Vistara Growth

We’re excited to share the news that Vistara Fund IV portfolio company Skytap has been successfully acquired by Kyndryl (NYSE:KD), the world’s largest IT infrastructure services provider ($6B IT infrastructure spinoff from IBM). Vistara’s investment in Skytap was announced in October 2023.

The opportunity with Skytap was sourced through a relationship with the company’s CFO, who previously held the same role at BitTitan, a Vistara Fund III portfolio company which exited to a private equity backed strategic in June 2021. Skytap was seeking incremental growth capital to achieve additional milestones ahead of a potential exit without having to price the company’s equity ahead of a transaction – a common use case for Vistara’s flexible and often less dilutive growth capital.

Skytap’s innovative technologies for managing complex workloads in cloud native environments will now be leveraged by Kyndryl to help more customers accelerate their adoption of advanced analytics, artificial intelligence, and DevSecOps.

Noah Shipman, Partner at Vistara Growth, commented “We are glad to have played a part in the final mile of Skytap’s journey, providing capital for the company to achieve some important milestones and a strong balance sheet ahead of its sale process.  We thank the Skytap team and its investors for selecting Vistara to finance the last leg of growth and congratulate Kyndryl on its strategic acquisition of a great technology platform and company.”

Categories: News


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