# FOG Software Group

FOG Software Group is a Private Equity based in Chicago, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Founded:** 1995
- **Assets under management:** Undisclosed
- **Website:** fogsoftwaregroup.com
- **LinkedIn:** https://www.linkedin.com/company/fog-software-group

## Regulatory record

- **Reports private funds:** No

## About

Fog Software Group is a division of Vela Software and Constellation Software, both based in Toronto. Founded in 1995, it is headquartered in Deerfield, Illinois. The company has made 21 investments, including one in Computer Solutions, Inc.

## Sectors

- Enterprise Software
- Automotive
- Real Estate
- Retail
- Manufacturing
- Government Software

## People

- Cameron Fortier — Host of The Vertical Software Podcast (identified as a contact/discussion lead on firm website)

## Questions

### Does FOG Software Group ever sell its portfolio companies?

No. FOG explicitly states on its website that 'We Never Sell.' The firm's model is to acquire vertical market software businesses and operate them indefinitely under the Constellation Software umbrella, providing a permanent home for legacy software products.

### How is FOG Software Group related to Constellation Software Inc.?

FOG is a division of Constellation Software Inc., a publicly traded company. It operates as one of the buy-and-manage units within Constellation's decentralized structure, focusing on vertical market software acquisitions.

### What types of software businesses does FOG acquire?

FOG targets vertical market software businesses — ERP and specialized operational software serving niche industries. Public examples include tire retail and wholesale systems (TireMaster), glass manufacturing and fenestration software (FeneVision, A+W, etc.), textile and fashion design tools (Aquario), and construction-materials testing applications.

### Who manages investment decisions and acquisitions at FOG?

The firm states that conversations with prospective sellers involve a senior operator alongside corporate development and M&A team members. Cameron Fortier is identifiable as a key deal-facing principal, but the firm does not publicly list a formal executive leadership roster beyond its podcast host and designated contact points. Internal legal, finance, tax, and M&A teams handle the transaction process from offer to close.

### What is FOG's acquisition process?

FOG describes a staged approach: an initial meeting to build a relationship, followed by a non-disclosure agreement, open discussions about future operating plans, a letter of intent, due diligence led by in-house teams, and finally closing. The firm emphasizes speed and certainty, citing over 600 completed transactions and standardized legal templates.

## Related profiles

- [Fog City Capital](https://altss.com/profile/fog-city-capital)
- [FOG Ventures](https://altss.com/profile/fog-ventures)

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Last updated: 2026-06-03T20:00:00.000Z

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