As a philanthropist, an investor, an industry leader and an entrepreneur, Robert F. Smith has used his platform to help create opportunities for groups in the U.S. who lack access to opportunities, providing support that allows them to achieve academic and professional excellence. To that end, Smith is the founding director and President of Fund II Foundation, a charitable nonprofit organization serving the Black community with the goal of advancing racial equity. This is achieved through grants to preserve culture, protect the environment, nurture talent through education and liberate the human spirit by connecting the students of today with the tools to become the leaders of tomorrow.
As the Founder, Chairman and CEO of Vista Equity Partners (Vista), Smith’s vision for the future of the global digital economy ensures diverse communities are not left behind. One of Smith’s strengths is his ability to find elegant solutions to complex problems, which he credits to the chemical engineering degree that he earned at Cornell University. In honor of his achievements and donations, Cornell University renamed its chemical engineering school the Robert F. Smith School of Chemical and Biomolecular Engineering.
Smith, an Alpha Phi Alpha brother, has long recognized the proud history of Historically Black Colleges and Universities (HBCUs), other Minority Serving Institutions (MSIs) and Tribal Colleges and Universities (TCUs), whose graduates go on to become the next generation of leaders. And, he saw a way to expand that legacy for more students.
At the Morehouse College Class of 2019 commencement address, Smith enacted his idea of how to further the mission of HBCUs, other MSIs and TCUs. By reducing or eliminating the debt burden of graduates, the creative and generative potential of each student could be unlocked, empowering them and their communities. This idea led to the creation of Student Freedom Initiative (SFI).
Through SFI, Smith wanted to help solve the lack of intergenerational wealth in the Black community through the lens of education. A significant amount of the Black community’s wealth is consumed by the servicing of student loan debt. According to the Center for Responsible Lending, Black students with bachelor’s degrees owe approximately twice as much on their student loans as their white classmates four years after graduation.
“I thought that was just an atrocity,” Smith said during a February 2021 interview with the BlackNorth Initiative. He described bringing “some pretty smart people together” to find the right solution. Nine HBCU presidents, some of the brightest minds in education leadership, contributed to the plans, which became SFI.
Smith now serves as the Chairman of SFI, which launched in the fall of 2021. SFI provides financial and other forms of support to students at various HBCUs, other MSIs and TCUs. Through its extensive array of programs, SFI continues to be a catalyst for freedom in professional and life choices for students at participating universities, helping increase their social and economic mobility.
Smith grew up in Denver, Colorado, and is the son of two educators who cared deeply that Smith and his brother received a quality education. While attending high school, Smith was persistent in his quest to obtain an internship to continue growing his skills. He was initially denied a prestigious opportunity at Bell Labs that was reserved for college students; however, this did not stop Smith, as he continued to call Bell Labs until he was offered an opportunity to interview for the position. He ended up securing the role and spent the next several summers at Bell Labs, which helped him to cover the costs of his undergraduate education.
While interning at Bell Labs, Smith began attending Cornell University. He eventually earned a B.S. in chemical engineering. After graduation, Smith worked as an engineer at various top companies, including Goodyear Tire and Rubber and Kraft General Foods.
After years of working as an engineer, Smith wanted to expand his knowledge in finance and investments and went on to attend Columbia Business School, where he graduated with an MBA with honors. In 1994, Smith was offered a position at Goldman Sachs. He managed a variety of acquisitions and mergers, including in technology markets. In 2000, he started his own investment firm, Vista.
Vista is a leading global investment firm that exclusively invests in enterprise software, data and technology-enabled businesses across four strategies, including private equity, permanent capital, credit and public equity. Over the past two decades, Vista, through the guidance and leadership of Smith, has developed a differentiated approach to enterprise software investing that prioritizes value creation through operational transformation in close partnership with founders, leaders and executive teams. Vista has been honored with many awards over the past decades, including being recognized as 2023’s Global Technology Private Equity Firm of the Year by Private Equity International (PEI).
Smith’s philanthropy bolsters the ongoing work of Black communities and others that often lack access to opportunities, contributing to social justice, education and professional pathways. Smith shared his personal philanthropic strategy with Morehouse College students upon announcing his intention to eliminate their student loan debt in 2019, saying, “You must become a community builder. You don’t want to just be on the bus. You want to own it and drive it and pick up as many people as you can.”
When TIME Magazine recognized Smith in TIME100’s list of the Most Influential People of 2020, it was not only for his success with Vista but also for his philanthropic vision. Driven by his goal of setting people and communities on the path to success, Smith personally contributed $50 million to the launch of SFI to match the $50 million donation from Fund II Foundation.
Other institutions have also been provided with funds aimed towards equity, such as Smith’s alma maters. In 2016, the Engineering College at Cornell University received $20 million, with another $10 million for STEM scholarships. In 2022, Smith contributed an additional $15 million to Cornell University to be split between several namesake funds that will benefit both undergraduate and graduate students. At Columbia University, he provided $15 million in 2017 to help expand the Manhattanville campus to be more inclusive of its Harlem neighborhood’s diversity. The Manhattanville campus opened its doors in early 2022. The same year, Smith provided an additional $10 million gift for the Robert F. Smith ‘94 Scholarship Fund, specifically for students who often lack access to opportunities to pursue an MBA from Columbia Business School.
Smith also co-leads Southern Communities Initiative (SCI). SCI grew out of The 2% Solution as a catalytic program to advance racial equity and social change in six Southern communities that represent more than 50% of the Black population in the U.S.
Among his honors, Smith counts two firsts. He was the first Black American to sign the Giving Pledge in 2017, where he made a commitment to donate the vast majority of his wealth to philanthropic causes, including education and healthcare. Smith was also elected as the first Black Chairman of the board of Carnegie Hall in 2016 and has served as a board member since 2013. Smith serves on the Columbia Business School’s Board of Overseers and is a member of the Cornell Engineering College Council. He is also a founding member of the World Economic Forum EDISON Alliance and a member of the Council for Inclusive Capitalism.
As a leader in his industry, Smith has frequently been approached to speak at conferences and events about the future of private equity investments in tech and other related topics. In 2021, Smith spoke at the Macquarie Technology Summit in Sydney, Australia, about emerging technologies with the potential to change the world. In 2022, Smith spoke with Claudette McGowan, CEO of Protexxa, at Canadian Club Toronto about how global events influence enterprise software companies. In 2023, Smith also spoke at Invest Fest, hosted by Earn Your Leisure.
Some of his other speaking engagements include Columbia Business School’s Women’s Business Leadership in Tech Conference (2024); Black Men in Leadership Conference (2021); and the Forbes 400 Summit on Philanthropy (2020). Smith is also a regular contributor to the World Economic Forum in Davos, Switzerland and the Aspen Ideas Festival.
Over the years, Smith has received several awards and honors that include: