WestCap

WestCap Group / WestCap Investment Partners LLC is a U.S.-based growth-equity firm with approximately USD 7 to 9 billion in assets under management, founded in 1997 as Weston Capital Partners (the personal investment vehicle of founder Laurence A. ''L.T.'' Tosi) and institutionalised as WestCap Investment Partners LLC following the 2018 close of its first institutional fund, with offices in San Francisco, New York, and London. Founder and Managing Partner Laurence Tosi was previously COO of Global Investment Banking and Trading at Merrill Lynch (2004-2008), Chief Financial Officer and Management/Risk Committee Member of The Blackstone Group (2008-2015, where he led the Tech Innovations Fund and Blackstone Treasury Solutions Fund), and Chief Financial Officer and Head of Payments, Customer Experience, and Corporate Development at Airbnb (2015-2018). WestCap characterises itself as an ''operating equity firm'' investing at the inflection point between late-stage VC and traditional PE, focused on technology and marketplace businesses, with a limited-partner base including Caisse de depot et placement du Quebec. Notable portfolio investments include Airbnb (early investor), StubHub, Ipreo, Addepar, Hopper, iCapital, SIMON Markets, GoodLeap, NYDIG, Skillz, Point, FLYR, Peek, Human Security, Found, Preply, and Deep Sky (carbon capture co-founded by Tosi). WestCap Strategic Operator Fund I has reported a 214% Net IRR. The old description's framing as a real-estate manager is entirely incorrect aEUR" WestCap is a technology-focused growth-equity firm.