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PSG

Terms and Conditions of Use

Effective Date: November 3, 2022. Thank you for visiting this website, provided to you solely for informational purposes by PSG Equity L.L.C. (together with its affiliates, “PSG,” “we,” or “us”).

These terms and conditions (“Terms of Use”) are a contract between users (“you”) and PSG and apply to the website located at psgequity.com, its content and any other webpages owned and/or operated by us that link back to, or otherwise display, these Terms of Use, including any password-protected areas of this site as well as the Twitter, LinkedIn and Facebook pages maintained by PSG (the “Social Media Sites” and, collectively, the “Website”).

By using the Website, you agree to abide by these Terms of Use. If you do not agree to abide by these Terms of Use, your sole and exclusive remedy is to discontinue using the Website. Your compliance with these Terms of Use and any Other Agreements (as defined below) is a condition to your right to access the Website. This document affects your legal rights, including limiting your damages if you sue us, so please read it carefully.

We reserve the right, in our sole discretion, to change, modify, add or remove any portion of the Website, including the Terms of Use, in whole or in part, at any time, without prior notice to you. Changes to these Terms of Use will be effective when posted. For this reason, we encourage you to visit and review this page regularly to ensure that you are familiar with the then current Terms of Use that apply to your use of the Website. The date of the last revision or update appears at the top of the Terms of Use under the title. Nothing contained in these Terms of Use is intended to modify or amend any other written agreement you may have with us (including without limitation any customer agreement, participation agreement or account agreement) (“Other Agreements”), if any, that may currently be in effect. In the event of any inconsistency between these Terms of Use and any Other Agreements, the Other Agreements will govern. To the extent these Terms of Use conflict with the terms and conditions of use relating to any password-protected area of the Website (“Other Terms of Use”), the more specific Other Terms of Use relating to such password-protected area shall control.

Acceptable Use of the Website

All materials, including but not limited to images, text, data, illustrations, designs, icons, photographs, programs, downloads, videos, services and content (“Content”) that are part of the Website are intended solely for personal, non-commercial use. We authorize you to view and access a single copy of the Content available on the Website for your own use. You agree to only use the Website and the Content for the purposes for which it has been designed. You further agree to comply with these Terms of Use and all applicable local, state, national, and international laws, rules, and regulations. Please be advised that we may record certain usage information, such as the number and frequency of visitors to the Website.

Restrictions on Use

As a condition of your use of the Website, you agree that you will not, under any circumstances:

  • Reproduce, publish, transmit, distribute, display, modify, create derivative works from, sell or participate in any sale of or exploit in any way, in whole or in part, any Content;
  • Use the Website in any manner that could damage, disable, overburden, or impair the Website or interfere with proper functioning of the Website, including making automated use of the Website or taking any action that we deem to impose or potentially impose an unreasonable or disproportionately large load on our servers or network infrastructure;
  • Use the Website for any unlawful purpose or for the promotion of illegal activities;
  • Interfere with or disrupt or attempt to interfere with or disrupt the Website or servers or networks connected to the Website, or disobey any requirements, procedures, policies, or regulations of networks connected to the Website, including bypassing any measure we take to restrict access to the Website;
  • Use any software, technology or device to scrape, spider, or crawl the Website or harvest or manipulate data on the Website;
  • Reverse engineer, decompile, disassemble, or otherwise attempt to extract or discover the source code of the Website or any part thereof, except and only to the extent that such activity is expressly permitted by applicable law notwithstanding this limitation; or
  • Use another’s user ID and password to access the Website without permission.

If we believe you are using or attempting to use the Website in breach of any one or more of these restrictions, we reserve the right to suspend or terminate your ability to use the Website (or any portion thereof).

Linked Sites and Other Third-Party Content

The Website may provide links to websites operated by other entities. These links are provided strictly for your convenience. In addition, with or without our consent, third-party sites may be linked to the Website and third parties may repost outside of the Website information shared by PSG on the Website. We make no warranty or representation regarding, do not endorse, and do not accept any responsibility for, any websites linked to or from the Website or the information appearing thereon or any of the products or services described thereon. You acknowledge and agree that use of third-party websites is strictly at your own risk. You may not link a part of the Website to another website without our express permission. We make no warranty or representation regarding, do not endorse, and do not accept any responsibility for, any information that is reposted from the Website without PSG’s express permission.

Additionally, the Website may show news released by, and other content prepared by, organizations other than PSG (such news and other content, “Third-Party Content”). We make no warranty or representation regarding, do not endorse, and do not accept any responsibility for, any Third-Party Content shown on the Website. The Social Media Sites may also show comments or reactions (including likes and emojis) (collectively, “Comments”) from third parties and PSG employees. We make no warranty or representation regarding, do not endorse, and do not accept any responsibility for, any Comments (including any Comments posted by PSG employees).

The Website may otherwise make references to other entities, including displaying logos or symbols of such entities (each such reference, “Third-Party Reference”). We make no warranty or representation regarding, and do not accept any responsibility for, any such Third-Party Reference. Additionally, no Third-Party Reference indicates, and no Third-Party Reference should be viewed as, an endorsement, either by us of such entity or by such entity of PSG.

Intellectual Property

The Website and its Content are the exclusive property of and owned by PSG. The Website contains and is protected by intellectual property rights, including copyrights, trademarks, logos, and service marks (whether registered or not, and wherever in the world those rights may exist) owned by PSG or third parties that have licensed their materials or provided services to PSG. Providence Strategic Growth” and “PSG” are registered trademarks of PSG Equity L.L.C. Access to or viewing materials posted to the Website does not confer any license under any of our or any third party’s intellectual property rights or otherwise authorize you to use any trademark, logo, service mark, copyright, or other intellectual property, except as explicitly provided herein, agreed to by PSG or permitted under applicable law. The Content of the Website may not be reproduced or redistributed in whole or in part, in any format, without the express written approval of PSG.

No Offers or Advice/Forward-Looking Statements/Historical Information

The Content provided on the Website is for informational purposes only and is not, and may not be relied on in any manner as, professional, tax, accounting, legal, ERISA or financial advice or as an offer to sell or a solicitation of an offer to buy an interest in any fund, investment vehicle, or account managed by PSG. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement, prospectus, or other related document with respect to a particular investment opportunity (each, an “Offering Document” and, collectively, the “Offering Documents”) and will be subject to the terms and conditions in such documents, including the qualifications necessary to become an investor. The information on the Website is superseded by, and is qualified in its entirely by reference to, the Offering Documents. By clicking the “I Agree” button, among other methods, on the click-through page of an offering, you represent that you have been provided with the applicable Offering Documents and have had an opportunity to review the terms and conditions, as well as the risk factors, of said offering. None of the information contained on the Website has been filed with the U.S. Securities and Exchange Commission, any securities administrator under any state securities laws or any other governmental or self-regulatory authority. No governmental authority has passed on the merits of the offering of interests in any fund, investment vehicle, or account managed by PSG or the adequacy of the information contained on the Website. Any representation to the contrary is unlawful.

Nothing contained on the Website constitutes professional, tax, accounting, legal, ERISA or financial advice nor does any information contained on the Website constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. In addition, nothing contained on the Website shall constitute a recommendation or endorsement of any securities and any references to any securities or portfolio companies should not be used as the basis for making any decision about purchasing, holding or selling any securities or investments. Nothing contained on the Website should be interpreted or used in any manner as investment advice. Any discussions of securities and portfolio companies is intended to be illustrative and is not intended to be used as an indication of the current or future performance of any securities, funds or portfolio companies. Any transactions described on the Website as having been engaged in by us are included for illustrative purposes only and are not necessarily reflective of overall results of any of our businesses. No endorsement, guarantee or representation regarding the performance or any security, strategy, fund, portfolio company or investment is being made hereby, including regarding the suitability of any investment or investment strategy. Any decision to invest or take any other action with respect to the securities or investments shown on the Website may involve risks not discussed herein and no such decisions should be made based on the information contained on the Website. It should not be assumed that any securities or investments shown on the Website will increase in value. You are solely responsible for evaluating the risks and merits regarding use of the Website and should obtain relevant and specific professional advice, including tax advice, from your legal, financial, personal and other advisers, before making any investment or financial decision or purchasing any financial, securities or investment-related service or product.

An investment in a fund, investment vehicle or account managed by PSG is subject to significant risks that are described in more detail in the Offering Documents, including the loss of principal amount invested. Such investments are not suitable for all investors and are not obligations of or guaranteed by PSG or any of its affiliates. The investments are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other entity. Before making an investment decision, prospective investors should pay particular attention to the risk factors contained in the Offering Documents. Investors should have the financial ability and willingness to accept the risk characteristics of an investment. There can be no assurance that any fund, investment vehicle or account managed by PSG will be able to implement its investment strategy or achieve its investment objectives.

Any statements provided by current or past portfolio company executives are provided solely as illustrative examples of such executive’s experience working with PSG as a business partner. Such statements are directed at owners and executives of prospective portfolio companies we may seek to invest in and are not intended to solicit investors in any investment vehicle we manage. The portfolio companies reflected in these statements do not represent all investments made by PSG. We have not provided cash or other compensation in exchange for receiving such statements. Any discretion we exercise in the determination of the compensation of our portfolio company executives, or other benefits provided to such executives, is not influenced by whether an executive has provided a favorable statement. Nevertheless, the fact that any statements have been provided by individuals whose compensation we exercise a certain level of control over, or who may receive certain benefits from us, may incentivize them to provide favorable evaluations of their experiences working with us. Certain portfolio company executives are also current or former Senior Advisors of PSG. Please see PSG’s Form ADV Part 2A filed with the SEC for additional details.

Certain information contained on the Website has been obtained from published and non-published sources. Such information has not been independently verified by PSG, and the Website, and the information and materials herein, are provided “as is” and without warranties or representations of any kind either express or implied. PSG and its affiliates disclaim all warranties, express or implied, including but not limited to, implied warranties of merchantability and fitness for a particular purpose. PSG does not warrant the accuracy, completeness or reliability of any information on the Website or that the Website will operate “error free.” Except where otherwise indicated on the Website, the information provided on the Website is based on matters as they exist as of the date of the Website or the date indicated therein and not as of any future date, and may not be updated or otherwise revised to reflect information that subsequently becomes available or changes in circumstances occurring after such date.

Certain information on the Website may contain forward-looking statements, which can be identified by the use of terms such as “may,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” “optimistic,” “intend,” “aim,” “will,” “continue” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, actual events or results of actual performance of an investment may differ materially from those reflected or contemplated in such forward-looking statements, which only speak as of the date they are made, and there is no guarantee that these opinions or predictions will ultimately be realized. As a result, investors should not rely on such forward-looking statements in making their investment decisions. Any projection of the performance or targets discussed by PSG is highly speculative and represents PSG’s opinion, which may change. PSG undertakes no obligation to update publicly or revise any statements contained on the Website, whether as a result of new information, future developments or otherwise.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. ANY INVESTMENT INVOLVES SIGNIFICANT RISKS, INCLUDING LOSS OF THE ENTIRE INVESTMENT.

No representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. Market and economic conditions in the future may vary. In addition, not all portfolio companies held by PSG had performance that equaled the performance of the companies shown on the Website. Certain materials contained on this website include quotations from PSG portfolio company executives, certain of whom are also investors in strategies sponsored by PSG. For a complete list of PSG portfolio companies, please click here. In addition, individual performance experienced by an investor may vary depending on the structure of a particular investor’s investment.

The Content has not been reviewed or approved by any regulatory authority and has been prepared without regard to the individual financial circumstances or objectives of persons who may receive it. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. No representation is being made as to the suitability of any investment.

The PSG Team

PSG previously operated as an investment adviser under common control with Providence Equity Partners L.L.C. (“Providence”). As of November 2020, Providence and PSG are no longer affiliates.

Compliance with Applicable Law

Unless otherwise expressly set forth herein, we make no representation that materials on the Website are appropriate or available for use in any particular location. If it is illegal or prohibited in your country of origin to access or use the Website or any of its Content, including any Social Media Site, then you agree not to do so. Those who choose to access the Website do so on their own initiative and are responsible for compliance with local laws.

In the U.K., the Website is issued by PSG Equity LLP, which is authorized and regulated by the Financial Conduct Authority (the “FCA”) and entered on the U.K.’s Financial Services Register with reference number 938536. PSG Equity LLP is a limited liability partnership registered in England and Wales, with registered number OC430369, and has its registered office at 2nd Floor, 15 Sloane Square, London, England, SW1W 8ER, the United Kingdom. Its VAT registration number is GB344667085. In the U.K., the Website is directed only at professional clients and eligible counterparties, as defined in the Glossary of the FCA Handbook, (together, “relevant persons”). The Content of the Website must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which the Website relates is available only to relevant persons and will be engaged in only with relevant persons. In addition, no “investment service,” as defined in the Glossary of the FCA Handbook, is or may be provided by the Website. None of the statements on the Website excludes or restricts any duty or liability that PSG Equity LLP has under the rules and regulations of the Financial Services and Markets Act 2000 of the United Kingdom.

Password and Security Notification

Certain additional information and services available on the Website may be accessible to you only if you have been provided with a username and password (“Password User”). Use of such additional information and services shall be subject to additional terms and conditions. You may not attempt to access any password protected areas of the Website without authorization. If you have been issued a password for the Website, you agree that we have granted you limited access to specific files pertaining to investments relevant to you, and you agree not to attempt to access other computer files. All information that we provide to Password Users is confidential and intended solely for the information of its intended recipient and/or such recipient’s financial, legal or tax advisors, provided that such advisors agree not to disclose any information that is confidential. You, as a Password User, are solely responsible for (i) maintaining the confidentiality of the password and user ID and (ii) all activities that occur under your user ID. If, in the process of obtaining a user ID and password, you provide us with any information that is untrue, inaccurate, not current, or incomplete, or if we have reason to suspect that such information is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your user ID and password and refuse any and all current or future use of the Website (or any portion thereof). The Password User shall immediately notify us of any loss or theft of the password, or if the confidentiality of the password has otherwise been compromised in any way. We will not be responsible or liable for any loss, expense or damage arising in any way from use of the password and user ID and/or the accessing of information or materials therewith.

Disclaimer and Indemnity

Views expressed are those of PSG. The Website and the information and materials on the Website are provided “as is” and without warranties or representations of any kind either expressed or implied and we and our affiliates disclaim all warranties, expressed or implied, including but not limited to, implied warranties of merchantability and fitness for a particular purpose. We do not warrant the accuracy, completeness, reliability, security, availability at all times or timeliness of any information on the Website or that the Website will operate “error free.” In no event shall we or our affiliates, or any of our or their respective partners, stockholders, members, managers, officers, directors, employees, agents, funds and such funds’ limited partners (collectively, the “PSG Parties”), be responsible for any damages, liabilities or injury, including indirect, incidental, special, punitive, multiple, consequential or other damages, however caused or arising out of your use of (or inability to use) the Website. If your use of the Website gives rise to any third party complaint, charge, claim, loss, expense, damage, cost, liability or demand, including attorneys’ fees (collectively, a “Claim”), against you or any PSG Party, you agree to (i) indemnify and hold harmless the PSG Parties with respect to any such Claim, (ii) release the PSG Parties from any such Claim and (iii) waive all laws that may limit the efficacy of such release.

Limitation of Liability

To the maximum extent permitted by law, we disclaim all liability arising out of your use of the Website and its Content, even if we have been advised of the possibility of the damages, liability or injury that you suffer, including any damages, liability or injury caused by any incorrectness or incompleteness of information contained herein, any failure of performance, error, omission, defect, interruption, delay in operation, computer virus, line failure or other computer malfunction, whether caused by negligence or otherwise.

Notice of Copyright Infringement

The Digital Millennium Copyright Act of 1998 provides recourse for copyright owners who believe that material posted on Internet sites infringes their rights under U.S. copyright law. If you believe in good faith that items, information or other materials appearing on the Website infringe your copyright, please send us a notice containing the following information:

  • A physical or electronic signature of a person authorized to act on behalf of the owner of an exclusive right that is allegedly infringed;
  • Identification of the copyrighted work claimed to have been infringed, or, if multiple copyrighted works are covered by a single notification, a representative list of such works;
  • Identification of the material that is claimed to be infringing or to be the subject of infringing activities and that is to be removed or access to which is to be disabled, and information sufficient to permit us to locate the material;
  • Contact information for the notifying party, including name, address, telephone number, and email address;
  • A statement that you have a good faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent, or the law; and
  • A statement that the information in the notification is accurate, and under penalty of perjury, that you are authorized to act on behalf of the owner of an exclusive right that is allegedly infringed.

Please submit this notice to us at info@psgequity.com.

Termination

We may at any time, terminate these Terms of Use and your access to the Website, including access to your user ID and password: (i) if we believe you have breached or attempted to breach any provision of these Terms of Use; (ii) if we are required to do so by law; (iii) if we are transitioning to no longer providing the Website to users in the country or state in which you reside or from which you use the Website; (iv) the provision of the Website to you by us is, in our opinion, no longer commercially viable; or (v) in our sole discretion, at any time and for any other reason. Your continued use of the Website following such termination may result in your liability for conversion, misappropriation, trespass to chattels and all other claims and causes, regardless of the identity of claimant or injured party, arising from or relating to your continued use of the Website. Any suspected fraudulent, abusive, or illegal activity that may be grounds for termination of your use of the Website may be referred to appropriate law enforcement authorities.

When these Terms of Use are terminated, any of the legal rights, obligations, and liabilities that by their nature should continue shall survive such termination.

Awards

GrowthCap Top 25 Growth Equity Firms of 2020 Award (awarded on February 16, 2021). Recognition in the Top 25 Growth Equity Firms of 2020 list is awarded by GrowthCap, LLC (“GrowthCap”), an independent, third party that is not affiliated with PSG. According to GrowthCap, awardees were independently selected based on GrowthCap’s evaluation of the 350 nominations they received. GrowthCap states that they analyzed the uniqueness of each nominee’s approach to growth equity investing as well as the nominee’s ability to effectively and consistently build value for their portfolio companies. GrowthCap’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee to participate in and distribute the Top 25 Growth Equity Firms of 2020 list. Nominees were not required to be members of GrowthCap to be considered.

GrowthCap Top 40 Under 40 Growth Investors of 2020, 2021, 2022, 2023 and 2024 Awards (awarded on December, 21, 2020, December 21, 2021, December 21, 2022, December 23, 2023, and December 18, 2024, respectively). Top 40 Under 40 Growth Investors of 2020, 2021, 2022, 2023 and 2024 recognition is awarded by GrowthCap, an independent, third party that is not affiliated with PSG. According to GrowthCap, nominees applied and were independently assessed based on their written responses to questions on GrowthCap’s nomination form and other information they provided, including on breadth of experience and performance metrics. GrowthCap also took into consideration third party feedback from portfolio company CEOs and other executives. Statements provided in such feedback or in connection herewith by PSG portfolio company executives are not representative of the experience of all PSG portfolio companies and their personnel with PSG. The number of nominees reviewed for this recognition was not disclosed to PSG, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. GrowthCap’s recognition is not indicative of PSG’s future performance. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee per awardee to participate in and distribute the Top 40 Under 40 Growth Investors of 2020, 2021, 2022, 2023 and 2024 results. Nominees were not required to be members of GrowthCap to be considered.

Inc.’s 2021 List of Founder-Friendly Investors Award (awarded on October 5, 2021). The 2021 List of Founder-Friendly Investors recognition is awarded by Inc., an independent, third party that is not affiliated with PSG. Inc. requested nominees provide them with no more than 5 entrepreneur references from U.S.-based, founder-led, portfolio companies that PSG sponsored investment vehicles had exited between January 1, 2016, and March 31, 2021, and Inc. independently assessed the nominees based on responses to a questionnaire by such entrepreneur references. Statements provided in such references or in connection herewith by PSG portfolio company executives are not representative of the experience of all PSG portfolio companies and their personnel with PSG. The number of nominees reviewed for this recognition was not disclosed to PSG, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. Inc.’s recognition is not indicative of PSG’s future performance. PSG paid an application fee to participate in this process. Nominees were not required to be subscribers to Inc. media to be considered.

Inc.’s 2022 List of Founder-Friendly Investors Award (awarded on October 12, 2022). The 2022 List of Founder-Friendly Investors recognition is awarded by Inc., an independent, third party that is not affiliated with PSG. Inc. requested nominees provide them with no more than 5 entrepreneur references from U.S.-based, founder-led, portfolio companies that PSG sponsored investment vehicles had exited between January 1, 2017, and March 31, 2022, and Inc. independently assessed the nominees based on responses to a questionnaire by such entrepreneur references. Statements provided in such references or in connection herewith by PSG portfolio company executives are not representative of the experience of all PSG portfolio companies and their personnel with PSG. The number of nominees reviewed for this recognition was not disclosed to PSG, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. Inc.’s recognition is not indicative of PSG’s future performance. PSG paid an application fee to participate in this process. Nominees were not required to be subscribers to Inc. media to be considered.

The Wall Street Journal Pro PE 2021 Women to Watch List (awarded on October 8, 2021). The 2021 Women to Watch List is awarded by The Wall Street Journal Pro PE, an independent, third party that is not affiliated with PSG. According to The Wall Street Journal Pro PE, nominees applied and were independently assessed based on their written responses to questions on The Wall Street Journal’s nomination form and other information they provided, including on breadth of experience throughout their career through August 17, 2021. The number of nominees reviewed for this recognition was not disclosed to PSG, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. The Wall Street Journal Pro PE’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. Nominees were not required to be members of The Wall Street Journal Pro PE to be considered.

GrowthCap Top 25 Software Investors of 2021 Awards (awarded on November 2, 2021). Top 25 Software Investors of 2021 recognition is awarded by GrowthCap, an independent, third party that is not affiliated with PSG. According to GrowthCap, nominees applied and were independently assessed based on their written responses to questions on GrowthCap’s nomination form and other information they provided, including on breadth of experience throughout their career. The number of nominees reviewed for this recognition was not disclosed to PSG, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. GrowthCap’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee per awardee to participate in and distribute the Top 25 Software Investors of 2021 results. Nominees were not required to be members of GrowthCap to be considered.

GrowthCap Top 25 Growth Equity Firms of 2021 Award (awarded on February 22, 2022). Recognition in the Top 25 Growth Equity Firms of 2021 list is awarded by GrowthCap, an independent, third party that is not affiliated with PSG. According to GrowthCap, awardees were selected based on a thorough evaluation of hundreds of nominations submitted in addition to further research and peer commentary. GrowthCap states that they focused keenly on the unique attributes of each firm that enable it to create value for portfolio companies and optimize outcomes for all stakeholders involved. They also state that they paid close attention to a firm’s commitment to ESG and progress towards enacting effective policies and procedures. GrowthCap’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee to participate in and distribute the Top 25 Growth Equity Firms of 2021 list. Nominees were not required to be members of GrowthCap to be considered.

GrowthCap Top 25 Growth Equity Firms of 2022 Award (awarded on March 1, 2023). Recognition in the Top 25 Growth Equity Firms of 2022 list is awarded by GrowthCap, an independent, third party that is not affiliated with PSG. According to GrowthCap, awardees were selected based on a thorough evaluation of more than 1,400 nominations submitted, inclusive of feedback on partners of the firm. GrowthCap states that they focused on the firms’ abilities to consistently identify investment opportunities, create value for portfolio companies, retain talent, and optimize outcomes for all stakeholders involved. They also factored in a firm's momentum with CEO and LP communities as well as commitment to ESG. GrowthCap’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee to participate in and distribute the Top 25 Growth Equity Firms of 2022 list. Nominees were not required to be members of GrowthCap to be considered.

2023 PEI 40 Under 40: Future Leaders of Private Equity Award (awarded on May 1, 2023). The 2023 PEI 40 Under 40: Future Leaders of Private Equity list is awarded by Private Equity International, an independent, third party that is not affiliated with PSG. Over 200 nominations were reviewed and independently assessed by PEI based on their written responses to questions on PEI’s nomination form. To be eligible, nominees must be under the age of 40 on May 1, 2023 and should not have appeared in any previous PEI 40 Under 40: Future Leaders of Private Equity list. The list was decided based on three criteria: evidence of leadership and innovation; the caliber of the firms/clients nominees have worked with and any deals they have generated; and whether nominees possess an X factor that marks them out as a future leader in private equity. PEI’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. There was no fee to apply, and PSG applied to receive the award with assistance from Prosek LLC. Nominees were not required to be subscribers to PEI to be considered.

2023 PEI 300 Ranking (awarded on June 1, 2023). The 2023 PEI 300 ranking is awarded by Private Equity International, an independent, third party that is not affiliated with PSG. The ranking is based on the amount of private equity direct investment capital raised by firms between January 1, 2018, and March 31, 2023, as well as capital raised for funds in market at the end of such period. To qualify for the 2023 ranking, firms needed to raise a minimum of $2.08 billion over the past 5 years, compared with $1.85 billion last year and $1.55 billion two years ago. Companies were individually assessed by the PEI research team using proprietary data, and select firms were provided with the option to self-report / confirm metrics. Funds of funds, secondaries, real estate, infrastructure, hedge funds, debt mezzanine and PIPEs are not included in this metric. The PEI 300 is not a performance ranking, nor does it constitute investment recommendations. The number of companies reviewed for this recognition was not disclosed to PSG. PEI’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG self-reported certain metrics for this year’s award and no payment was required. Companies were not required to be subscribers to PEI to be considered.

GrowthCap Top Women Leaders in Growth Investing of 2023 Award (awarded on June 28, 2023). Recognition in the Top Women Leaders in Growth Investing of 2023 list is awarded by GrowthCap, an independent, third party that is not affiliated with PSG. According to GrowthCap, nominees were independently assessed based on their written responses to questions on GrowthCap’s nomination form and other information they provided, including on breadth of experience and performance metrics. The number of nominees reviewed for this recognition was not disclosed to PSG. GrowthCap’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee to participate in and distribute the Top Women Leaders in Growth Investing of 2023 list. Nominees were not required to be members of GrowthCap to be considered.

GrowthCap Top Software Investors of 2023 Award (awarded on September 23, 2023). Top Software Investors of 2023 recognition is awarded by GrowthCap, an independent, third party that is not affiliated with PSG. According to GrowthCap, nominees applied and were independently assessed based on their written responses to questions on GrowthCap’s nomination form and other information they provided, including on breadth of experience throughout their career. The number of nominees reviewed for this recognition was not disclosed to PSG and, therefore, it and the percentage of nominees receiving the recognition cannot be disclosed herein. GrowthCap’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee per awardee to participate in and distribute the Top Software Investors of 2023 results. Nominees were not required to be members of GrowthCap to be considered.

Inc.’s 2023 List of Founder-Friendly Investors Award (awarded on October 31, 2023). The 2023 List of Founder-Friendly Investors recognition is awarded by Inc., an independent, third party that is not affiliated with PSG. Inc. requested nominees provide them with no more than 5 entrepreneur references from founder-led, portfolio companies that PSG sponsored for at least one year following the initial investment, and Inc. independently assessed the nominees based on responses to a questionnaire by such entrepreneur references. Statements provided in such references or in connection herewith by PSG portfolio company executives are not representative of the experience of all PSG portfolio companies and their personnel with PSG. The number of nominees reviewed for this recognition was not disclosed to PSG and, therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. Inc.’s recognition is not indicative of PSG’s future performance. PSG paid an application fee to participate in this process. Nominees were not required to be subscribers to Inc. media to be considered.

GrowthCap Top 25 Growth Equity Firms of 2023 Award (awarded on January 31, 2024). Recognition in the Top 25 Growth Equity Firms of 2023 list is awarded by GrowthCap, an independent, third party that is not affiliated with PSG. According to GrowthCap, awardees were selected based on their written responses to questions provided by GrowthCap. GrowthCap states that they focused on the firms’ abilities to identify investment opportunities, create value for portfolio companies, retain talent and optimize outcomes for all stakeholders involved. GrowthCap’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee to participate in and distribute the Top 25 Growth Equity Firms of 2023 list. Nominees were not required to be members of GrowthCap to be considered.

2023 PEI Fundraise of the Year in EMEA Award (awarded on March 4, 2023). The 2023 PEI Fundraise of the Year in EMEA award is awarded by Private Equity International, an independent, third party that is not affiliated with PSG. PEI independently assessed the nominees based on responses to specific criteria provided by PEI, including significant achievements made by the nominees between October 31, 2022, and November 1, 2023. Once the shortlist winners were determined by PEI, the final winners were determined through a public vote. The number of nominees reviewed for this recognition was not disclosed to PSG, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. The award is not a performance ranking, nor does it constitute investment recommendations. PEI’s recognition is not indicative of PSG’s future performance. There was no fee to apply, and PSG applied to receive the award with assistance from Prosek LLC. Nominees were not required to be subscribers to PEI to be considered.

HEC Paris’ 2023 HEC-Dow Jones Growth Capital Performance Ranking (awarded on May 9, 2024). The 2023 HEC-Dow Jones Growth Capital Performance Ranking is awarded by the HEC Paris Business School, an independent third party that is not affiliated with PSG. According to HEC Paris Business School, in total, HEC requested and analyzed performance data from 106 Growth Capital firms and the 279 funds they raised between 2010 and 2019 with an aggregate equity volume of $172bn. From this, 73 firms met the criteria and were ranked. PE firms with average performance have a score of 0. A score of one means a firm has an aggregate performance one standard deviation above the average, or better than roughly 85% of all firms. A score of two means performance is twice as high as a firm that scores one. PSG was ranked #14 with a score of 0.86. The method is able to aggregate performance across vintage years and considers relative and absolute returns. HEC Paris Business School’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG.

GrowthCap Top Software Investors of 2024 Award (awarded on October 1, 2024). Top Software Investors of 2024 recognition is awarded by GrowthCap, an independent, third party that is not affiliated with PSG. According to GrowthCap, nominees applied and were independently assessed based on their written responses to questions on GrowthCap’s nomination form and other information they provided, including on breadth of experience throughout their career and third party feedback from portfolio company CEOs and other executives. The number of nominees reviewed for this recognition was not disclosed to PSG and, therefore, it and the percentage of nominees receiving the recognition cannot be disclosed herein. GrowthCap’s recognition is not indicative of PSG’s future performance and was not based on the evaluations of clients or investors of PSG. PSG applied to receive the award with assistance from Prosek LLC. PSG paid a fee per awardee to participate in and distribute the Top Software Investors of 2024 results. Nominees were not required to be members of GrowthCap to be considered.

Inc.’s 2024 List of Founder-Friendly Investors Award (awarded on October 29, 2024). The 2024 List of Founder-Friendly Investors recognition is awarded by Inc., an independent, third party that is not affiliated with PSG. Inc. requested nominees provide them with no more than 5 entrepreneur references from founder-led, portfolio companies that PSG sponsored for at least one year following the initial investment, and Inc. independently assessed the nominees based on responses to a questionnaire by such entrepreneur references. Statements provided in such references or in connection herewith by PSG portfolio company executives are not representative of the experience of all PSG portfolio companies and their personnel with PSG. The number of nominees reviewed for this recognition was not disclosed to PSG and, therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. Inc.’s recognition is not indicative of PSG’s future performance. PSG paid an application fee to participate in this process. Nominees were not required to be subscribers to Inc. media to be considered.

Miscellaneous

Governing Law. These Terms of Use shall be governed by the laws of the State of Delaware, without giving effect to its conflict of laws provisions. Any dispute relating to these Terms of Use shall be brought solely in the state or federal courts located in Delaware and you agree that such courts shall have jurisdiction over you in connection with any such dispute.

Term for Cause of Action. Regardless of any statute or law to the contrary, you must commence any cause of action you may have with respect to your use of the Website within one (1) year after the claim or cause of action arises.

Severability and Waiver. If, for any reason, a court of competent jurisdiction finds any provision in these Terms of Use to be unenforceable, such provision shall be enforced to the maximum extent permissible so as to effect the intent of these Terms of Use, and the remainder of these Terms of Use shall continue in full force and effect. Our failure to act with respect to a breach of these Terms of Use by you or others does not constitute a waiver and will not limit our rights with respect to such breach or any subsequent breaches.

Arbitration. By using the Website, you agree that we, at our sole discretion, to the maximum extent permitted by applicable law, may require you to submit any disputes arising from the use of the Website, related services or these Terms of Use, including disputes arising from or concerning their interpretation, violation, nullity, invalidity, non-performance or termination, as well as disputes about filling gaps in this contract or its adaptation to newly arisen circumstances, to final and binding arbitration under the International Rules of Arbitration of the American Arbitration Association (the “Rules”), by one or more arbitrators appointed in accordance with the said Rules and to be held in the State of Delaware. Notwithstanding these Rules, however, such proceeding shall be governed by the laws of the State of Delaware. Arbitration costs and reasonable documented attorneys’ costs of both parties shall be borne by the non-prevailing party.

Entire Agreement. Other than with respect to Other Agreements and Other Terms of Use, these Terms of Use constitute the entire agreement between you and PSG regarding the subject matter hereof and govern your use of the Website, superseding any prior agreement between you and PSG on this subject.

Contact. If you have any questions or comments or need to provide us notice of any sort related to these Terms of Use, you may contact us in the following ways:

Mailing Address: PSG Equity L.L.C., 401 Park Drive, Suite #204, Boston, MA 02215, U.S.A.

Email Address: info@psgequity.com

Phone Number: +1 (617) 544-8800