Technology Industry Veteran Scott Wagner Joins True Wind as Head of Strategic Capital

Rhea-AI Summary

True Wind Capital announced the appointment of Scott Wagner as Head of Strategic Capital on July 15, 2021. Wagner, with nearly 30 years of experience, previously served as CEO at GoDaddy, where revenue grew from $800 million to $3 billion. He has been involved with True Wind's SPACs, including NEBC and TWCTU. His leadership is expected to enhance True Wind's operations within the SPAC sector, which continues to be vital for growth opportunities in technology markets. Notably, True Wind's first SPAC, LPRO, saw shares appreciate over 300% since its merger.

Positive

• Scott Wagner appointed as Head of Strategic Capital, bringing extensive experience.
• Wagner's leadership expected to strengthen True Wind's SPAC operations.
• True Wind's SPACs have potential for growth and value creation.

Negative

• None.

SAN FRANCISCO, July 15, 2021 /PRNewswire/ -- True Wind Capital ("True Wind"), a San Francisco-based private equity firm focused on investing in leading technology companies, today announced that technology industry veteran Scott Wagner has joined the firm as Head of Strategic Capital. In this new role, Mr. Wagner will be responsible for leading True Wind's SPAC franchise and overseeing its operations.  Mr. Wagner has been closely involved with True Wind Capital, having served as an independent board member to prior True Wind SPACs and as an advisor to the firm for over five years.

Mr. Wagner brings nearly 30 years of operating experience within the software, internet, consumer media, and data and analytics sectors. Previously, Mr. Wagner held various senior leadership roles at GoDaddy, most recently as Chief Executive Officer. Prior to assuming the CEO role in 2017, he served as President, Chief Operations Officer and Chief Financial Officer. During Mr. Wagner's seven-year tenure, GoDaddy evolved from its successful founding as the leading domain name registrar in the United States into a nearly $15 billion enterprise value global software-as-a service (SaaS) company, and revenue grew from approximately $800 million to approximately $3 billion.

Prior to joining GoDaddy, Mr. Wagner was a Partner at KKR, a global investment manager. At KKR, Mr. Wagner was a founding member of the Capstone Value Creation team and led key value creation initiatives across KKR's portfolio. He continues to be closely connected within the technology business community, serving on the boards of several leading technology companies.

"We are thrilled to welcome a professional of Scott's caliber to True Wind. Having known and worked alongside Scott for more than 20 years, we know first-hand his deep operating experience and value he brings to companies in sectors that are core to our investment approach," said Adam Clammer and Jamie Greene, Founding Partners of True Wind. "Looking ahead, we believe that SPACs will continue to play a meaningful role in the financial ecosystem and provide exceptional companies and investors with significant opportunities for growth. Scott's proven leadership, technology operating expertise and successful experience in the public markets enhances True Wind's ability to continue our execution in this important market segment."

"True Wind has built a strong investment platform across the technology sector with a proven track record of delivering value for its investors and portfolio companies alike," said Mr. Wagner. "The True Wind team can help position companies for longer-term success in the public markets, and I am eager to work with both Adam and Jamie to create great opportunities for great companies."

True Wind Capital's recent SPACs include Nebula Caravel Acquisition Corp. (Nasdaq: NEBC) and TWC Tech Holdings II Corp. (Nasdaq: TWCTU), which have announced mergers with A Place for Rover, Inc. the world's largest network of five-star pet sitters and dog walkers, and Cellebrite DI Ltd., the global leader in Digital Intelligence solutions for the public and private sectors, respectively.  True Wind's first SPAC, Nebula Acquisition Corp, successfully completed a business combination with Open Lending (Nasdaq: LPRO) in June 2020, whose shares have appreciated more than 300% since the transaction close.

About True Wind Capital
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. 

Media Contacts:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170

View original content:https://www.prnewswire.com/news-releases/technology-industry-veteran-scott-wagner-joins-true-wind-as-head-of-strategic-capital-301335288.html

SOURCE True Wind Capital

FAQ

What is Scott Wagner's role at True Wind Capital?

Scott Wagner has been appointed as Head of Strategic Capital.

What experience does Scott Wagner bring to True Wind Capital?

Wagner has nearly 30 years of experience, including a successful tenure as CEO at GoDaddy.

What are the ticker symbols associated with True Wind Capital's SPACs?

The ticker symbols are NEBC, TWCTU, and LPRO.

How much did GoDaddy grow in revenue during Wagner's tenure?

GoDaddy's revenue grew from approximately $800 million to $3 billion.

What significant achievement did True Wind's first SPAC, LPRO, accomplish?

LPRO's shares have appreciated over 300% since the merger.