Nfluence Partners Research
Advisory Approach
Nfluence Partners is a boutique investment bank founded in 2018, spun out from the Technology, Media & Telecom (TMT) practice at Headwaters MB. The firm operates with a mission-driven approach to M&A advisory, believing that capital markets should enhance, not conflict with, a company's mission. Their tagline "Transact Thoughtfully" captures their philosophy of maximizing value through thoughtful, relationship-driven processes rather than aggressive deal-churning. The firm focuses exclusively on companies at the intersection of technology and the broader economy, bringing deep sector expertise and genuine conviction to every engagement.
The founding team—Gary Moon, Brewer Stone, John Batdorf, and Sun Jen Yung—collectively bring over 150 years of technology investment banking experience. They built Headwaters MB's TMT practice into a top-5 technology M&A boutique before spinning out Nfluence Partners in 2018. This heritage provides the firm with institutional-quality processes and a deep institutional network while maintaining the agility and personalized service of a boutique.
Sector Focus
Nfluence Partners' transaction history and team expertise demonstrate concentration in several technology verticals:
Software & SaaS: The firm has completed multiple SaaS transactions across event technology (Prismm, Allseated), digital accessibility (UserWay), and healthcare technology (SpinSci). Their team includes dedicated practitioners with 15+ years of technology M&A experience.
Consumer Technology: From Rocketbook's smart notebooks to Cooking.com's digital commerce platform, Nfluence Partners has advised pure-play consumer technology companies on strategic sales and growth capital raises.
Digital Media & Marketing Technology: The firm has deep expertise in digital media, evidenced by the ZEFR asset sale to Vobile Group and dedicated team focus on marketing & advertising technology (John Sternfield) and digital media (Sun Jen Yung).
Cross-Vertical Specializations: Individual team members maintain focused practices in EdTech (Monica Mariani), HR technology (Rachel Candler), Human Capital Management (Kenneth Chan), FinTech (Michael Hakim), and wellness technology/digital health (Gary Moon).
Deal Track Record
Since 2006, the team at Nfluence Partners has completed nearly 200 transactions, including work completed at prior firms. Representative transactions include:
- Prismm to Cvent (2025): Exclusive financial advisor on the sale of a spatial event-design technology provider with 5,500+ venue customers to Cvent, a leading meetings and events technology platform
- UserWay to Level Access (2023): Exclusive financial advisor on the $98.7 million all-cash acquisition of a digital accessibility AI pioneer, delivering a 17% premium over the pre-announcement share price
- Allseated Growth Capital (2023): Financial advisor on a $20 million growth equity raise led by Level Structured Capital to scale a space visualization and collaboration platform for the hospitality industry
- BIC Acquires Rocketbook (2020): Financial advisor to BIC Corporation on the acquisition of the leading smart reusable notebook company, which had generated $32 million in net sales in 2020
- Vobile Group Acquires ZEFR Assets (2019): Financial advisor to ZEFR on the $90 million sale of RightsID and ChannelID assets, creating the largest end-to-end SaaS platform for online video protection and monetization
- Le Tote and Lord & Taylor Restructuring (2020): Served as investment banker during the Chapter 11 bankruptcy process and sale operations for the iconic fashion retailer
Process & Fee Structure
Nfluence Partners runs institutional-quality, thoughtfully managed sell-side processes with senior banker attention throughout. The firm emphasizes exhaustive buyer outreach—targeting 200-400 qualified buyers per engagement—combined with the senior-level judgment that comes from decades of transaction experience. Their typical engagement structure includes:
- Retainer: Monthly retainer during the engagement period (industry standard for lower middle market boutiques)
- Success Fee: Standard Lehman or modified Lehman formula on total enterprise value
- Process Timeline: 6-9 months from engagement to close for typical sell-side mandates
- Exclusivity Required: The firm requires exclusive engagement to dedicate full resources
The firm's minimum engagement size is consistent with lower middle market focused boutiques, typically $10 million+ in transaction value. Their value proposition centers on combining exhaustive buyer outreach with senior attention—clients work directly with Managing Directors and Partners, not junior associates.
Buyer Network
Nfluence Partners maintains a broad institutional investor network built over 150+ collective years of technology investment banking. Transaction history shows successful outcomes with:
- Strategic Buyers: Cvent (events technology), Level Access (digital accessibility), BIC (consumer products), Vobile (digital media)
- Private Equity: The team has relationships across the PE spectrum, from growth equity to middle-market buyout funds
- International Buyers: The firm's global perspective enables cross-border transactions
The team's prior experience at Headwaters MB, combined with their boutique independence, allows them to maintain relationships with thousands of potential acquirers while providing the personalized service of a smaller firm.
Competitive Positioning
Nfluence Partners differentiates through three key attributes:
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Mission Alignment: The firm's focus on "mission-aligned" businesses—companies whose products and services genuinely improve the world—creates authentic conviction that resonates with buyers. This is not marketing positioning; the team actively works with wellness technology, digital health, education technology, and other positive-impact sectors.
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Technology-Only Focus: Unlike generalist boutiques that dabble in technology, Nfluence Partners lives exclusively at the technology intersection. Every banker has technology sector experience, and the firm's research capabilities (detailed state-of-the-market reports on creator economy, wellness technology, customer experience platforms) provide genuine thought leadership.
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Exhaustive Outreach, Boutique Service: The firm combines the buyer network depth of a larger platform with the senior attention of a boutique. Founders and business owners work directly with decision-makers, not junior staff.
Not a Fit If
Nfluence Partners typically declines:
- Businesses below $10 million in transaction value
- Companies outside the technology/digital economy intersection
- Pure asset sales or distressed situations (unless mission-aligned)
- Founders seeking a limited process or quick-flip exits
The firm's focus on mission-aligned businesses and technology sector expertise means they are selective about engagements, prioritizing quality of relationship over transaction volume.
Team
Gary Moon – Managing Partner & Co-Founder. 25+ years of technology investment banking experience. Previously ran the Tech, Media & Telecom practice at Headwaters MB, growing it into a top-5 Technology M&A Boutique. Focuses on the firm's institutional investor network and mission-aligned businesses including wellness technology and digital health. Stanford University graduate.
John Batdorf – Managing Director, COO & Co-Founder. 30+ years of investment banking experience. Previously Managing Director of Tech, Media & Telecom at Headwaters MB and Head of Software & Internet at Viant Capital. Focuses on Marketing & Advertising Technology and Data Analytics sectors. MBA from Tuck School of Business at Dartmouth, BS from Georgetown University (Magna Cum Laude).
Brewer Stone – Managing Director & Co-Founder. 20+ years of investment banking, venture capital, and finance experience. Previously Managing Director at Pacific Crest Securities and FBR. Focuses on Commerce and Marketing-related SaaS, Marketplaces, IoT, and Clean Energy & Mobility Technologies. Lived in China and India for eight years and speaks fluent Chinese. Ph.D. in Politics and Economics from Harvard University.
Sun Jen Yung – Partner, Head of Digital Media & Co-Founder. 30 years of investment banking and equity research experience. Previously co-founded the TMT practice at Headwaters MB in 2011, held senior Investment Banking positions at Oppenheimer, TD Securities, Deutsche Bank, and Lehman Brothers. Focuses on Digital Media and Consumer Technology. MBA from Columbia Business School.
Michael Hakim – Managing Director. 15+ years of M&A, growth equity, debt, and strategic advisory experience in technology. Previously Managing Director & Co-head of TMT Investment Banking at Deloitte Corporate Finance, Vice President at Drake Star Partners. Focuses on EdTech, FinTech Application SaaS, PropTech, and Safety/RegTech/GovTech. BA from UC Berkeley.
Kenneth Chan – Managing Director. 15+ years of M&A, growth equity, structured investments, and advisory experience in technology. Previously Investment Partner at BroadLight Capital, led Macquarie Capital's Principal Finance west coast operation. Focuses on Human Capital Management sector and emerging B2B software companies. MS from Boston University, BA from University of Pennsylvania, BS from The Wharton School (Summa Cum Laude).
Rachel Candler – Director. 15+ years of investment banking experience. Previously Director at Capstone Headwaters, Vice President at RBC Capital Markets and Daniels & Associates. Focuses on HR Technology. MBA from Vanderbilt University, BS from University of Denver.
Monica Mariani – Director. 15+ years of investment banking experience. Previously Director at Woodside Capital Partners, Associate at Rutberg & Company, Analyst at Lazard Freres. Focuses on Education Technology. Fluent in Italian. MS from City University London and University of San Francisco, BS from University of Reading.
John Sternfield – Managing Director. 30+ years of investment banking and corporate finance experience. Previously Managing Director and Head of Technology Investment Banking at Petsky Prunier, Cantor Fitzgerald, and Head of Communications Investment Banking at Piper Jaffray. Focuses on Customer Experience & Engagement and Marketing & Advertising Technology. MBA from Harvard Business School, BA from University of Pennsylvania.
William Billeaud – Managing Director of Deal Origination. 30+ years of experience as an entrepreneur and leader in technology and tech corporate finance. Sourced and closed transformational transactions between elite Snowflake and Google Cloud partners and Global 500 and Private Equity buyers. Speaks Spanish fluently.
Geographic Coverage
Headquarters in San Francisco (704 Sansome Street) with operations in New York City. The firm serves clients globally but maintains primary focus on North American technology companies. Team members' language capabilities include Spanish (Bill Billeaud), Italian (Monica Mariani), and Chinese (Brewer Stone), enabling cross-border transaction capabilities.