SILICON VALLEY, CA, SANTA MONICA,
CA, and TORONTO,
Oct. 2, 2015 /CNW/ - Wellington
Financial LP, a privately held specialty finance firm providing
growth capital to Canadian and U.S.-based companies, is pleased to
announce the launch of a new $900
million investment program.
Wellington Financial Fund IV, capitalized with $200 million of re-circulating equity capital in
2012, was a successor fund to three previous entities. Fund
IV committed more than $225 million
via 28 growth capital transactions over a 3-year period.
With its first close earlier this week, Fund V is already well
on its way to reaching its "hard cap" of $300 million of re-circulating equity
commitments. "We are honoured to have earned the sustained
confidence of institutional investors, entrepreneurs and their
venture capital partners," said Mark
McQueen, Wellington Financial's President and Chief
Executive Officer. "This new fund positions our firm to
provide entrepreneurs with anywhere from $2
million to $40 million of growth capital per company.
Entrepreneurs need comfort that firms such as ours can grow with
them as their needs evolve, and this new fund can do just
that."
"Over the past 15 years, entrepreneurs and institutional
investors alike have seen what true partnership looks like," added
Ken Rotman, Chairman of Wellington
Financial and Co-CEO of Clairvest Group Inc. "The
institutional limited partnership community appreciates our
alignment of interests, which is why Wellington has raised over $700 million of capital since 2004 – more than
any other innovation-focused fund in Canada during the same timeframe." In
2014, Preqin named Wellington as
one of the most "consistent performing fund managers" within its
global data base of 128 different venture capital and venture debt
funds.
Wellington also announced today
the recent addition of Ash Vaidya as a Partner in the Silicon
Valley office. Mr. Vaidya, a graduate of Cornell University, has a wealth of experience in
the venture debt industry on both sides of the border. He
joins Wellington's existing
California-based team of
Paul McKinlay (Silicon Valley) and
Eric Speer (Santa Monica).
"As venture debt firms come and go, Wellington Financial has
proven itself to have the flexibility, reliability and staying
power that entrepreneurs truly need," stated Mr. Vaidya.
"It's all about reputation and experience at the end of the day,
which is why Wellington has made
such a positive mark on the American knowledge-based industry since
it entered the U.S. market in 2009."
Wellington Financial Fund V will continue to follow the same
proven model by assisting both public and private companies with a
demonstrated customer following, minimum of $5 million in trailing revenue, talented
management and well-defined growth strategies.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance
firm providing term, venture and amortizing loans up to
$40 million. Wellington Financial LP
is currently managing a $900 million
investment program with offices in Silicon Valley, Santa Monica and Toronto. Wellington Financial LP is
managed by a partnership controlled by fund management and
Clairvest Group Inc. (CVG:TSX), who jointly have contributed a
large financial stake to the Fund. LPs have included many of
Canada's largest institutional
investors, crown corporations, financial institutions and pension
funds. Please visit the fund website at www.wellingtonfund.com, or
the Wellington Financial team blog at
www.wellingtonfund.com/blog.
SOURCE Wellington Financial LP