Smith Point Capital, a San Francisco, CA and NYC-based operator-led enterprise software venture investment firm, launched the firm and held the first closing of its inaugural fund, Smith Point Capital Fund I.
ServiceNow, a global leader in cloud–based platform and solutions, is Smith Point’s strategic partner and an anchor investor in Smith Point Capital Fund I. Additional investors which participated in the first closing include the advisory clients of the Hillman Company, Solamere Capital, and investor David A. Tepper among other institutions and individuals.
Smith Point has set a hard cap for investor commitments of $400M for Fund I.
Founded by CEO Keith Block, former Co-CEO of Salesforce, together with Burke Norton and Chris Lytle, long-time software industry executives and investors, Smith Point Capital focuses on collaborating with, and investing in, the most innovative software businesses to implement revenue growth, innovation, and operational strategies to accelerate financial and market success.
A critical element of the firm’s strategy includes the Smith Point Precision Advisory Network, which is comprised of senior executives currently operating at many of the most innovative software companies in the world. Smith Point will extend its own operating expertise by leveraging the experience and professional networks of the members of its Precision Advisory Network to foster impactful relationships with the management teams of Smith Point portfolio companies in order to accelerate responsible growth.
Mr. Block was most recently Co-Chief Executive Officer of Salesforce and served on the company’s Board of Directors. Prior to Salesforce, he served as Executive Vice President of North America at Oracle.
Mr. Norton was most recently Senior Managing Director at Vista Equity Partners, where he was co-head of Vista’s Perennial Capital Fund, and was previously a senior executive and a member of the Executive Committee at Salesforce. Mr. Norton was previously a technology industry securities lawyer and was a partner at Wilson Sonsini.
Mr. Lytle has more than 25 years of experience in technology investing and management, last serving as President of Longfellow Capital. Prior to Longfellow, he served in various senior executive roles with enterprise software companies and as a Managing Director at Morgan Stanley leading RCL Capital.