About This Fund
Smith Point Capital Fund I is the inaugural venture fund launched by Smith Point Capital, an operator-led investment firm established in 2022 by former Salesforce co-CEO Keith Block, alongside seasoned software executives Burke Norton and Chris Lytle. The fund focuses on growth-stage enterprise software companies, providing both capital and strategic operational support to accelerate their development.
With a hard cap of $400 million, the fund has secured commitments from notable investors, including ServiceNow as a strategic partner and anchor investor, as well as The Hillman Company, Solamere Capital, and David A. Tepper. Smith Point Capital leverages its founders' extensive experience in enterprise software to implement proven strategies in revenue growth, innovation, and operations, aiming to build durable, industry-leading businesses.
The firm's unique approach includes the Smith Point Precision Advisory Network, comprising senior executives from leading software companies, to provide portfolio companies with hands-on guidance and access to a wealth of industry knowledge and networks.
Financial Characteristics of Target Companies:
Investment Size: $20 million to $30 million per company
Company Stage: High-growth, privately held companies generating revenue
EBITDA Multiples: Typically ranging from 8x to 12x for software companies, reflecting high recurring revenue and scalability
Valuation Multiples: Revenue multiples for comparable software companies often range between 10x to 12x, depending on growth rates and market position