Key Takeaways
- • Siris Capital has launched October Capital, a West Palm Beach, Fla.-based private equity firm focused on services businesses that help enterprises adopt and scale new technologies.
- • Co-founder Frank Baker serves as CEO and managing partner of October Capital, which employs 16 investment professionals, with one more starting in January.
- • October Capital has completed one deal, energy industry services provider Takkion, and signed two more: pension automation and digital payments provider EQ Retirement Solutions and loan servicing software provider Lenvi, both expected to close in November.
- • The fund size was not disclosed.
- • Siris Capital, founded in 2011, has deployed more than $9.5 billion of equity, including over $3 billion in services businesses.
Summary
Siris Capital has created October Capital, a private equity firm headquartered in West Palm Beach, Florida, that targets services businesses helping enterprises adopt and scale new technologies. Siris co-founder Frank Baker is CEO and managing partner of the new firm, which has 16 investment professionals, including one who is scheduled to start in January. The firm did not disclose its fund size.
According to the original report, October Capital's mandate centers on services supporting the buildout of AI infrastructure and the transformation of physical security and financial infrastructure, including digital assets. The firm has completed one investment, in energy industry services provider Takkion, and has signed two additional deals. These are pension automation and digital payments provider EQ Retirement Solutions and loan servicing software provider Lenvi, both of which are expected to close in November.
The launch reflects Siris Capital's broader focus on services. Siris, founded in 2011, has deployed more than $9.5 billion of equity, of which more than $3 billion has gone into services businesses. October Capital extends that strategy into a dedicated vehicle for technology-enabling services.
According to the original report, October Capital's mandate centers on services supporting the buildout of AI infrastructure and the transformation of physical security and financial infrastructure, including digital assets. The firm has completed one investment, in energy industry services provider Takkion, and has signed two additional deals. These are pension automation and digital payments provider EQ Retirement Solutions and loan servicing software provider Lenvi, both of which are expected to close in November.
The launch reflects Siris Capital's broader focus on services. Siris, founded in 2011, has deployed more than $9.5 billion of equity, of which more than $3 billion has gone into services businesses. October Capital extends that strategy into a dedicated vehicle for technology-enabling services.
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