Episode

Key Takeaways

Turnriver Capital applies a proprietary "growth engineering" strategy to unlock revenue growth in software businesses.
The firm prioritizes operational expertise, employing a structure that emphasizes operators over traditional investors.
Matt Amiko, a partner, joined Turnriver after experiences in investment banking and hedge fund management.
Turnriver's global investment approach targets specific market inefficiencies, leading to significant revenue acceleration.
The firm transformed Redwood Software from a low double-digit million-dollar business to over $200 million in four years.

Turnriver Capital, founded by Dom, addresses a market gap for profitable software businesses overlooked by traditional VC or PE.
The firm's "growth engineering" strategy systematically unlocks revenue growth through operational expertise, not just financial engineering.
GrowthCap recognized Turnriver as a top private equity firm of 2025 and a top growth equity firm of 2024.

Matt Amiko began his career in investment banking at Goldman Sachs before moving to Skybridge Capital, a hedge fund.
At Skybridge, he gained experience in manager selection, business development, sales, and investor relations.
After opening Skybridge's European office in London, Amiko was introduced to Turnriver partner Evan Ginsberg and joined the firm in San Francisco at the end of 2017.

Turnriver Capital's investment strategy is global, flexible in deal size, and focuses on large, growing markets.
The firm targets businesses with good products but friction in distribution or go-to-market strategies that their operational playbooks can resolve.
Companies invested in by Turnriver typically double their revenue growth rate within 9-12 months and increase their revenue base by three to four times over a four-year period.
This approach was applied to companies like SolarWinds, Mailgun, Invicti, and Redwood, identifying and rectifying built-up inefficiencies.

Turnriver transformed Redwood Software, initially known as Active Batch, from a low double-digit million-dollar business.
Within 18 months, Redwood achieved significantly higher growth and EBITDA margins by improving customer engagement, sales processes, and onboarding.
Over four years, the business grew from low double-digit millions to over $200 million through strategic acquisitions and partnerships.

Matt Amiko cites Turnriver partner Dominic as a significant influence, highlighting his visionary approach to software investment and dedication.
His parents are credited for instilling confidence and providing opportunities that enabled him to take career risks.
Turnriver Capital actively supports education, adopting Bessie Carmichael high school with financial contributions and volunteer work to equalize opportunity.