摩根士丹利基金管理(中国)有限公司 |
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.
The Expansion Platform specializes in making equity and credit investments via a single platform 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. Our capital is intended to serve as a company’s last required round of financing before they become profitable or exit.
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 $20 million - $60 million per transaction across either equity or credit but there may be additional size flexibility through syndicate and co-investor relationships. On the equity side, our platform affords us the flexibility to evaluate a variety of opportunity types, including first institutional situations, growth carve-outs, non-auction follow-ons, and founder / employee liquidity. On the credit side, our long-term interest-only senior secured structure allows us to provide companies with an attractive substitute for traditional growth equity capital while providing Expansion Credit with ample enterprise value coverage. 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 investments 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 afford 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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NovoPayment is a vertical-focused SaaS that enables banks, financial institutions, neo-banks, digital merchants, and fintech’s to offer intuitive digital financial and payment services, improving customer experiences and operational margins
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Spinal Simplicity is a medical technology company focused on minimally invasive spinal and orthopedic implants. The company’s core technologies enable physicians to treat patients earlier in the lower back pain care continuum, compared to more invasive, competitive solutions.
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Urban Plates began in 2011 when founders Saad Nadhir and John Zagara opened a single restaurant in Del Mar, CA. Headquartered in Solana Beach, CA, the restaurant brand has locations throughout San Diego, Orange County, the greater Los Angeles area, and Northern California. Urban Plates' expansive selection of menu items are made fresh in-house, from scratch, every day using clean, organic all the time ingredients.
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.
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Dealpath provides deal management software for the real estate industry serving real estate investors, investment managers, property developers / owners, REITs, and other corporations. The company’s platform is designed to manage all aspects of the deal process allowing users to centralize and standardize deal data, automate workflows and eliminate manual processes, and enhance collaboration both within and across organizations.
Van Leeuwen Ice Cream was launched out of a buttery yellow ice cream truck in 2008 by Laura O’Neill and brothers Ben and Pete Van Leeuwen. The trio set out to revive the classic American ice cream truck, using exceptional ingredients and techniques. In just a decade, the beloved Brooklyn-based company has grown to include scoop shops and trucks across NYC and LA and sells pints in over 2000 stores across the country, including Whole Foods Market, Sprouts, Safeway, Kings.
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Scale Computing is a leader in edge computing, virtualization, and hyperconverged solutions. Scale Computing software eliminates the need for traditional virtualization software, disaster recovery software, servers, and shared storage, replacing these with a fully integrated, highly available system for running applications. Using patented HyperCore™ technology, the self-healing platform automatically identifies, mitigates, and corrects infrastructure problems in real-time, enabling applications to achieve maximum uptime. When ease-of-use, high availability, and TCO matter, Scale Computing is the ideal infrastructure platform.
PowerToFly is an end-to-end diversity, equity, and inclusion human resources technology solution focused on talent attraction, acquisition, and retention of underrepresented talent. Through a single, unified platform, the Company provides employers with a solution for talent acquisition, hiring, upskilling, and retention, and candidates with free access to job events/boards and educational job resources such as mentorship and training.
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.
Conversica is a leading provider of Conversational AI solutions, uniquely focused on revenue growth. Conversica helps enterprise marketing, sales, and customer success teams attract, acquire and grow customers at scale across the entire customer revenue lifecycle. Conversica AI Assistants serve as digital team members and autonomously engage prospects, existing customers, or partners in human-like, two-way interactions at scale to drive towards the next best action, whether that’s scheduling a sales meeting, or gauging interest to buy additional products or services.
Gozio Health offers an end-to-end, customizable digital health platform exclusively for healthcare systems. Gozio’s extensible mobile platform enables seamless consumer interactions and provides an anytime, anywhere connection to patients that improves their overall experience and access to care. Popular patient engagement features include patented indoor wayfinding with turn-by-turn navigation, virtual visits, physician directories, appointment scheduling, access to electronic health records, Urgent Care and Emergency Department wait-times, and extensive analytics capabilities. Gozio customers surveyed in a 2021 KLAS Research Emerging Technology Spotlight report found 100% satisfaction and improved experience for patients and staff.
Phrasee revolutionizes customer experiences by optimizing the language brands use across the full customer journey. Its AI-powered SaaS platform brings together natural language generation, machine learning and dynamic optimization, making Phrasee the only provider of its kind to generate, optimize, automate, and analyze language in real time. Phrasee boosts customer engagement and increases lifetime value for the world's leading B2C brands – including Domino's, eBay, FARFETCH, Groupon, Party City and Walgreens – all while adhering to companies' unique brand standards and voice. Today, over 1 billion people across four continents have responded to Phrasee-generated language.
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.
ComplianceMetric ("CMX") is a tech startup that provides a platform to enable companies to gain control and transparency over their supply chains. Leading brands trust CMX's cloud-based Enterprise Quality Management Software (EQMS) CMX1 to help them achieve and maintain Operational and Quality Excellence. For over a decade, CMX has led the market with the most comprehensive, user-friendly, cloud-based EQMS platform for food and consumer brands. It’s the only enterprise solution to effectively combine supply chain quality and operational excellence into a single, fully configurable operating platform.
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.
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airSlate provides a suite of cloud-based forms editing, eSignature and workflow software. The company’s forms editing software enables SMB customers to produce PDF documents ranging from W-2 forms, to I-9 forms, and HR onboarding forms (over 10,000 forms in their library today), edit documents, and then send for eSignature; airSlate’s newest product allows customers to design custom workflows to automate an entire document from production to eSignature. Use cases range from real estate transactions to civil disagreements, clinical workflows, and B2B software deals.
OpsRamp was founded in 2014 and is based in San Jose, California. The company provides cloud-based IT operations management SaaS solutions for observability of infrastructure, application, and network performance metrics. OpsRamp’s solution is horizontal, with broad applicability across a number of enterprise end-markets, including the Life Sciences, Information Technology, Financial Services, and Telecommunications industries.
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San Jose, CA-based provider of high-speed network performance monitoring and security solutions
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.
Integral Development Corp. is a financial technology company that helps its customers, including banks, retail brokers, and asset managers, outperform their competition in the foreign exchange (FX) market through innovative solutions for workflow management and advanced execution. Founded in 1993 and based in Palo Alto, CA, Integral maintains development, support, and sales offices in Palo Alto, New York, London, Tokyo, Singapore and Bangalore.
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.
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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.
VizExplorer is a business intelligence software company headquartered in San Diego, California. Via its proprietary visualization technology, the company offers operational intelligence solutions to enterprise customers within the regulated, land-based gaming and entertainment verticals to provide gaming floor optimization, visitor behavior analytics and customer marketing.
Elevate provides outsourced legal services to law firms and corporate legal departments in the United States and internationally. The Company was founded in 2011 and is headquartered in Los Angeles, California, with its consultants, lawyers, and technologists based in the United States, Canada, United Kingdom, Continental Europe, India, the Philippines, and Australia.
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.
GumGum is a digital media company with proprietary visual intelligence technology used to analyze images and videos.
A leading online retailer of specialized and technical products in the outdoor, optical and laboratory categories.
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.
VBrick Systems produces video streaming and content management solutions.
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.).
Pluribus Networks delivers highly scalable, automated and cost-efficient data center network solutions based on the principles of disaggregation and controllerless SDN automation. The Linux-based Netvisor® ONE operating system and the Adaptive Cloud Fabric™ controllerless SDN software have been purposely built to deliver radically automated networking along with superior economics by leveraging white box switches including Pluribus’ own Freedom™ Series of switches. The Adaptive Cloud Fabric controllerless SDN architecture is optimized to deliver a modern network fabric underlay and overlay across data center sites to support distributed cloud with rich services, automated operations, intrinsic security, comprehensive visibility and no single point of failure. Pluribus is deployed by more than 350 customers, including more than 100 tier one mobile network operators, in mission critical networks around the globe.
RocketLawyer is an online legal destination website for individuals and small businesses.
Founded in 2009 and based in Encinitas, CA, Ecwid is a leading provider of platform-independent, ecommerce enablement solutions for small businesses (“SMB”). Ecwid’s SaaS platform allows SMB customers to quickly and seamlessly incorporate a fully-featured online storefront to their existing website.
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.
MotionPoint is a leading provider of website localization services to Fortune 1000 companies.
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Designs, develops, and markets business application solutions.
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Provides small- and medium-sized businesses integrated electronic document management solutions through on-premise software and Software-as-a-Service product offerings.
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Provides life science tools and develops molecular diagnostics.
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Vigilant is a provider of license plate and facial recognition products and solutions.
Provider of cloud-managed enterprise WiFi solutions to large- and medium-sized enterprises, higher education and primary schools.
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.
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A leading provider of innovative cell-based assays and services for drug discovery and development.
Quentic (formerly EcoIntense GmbH) provides environmental, health and safety software solutions for businesses to drive down costs and maximize performance.
Core Security creates security software for enterprise vulnerability assessment. Acquired by Courion.
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Plateau Systems is an enterprise learning management software platform. Acquired by Successfactors, acquired by SAP (NYSE:SAP).