AvePoint gets anchor investment by 65 Equity Partners

Jersey City-based AvePoint on Monday said 65 Equity Partners has become a substantial long-term stockholder through its purchase of 16.6666 million AvePoint shares of common stock (representing approximately 9% of AvePoint’s total outstanding common stock) from Sixth Street.

AvePoint is the largest independent software vendor of Software-as-a-Service solutions to migrate, manage and protect data in Microsoft 365.

“This investment reflects 65 Equity Partners’ confidence in our vision to advance the digital workplace, capture growing markets and prioritize profitable growth,” Tianyi “TJ” Jiang, co-founder and CEO, AvePoint, said.

65 Equity Partners is a global investment firm that seeks to support founders in its growth journey, with a mandate to invest in family-owned and entrepreneur-led businesses in Southeast Asia, Europe and the U.S. across the technology, business services, consumer, industrials and health care sectors. Backed by Temasek, 65 Equity Partners has $3.3 billion in funds under management.

Sixth Street led AvePoint’s Series C Preferred Equity investment in January 2020. It remains an investor in AvePoint.

“The APAC region represents an enormous growth opportunity for us and, given that Singapore is an important innovation center for AvePoint, we believe that an eventual dual listing on the Singapore Exchange will garner additional investor support in the region,” Jiang added.

“AvePoint is a leader in digital workplace transformation, and we believe it has a strong competitive advantage in the market,” Michael McGinn, partner at Sixth Street Partners and co-head of Sixth Street Growth, said. “We are proud to have been a part of AvePoint’s journey from a private company to a public one, and we look forward to the company continuing to execute against its strategic priorities.”