Government Technology Software (GovTech)
The WCAS Perspective on Government Technology Software
State and local government spending accounts for approximately 10% of the U.S. Economy’s GDP. Despite this, government agencies continue to lag the broader market in software adoption and the efficiencies it can produce:
WCAS believes that a shift to cloud-based software models will help governments at all levels drive additional value for taxpayers through increased transparency, improved speed and agility and flexibility in our evolving world. The need to shift toward next-gen solutions for mission—critical— needs such as enterprise resource planning, asset management and public safety— is an attractive opportunity for investment.
GovTech Themes We're Excited To Invest Behind
We look forward to partnering with leading enterprises and entrepreneurs who share our mission of increasing government efficiency through technology.
Recent Relevant Experience
See the Sector Team

Ryan Harper

Arnaud Cohade

Jason Ceto
Ryan Harper
General Partner | Healthcare
Mr. Harper is a General Partner in the Technology Group, having originally joined WCAS in 2010.
Email:person@wcas.com
Arnaud Cohade
Principal | Technology
Mr. Cohade is a Principal, having joined WCAS in 2015. Prior to joining WCAS, he was at J.P. Morgan’s Investment Bank.
Jason Ceto
Associate | Technology
Jason Ceto is an Associate in the Technology Group. Jason joined WCAS in 2022 and has spent his time digging deep into the GovTech and PropTech subsectors, including the firm’s recent investment in ImageTrend.
Sources: [1] William Blair GovTech Market Update [2] Mark43 2023 U.S. Public Safety Trends Report [3] Pew Research
Meet Our Technology Team
Our Operating Success
We know what we bring to the table — and the value we can deliver. But don’t just take our word for it. Check out some of our past operating successes to see the steady, structured growth WCAS can bring.
Technology News & Perspectives
Welsh, Carson, Anderson & Stowe Welcomes Gene Lockhart as Operating Partner
New York, NY – September 16th, 2025 – Welsh, Carson, Anderson & Stowe (WCAS), a leading private equity firm focused
TrueCommerce Names Bill Glass as CEO, Marking New Phase of Growth and Innovation
Ray Greer Named Chairman of the Board; Kimberly Williams Joins Board of Directors PITTSBURGH (July 8, 2025) – TrueCommerce, a WCAS portfolio
WCAS Portfolio Company EquiLend Acquires Trading Apps to Advance Front-Office Automation
Trading Apps’ tools and trade messaging service strengthen EquiLend’s automation across the full trade lifecycle New York — [July 29,
WCAS Announces Strategic Growth Investment in AIA Contract Documents, The Gold Standard For Risk Management Within The Construction Industry.
San Francisco, CA, July 8, 2025 --Welsh, Carson, Anderson & Stowe ("WCAS"), a leading private equity firm with a 45-year track
EquiLend Announces Appointment of New Chief Executive Officer
New York, October 23, 2024 – EquiLend, the global leader in technology, data, and analytics solutions for the securities finance industry,
WCAS Completes Acquisition of EquiLend
Private equity backing to accelerate growth initiatives for EquiLend New York, September 5, 2024 – EquiLend, the global technology, data and