Terminus Capital Partners

What Terminus Capital Partners does

Terminus Capital Partners (TCP) is a growth-oriented private equity firm founded in 2017 and headquartered in Atlanta, Georgia. The firm invests exclusively in B2B software companies with $10-$50m+ in revenue, taking majority stakes and providing hands-on operational support through a dedicated operating team. TCP's senior team brings collectively more than 30 years and 100+ buyout transactions of enterprise software experience, and the firm emphasizes sector specialization, a proprietary sourcing engine, and a "true wealth-sharing" alignment model with portfolio management teams.

The firm's portfolio spans roughly 13 companies concentrated in financial services software and adjacent verticals: trade surveillance (Eventus Validus platform), insurance and annuity policy administration (Andesa Services), market research technology (Discuss, Voxco, Ascribe — combined under the Discuss brand), pooled investment fund administration (Delta Data), and debt management and collection software (Katabat, Simplicity Collect, FInvi, Phoenix Systems). Several portfolio companies incorporate machine learning and AI features — for example, Eventus's deterministic Frank AI surveillance assistant and Discuss's NLP platform that has processed tens of millions of pages of qualitative conversation. TCP also supports a buy-and-build strategy, evidenced by add-ons such as Katabat's acquisition of Simplicity Collect and Delta Data's acquisition of National Quality Review (NQR).

TCP generates revenue through management fees on its enterprise software investment vehicles (notably TAP Software Holdings) and through capital appreciation and exit returns on majority investments. Specific fees, carried interest, and fund size are not publicly disclosed. Deal flow is sourced through proprietary channels, long-standing investment banking relationships, and direct outreach to founders and CEOs, with the firm functioning as a high-conviction, sector-focused capital partner rather than a generalist financial sponsor.

Name

Terminus Capital Partners

Legal name

Terminus Capital Partners

Website

https://terminuscp.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Terminus Capital Partners is a 2017-founded Atlanta-based private equity firm making majority investments in B2B software companies with $10-$50m+ in revenue, leveraging deep sector expertise and an operating team to drive value creation.

Ownership category

akta.pro rank

Product category

Private Equity

NAICS

Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (52394)

SIC

Investors, Nec (6799)

akta.pro primary industry

Business Services (B2B) Growth Equity (FSANACAD)

akta.pro secondary industry

Technology & Software Growth Equity (FSANACAA)

Keywords

• B2B software private equity
• Majority growth investments
• Enterprise software buyouts
• Private equity firm
• Growth equity investing

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Management Fees: TAP Software Holdings, an enterprise software investment vehicle managed by Terminus Capital Partners, generates management fees from portfolio operations.
2. Portfolio Company Value Creation: Returns generated through majority investments in B2B software companies, driving operational improvements, product modernization, and strategic acquisitions to build durable category leadership and exit at higher valuations.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Terminus Capital Partners makes majority equity investments in B2B software companies generating $10-$50m+ in revenue, providing capital alongside hands-on operational support through a dedicated operating team. The firm invests in growth-oriented, EBITDA-positive software businesses with strong retention and executes a buy-and-build strategy using a transformative add-on M&A playbook. Revenue is generated via management fees on portfolio vehicles (such as TAP Software Holdings) and investment returns realized upon exit.

Product overview

Terminus Capital Partners is a private equity firm (not a product company) that makes majority investments in B2B software companies. The firm's portfolio consists of independent software platforms and products across financial services, compliance, and market research verticals. Key portfolio products include: Eventus's Validus platform (trade surveillance and multi-asset class compliance); Andesa Services (policy lifecycle administration for insurance/annuities in Advanced Markets); Discuss and Voxco (combined market research and insights platforms with AI capabilities); Delta Data (pooled fund administration software processing trillions in assets); Katabat and Simplicity Collect (debt collection and management software); and NQR (shareholder servicing benchmarking services). These products operate independently with their own feature sets, customer bases, and technology stacks.

Differentiator

Problem solved

Functional benefit

Products and services

• Majority Equity Investments in B2B Software Growth-oriented majority equity capital investments in B2B software companies generating $10-$50m+ in revenue, paired with hands-on operational support from a dedicated in-house operating team. Investments are made through vehicles such as TAP Software Holdings and target companies with positive growth, 90%+ retention, and EBITDA-positive or focused profiles.
• Portfolio Operational Support Services Hands-on operational support delivered by a dedicated in-house operating team covering organizational design, process optimization, recruiting, QA, SaaS operations, product architecture, software engineering, and GTM functions. Provided to majority-owned portfolio companies to drive sustainable, long-term value creation.
• Transformative Add-On Acquisition Playbook Methodology and execution support for strategic add-on acquisitions by portfolio companies, including target sourcing, due diligence, integration, and synergy realization to build durable category leadership through inorganic growth.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Cameron RouthcoreOthers · 8 May 2026Cameron Routh appointed as CEO of Eventus, succeeding founder Travis Schwab. Routh brings over 20 years of fintech leadership experience, most recently serving as CEO of Delta Data.
• ButcherJoseph & Co.minorOthers · 26 March 2026Served as financial advisor to Andesa Services for the transaction with Terminus Capital Partners.
• Levenfeld Pearlstein, LLCminorOthers · 26 March 2026Served as legal advisor to Andesa Services for the transaction with Terminus Capital Partners.
• KeyBanc Capital MarketsminorOthers · 26 March 2026Served as financial advisor to Terminus Capital Partners for the Andesa investment.
• DA DavidsonminorOthers · 26 February 2026Served as financial advisor to Terminus Capital Partners for the Eventus investment.
• Jones & SprossminorOthers · 26 February 2026Served as legal counsel to Terminus Capital Partners for the Eventus investment.
• BroadhavenminorOthers · 26 February 2026Served as investment banker to Eventus for the transaction with Terminus Capital Partners.
• Wilson SonsiniminorOthers · 26 February 2026Served as legal advisor to Eventus for the transaction with Terminus Capital Partners.
• Canaccord GenuityminorOthers · 13 November 2025Global investment bank acted as exclusive financial advisor to Discuss in the merger with Voxco.
• Raymond James & AssociatesminorOthers · 1 March 2023Served as exclusive financial advisor to Voxco in connection with the majority growth equity investment from Terminus Capital Partners.
• Stikeman Elliott and BakerHostetlerminorOthers · 1 March 2023Served as legal advisors to Voxco for the transaction with Terminus Capital Partners.
• Jones & Spross PLLC and Aird & Berlis LLPminorOthers · 1 March 2023Served as advisors to Terminus Capital Partners for the Voxco acquisition.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Thoma Bravo: Largest dedicated software-focused private equity firm; operates at much larger scale than TCP but represents the institutional incumbent TCP's portfolio companies may eventually exit to.
• Insight Partners: Global software-focused growth equity and venture capital firm; operates at larger scale but invests in similar B2B software targets, often competing with TCP for sub-$100m revenue opportunities.
• Marlin Equity Partners: Larger technology-focused private equity firm investing across software, services, and tech-enabled businesses globally; John Ale previously worked on the investment team, representing a broader incumbent in the same sector.
• Vista Equity Partners: Largest software-focused PE firm globally with dedicated operating model; represents the upper-bound incumbent whose playbook TCP's operating team approach mirrors at smaller scale.

Direct peers

• JMI Equity: Growth equity firm investing in B2B software and vertical SaaS companies at similar revenue scale; directly comparable investment thesis and target company profile to TCP.
• Francisco Partners: Technology-focused private equity firm investing exclusively in B2B software and technology-enabled services; Kerry Edwards worked at Francisco Partners prior to TCP, indicating direct pedigree overlap.
• Noro-Moseley Partners: Atlanta-based growth equity firm investing in early-growth B2B software and tech-enabled services; John Ale was previously a General Partner there, sharing TCP's geographic and sector DNA.
• Mainsail Partners: Growth equity firm focused on B2B software companies, typically with $5-50m in revenue; highly comparable investment criteria, target size, and operating model to TCP.
• Sunstone Partners: Growth equity firm focused on B2B software and tech-enabled services; Matthew Weinstein was previously Controller there, indicating overlapping investment philosophy and operating approach.
• Tritium Partners: Growth-focused private equity firm investing in fintech and financial services; co-invested with TCP on Katabat, making it the most directly comparable peer given similar vertical focus and check size.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/terminus-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Terminus Capital Partners