This morning it was announced that Avalara (AVLR) is being acquired by Vista Equity Partners for $93.50/share in cash, representing a 27% premium to the closing price on July 6th, the last trading day prior to media reports regarding a potential transaction. AVLR represents 4.7% of Fund capital.
We started a position in AVLR in Q1 2022. We have followed the company since its IPO in 2018 and have always appreciated its predictable recurring subscription revenue stream, its cash-rich balance sh