Avance Investment Management

Canaccord Genuity Advises Avance Investment Management on its Strategic Investment in Clevertech

Partnership Enhances Clevertech’s Growth Trajectory and Execution of Leading RemoteNative™ Platform to Support End-to-End Digital Product Development

Canaccord Genuity is pleased to announce it has advised Avance Investment Management, a leading investment firm that partners with founder-owned businesses, on its strategic investment in Clevertech Partners LLC, a premier provider of end-to-end digital product development and complex digital transformation execution for select venture-backed organizations, private equity-sponsored firms, and large and mid-size enterprises.

Founded in 2000 with the goal of bringing a new execution modality to large scale software engineering engagements for startups, private equity-backed businesses, and large and mid-size enterprises, Clevertech has established itself as the partner of choice for a wide range of leading organizations. Clevertech provides clients with a portfolio of diversified offerings in the software development and digital transformation arena to solve critical and complex challenges. Using its RemoteNative™ delivery model, Clevertech brings a differentiated and global perspective to some of the hardest problems facing the C-suite today.

The transaction, which was completed in recent months, will enhance Clevertech’s growth trajectory and strategy, strengthening its best-in-class offerings to further support leading platforms, growth equity firms, and blue chip enterprises that are executing their digital transformation journeys. The existing Clevertech management team will continue to lead the business, as the company expands its footprint and innovates its suite of services across North America and Western Europe. Clevertech is headquartered in New York.

Avance is a private equity firm with a passion for building great businesses in partnership with talented management teams. Avance focuses primarily on thematic investments within the Services, Technology, and Consumer areas in the US, seeking attractive opportunities with catalysts for growth and fragmented spaces with consolidation opportunities. Avance’s team has a long history of partnering with founder-owned businesses, industry executives, and management teams and aims to add value to each investment. Avance has offices in New York and Miami.

Canaccord Genuity, with a team led by Ben Lunka, Sanjay Chadda, and Rohan Sura, served as a financial advisor to Avance.