HCAP Partners Announces Successful Exit of Equity Investment in Saphyre
Strategic investment supported multi-year growth and global scale-up of leading AI fintech platform.
SAN DIEGO, CA (August 14, 2025) – HCAP Partners, a California-based private equity firm and nationally recognized impact investor, today announced the successful exit of its equity ownership position in Saphyre, Inc., a leading AI-driven fintech platform for pre-trade and post-trade automation. Saphyre recently secured a $70 million growth equity investment led by FTV Capital, marking a new chapter in the company’s growth journey.
Founded to modernize the financial industry's most complex pre- and post-trade processes, Saphyre has rapidly expanded its client base across the U.S. and Europe, serving top-tier asset managers, custodians, broker-dealers, and administrators. Its patented AI platform accelerates time-to-trade, reduces operational risk, and delivers seamless client onboarding and lifecycle automation.
HCAP Partners first invested in Saphyre in 2021 as the company’s lead institutional investor in a Series A round with J.P. Morgan and BNP Paribas participating in the round. Over the course of the partnership, Saphyre achieved significant milestones, including a dramatic rise in recurring revenue, an expanded leadership team, and a highly engaged board of directors. Through the investment, Saphyre experienced substantial expansion and a significant increase in recurring revenue.
“This marks a major milestone for the Saphyre team, and we’re very pleased with the outcome for the company and its shareholders,” said Tim Bubnack, Managing Partner at HCAP Partners. “We appreciate the dedication and hard work of Saphyre’s employees, leadership team, board of directors, and strategic advisors who contributed to this success. We look forward to seeing Saphyre continue driving innovation in pre- and post-trade operations.”
HCAP played a key role in supporting Saphyre’s expansion, working closely with the leadership team to strengthen operations, attract top talent, and build a world-class governance structure. Tim Bubnack led the investment and served on Saphyre’s Board of Directors, with Chenjing Wang, Senior Associate at HCAP, serving as an observer to the Board.
About Saphyre
Saphyre leverages AI technology to digitize all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, client firms to broker-dealers and custodians, and much more. Saphyre’s platform maintains memory of data and documents, resulting in clients not having to search or resubmit information, and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry. This allows firms not only to assess risk faster, but also to speed up their onboarding processes, get real-time ready-to-trade statuses per account, and eliminate up to 75% of redundant or inefficient post-trade activities.
About HCAP Partners
HCAP Partners is a private equity firm specializing in providing mezzanine debt and private equity for underserved, lower-middle market companies throughout the United States. The firm seeks to invest $5 million to $35 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since its founding and, through active engagement with portfolio companies, provides value-added resources to help optimize performance and increase enterprise value. The firm has been an Impact Assets 50 fund since 2014 and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities. For more information, please visit www.hcap.com.
