Overview
A. Description of the Advisory Firm
Banneker Partners, LLC (“Banneker” or the “Firm”) is a San Francisco based private equity
firm established in 2016. The Banneker team is composed of nine professionals with over 80
years of relevant investing, operating and administrative experience. The Firm is led by five
Partners, including Stephen Davis, Matthew McDonald, Harjot Sachdeva, Darryl Lewis, and
Kenneth Frank. Mr. Davis, Mr. McDonald, and Mr. Frank are primarily focused on leading
investments and operations of portfolio companies, whereas Mr. Sachdeva and Mr. Lewis are
primarily focused on the execution of best practices and implementation of strategic
initiatives across the Firm’s portfolio.
B. Types of Advisory Services
Banneker serves as an investment adviser to certain private investment funds, which are
organized as Delaware limited partnerships or limited liability companies (and special
purpose vehicles (“SPVs”) (each a “Fund” and collectively the “Funds”). SPVs are typically
formed on a transaction-by-transaction basis to participate in investment opportunities
alongside the Funds. Unlike the Funds, which generally do not limit investment discretion,
such SPVs are often limited to investing only in the securities relating to the particular
transaction for which the SPV was created. Collectively, the SPVs and the Funds will be known
as “clients.”
Affiliates of Banneker serve as general partner or manager, as applicable, of the
Funds. Banneker may also decide in the future to sponsor or manage additional private
investment funds or other clients.
The Funds offer limited partnership or membership interests, as applicable (“Interests”) to
certain qualified investors as described in response to Item 7, below (such investors are
referred to herein as “Investors”).
Banneker invests primarily in the software industry.
Banneker is often the sole institutional investor in its portfolio companies, but also may make
select co-investments. The Firm’s strategy is described in its marketing materials, the Funds’
limited partnership or limited liability company operating agreement, as applicable, and the
subscription documents (collectively, the “Governing Documents”).
C. Client Tailored Services and Client Imposed Restrictions
Advisory services are tailored to achieve each Fund’s investment objectives. Banneker has
the authority to select which and how many portfolio companies to invest in and to determine
exit strategies pursuant to the Governing Documents.
D. Wrap Fee Programs
Banneker does not participate in wrap fee programs.
E. Amounts Under Management
As of December 31, 2023, Banneker has approximately $1,989,598,775 in assets, including
unfunded commitments under management.