Outcomes
Exits, full, partial and announced, across CrossWork vehicles.
Named, dated and publicly reported, including sales agreed but not yet closed. Fund-level figures stay in the portal, next to the documents that govern them.
Sources
Timeline
What happened after we invested
2026 · Reltio
Acquired by SAP
SAP completed its acquisition of the master-data company in May 2026.
Exits: completed, partial and announced
Different companies, different routes to cash
- AuditBoardExited · Risk software
Acquired by Hg, 2024.
- DataStaxExited · Data
Acquired by IBM, 2025.
- ReltioExited · Data
Acquired by SAP, 2026.
- SingleStoreExited · Data
Growth buyout led by Vector Capital, 2025.
- CerebrasPartially realized · AI compute
IPO, May 2026.
- Scale AIPartially realized · AI data
Meta's 2025 investment in Scale AI.
- SalsifyAnnounced · Commerce software
Agreed to be acquired by Cinven, 2026 (pending).
Sources
- 22. Business Wire, May 23, 2024: AuditBoard agrees to be acquired by Hg.
- 28. Database Trends and Applications, May 2025: IBM officially closes acquisition of DataStax.
- 31. SAP News Center, May 2026: SAP completes acquisition of Reltio.
- 32. SingleStore, October 16, 2025: SingleStore and Vector Capital close growth buyout to accelerate Enterprise AI Innovation.
- 1. CNBC, May 13, 2026: Cerebras prices IPO above expected range.
- 29. Bloomberg, June 13, 2025: Meta finalizes $14.3 billion Scale investment, hires its CEO.
- 11. Salsify, July 22, 2026: Cinven to acquire Salsify, Inc. (press release).
- 12. Cinven, July 22, 2026: Cinven to acquire Salsify.
Still held
Positions we continue to hold
- PerplexityAn answer engine for the open web.
- StripeFinancial infrastructure for the internet.
- Neo4jThe graph database.
- SambaNovaEnterprise AI systems.
- DataRobotEnterprise machine learning.
Sources
Candour
A lesson we paid for: Thrasio
Thrasio was a debt-funded roll-up of consumer brands. When rates rose, the debt that built it undid it, and we wrote the position off.
The takeaway shaped our method: favour companies growing organically, with little debt, over growth bought with leverage.
Sources
Outcomes
The shape of the record.
Record-setting exits. Realized exits have already returned capital to investors. Detailed performance is available to verified investors in the CrossWork portal.
In May 2026 its IPO raised $5.6B at $185 a share, the largest US tech IPO since Uber. In 2024 Hg acquired it for $3B+, the largest such purchase of 2024 at the time.