Project Description
Fund V: Investment Case Study
MV Connect
MV Connect
MVConnect is a leading provider of automatic license-plate recognition (“LPR”) software and data solutions for auto finance companies.
Investment Highlights
Investment Highlights
$19.8MM
Million
Bison Convertible Preferred Investment
50%
Equity
Bison Equity Ownership (as-converted)
115%
GROWTH
Growth / Value Creation
Partnership with Management
• MV was interested in bringing in a capital partner to provide partial liquidity to its founder, who was mostly inactive in the business, and position the company for growth. Management liquidity was minimal
• Management’s focus was on finding a value-added partner who could be accretive on the board and help guide the company’s growth strategy
Accretive Use of Proceeds
• Investment provided for shared control between the inactive founder and Bison and created additional equity incentive upside for management
Bison’s growth capital enabled MV to hire key sales executives and invest in technology development while ramping up its solution deployment in-market
Exit
• MVConnect was sold to Motorola in October 2019, generating 52.8% IRR and 2.3x MOIC on Bison’s investment
Overview
Industry: Tech Enabled Business Services
Invested: 2016
Status: Realized
Company Details
Website: https://mvtrac.com/
Exit
• MVConnect was sold to Motorola in October 2019, generating 52.8% IRR and 2.3x MOIC on Bison’s investment
