Main Capital Partners acquires Watermark

● PLATFORM | EDUCATION · Higher Education

SEPTEMBER 16, 2026

Main Capital Partners acquires Watermark (TCV)

TARGET

Assessment, accreditation, faculty activity reporting, and course evaluation software for colleges and universities, serving approximately 1,500 institutions worldwide.

Ownership	VC-backed · TCV (prior owner); TCV (Technology Crossover Ventures), Quad Partners, Exceed Capital Partners
Headcount	251-500 FTEs
Headquarters	Austin, Texas
Leadership	Erin Shy, Chief Executive Officer
Sell-side advisor	Centerview Partners

ACQUIRER

Main Capital Partners

Software-focused private equity investor specializing in the DACH, Benelux, Nordic, and North American markets.

Headquarters	The Hague, Netherlands
Deal team	Daan Visscher
Buy-side advisor	—

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Main Capital Partners -> Watermark  (2026-09-18)
buyout | Education | announced
Target: Assessment, accreditation, faculty activity reporting, and course evaluation software for colleges and universities, serving approximately 1,500 institutions worldwide.
Website: watermarkinsights.com | Buyer site: main.nl
HQ: Austin, Texas | Ownership: vc-backed | Seller: TCV (Technology Crossover Ventures)
Advisors - Sell-side: Centerview Partners
Source: Thematic - https://thematichq.com/software/d/main-capital-partners-watermark.html

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