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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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.
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.
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.
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.
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.
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.
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.
A leading online marketplace for voiceover talent and other audio products and services.
Quentic (formerly EcoIntense GmbH) provides environmental, health and safety software solutions for businesses to drive down costs and maximize performance.
GumGum is a digital media company with proprietary visual intelligence technology used to analyze images and videos.
MotionPoint is a leading provider of website localization services to Fortune 1000 companies.
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.
Provides life science tools and develops molecular diagnostics.
VBrick Systems produces video streaming and content management solutions.
Lightbend provides an opensource platform for building reactive applications for the JVM, consisting of the Play Framework, Akka middleware and Scala programming langua, with additional supporting products and development tools such as the Slick database library for Scala and the sbt build tool. Lightbend also provides training, consulting and commercial support on the platform.
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.
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.
Provides small- and medium-sized businesses integrated electronic document management solutions through on-premise software and Software-as-a-Service product offerings.
XSInc provides e-commerce and data management solutions for the life science and agricultural industries.
A leading provider of innovative cell-based assays and services for drug discovery and development.
Socialware, Inc., based is Austin, TX, is an enterprise Software as a Service provider of enabling regulatory compliant communications utilizing social networking platforms such as LinkedIn, Facebook and Twitter.
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).
Developer of therapeutic agents.
Internap (NASDAQ:INAP) provides internet connectivity services.
Arcadian Management provides Medicare Advantage to underserved markets. Acquired by Humana (NYSE:HUM).
Perceptive Software provides document imaging and workflow software. Acquired by Lexmark International, Inc. (NYSE:LXK).
SouthernCare is a provider of hospice services. Acquired by Kohlberg & Co.
Constant Contact (NASDAQ:CTCT) develops e-mail marketing solutions.
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.
Developer of equipment for medical device companies.
SPSS provides statistical data analysis software. (NASDAQ:SPSS), acquired by IBM (NYSE:IBM).
Business-to-business marketplace for chemical companies. Acquired by ICE.
Creates minimally invasive instruments for spine surgery. Acquired by Zimmer Holdings, Inc., (NYSE:ZMH).
Immobilien Scout is a German real estate portal. Acquired by Scout24 Schweiz AG (Deutsche Telekom (DB:DTE)).
Creates products and services in data networking technology for internet networks.
Tarari creates content inspection and acceleration solutions to improve network and application performance. Acquired by LSI Logic (NYSE:LSI).
Avamar provides backup and restore software and systems. Acquired by EMC Corporation (NYSE:EMC).
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).
Provides internet security management software and services. Acquired by British Telephone Group, (NYSE:BT).
Freightquote.com provides online business-to-business freight solutions.
Medsite creates educational and promotional solutions for the healthcare industry. Acquired by WebMD, (Nasdaq:WBMD).
Develops computer-aided diagnostic systems for use in radiology. Acquired by Hologic (NASDAQ:HOLX).
AireSpace develops wireless networking hardware. Acquired by Cisco (NASDAQ:CSCO).
Bowstreet was a leading provider of portal-based tools and technology. Acquired by IBM (NYSE:IBM).
Cross Country Staffing (NASDAQ:CCRN) provides healthcare staffing services.
An application service provider (ASP) for enterprise software solutions.
Creates web-based content, tools and services for the education market.
Develops nitric oxide enhanced medicines. (NASDAQ:NTMD).
Provider of laser-programmable gate arrays.
Evolving Systems (NASDAQ:EVOL) is a telecom software solutions vendor.
An early stage networking semiconductor company.
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.
Provides corporate IP services in Italy.
Develops DEC VAX applications software.
The Medicines Company (NASDAQ:MDCO) is an outsourced drug development company.
Provides patient transportation services.
Business-to-business company focused on the design and construction market. Acquired by Autodesk.
Provides high-speed DSL internet access for the telecom industry
Manager of dental care practices.
Provides IT services to middle-market/large enterprise customers.
PeopleFirst.com is a provider of online automobile insurance. Acquired by Capital One Financial Corp. (NASDAQ:COF).
Information provider for the internet economy.
Websense (NASDAQ:WBSN) provides internet usage management software.
Produces medical products that predict premature births.
A provider of software platforms for e-businesses. Acquired by BROKAT.
Commerce One (NASDAQ:CMRC) provides global e-commerce solutions.
E-commerce company focused on the shoe industry.
Develops digital control technology for electric motors.
Tallán is an e-Services provider. Acquired by CMGI (NASDAQ:CMGI)
Telcom Semiconductor develops linear and mixed-signal semiconductor devices. (NASDAQ:TLCM), acquired by Microchip Technology (NASDAQ:MCHP).
Provider of integrated healthcare information systems.
Developer of multimedia devices for PCs called MPACT! Acquired by ATI Technologies.
Develops software applications for use in plant lifecycle management.
Develops network management software.
Anasazi provides central reservations software and services. Acquired by REZsolutions, now Pegasus (NASDAQ:PEGS).
Produces small peptide therapeutics to treat pain.
Quintiles Transnational (NYSE:Q)is a leading global contract research organization.
Manager of child care centers and pre-school programs.
Provider of case tools for IBM mainframes.
Managed Health Network provides mental health management services. Acquired by FHS, now Health Net (NYSE:HNT).
Business-to-consumer/business-to-business e-commerce website for product and service queries.
Develops radiofrequency ablation devices for minimally invasive cancer treatment. (NASDAQ:RITA), since acquired by AngioDynamics (NASDQ:ANGO).
European IT services and consulting firm.
As of 10/30/2021. Team and portfolio information may change from time to time.
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