Q4 B2B Distributor Tech Investments
Over 40% YoY Increase and our Top Article from 2024
Hi everyone,
Q4 finished on a high note for B2B Distributor tech investments – finishing the year with 7 total tech investments, including 2 from Applico Capital!
Tied for Most Distributor Tech Investments
The seven minority investments totaled about $68M in equity capital raised. Not all that money came from distributors as there were co-investors who also participated in the fundraises.
We include Applico Capital’s tech investments in the tally because all of our capital comes from you – the distributors! With over 10 multi-billion dollar B2B Distributor strategics as LPs, our fund is purpose built to invest in technology that will help B2B distributors.
Q4 tech investments made by a B2B Distributor tied the Q2 record of 7 tech investments. A strong performance and finish to 2024 after Q1 and Q3 only having 3 tech investments.
In Q4, we saw tech investments by the following distributors:
Dealer Tire
McKesson
Cemex
Heidelberg Materials
ThermoFisher
And, Applico Capital x2 !
43% YoY Increase in Distributor Tech Investments
From 14 in 2023 to 20 in 2024, Distributor Tech Investments increased by over 40% YoY. Applico’s tech investments stayed the same at 3 each year.
All Investments, No M&A.
We had a decent amount of tech M&A earlier in 2024 - but nothing this past quarter.
B2B Marketplace Breakout in H2 ‘24
The ServiceTitan IPO gave an all-star finish to the 2nd half of 2024 for our Top 50 B2B Marketplaces. Even without the IPO, H2 ‘24 would’ve had a strong performance. However, including the IPO, aggregate funding for Top 50 B2B Marketplaces was close to $1B across 10 deals.
Stay tuned for our upcoming Top 50 B2B Marketplace 2025 Report!
Top Article 2024:
Manufacturing the Resurgence of Manufacturing
Runner Up: Epicor’s Acquisition of Kyklo