Genstar Capital becomes majority investor in Docupace
Docupace has announced a strategic investment from Genstar Capital (Genstar) that will make the latter the majority investor of the tech provider.
“Genstar’s investment is a testament to our belief that Docupace is transforming how critical work gets done in wealth management enterprises,” said Docupace CEO David Knoch. “We are excited to welcome Genstar as a strategic investor as we further improve the operational experience for clients, financial advisors, their staff, and home office team members.”
According to a news release, FTV Capital will retain a minority stake following its 2020 growth investment.
“We’ve been following Docupace’s transformation for several years, and we are proud to partner with Docupace and its management team on the next chapter of growth,” said Sid Ramakrishnan, director at Genstar Capital. “Docupace has a proven track record of delivering purpose-built software solutions that transform the operations of the back-office. We look forward to partnering with David and his team to advance Docupace’s platform and accelerate growth, both organically and inorganically.”
Under FTV’s ownership, Docupace has grown significantly, the news release noted. On a daily basis, over 130,000 electronic documents are processed, more than 62,000 work items are completed, and nearly 10,000 new client accounts are opened using Docupace products. Further, acquisitions of jaccomo and PreciseFP in 2021 broadened the company’s capabilities in compensation, compliance, and client data gathering.
“It has been incredible to partner with David, Michael (founder) and the team on Docupace’s momentous journey of growth and transformation,” said Robert Anderson, partner at FTV Capital. “We’ve built a world-class organization
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