CHICAGO, July 15, 2022 (GLOBE NEWSWIRE) — Nirvana Financial Solutions Inc. (“Nirvana” or the “Company”) and Blue Horizon Software Holdings (“Blue Horizon”), a Chicago-based SaaS platform focused on acquiring and operating high-quality and customer-focused software businesses, and a portfolio company of Concentric Equity Partners (“CEP”), is pleased to announce the recapitalization of Nirvana Financial Solutions, Inc.
Blue Horizon’s investment enables Nirvana to provide liquidity to some of its current shareholders and accelerate its growth through the addition of sales and marketing resources, enhancement of solution offerings and expansion of markets served.
Shams Karim, the Founder and CEO of Nirvana, together with the rest of the Nirvana management team will remain with the Company in their current roles and continue to lead the company’s expansion and growth. Electing not to sell any equity interest in the business, Shams will continue to maintain a significant ownership position in Nirvana. Blue Horizon’s investment in Nirvana follows its previous investment in Synthesis Technology Corp., also a technology business serving asset managers and asset owners.
Nirvana is a financial technology and service provider that delivers multi-asset class portfolio management, reporting, and order management solutions to asset managers and asset owners. The Company’s mission is to simplify the investment implementation and decision-making process by integrating front, middle, and back-office workflows onto an easy-to-use application. The Blue Horizon transaction provides Nirvana with a long-term partner to support the Company’s continued growth and delivery of innovative products to investment managers, family offices, hedge funds, and asset management clients.
Founder and CEO, Shams Karim, stated, “We’re excited about our partnership with Blue Horizon. They have a long-term investment strategy and an impressive group of former software executives that will mentor and support the existing Nirvana team. The capital injection will allow us to invest in sales & marketing, be more competitive, and accelerate our investment in technology, services, and people. My team and I will continue to work hard, strive to delight our customers and gain the industry’s trust.”
Jeff Galowich, CEO of Blue Horizon, stated, “The asset management industry is plagued with complex workflows that create extraordinary business and operational challenges for asset managers on a daily basis. Nirvana has a powerful, comprehensive solution, as well as a culture rooted in customer satisfaction, that enables asset managers to address these challenges. Through our partnership, we see an incredible opportunity to bring Nirvana’s industry-leading software, expertise, and client-first culture to more financial institutions around the globe. We look forward to partnering with Shams and his team.”
CEP and Blue Horizon are actively seeking to partner with profitable software businesses with stable recurring revenue streams, particularly those focused on the fintech sector. If you’re aware of SaaS businesses that are looking for a financial / strategic partner to enable future growth, please contact us.
About Concentric Equity Partners:
Concentric Equity Partners is a private investment firm that partners with leading middle market companies by providing capital and strategic advisory services to accelerate long term value creation. Concentric’s approach is simple: support entrepreneurs and operators by providing the resources required to achieve extraordinary results. The firm’s investment team is made up of individuals with distinguished track records as operators and professional investors across a variety of growth oriented middle market companies.
Concentric Equity Partners is the direct investing arm of Financial Investments Corporation, a private asset management firm and family office with over $2 billion in investment commitments under management. Financial Investments Corporation was founded in 1994 by father and daughter Harrison and Jennifer Steans and has been partnering with private companies for more than 25 years.
For more information on Concentric Equity Partners, visit https://www.ficcep.com/.
About Blue Horizon:
Blue Horizon acquires and invests in profitable software businesses with stable recurring revenue streams. The firm was started by Concentric Equity Partners, a Chicago based family investment office, together with a team of entrepreneurs and operators with many years of experience growing software businesses anging from startups to public companies. The Blue Horizon platform combines long-term capital and industry expertise with an operating model that enables businesses and their leaders to focus on growth and profitability while Blue Horizon handles back-office operations. Blue Horizon creates value from long-term profitable operating results across a family of businesses that achieve high customer and employee satisfaction, not by continually re-trading businesses after a few years of ownership.
For more information on Blue Horizon, visit www.bluehorizonsoftware.com.
About Nirvana Financial Solutions:
Nirvana is a financial technology and service provider that delivers multi-asset class portfolio management, reporting, and order management solutions to asset managers and asset owners. Clients using Nirvana can consolidate disparate data across multiple counterparties, multiple accounts, and multiple securities in real-time, from a single easy to use platform
For more information on Nirvana Financial Solutions, visit https://nirvanasolutions.com/