SILICON VALLEY, CA, SANTA MONICA,
CA and TORONTO,
Nov. 2, 2015 /CNW/ - Wellington
Financial LP, a privately held specialty finance firm providing
growth capital to Canadian, U.S. and U.K.-based companies, is
pleased to announce the final fundraising close of its new
investment program.
The launch of Wellington Financial Fund V was announced four
weeks ago. With today's second and final close, the firm has
hit its 'hard cap' of $300 million of
subscriptions from Canadian institutional investors and family
offices. Wellington Financial Fund V is now the largest
technology-focused private fund in Canada.
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.
"Our corporate passion is to back as many of the best companies
as we can find, and this new fund gives us the capital we need to
support entrepreneurs in Canada,
the United States as well as the
United Kingdom," said Mark McQueen, Wellington Financial's President
and Chief Executive Officer. "Whether you are looking for
$2 million or $40 million of growth capital, Wellington will meet your needs with a very
attractive cost of capital."
"Over the past 15 years, Wellington Financial has supported many
of North America's highest
quality, privately-held growth stories, including Belair Networks,
folioDynamix, Maxymiser, OZ Communications, Real Matters, Vision
Critical and Xactly," continued Ken
Rotman, Chairman of Wellington Financial and Co-CEO of
Clairvest Group Inc. "This new fund will build on Wellington's well-earned reputation as an
agile, professional, supportive and ethical place to raise growth
capital for your business. Just ask some of our portfolio
companies…."
"The team at Wellington are
true professionals and added meaningful value to our business,"
said Joe Consul, CFO of Xactly Corp. of San Jose, California. Added Javier
Brage, CFO of New York and
London, UK-based Maxymiser: "The
Wellington Financial team was true to their word and trusted our
executive team." In June, Xactly, a Wellington Financial Fund
IV portfolio company, completed its successful initial public
offering on the New York Stock Exchange. In September,
Maxymiser, also a Fund IV portfolio company, was acquired by
Oracle.
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