Palisades Growth Capital, a growth equity investment firm based in Los Angeles, today announced that it has sold its ownership interest in its portfolio company Docupace, the leading independent provider of cloud-based digital operations software for the wealth management industry, to FTV Capital. Financial terms of the transaction were not disclosed.
Mark Tapling, CEO of Docupace, commented, “It was a pleasure to work with Palisades Growth, whose guidance and capital helped enhance the intrinsic value of our business. They were impactful in supporting our strategic vision and by recruiting management talent that has led to this compelling outcome for all.”
Paul D’Addario, Co-Managing Partner of Palisades Growth, stated, “We are very proud of our successful investment in Docupace. Under the leadership of Mark Tapling and through our successful partnership with Jeb Spencer, Managing Partner of TVC Capital, together achieved our shared vision of creating the leading platform of its type for the wealth management industry. We wish the team continued success.”
Raymond James & Associates, Inc. acted as exclusive financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian acted as legal counsel to Docupace.