Rogue Wave software acquires Fund IV portfolio co Akana Software

Mark McQueen

It has been a busy week on the M&A front for our 2012-vintage Fund IV portfolio, and more evidence of the value of Wellington’s non-amortizing growth capital to entrepreneurs and VCs alike.  Particularly in anticipation of an eventual exit.

No sooner had the news hit the wire that SintecMedia would be buying Operative (see prior post “SintecMedia to acquire Fund IV Portfolio co. Operative Media Inc. for ~US$200M” Nov. 29-16), Colorado-based Rogue Wave Software announced that it had acquired Akana (fka SOA Software, Inc.).

Akana is a Los Angeles-based provider of software solutions to help large enterprises manage their service-oriented architecture and application programming interfaces (API) products across their organizations. The solutions allow for platform-independent SOA governance and API management, which are critical elements that enable large customers to connect and control applications from multiple vendors and partners.  Think banks, for example.

Akana was founded in 1998, and was backed by Draper Fisher Jurvetson, Navigation Capital Partners (formerly Mellon Ventures), Paladin Capital Group, Palisades Ventures, and Redpoint Ventures.

Of note, we funded both the Operative and Akana growth capital financings within two weeks of each other in March of 2014. I guess it’s only appropriate that both acquisitions were announced during the same short period in late 2016.

Congratulations to Akana’s Board, VCs and management on the outcome.



Share on:

Leave a Reply

Your email address will not be published. Required fields are marked *

Wellington Financial Provides US$6M to Electric Cloud to Accelerate Growth of its Market Leading DevOps Release Automation Platform

February 13th, 2017

Specialty finance firm invests in company to expand operations and fulfill increased market demand for ElectricFlow, the platform used by some of the largest enterprises in the world to accelerate […]

Wellington Financial Provides $14M to Dejero for Continued Innovation in Remote Broadcasting and Connectivity Solutions

February 10th, 2017

Specialty finance firm supports leading innovator in cloud-managed solutions that simplify the transport of live video and real-time data across remote or mobile IP networks TORONTO, ON. – February 10, […]

Blog: Western Business Undergrad receives Wellington Financial’s Award in Technology Evaluation & Analysis

March 2nd, 2017

Who doesn’t love it when a plan comes together?! Tony Ma, a 3rd year HBA student at Western University’s Ivey Business School, is the second recipient of the Wellington Financial LP Award in […]