About
Robert F. Smith
Founder, Chairman and CEO, Vista Equity Partners
Engineer, business leader, dealmaker, entrepreneur and philanthropist Robert F. Smith co-leads Southern Communities Initiative (SCI) alongside Dan Schulman (former CEO of PayPal) and Rich Lesser (Global Chair of Boston Consulting Group). He currently serves as the Founder, Chairman and CEO of Vista Equity Partners (Vista), a leading global investment firm that exclusively focuses on enterprise software, data and technology-enabled businesses. Smith is also the founding director and President of Fund II Foundation, an organization dedicated to advancing social change and creating a better future for Black Americans.
While he is widely known for his business prowess and success in the investment industry, he is just as passionate about philanthropy, especially pertaining to helping uplift the Black American community and other communities that lack access to opportunities. Throughout his career, Smith has made financial contributions to several organizations and initiatives that support his mission.
History: Early Life and Career Path
Born to two educators in 1962 in Denver, CO, Smith developed a love and passion for learning. Throughout his formative years, Smith watched his parents work hard and dedicate themselves to noble causes like the Civil Rights Movement. His mother even donated $25 each month to the United Negro College Fund (UNCF) — no matter the family’s financial situation.
Smith took this drive and compassion with him as he went through the Denver public school system. While he was still in high school, he applied for an internship position at Bell Labs — a spot typically reserved for college students. Smith was originally rejected, but after months of persistence, he was given an opportunity to interview and was offered the position. He continued working at Bell Labs throughout his school breaks until he graduated in 1985 from Cornell University with a chemical engineering degree.
Out of college, Smith lived a fulfilling life as an engineer and later became passionate about private equity and investments. He went back to school to pursue his MBA at Columbia Business School. After graduating with honors from Columbia University in 1994, Smith started working at Goldman Sachs.
After six years at the firm, he founded his own investment firm. Vista has over $100 billion in assets under management that are divided across four investment strategies – private equity, permanent capital, credit and public equity. Under Smith’s leadership, the firm pioneered a differentiated approach to enterprise software investing, which prioritizes value creation through operational transformation with founders, leaders and executive teams.
In recognition of his professional achievements, Smith was listed among Forbes’ 100 Greatest Living Business Minds in 2017 and TIME100’s list of the 100 most influential people in the world in 2020. In addition, Smith was honored with the Award of Excellence from the National Association of Investment Companies and inducted into the Texas Business Hall of Fame in 2019.
Philanthropy: Helping to Create a Better World
Smith’s charitable interests range from the arts and outdoors to education and technological development — most with a focus on Black Americans and other underrepresented communities. In 2017, he signed the Giving Pledge in which he promised to donate more than half of his wealth to charitable organizations during his lifetime.
Throughout his career, Smith has been widely recognized for his philanthropic work. In 2018, Smith received the Ronald H. Brown American Journey Award. The next year, he was honored with the Carnegie Medal of Philanthropy. Later in 2020, Smith was recognized at the Forbes Diversity & Inclusion Awards. Smith also received theGrio’s Philanthropy Icon Award in 2022 and the Legal Defense Fund’s National Equal Justice Award in 2023, along with the HBCU Impact Award from HBCU New York Classic. In addition, he was honored with the Founder’s Award from Foster Love and George H.W. Bush Points of Light Award in 2023.
“In 2017, he signed the Giving Pledge in which he promised to donate more than half of his wealth to charitable organizations during his lifetime.”
Expanding Opportunities for Education
As an avid philanthropist, Smith has been fully committed to his Giving Pledge commitment, using his wealth to expand educational opportunities to those who need it most. Like SCI, Smith believes that education can offer the tools and infrastructure to help uplift individuals and entire communities. For example, he has personally donated $70 million to fund scholarships at his alma maters, Cornell University and Columbia University. Smith, Vista and PowerSchool also partnered together to donate over $1 million to DonorsChoose, an organization, which funds teacher wish lists, to support classrooms in the communities serviced by SCI.
Under Smith’s leadership, Fund II Foundation launched internXL in 2019. The platform is dedicated to creating career opportunities for students from underrepresented communities by matching them with paid internships at leading companies.
In 2019, Smith made one of his most notable contributions to further the education of Black Americans. When making his commencement speech at Morehouse College in Atlanta, GA, Smith committed to paying off the student loan debt of the entire graduating class — a gift that totaled over $34 million. He later paid off any debt held by their guardians.
After witnessing how his donation financially liberated those students, Smith was inspired to do more. In 2020, Smith matched a $50 million donation from Fund II Foundation, which helped launch Student Freedom Initiative (SFI). SFI is an organization that provides academic, professional and financial support to students pursuing STEM-related majors at participating Historically Black Colleges and Universities (HBCUs) and other Minority Serving Institutions (MSIs). Ultimately, SFI aims to be a catalyst for freedom in professional and life choices for students by increasing their social and economic mobility.
Smith’s Partnership With Southern Communities Initiative
When Smith first partnered with SCI, his goal was to help establish banking infrastructures in underrepresented areas. Additional partners later joined to help modernize technology at HBCUs through investments from corporations like Cisco.
“When you modernize that infrastructure, you now have broadband. When you have broadband in those HBCUs, in those communities, you can now make that extensible to the businesses,” said Smith of this initial Cisco gift.
Under Smith’s leadership, SCI also partnered with Regions Bank, Truist Foundation and The Studio @ Blue Meridian Partners to support Grameen America in its mission to empower underrepresented female entrepreneurs. Specifically, they helped Grameen America open its first physical location in Atlanta, GA, through its Elevating Black Women Entrepreneurs initiative. The initiative is dedicated to accelerating the organization’s racial equity efforts, leveraging its special lending model to reach underrepresented female entrepreneurs. Ultimately, this initiative aims to invest $1.3 billion in loans to 80,000 underrepresented female entrepreneurs.
Learn about Smith’s connection with SCI by watching the video below, as well as more about his business and philanthropic efforts on his YouTube channel.
You can also learn more about Smith by visiting his website and social media, including LinkedIn, Instagram, Facebook and Twitter (X).
Join Us and Get Involved!
If you’re interested in becoming a partner with Southern Communities Initiative or want to get involved with volunteering, we invite you to explore the different ways you can engage.
