IRR
+5%
Multiple
1.15x
DPI
0.10x
Size
$16B
Vintage
2019
RETURN GRADE:MEDIOCRELOW DISTRIBUTIONS
MARK VS PUBLIC MARKET
How does the GP's self-reported return compare to simply buying the S&P 500 at the same vintage?
Vista Fund VII
+5% IRR
~+41% total return over 7 yrs
S&P 500 (2019 vintage)
+110%
Total return, 2019 to present
VERDICT: GP marks trail the S&P 500 by ~69pp. LPs paid 2/20 for underperformance.
Notes
Enterprise software focus. Struggling with post-COVID software valuation reset. Revenue multiples compressed 40%+.
Other Vista Equity Funds (1)
ALL RETURNS ARE SELF-REPORTED BY GP MARKS — NOT AUDITED, NOT MARK-TO-MARKET