Synova opens US office, appoints Summit's Usher

Kenny Wastell
@kennywastell
07 November 2017

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Synova Capital has opened a New York office to support its portfolio companies' expansion into the US market.

The GP has appointed Summit Partners' Thomas Usher as investment manager to lead the US operations, alongside senior adviser Steve Butterworth.

Usher leaves his role at Summit Partners after four years with the firm, during which he focused on technology investments and supporting European portfolio companies in their plans to expand into the US market. Prior to joining Summit, he spent a year as an analyst at Boston-based growth capital firm Volition Partners.

Butterworth was formerly president and CEO of US operations at private-equity-backed legal software developer BigHand, which he left in 2012 in order to relocate to the UK. Since leaving BigHand, he has advised UK tech businesses on expanding their US sales activities.

The development comes 22 months after Synova closed its third fund on its hard-cap of £250m after less than three months on the road. Most recently, the fund acquired a majority stake in application performance monitoring software business Syslink Group as part of an all-equity management buyout in September 2017.