First-of-its-kind partnership will provide FTV and its portfolio companies with comprehensive access to leading mental health and wellbeing programs
SAN FRANCISCO & RUTHERFORD, Calif.--(BUSINESS WIRE)--Oct. 10, 2024--
FTV Capital, a leading sector-focused growth equity firm, and One Mind at Work, a global nonprofit dedicated to building the future of workforce mental health, today announced a first-of-its-kind partnership to advance mental health and wellbeing within high-growth companies in the FTV portfolio. The expanded partnership coincides with World Mental Health Day, which is highlighting workplace mental health as its official 2024 theme.
Over the course of two years, FTV will sponsor One Mind at Work memberships for its diverse portfolio of high-growth companies, allowing participants to benefit from One Mind at Work’s comprehensive and high-touch membership model with a focus on improving outcomes, innovating new solutions and driving measurable impact. As part of this effort, a dedicated One Mind at Work member engagement leader will collaborate closely with FTV and each participating portfolio company, creating continuity and establishing opportunities to share information and best practices between companies. Participants will also gain access to leading subject matter experts in global mental health, organizational psychology and neuroscience.
One Mind at Work is an initiative of One Mind, a leading mental health non-profit that heals lives by direct support for neuropsychiatric brain research. The FTV partnership advances its three-pronged program strategy of accelerating discoveries, improving services and transforming culture.
"By sponsoring membership to One Mind at Work for its portfolio companies, FTV is setting a new standard for how investment firms can more comprehensively and systematically support the success of growth-stage companies,” said Garen Staglin, chairman and co-founder of One Mind and a longtime member of FTV’s Strategic Advisory Board. “This commitment to mental health and well-being accelerates the positive impact these companies can have as employers and highlights FTV as a leader in driving meaningful change across an industry. We are proud to partner with FTV in creating workplaces where people and performance thrive and hope this new partnership will inspire other investment managers to take similar action.”
The partnership will also drive voluntary participation in One Mind at Work’s Mental Health at Work Index, a standardized assessment of organizational-level initiatives and advice library that provides recommendations and resources to drive data-driven strategic improvements globally. FTV and its portfolio companies’ membership in One Mind at Work will further enable the creation of new studies and proprietary research aiming to drive systemic change across the industry.
“At FTV, we believe that mental well-being plays a critical role in the success of our firm and our portfolio companies,” said Brad Bernstein, managing partner at FTV Capital. “Especially in an era of remote and hybrid work, as well as great technological change, we are committed to investing in healthy and growing technology businesses with exceptional cultures. We have known Garen for decades and engaged with One Mind at Work over the years, and we are excited to pioneer this new and robust approach to protecting and supporting mental health within high-growth businesses.”
“With more than 25 years of experience investing in entrepreneurial companies, we understand the pressures and challenges that come with rapid growth and scale,” continued Allison Walker, partner and chief talent officer at FTV Capital. “As a leading growth equity firm, we are in a unique position to help break the stigma around mental health and spearhead efforts that drive positive outcomes for thousands of people within the FTV portfolio and for our own employees as well. We hope others with our influence and reach will join us.”
Founded in 2017, One Mind at Work is a growing coalition of global businesses committed to supporting the mental wellbeing of employees globally and building the future of workplace mental health, with members including TPG, The Carlyle Group and Pritzker Group, in addition to FTV. A healthy workforce is key to driving business success, but the burden of mental health remains significant with more than 50% of general populations in middle- and high-income countries suffering from at least one mental disorder at some point in their lives. The economic toll of this is notable. In 2010, the indirect cost of absenteeism and presenteeism related to mental health issues was estimated to be approximately $1.7 trillion, and that cost is expected to double by 2030 unless there is substantial intervention.
About FTV Capital
FTV Capital is a sector-focused growth equity investment firm that has raised $6.2 billion to invest in high-growth companies offering a range of innovative solutions in two sectors: enterprise technology and services and financial technology and services. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in over 140 portfolio companies, including Agiloft, BillingPlatform, EBANX, Kore.ai, Luma, ReliaQuest, True Potential and Vagaro, and successfully exited/partially exited companies including CardConnect (acquired by First Data), Centaur (acquired by Waystone Group), Egress (acquired by KnowBe4), Enfusion (NYSE: ENFN), Globant (NYSE: GLOB), InvestCloud (recapitalized), Strata Fund Solutions (acquired by Alter Domus), VPay (acquired by Optum) and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco, New York, Connecticut and London. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.
About One Mind™
Launched in 1995 by Shari and Garen Staglin as their means to “run toward the problem” of their son’s schizophrenia diagnosis, One Mind is today a leading mental health non-profit that heals lives by direct support for neuropsychiatric brain research. By convening the brightest minds in brain science and advocacy around a collective vision of “Accelerating Brain Health for All,” One Mind is advancing a three-pronged program strategy of accelerating discoveries, improving services, and transforming culture. Through such achievements as enrolling over 10,000 patients in innovative clinical studies and the One Mind at Work initiative that has brought supportive workplace mental health practices to over 7 million employees, One Mind is creating a world where all people facing mental health challenges can build healthy, productive lives. Dr. Kathy Pike, internationally recognized scientist and global mental health leader serves as CEO of One Mind. Brandon Staglin, whose own experiences triggered the creation of the non-profit, serves on One Mind’s Leadership team as Co-founder and Chief Advocacy and Engagement Officer.
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Media:
Prosek Partners on behalf of FTV Capital
pro-ftvcapital@prosek.com
646-818-9051
One Mind
oneminddkc@dkcnews.com
Source: FTV Capital
