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TPG Growth and The Rise Fund Make Major Investment in Greenhouse Software

TPG Growth and The Rise Fund to Acquire CLEAResult Background Image

Vinson & Elkins advised TPG Capital Management, L.P., through certain subsidiaries, in connection with the definitive agreement between TPG Growth and The Rise Fund to partner with Greenhouse, the leading hiring software company used by over 4,000 businesses, as a majority investor.

TPG Growth, the middle-market and growth equity platform within TPG, and The Rise Fund, the global impact investing platform managed by TPG, will jointly invest in Greenhouse to accelerate product innovation, grow into new markets, and enhance solutions aimed at accelerating diversity, equity and inclusion in hiring. Financial terms of the transaction were not disclosed. The transaction, which is expected to close during the first half of 2021, is subject to customary closing conditions.

The V&E corporate team was led by partner John Kupiec and senior associate Michael Gibson, with assistance from associates Heather Brocksmith, Mark Phillips, Danny Wicoff and Julie Bontems. Also advising were counsel Julia Petty and associate Mary Daniel Morgan; partner Sean Becker and counsel Martin Luff; partner John Lynch, senior associate Allyson Seger and associate Miron Klimkowski; partner Devika Kornbacher and senior associate Ben Cukerbaum; partner Hill Wellford, counsel David Smith and associate Ryan Will; counsel Elizabeth Krabill McIntyre and senior associate Brian Howard; and counsel Sarah Mitchell and senior associate Robert Stelton-Swan.

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