Vector Capital has agreed to acquire SingleStore, a San Francisco-based database software company backed by Google, Dell, and IBM, in a growth buyout valued at around $500m in equity commitments, according to Bloomberg.

The deal, confirmed Wednesday, comes after SingleStore reported $123m in annual recurring revenue for Q2 2025, a 23% increase year-on-year, with more than $150m in cash reserves. The company was last valued at $1.3bn in a Goldman Sachs-led round in 2022.

Existing backers, including Google Ventures, Dell Technologies, IBM, RELX’s REV Venture Partners, Adams Street Partners, JPMorgan Asset Management, and Goldman Sachs Asset Management, will remain investors alongside Vector.

“Venture buyouts” have become a strategic focus for Vector as it looks to back high-quality software firms whose valuations were inflated during the 2021–2022 investment boom but still present long-term growth opportunities. 

“A big part of the strategy at Vector is to focus on venture buyouts,” said Amish Mehta, Vector’s CIO and managing director. He described such companies as “silver medalists” in VC portfolios where value can still be unlocked.

Vector has been active in consolidating software firms, completing the take-private of Bigtincan in April and agreeing to acquire Showpad last month, with plans to merge the two.

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