Investment will support product expansion in core and adjacent markets
Newport Beach, CA, February 15, 2023 – L Squared Capital Partners (“L Squared”) is excited to announce today that it has made a significant growth investment in Foundant Technologies (“Foundant”), a leading provider of mission-critical software solutions for the philanthropic sector. The company provides a suite of purpose-built, comprehensive software solutions that allow philanthropists to simplify their daily operations and have a greater impact on their communities.
“Foundant has been at the forefront of the technology-driven transformation of the philanthropic sector,” said Adam Kimura, a Partner at L Squared. “We are excited to invest in a company that is not only driving this transformation but also helping to maximize the impact of the philanthropic community. Their innovative solutions are well-positioned to meet the growing demands of the industry, and we look forward to working with the talented team at Foundant to help them achieve their goals.”
“We are thrilled to have L Squared Capital Partners as a strategic partner,” said Chris Dahl, CEO of Foundant. “Their expertise in scaling growth companies and deep understanding of our market will be invaluable as we continue to expand our platform and reach more organizations in need of our solutions.”
As part of the investment, co-founders Mark Larimer and Daren Nordhagen will join the company’s board of directors. “I am excited to be joining the board and working with L Squared to help drive the next phase of growth for Foundant,” said Mark Larimer. Daren Nordhagen added, “This investment will allow us to continue to innovate and expand our offerings, reaching even more organizations and individuals who are passionate about making a positive impact in their communities.”
Foundant was advised by William Blair & Company (financial advisor) and Dorsey & Whitney (legal advisor). L Squared was advised by Canaccord Genuity (financial advisor) and Vedder Price (legal counsel).
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About L Squared Capital Partners
L Squared Capital Partners is an investment firm headquartered in Newport Beach, CA, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Tech-Enabled Services & Software, Education Technology, and Industrial Technology & Services. Our unique investor base of family offices enables us to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over a decade and have over 100 years of combined experience investing in growing private companies. For additional information, please visit www.LSquaredCap.com.
Foundant Technologies has specialized in making philanthropy easier and more impactful through innovative software solutions and exceptional client experiences since 2007. Passionate about philanthropy, Foundant’s team is dedicated to meeting the unique needs of grantmakers, scholarship providers, community foundations, and nonprofits to enable change-makers to make the world a better place for all. For additional information, please visit www.foundant.com.
Provided for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase of any investment. Investing with any investment firm is suitable only for qualified investors who fully understand the risks of such an investment. L Squared Capital Partners are investment advisers registered with the United States Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Investments with L Squared Capital Partners are only offered in accordance with applicable securities laws.