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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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.
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.
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.
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 2002 and based in San Jose, California, cPacket Networks, Inc. is a provider of high-speed network performance monitoring and security solutions. The Company’s custom ASIC and FPGA-powered systems and software enables their customers to enjoy greater control, visibility, and performance within complex networking environments operating at the highest speeds currently deployed.
Alternative Behavior Strategies, Inc. was founded in 2011 and is based in Salt Lake City, Utah. The Company offers Applied Behavior Analysis (ABA) therapy in the home, as well as other services such as speech and occupational therapy in clinic settings. The Company’s primary ABA therapy services are provided by an in-house workforce consisting of over 50 Board Certified Behavior Analysts (BCBAs) and over 375 part-time Behavior Interventionists (BIs), treating patients in Utah, North Carolina and California.
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.
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.
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.
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.
Quentic (formerly EcoIntense GmbH) provides environmental, health and safety software solutions for businesses to drive down costs and maximize performance.
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.
Provides life science tools and develops molecular diagnostics.
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.
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.
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 antennas and radio frequency chips to the mobile and Wi-Fi/Set-Top Box OEM market.
A leading provider of innovative cell-based assays and services for drug discovery and development.
Develops unified communication and mobile collaboration solutions.
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).
E2open (NASDAQ:EOPN) is a global computer, electronics and telecommunications e-marketplace.
Provides ultrasound accelerated drug delivery catheters for rapid dissolution of blood clots. Acquired by BTG plc, (LSE:BTG).
Sendmail is an internet mail platform with leading infrastructure solutions. Acquired by Proofpoint, Inc. (NASDAQ:PFPT).
Developer of therapeutic agents.
Internap (NASDAQ:INAP) provides internet connectivity services.
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.
HealthStream (NASDAQ:HSTM) is a content management system for Internet-based continuing medical education.
HyPerformix provides predictive IT management. Acquired by CA Technologies (NASDAQ:CA).
PeopleClick provides human capital management software. Acquired by Authoria.
Biotechnology company focused on neurological disorders. Acquired by US WorldMeds.
Provides laser technology to manufacture active optical components.
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)).
Creates products and services in data networking technology for internet networks.
LoopNet is a commercial real estate listing service. (NASDAQ:LOOP)
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).
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).
Medsite creates educational and promotional solutions for the healthcare industry. Acquired by WebMD, (Nasdaq:WBMD).
Develops radiofrequency ablation devices for minimally invasive cancer treatment. (NASDAQ:RITA), since acquired by AngioDynamics (NASDQ:ANGO).
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).
Cross Country Staffing (NASDAQ:CCRN) provides healthcare staffing services.
An application service provider (ASP) for enterprise software solutions.
FormFactor (NASDAQ:FORM) develops wafer-level test and packaging solutions for the semiconductor industry.
Develops nitric oxide enhanced medicines. (NASDAQ:NTMD).
European IT services and consulting firm.
Allscripts (NASDAQ:MDRX) develops internet and client/server medication management solutions.
Provider of laser-programmable gate arrays.
Intuitive Surgical (NASDAQ:ISRG) develops minimally invasive surgery systems.
Builder of mobile internet businesses.
Provides corporate IP services in Italy.
The Medicines Company (NASDAQ:MDCO) is an outsourced drug development company.
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.
Provides high-speed DSL internet access for the telecom industry
Manager of dental care practices.
IntegraMed America (NASDAQ:INMD) is a leading provider of infertility services.
Provides datacom consulting and web-based training and support
Creates document and workflow management systems.
PeopleFirst.com is a provider of online automobile insurance. Acquired by Capital One Financial Corp. (NASDAQ:COF).
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.
Provides real estate information on the internet.
Microgenics Holding Corporation provides diagnostics for drug testing. Acquired by Sybron (NYSE:SYB).
Develops network management software.
Develops customer relationship management software. Acquired by The Baan Co. (NASDAQ:BAAN), previously (NASDAQ:AURM).
CSG Systems (NASDAQ:CSGS) provides billing and customer care software for the communications industry.
Milestone provides sub-acute hospital management services. Acquired by HCR ManorCare.
Provides security alarm systems and services.
Produces small peptide therapeutics to treat pain.
Quintiles Transnational (NYSE:Q)is a leading global contract research organization.
Sanmina (NASDAQ:SANM) provides contract manufacturing solutions.
Manager of child care centers and pre-school programs.
Provider of home infusion services.
Anasazi provides central reservations software and services. Acquired by REZsolutions, now Pegasus (NASDAQ:PEGS).
Information provider for the internet economy.
Strategy Name | Description |
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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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CRC# 1889570 Expiration Date: 10/1/2018