Back-office software maker Docupace says Genstar Capital has made a majority investment in the firm for an undisclosed sum. FTV Capita, which invested in Docupace in 2020, will remain a minority investor.
"We are excited to welcome Genstar as a strategic investor as we further improve the operational experience for clients, financial advisors, their staff, and home office team members," said Docupace CEO David Knoch, in a statement.
The Homdel, New Jersey-based firm made two acquisitions in 2021 that expanded its work into compensation, compliance and digital client data gathering. Today, Docupace software is used daily by independent broker-dealers and RIAs to open close to 10,000 new client accounts and process over 130,000 electronic documents, according to the firm.
