycle management solutions. The company serves small / medium sized inpatient, ambulatory centers and physician practices within the acute care, outpatient and behavioral health markets.
Neo4j, Inc. was founded in 2007 by Emil Eifrem and is based in San Mateo, California. In addition to its US presence, the company has a large technical development center based in Malmo, Sweden. The company pioneered the Graph Platform in the Database Management System (“DBMS”) software market. DBMS is software that enables enterprises to create, retrieve, update and manage distributed, unstructured and complex data in a real time manner. The Graph Platform offered by Neo4j enables solutions that are faster and require less code than traditional databases.
Cohesity, headquartered in Santa Clara, California, is the industry-leading platform for hyperconverged secondary storage solutions. The company was founded by Mohit Aron, the co-founder and former CTO of Nutanix, to provide secondary storage solutions to enterprises for the consolidation, protection and sharing of non-mission critical data assets. Cohesity was founded in 2013, currently has over 500 employees, and has quickly gained scale through innovative products and strong technical leadership.
Founded in 2013 and headquartered in San Francisco, California, Instapage is a leading SaaS provider of website performance optimization solutions which enable unique customization to visitors through easy to build website landing pages and associated performance monitoring and analytic offerings. Using Instapage’s software, customers can reduce their customer acquisition costs and achieve meaningful improvement in “post-click” workflow processes and efficiencies.
Concentra is a UK-based business that offers SaaS solutions for advanced analytics, data visualization and scenario modelling for Human Resources (“HR”), organization design and workforce planning. Its flagship product, OrgVue, provides enterprises improved organization design visualization tools to measure and analyze workforce changes. Concentra’s emerging software solution, SupplyVue, offers supply chain analytics to gain visibility across the entire supply chain.
Sprout, based in Montvale, New Jersey, is a producer of baby food, toddler purees and “All Family” products, which include up-age pouches and other snacks. Sprout has more than 50 organic offerings that use only high quality organic ingredients. Sprout’s products are distributed across the grocery, mass market, natural/specialty, and e-commerce verticals.
Mondee, based in Foster City, California, is an airline ticket consolidator that manages and markets negotiated contracts with airlines at discounted pricing to publicly published rates. The Company manages thousands of contracts with approximately 450 different airlines for 77,000+ discrete routes.
Tiff’s Treats makes and delivers classic, baked-to-order cookies and brownies straight from the oven to the home or office, warm, in about an hour. Founded in 1999, what started as two friends baking cookies at University of Texas at Austin to help fellow students get through exams has now grown to over 30 stores in Texas and Georgia, with more than 700 employees, baking more than 80 million cookies since its inception.
A leading online marketplace for voiceover talent and other audio products and services.
Eska Water is a Canadian bottler, seller and distributor of carbonated, flavored and flat spring water.
MotionPoint is a leading provider of website localization services to Fortune 1000 companies.
A leading online retailer of specialized and technical products in the outdoor, optical and laboratory categories.
RocketLawyer is an online legal destination website for individuals and small businesses.
Software-as-a-Service (SaaS) provider of voice and text connectivity products and solutions to small- and medium-sized businesses, not-for-profit organizations and political agencies.
Digital Clinical Research Organization offering technology-driven clinical trial services to biopharmaceutical and medical device companies conducting Phase 1-4 clinical trials and registries.
Founded in 2010 and headquartered in Marina Del Rey, CA, SmartyPants produces premium all-in-one multi-vitamins in a variety of formats for children and adults.
Designs, develops, and markets business application solutions.
A leading developer of consumer products and content for children specifically focused on delivering superior educational content through its Nabi devices.
Provides small- and medium-sized businesses integrated electronic document management solutions through on-premise software and Software-as-a-Service product offerings.
HighQ is a London-based provider of Software-as-a-Service enterprise software products including secure file sharing, project management and collaboration tools for professional service organizations.
Domiciled in Israel with U.S. headquarters in Cary, North Carolina, Doron Gordon founded Samanage Ltd. in 2008. The company is a leading public cloud SaaS provider of IT service management (“ITSM”) software for medium-sized companies. Samanage’s cloud software provides a comprehensive solution for its customers, offering a centralized location for employees to submit various requests and for agents to manage workflow across functional departments for multiple ticketing use cases.
Provider of cervical and lumbar artificial discs used in total disc replacement surgery.
Provider of antennas and radio frequency chips to the mobile and Wi-Fi/Set-Top Box OEM market.
Global Custom Commerce, Inc. is the largest North American online retailer of customized window coverings such as blinds, shades, draperies and wallpaper.
Plateau Systems is an enterprise learning management software platform. Acquired by Successfactors, acquired by SAP (NYSE:SAP).
Arcadian Management provides Medicare Advantage to underserved markets. Acquired by Humana (NYSE:HUM).
Business-to-business e-commerce company focused on petroleum services and equipment.
PeopleClick provides human capital management software. Acquired by Authoria.
Biotechnology company focused on neurological disorders. Acquired by US WorldMeds.
SPSS provides statistical data analysis software. (NASDAQ:SPSS), acquired by IBM (NYSE:IBM).
Provider of software for project-driven companies and departments.
Business-to-business marketplace for chemical companies. Acquired by ICE.
Immobilien Scout is a German real estate portal. Acquired by Scout24 Schweiz AG (Deutsche Telekom (DB:DTE)).
Tarari creates content inspection and acceleration solutions to improve network and application performance. Acquired by LSI Logic (NYSE:LSI).
BenefitMall provides online benefits and health insurance. Acquired by Allied Capital Corporation (NYSE:ALD).
Ciphergen Biosystems (NASDAQ:CIPH) provides proteomics analysis tools.
Comergent is an enterprise suite of modular eBusiness applications that improve the efficiency and effectiveness of the selling process. Acquired by Sterling Commerce, a subsidiary of AT&T, (NYSE:T).
Provider of a minimally invasive tissue biopsy device. Acquired by Hologic, (NASDAQ:HOLX).
Bowstreet was a leading provider of portal-based tools and technology. Acquired by IBM (NYSE:IBM).
Control Delivery Systems provides drug delivery systems. Acquired by pSivida (NASDAQ:PSDV).
Creates web-based content, tools and services for the education market.
Persistence Software provides dynamic caching and transactional servers for e-commerce. (NASDAQ:PRSW), acquired by Progress Software (NASDAQ:PRGS).
U.S. Healthworks provides workers' compensation health services.
European IT services and consulting firm.
Allscripts (NASDAQ:MDRX) develops internet and client/server medication management solutions.
Provider of laser-programmable gate arrays.
An early stage networking semiconductor company.
Intuitive Surgical (NASDAQ:ISRG) develops minimally invasive surgery systems.
Provider of detail-critical business processes, including translation, online marketing, global content management and application testing solutions, which ensure global brand consistency, local relevancy and technical usability across all touch points of the customer lifecycle.
Builder of mobile internet businesses.
A wireless data communications company.
Develops DEC VAX applications software.
Frontstep is an enterprise resource planning software provider. Acquired by Mapics, (NASDA:MAPX).
Internet navigation system company.
Business-to-consumer/business-to-business e-commerce website for product and service queries.
A business-to-business marketplace focusing on small- to mid-sized businesses.
Business-to-business company focused on the design and construction market. Acquired by Autodesk.
Cardiac Pathways develops innovative solutions for cardiac and ablation catheters. Acquired by Boston Scientific, (NYSE:BSX).
Provides high-speed DSL internet access for the telecom industry
Manager of dental care practices.
PeopleFirst.com is a provider of online automobile insurance. Acquired by Capital One Financial Corp. (NASDAQ:COF).
Produces medical products that predict premature births.
E-commerce company focused on the shoe industry.
Telcom Semiconductor develops linear and mixed-signal semiconductor devices. (NASDAQ:TLCM), acquired by Microchip Technology (NASDAQ:MCHP).
Provides image management software. Now ScanSoft (NASDAQ:SSFT).
Anasazi provides central reservations software and services. Acquired by REZsolutions, now Pegasus (NASDAQ:PEGS).
Develops customer relationship management software. Acquired by The Baan Co. (NASDAQ:BAAN), previously (NASDAQ:AURM).
Cambridge Heart (NASDAQ:CAMH) researches and develops cardiac diagnostic products.
CSG Systems (NASDAQ:CSGS) provides billing and customer care software for the communications industry.
Cytyc (NASDAQ:CYTC) develops diagnostic systems for cervical cancer screening.
Enterprise Systems develops healthcare management software. Acquired by McKesson now McKessonHBOC, (NYSE:MCK).
Managed Health Network provides mental health management services. Acquired by FHS, now Health Net (NYSE:HNT).
Produces small peptide therapeutics to treat pain.
Quintiles Transnational (NYSE:Q)is a leading global contract research organization.
Client-server online transactions processing applications development software
Provider of case tools for IBM mainframes.
Develops advanced PC graphics systems.
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Makes privately negotiated later-stage investments in technology, health care, consumer, and other sectors.
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Makes privately negotiated later-stage investments in technology, health care, consumer, and other sectors. |
As of 10/30/2021. Team and portfolio information may change from time to time.
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