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Expedition Welcomes Steve Twomey as Partner, Establishing Transatlantic Footprint

Expedition Growth Capital welcomes software growth equity investor Steve Twomey as Partner

Boston, Massachusetts and London, United Kingdom, 19 April 2024: Expedition Growth Capital (“Expedition”) is pleased to announce that Steve Twomey has joined as a Partner and launched the firm’s Boston office. Prior to Expedition, Steve spent 12 years at Summit Partners, backing and supporting over a dozen B2B-focused software companies across customer engagement, data analytics, IT operations and vertical SaaS categories.

Over 70% of Expedition’s European portfolio companies already have meaningful revenue in North America, and Steve will actively support the growth initiatives at these companies. In addition, he has joined the boards of Expedition portfolio companies, and Oktopost. Steve will also pursue new investments in North American software companies with transatlantic roots and ambitions.

In establishing a US presence, Expedition is strongly equipped to support the transatlantic growth objectives of rapidly scaling software companies, including access to talent, customers and strategic relationships. For capital-efficient software companies growing rapidly between $4 million and $10 million of ARR, Expedition is purpose-built to be the most aligned, globally resourced partner.

“Until now, the most ambitious bootstrapped software founders have faced a choice when seeking a growth equity partner with transatlantic resources. Either they wait to break through $10 million of ARR and become the smallest investment in a large fund; or they raise the right amount at the right time, from a more aligned but less globally resourced firm,” said Oliver Thomas, Founder and Managing Partner at Expedition. “With Steve leading our US office and galvanising our North American operator community, Expedition is now the uncompromising choice for these founders who may only want to raise $10 million or $20 million but rightly expect it to come from a world class growth equity partner.”

Expedition partners with ambitious, rapidly growing software companies that have achieved significant traction with little or no external funding. The firm seeks to invest $10 million to $30 million, providing growth capital and shareholder liquidity for minority ownership positions. Expedition companies are typically on a path to category leadership with a use rather than a need for capital. Earlier this month, the firm announced the closing of its second fund, Expedition Growth Capital II at the hard cap of €250 million ($270 million).

Will Sheldon, Partner at Expedition, shared, “I have been fortunate to know Steve for a decade, given our shared background from Summit Partners, and highly respect his approach to partnering with software founders. Steve joining Expedition represents a step change in our ability to support the transatlantic scaling ambitions of our portfolio companies.”

Steve expressed his excitement about joining Expedition: “I am thrilled to be joining the Expedition team and launching our Boston office. Over my investing career, I’ve partnered with numerous software companies with exceptional product-market fit that have been pulled into North America or Europe by global customers. It’s exciting to see the same pattern in so many of Expedition’s current and prospective portfolio companies.”

“The team’s depth of experience and focus on the type of investing that I find most energizing made this a unique opportunity – I’m delighted to be part of the Expedition journey.”