Private company

VistaOne, L.P.

VistaOne, L.P. is an American investment advice company based in San Francisco.1

Last updated Oct 20, 2026.

Overview

$140.6MNet income, fiscal 20252
  • IndustryInvestment Advice1
  • HeadquartersSan Francisco, California1
  • Incorporated inDE3
  • Business addressFour Embarcadero Center, 20Th Floor, San Francisco, Ca 941113
  • Filer category, Emerging growth company3
  • Legal formLimited Partnership
  • Kind of organizationPrivate equity fund1

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Fiscal year20242025
Net income$140.6M2

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Corporate structure

VistaOne, L.P. sits at the top of its group. 5 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • VistaOne, L.P. San Francisco, California
    • VistaOne Aggregator II, L.P. Subsidiary · Cayman Islands
    • VistaOne Aggregator III, L.P. Subsidiary · Cayman Islands
    • VistaOne Intermediate Holdings, L.P. Subsidiary · Cayman Islands
    • VistaOne Liquidity Aggregator, L.P. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What VistaOne, L.P. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$369.3M2 Dec 31, 2025$100.0K2 Dec 31, 2024+369232.8%

Properties, in its own words

The Fund does not own any real estate or other physical properties materially important to its operations. The corporate headquarters are located at 401 Congress Avenue Suite 3100, Austin, Texas 78701 and are provided by the General Partner and the Manager. Vista believes that our office facilities are suitable and adequate for our business as it is contemplated to be conducted.

Item 2 of the 10-K filed Mar 20, 2026.9

Leadership

Who has led VistaOne, L.P., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Maneet S. Saroya2025–now

President

  1. Ashley Macneill2025–now
  2. Daniel Parant2025–now

Chief financial officer

  1. Rohan Ranadive2025–now

Chief operating officer

  1. Juan Andres Ugarte2025–now
Board members and other officers (15)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorDavid Andrew Breach named Sep 14, 202628
  • Executive OfficerRobert F. Smith named Sep 14, 202628

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • VistaOne Aggregator II, L.P. Cayman Islands4
  • VistaOne Aggregator III, L.P. Cayman Islands4
  • VistaOne Intermediate Holdings, L.P. Cayman Islands4
  • VistaOne Liquidity Aggregator, L.P. Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 29, 20268-K Unregistered sale of shares; Other events29
  2. Sep 1, 20268-K Unregistered sale of shares30
  3. Aug 28, 20268-K Other events31
  4. Jul 29, 20268-K Unregistered sale of shares; Other events32
  5. Jun 30, 20268-K Unregistered sale of shares33
  6. Jun 29, 20268-K Other events34
  7. May 27, 20268-K Unregistered sale of shares; Other events35
  8. Apr 29, 20268-K Unregistered sale of shares; Other events36
  9. Apr 6, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares37
  10. Mar 27, 20268-K Unregistered sale of shares; Other events38
  11. Mar 4, 20268-K Unregistered sale of shares; Other events39
  12. Jan 28, 20268-K Unregistered sale of shares; Other events40
  13. Apr 3, 2025New chief executive Maneet S. Saroya becomes CEO10

Filings

84 filings to the SEC since October 2021: 1 annual reports, 5 quarterly reports, 21 major events, 38 insider forms, 4 private raises, 15 other. The latest 20:

  1. Sep 29, 20268-K EDGAR
  2. Sep 14, 2026D/A EDGAR
  3. Sep 1, 20268-K EDGAR
  4. Aug 28, 20268-K EDGAR
  5. Aug 18, 20263 EDGAR
  6. Aug 12, 202610-Q EDGAR
  7. Jul 29, 20268-K EDGAR
  8. Jun 30, 20268-K EDGAR
  9. Jun 29, 20268-K EDGAR
  10. Jun 1, 20268-A12G EDGAR
  11. Jun 1, 20264 EDGAR
  12. May 27, 20268-K EDGAR
  13. May 13, 202610-Q EDGAR
  14. Apr 29, 20268-K EDGAR
  15. Apr 6, 20268-K EDGAR
  16. Apr 1, 2026D/A EDGAR
  17. Mar 27, 20268-K EDGAR
  18. Mar 20, 202610-K EDGAR
  19. Mar 4, 20268-K EDGAR
  20. Jan 30, 20264 EDGAR

The 84 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Apr 1, 2025Raised $1.6 billion in a private offering of securities Form D: 4,159 investors so far Form D

SEC filer profile

How VistaOne, L.P. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARVistaOne, L.P.1
  • CIK0002044820
  • Employer ID (EIN)33-13868829
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company9
  • Incorporated inDelaware9
  • Fiscal year endsDecember 311
  • Industry code (SIC)6282 Investment Advice1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business addressFour Embarcadero Center, 20Th Floor, San Francisco, CA 941111
  • Phone(415) 765-65001
  • Shares outstanding8,910,249 Class AB Units shares; 785,642 Class AD Units shares; 26,123,309 Class AI Units shares; 9,414,854 Class AS Units shares; 400,624 Class E Units shares as of Feb 28, 20269
  • Public float$0 as of Dec 31, 20252
  • AuditorDeloitte & Touche LLP, Austin, Texas PCAOB ID 34; no auditor attestation of internal control over financial reporting9
  • On EDGAR sinceDec 9, 20241
  • Filings84 in all: 4 (21), 8-K (21), 3 (17), 10-Q (5), UPLOAD (5), 10-12G/A (4), CORRESP (4), D/A (3)1
    All 12 form types

    10-12G (1), 10-K (1), 8-A12G (1), D (1)

  • Latest filingsAnnual report (10-K) Mar 20, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Latest 8-K (8-K) Sep 29, 2026

Risk factors and legal proceedings

The risks VistaOne, L.P. names in Item 1A of its 10-K filed Mar 20, 2026: 78 risks under these headings, as written.9

  • RISKS RELATED TO THE BUSINESS AND FUND STRUCTURE
  • The Fund’s future performance may not match past results of the Fund or other Vista Entities due to various factors, potentially leading to lower or different returns for Unitholders compared to historical performance of the Fund or other Vista Entities; furthermore the Fund’s past performance may not be indicative of its own future performance.
  • The Fund may not successfully select, invest in, or realize returns from its investments, potentially resulting in no returns for Unitholders.
  • The Fund's investments are based on uncertain projections and estimates, which may be affected by unforeseen events or conditions, potentially resulting in actual returns that differ from expected rates.
  • The Fund was recently formed and has limited operating history.
  • The General Partner may depart from its core investment strategy, process or technique as it deems appropriate.
  • Compensation to the Sponsor and affiliates is based on Transactional NAV and depends partly on the Sponsor’s valuation of investments, which may give rise to potential conflicts of interest between the Sponsor’s responsibilities to the Unitholders and its financial incentives.
  • The Fund has certain reporting obligations not applicable to private companies. The Fund will need to make significant capital expenditures to be in compliance with certain regulations not applicable to private companies. Failure to comply with such regulations may have an adverse effect on the Fund.
  • Vista, the General Partner and the Manager may modify their policies and procedures and may restrict the Fund’s activities.
  • Unitholders do not have control or influence over the Fund’s investments, conduct or affairs, making the Fund's success dependent on the expertise and retention of key personnel.
  • The Fund has significant liquidity requirements, and adverse market and economic conditions may adversely affect the Fund’s sources of liquidity, which could adversely affect the Fund’s business operations in the future.
  • Cyber-attacks and identity theft could result in the loss of data, interruptions in the Fund’s business and damage to the Fund’s reputation, and subject the Fund to regulatory actions, increased costs and financial losses, each of which could have a material adverse effect on the business and results of operations of the Fund.
The other 67 risks
  • The Fund may incur indemnification liabilities for executive officers, directors and employees of the Fund, the General Partner and the Manager.
  • The Fund can be subject to litigation and investigations that may be costly and divert resources and attention from the Fund’s key personnel.
  • If the Fund is unable to meet its obligations, the Unitholders may lose their investments.
  • The Fund may be subject to potential liability from serving on the boards of Portfolio Companies.
  • The Fund’s assets may be used to satisfy the Fund’s liabilities.
  • The General Partner and/or its affiliates may withhold certain information from the Unitholders, which may have potentially adverse consequences for Unitholders.
  • Vista Capital Markets’ activities, including underwriting and private placements, may create conflicts of interest, compensation incentives and potential restrictions on Fund investments.
  • The Fund’s structure may not suit all investors and could lead to additional taxes and other costs.
  • Possession of material, non-public information may restrict the Fund’s ability to trade certain investments.
  • The Fund faces risks relating to AI Technologies.
  • Unitholders have limited voting and governance rights.
  • The Fund LPA designates Delaware state and federal courts as the exclusive venues for disputes related to the Fund LPA and federal securities laws, potentially subjecting the Fund to additional costs and resource diversion if the provision is challenged and found unenforceable.
  • The Fund LPA includes a jury trial waiver that could limit the ability of Unitholders to bring or demand a jury trial in any claim or cause of action arising out of or relating to the Fund LPA, or the business or affairs of the Fund.
  • RISKS RELATED TO THE FUND’S INVESTMENTS
  • The Fund may face broad risks not described in this Annual Report.
  • Competition for investments and overlapping investment objectives with other Vista PE Funds may limit the Fund’s opportunities and returns.
  • Due diligence failures and adverse conduct of Portfolio Companies may subject the Fund to loss on investments and legal liability.
  • Actual results of investments may differ significantly from projections.
  • Investments involving non-controlling interests and joint ventures may result in reduced control, potential conflicts of interest, disproportionate expenses and disputes or misconduct.
  • The General Partner and the Manager may have limited information in expedited transactions.
  • The Fund may make a limited number of investments or investments that are concentrated in certain portfolio companies, geographic regions, asset types or sectors, which could negatively affect the Fund’s performance to the extent such concentrated investments perform poorly.
  • The Fund’s investments are concentrated in the software sector and subject to sector-specific risks and potential volatility, including those relating to the proliferation of AI Technologies.
  • Investments in growth-equity opportunities may involve a heightened business and financial risk that can result in substantial or total loss.
  • Investments in emerging growth software companies may be riskier due to their unproven management, intense competition and susceptibility to macroeconomic effects.
  • Competition in the technology sector and rapid technological change may require Portfolio Companies to make costly upgrades and respond to pricing pressures, potentially impacting their profitability and the Fund’s performance.
  • Investments in artificial intelligence may expose the Fund to specific risks from rapid innovation, intellectual property challenges, high research and development costs, regulatory changes and flawed algorithms.
  • Investments in companies with exposure to Digital Assets (as defined below) carry distinct market, operational, legal and regulatory risks that potentially impact their valuation, operations and financial performance.
  • Investment in junior securities are generally not secured and thus subject to the greatest risk of loss.
  • The Fund may be unable to find a sufficient number of opportunities that meet its investment objectives.
  • The Fund has acquired and expects to continue to acquire Warehoused Assets at varying valuations and may incur additional costs and/or require financing.
  • Portfolio Companies’ success depends on management performance and accuracy of financial projections.
  • The Fund may not be able to successfully identify and implement operating improvements in Portfolio Companies.
  • Investments in Portfolio Companies experiencing or expected to experience financial difficulties, or that otherwise may become distressed, may ultimately cause such Portfolio Companies to become subject to bankruptcy proceedings.
  • Investments in distressed companies face heightened risk of bankruptcy proceedings and may result in partial or total loss.
  • Investments in smaller or less established companies carry increased uncertainty and potential for loss due to their instability, limited resources and uncertain projections.
  • The Fund’s toehold investments are subject to the risk of losses due in part from minority positions, quick disposals and less liquid securities.
  • Due to the nature of our investments, Unitholders have limited liquidity and may not result in rates of return that are equal to or better than the average rate of return on investments in other private investment funds or asset classes.
  • Investments in privately held companies carry a high degree of business and financial risk.
  • Investments in publicly held companies involve potentially greater valuation volatility, disclosure obligations, timing limitations on acquisitions or dispositions and litigation costs.
  • The Fund’s minority investments may limit its influence and liquidity, and the Fund may not be able to effect timely or value-maximizing exit strategies or benefit from sufficient protections.
  • The Fund’s investments alongside third parties for minority investment may limit its ability to protect the value of its investment and may be liable for third-party investors’ actions.
  • The Fund’s controlling investments may create additional liability and expose assets of the Fund to claims by portfolio companies, their shareholders and their creditors.
  • The Fund’s ability to provide follow-on investments in a Portfolio Company is uncertain and if not provided may result in lost opportunities, ownership dilution, unfavorable financing terms and other negative impacts on the Portfolio Company.
  • Any decision not to make follow-on investments alongside a relevant Vista PE Fund may result in a lost opportunity for the relevant Vista PE Fund, the Fund’s follow-on investments and/or a substantial negative effect on the Portfolio Company in need of such an investment.
  • The Fund has established and is expected to continue to establish holdbacks or reserves and the amount of such holdbacks or reserves can be inadequate or excessive which can impact the Fund’s ability to participate in investments, including with respect to follow-on investments.
  • The Fund may pledge its assets to support related entities and the General Partner and/or Manager may assist Vista Entities which may cause conflicts of interest.
  • The Fund’s investments in non-U.S. portfolio companies carry risks not typically associated with investing in U.S. securities and may adversely affect investment returns.
  • The Fund’s use of Trust Arrangements for non-U.S. investments may give rise to certain risks and conflicts of interest.
  • The Fund may invest in emerging markets that involve additional risks and considerations not typically associated with investing in more established markets.
  • The Fund and/or its subsidiaries expect to enter into one or more asset-backed or net asset value facilities, amplifying risks relating to the Fund’s use of leverage.
  • The Fund’s use of leverage may amplify losses, increase costs and limit cash flow, with potential to trigger cross-collateralization or cross-default provisions that negatively affect the value of investments.
  • Cross-collateralization or similar arrangements with other Vista Entities may expose the Fund to losses resulting from defaults and disproportionate liabilities in shared financings.
  • The Fund’s use of preferred financing arrangements or margin loans may reduce returns and increase financial risks.
  • The Fund’s leverage ratio may exceed the 30% target if investment values decline and potentially limit future financing options.
  • The Fund’s use of investment vehicles for financing or restructuring may create exposure to risks such as increased borrowing costs, potential margin calls, and delayed or reduced distributions.
  • Pooling investments with other Vista Entities may expose Unitholders to risks such as potential conflicts of interest, subjective asset valuations, and lower returns due to the performance of assets contributed by other Vista Entities.
  • Reliance on Benchmark Rates may subject the Fund to certain material risks associated with important market participants transitioning away from their use.
  • Providing interim financing to Portfolio Companies may expose the Fund to risks such as the potential for bridge loans to remain outstanding and the possibility that the interest rates or terms may not adequately reflect the associated risks.
  • Assuming or acquiring Portfolio Companies with contingent liabilities may expose the Fund to material risks.
  • The Fund and the General Partner may face risks and contingent liabilities for inaccurate disclosures made in connection with disposition of a portfolio investment.
  • Hedging techniques employed by the Fund may introduce counterparty, regulatory and liquidity risks that could potentially reduce Fund performance in unexpected market conditions.
  • Investing in derivatives may expose the Fund to substantial risks, including counterparty credit risk, leverage risk, and regulatory compliance costs.
  • Investments in debt securities carry credit and interest rate risks.
  • The investment characteristics of asset-backed securities and mortgage-backed securities differ from traditional debt securities and may involve greater credit risk of default than the senior classes of the issue or series.
  • The Fund may face significant losses if commercial mortgage borrowers default on nonrecourse loans, as repayment depends on the availability of refinancing or property sale.
  • The Fund may incur losses on ABS due to the lack of security interest in underlying collateral, potential debtor protections under consumer credit laws.
  • The Fund may invest in RMBS, which are subject to various risks including defaults, foreclosure delays, fraud, home price depreciation, and unfavorable loan modifications.
  • The Fund’s investments in CLOs and other securitizations are subject to significant risks, including reliance on distributions from underlying assets for payment, lack of direct rights against issuers, and exposure to various market, credit, and liquidity risks.

Legal proceedings

From time to time, the Fund may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with Portfolio Companies in which the Fund has an interest. The Fund may also be subject to regulatory proceedings. As of December 31, 2025, the Fund is not subject to any material legal proceedings.

The opening of Item 3, Legal Proceedings.9

Sources

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    SEC EDGAROther events
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    SEC EDGAROther events
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