Sorenson Capital

Five Elms Capital is the ideal partner for leading B2B software companies. Since firm inception in 2007, we have focused exclusively on software investing, building an unmatched network and deep domain expertise. Today, with over $2.4 billion in assets under management and a global team of over 70 investment professionals, we have invested in more than 65 software platforms globally. We invest $10-150+ million in companies with $2-20 million in revenues - minority or majority investments, growth capital, or liquidity for founders and early investors. Ideal partner for founders We specialize in partnering with founder-owned, bootstrapped businesses, working alongside management to accelerate growth and continue to build industry leading businesses. We take partnerships seriously and will work our tails off to help you succeed, but never take ourselves too seriously. Our relaxed, open, and honest working style is one of the reasons we've been successful earning founders' trust and a seat at the table in profitable businesses where additional capital is optional. Anti-Valley approach We love billion dollar outcomes just as much as everyone else, but don't believe in "unicorn or bust". We don't push companies to grow at all costs or raise mega rounds of capital - that mindset increases founder dilution and reduces the landscape of exit scenarios where everyone wins. We like managers to have both significant equity stakes and significant option value as to what outcomes can be a win. B2B Focus We exclusively invest in B2B software companies. This specialization has helped us build an unmatched network and deep domain expertise. Founders can supplement their industry knowledge with our experience in helping accelerate growth, overcoming positive and consistent challenges tied to scale, and de-risking the path to a successful exit for all stakeholders. Resources and value-add Our firm and Operations Support Team has been purpose-built to optimize key functions in a bootstrapped organization (e.g., sales, marketing, finance, recruiting). Our goal is to provide you the resources and expertise to supplement your already successful organization and to assist in more rapidly achieving organizational goals. Culture is crucial Our best performing companies are obsessed with company culture - it's crucial to their success. We have a very simple playbook… great products + great people = great outcomes We hustle Much like the companies we back, we aren't the incumbent behemoth in our industry - we try harder.

The network, expertise and resources you need to make it happen. Imagine you had a partner in your journey through the expansion stage. Someone who has been there before – hired a Head of Product, optimized growth funnels, fine-tuned pricing and packaging, scaled GTM strategies and so much more. Our team is here to help bring to bear the network, expertise and operational resources you need to make it all happen. Once we understand what will move the needle in your business, we dig in to help. You’re in control, but we plug in at all levels of your organization to help you organize, prioritize and extend the reach of your team in the areas that matter most: acquisition & conversion, retention & expansion, corporate development, pricing & packaging and executive network.

We look similar, but we're fundamentally different to other venture funds. We've built our own businesses. We're investing our own money. We're not limited in what we can do. We invest in people, not ideas. We seek founders who are passionate about building generationally great companies. We focus on fast growth tech companies ...but we’re infinitely inquisitive Our depth of experience and lack of constraint are powerful when it comes to working with great founders. Our experience lends itself to founders of technology start-ups who are building growing businesses and who value our capital and experience. We look for growth equity positions, where we’re all on the same side of the table. Because we've been there before, we’re interested in simple capital tables with aligned, participating shareholders. Our best experiences have been when we're the only shareholder, and when we invested at inception. We don’t have a fund horizon or limitations. This lets us play the long-game for the truly outstanding companies. Our view is that it's your company and we'll do what we can to help you succeed. We're happy to buy founder or secondary shares where it makes sense. Fundamentally, what matters to us is that we back high integrity founders to build world-class businesses. Our Investment Focus This is what we value and look for in our investments. But we’re infinitely inquisitive (that is, we break rules!). So if your business doesn’t necessarily tick all these boxes and you are raising venture / growth capital or might in the future, please drop us a line (no, it doesn’t need to be a warm intro!) Great people: Passionate entrepreneurs that we like and want to work with. Complex domains: Companies that are solving significant problems. Business software: Software that has the capacity to be mission critical over time. Recurring revenue: Business models which are – or look like – recurring revenue. Growing markets: Markets that are rapidly growing (though we often find the best SaaS businesses start with small TAMs). Founders we can help: Companies and founders who have a deep ability to scale and learn and where we understand their domains.

We invest in capital-efficient SaaS companies ready to take the next big jump. Our founder's roots run deep. Entrepreneurs ourselves, for thirty years our mission has been to help tech founders grow and realize their vision. Our first decade focused on financial advisory, having advised over 200 tech firms on high-value outcomes. Operators at heart, we launched Kennet’s US presence in 2000 with a focus on helping founder-led bootstrapped companies achieve their potential. Over the past 20 years, we have taken an entrepreneurial approach to international investing by combining analytics, talent, and capital to cultivate over 50 high-growth ventures with almost $1 billion invested globally. In 2021, Kennet recapitalized, and the North American and European teams restructured to focus on their respective markets. The result is Savant Growth; a US fund with a powerful software and operations platform dedicated to accelerating growth for capital-efficient SaaS companies. Our mission is to help our founders/CEOs build high-growth market-leading companies. We do not work alone. We have the power of our operations platform through DevSavant and SaleSavant. We continue to partner with Kennet, managing Kennet V's and Kennet VI's US investment program. Together, we work to achieve global market leadership for our companies.

We’ve spent our careers in the growth-stage software space and appreciate the importance of a company’s inflection point. With a dedication to the fundamentals, understanding of the software market and lessons learned in the operational trenches, we're focused on helping propel companies to the next level. People with perspective We’re powered by an energetic, collaborative community – a community made of the motivated people at PSG and the exceptional innovators who lead PSG portfolio companies. We find purpose together: by diving in, working as a team and capturing new opportunities. Built for growth We understand the unique opportunities and challenges of building a leading software company. With that foundation, we’ve built a tried and tested growth engine that helps software businesses unlock their full potential for growth, expansion and impact. A genuine partnership It’s in our DNA: building connections and trust with management teams. This collective effort forms the foundation that drives companies forward. Meet the businesses that we’re proud to call our partners and learn how their software is transforming industries.

We're growth capital, done differently. TAILOR MADE Our revenue-based financing model is built specifically for growing B2B software companies. Our investment structure is designed to maximize alignment between RAC and the Company, and to maximize value and optionality for the business, while keeping everyone’s focus on efficient growth. LONG-TERM PARTNERS RAC serves as a long-term capital partner, able to fund across multiple rounds, through both non-dilutive and traditional growth equity investments. We’re also a long-term strategic partner, with the relationships, resources, knowledge and tools aimed to help our portfolio companies grow efficiently. GLOBAL PLATFORM With 3 offices across the US and Germany, RAC has direct reach across North America and Europe. Through The Riverside Company, our reach expands to 12 offices across 4 continents, with a total portfolio of over 100 companies in a wide range of industries and geographies. GROWTH TOOLBOX RAC’s growth advisors, and Riverside’s broader network of former executives and seasoned experts are dedicated to optimizing portfolio company growth. Riverside has worked with over 600 companies to date, and fundamentally understands how to optimize both organic, and in-organic growth, through mergers and add-on acquisitions. SOFTWARE SPECIALISTS We’ve spent the majority of our careers working alongside, and sometimes inside, early- and growth-stage B2B software companies. We fundamentally understand the unique challenges and opportunities software businesses face every day DEDICATED RESOURCES We’re part of The Riverside Company, which brings three decades of knowledge and experience growing small businesses. RAC’s dedicated growth advisors utilize that knowledge and resources to help our portfolio maximize performance.