Who owns AvidXchange Holdings, Inc. (via a limited partnership formed with TPG)

AvidXchange Holdings, Inc. (via a limited partnership formed with TPG) - Profile

AvidXchange sells accounts payable automation software and payment services to middle market businesses, replacing paper invoice and cheque processes with a hosted platform that captures invoices, routes them for approval and pays suppliers electronically. Based in Charlotte, North Carolina and trading for more than 25 years, it handles payables workflows for over 8,500 businesses and has paid more than 1.35 million supplier customers of those buyers in the past five years, with industry specific versions for real estate, construction, financial services, healthcare and other sectors. The company listed on Nasdaq in 2021 and was taken private on 15 October 2025 at 10.00 dollars a share in a deal valuing it at about 2.2 billion dollars, with TPG Capital taking the majority interest and Corpay a minority one.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• Corpay, Inc., as of 1 Oct 2025. In May 2025, Corpay and TPG formed a limited partnership that, through wholly owned subsidiaries, agreed to acquire AvidXchange Holdings, Inc. (formerly NASDAQ: AVDX), a provider of accounts-payable automation software. The take-private transaction closed in October 2025. Corpay invested approximately $578 million for approximately 35% of the equity of the limited partnership, at an enterprise valuation of approximately $1.9 billion; the LP used approximately $450 million of debt financing. Corpay does not control the LP and accounts for its interest as an equity-method investment under ASC 323. Corpay has the right, 33 months after closing, to call all remaining outstanding LP equity for approximately 2.5x invested capital, which would trigger consolidation; if it does not exercise that right and TPG sells the LP within 15 months thereafter, Corpay must guarantee partners a minimum return of approximately 1.6x invested capital (waived if AvidXchange is sold in 2029 at a similar valuation to the acquisition). No share count applies because the instrument is an LP equity interest, not AvidXchange common stock, which no longer trades. The $578 million figure is the as-invested cost (Oct 2025); no separate current carrying value is disclosed for this position alone. The Q2 2026 10-Q discloses a combined 'carrying amount of investments (including equity method investments) without readily determinable fair values' of $601.9 million at 31 Dec 2025 and $576.2 million at 30 Jun 2026, which the Company recognized net losses on of $22.7 million for the six months ended 30 Jun 2026 (was $60.1 million at 31 Dec 2024, before the AvidXchange close, confirming this balance also includes other, smaller cost-method investments pre-dating AvidXchange). Per the project rule against assigning a combined balance to one investee, this combined figure is not used to size AvidXchange; only the as-invested $578 million cost is reported. sourcesource 2