Center Stage with CohnReznick: Weave Growth Partners
The independent sponsor community is growing in size and relevance. Independent sponsors face a variety of unique challenges including sourcing transactions, raising capital, and maximizing the value of their investments. In our experience, we’ve noticed that successful independent sponsors meet unique challenges with unique solutions. Center Stage with CohnReznick is a program designed to elevate members of the independent sponsor community for their achievements, contributions, and their unique approach to achieving their goals.
This month we’re featuring Weave Growth Partners.
ABOUT WEAVE GROWTH PARTNERS (WEAVE)
Years in business
- 2 years
Number of Investments
Typical size of investments
- Buy-out and Minority equity
- Business Services, E-Commerce, Human Capital Management, and Financial Services
Q&A WITH VINAY BACHIREDDY, FOUNDING PARTNER
What motivated you strike out on your own as an independent sponsor?
I wanted to pursue investing in a non-hierarchical and more entrepreneurial environment. As an entrepreneur, you have more flexibility and are able to do things differently.
What advice do you have for those who are just getting started?
Find great partners. I am fortunate to have Vishy Venugopalan and Austin Neudecker as Partners at Weave. We get along and trust each other, which is the most important thing. We also bring complementary skill sets and experiences to the table, which has an enormously positive impact on how we work and the decisions we make.
To date, what has been one of your greatest break-through moments?
Closing our first deal in January 2021 has to be our greatest break-through moment. It was a special moment and, until you close your first deal, there’s always a bit of uncertainty. Fast forward one year later and we now have three portfolio companies. With the momentum from 2021, we feel better than ever about our model.
When compared to other investors, what do you consider your key differentiators?
We have deep experience as entrepreneurs and operators. We bring technology and Silicon Valley practices to bear on every investment we make. We help business owners and companies thrive in this digital age.
What are some of the best reasons that capital providers should be attracted to you?
At Weave, we bring Silicon Valley to the middle market. So, as a capital provider, Weave is a play on the digitization of the economy grounded in the steady and attractive returns of middle market private equity.
What are your greatest challenges right now?
We are ambitious in how we want to scale Weave over the next few years, so our greatest challenge is really finding more hours in the day.
What are some of the things you love about being an independent sponsor?
As an independent sponsor, we have autonomy and flexibility, which enables us to be opportunistic and move quickly on deals. We also have the ability to experiment and try new things. Stay tuned for more from us in 2022!
Favorite ice cream flavor
- Cookies and Cream
- Wine and cheese
Name of your first or current pet
- Love dogs, but never had one!
- Back to the Future
Best business book
- Warren Buffett’s Shareholder Letters
Best vacation spot
- Applebee’s Fish in London
Favorite charitable organization
- AAMA (Association for the Advancement of Mexican Americans) runs a charter school in Houston, where I volunteered for a number of years, so it’ll always have a special place in my heart.
Best concert you ever saw
- Kanye West
Favorite beverage (adult or otherwise)
- Japanese whiskeys, particularly Yamazaki and Hibiki
Most surprising thing about you that nobody would guess
- I lived in Nairobi, Kenya for 2 years!
InsightIndependent sponsors forum: A video seriesClaudine Cohen interviews independent sponsors, capital providers, and market movers who share their insights and strategies to optimize performance.
InsightCenter Stage with CohnReznick: Hullson PartnersGet to know Sam Henderson and Michael Hullings as they share insights as members of the independent sponsor community.
InsightESG in alternative investments: Perspectives on aligning interests, reporting, and building a true ESG commitmentRead perspectives on reporting, aligning investor-manager interests, and building a true commitment to environmental, social, and governance (ESG) issues.
InsightCenter Stage with CohnReznick: Pacific General HoldingsGet to know Matthew Yoon and Jeffrey Smith as they share insights as members of the independent sponsor community.
InsightPrivate Equity: Illustrative Financial StatementsThese illustrative financial statements, produced by CohnReznick, provide examples of private equity financial statements.
InsightCenter Stage with CohnReznick: Turning Rock PartnersGet to know David Markus of Turning Rock Partners as he shares insights as a member of the independent sponsor community.
InsightTop deal killers for independent sponsorsClaudine CohenInterest from capital providers doesn’t equate with successfully closing a deal. Read how to avoid common deal pitfalls in diligence, timing, and more.