SAN FRANCISCO, SANTA MONICA, CA, and TORONTO, Aug. 25,
2015 /CNW/ - Wellington Financial L.P., a
privately held specialty finance firm providing growth capital to
Canadian and U.S.-based companies, is proud to be celebrate the
15th anniversary of its first growth financing
transaction.
Wellington Financial Fund IV, which announced its
$200 million final close in 2013, is
a successor fund to three previous entities. Fund
III, which was capitalized with $150
million in re-circulating equity funding commitments, led
$315 million of financings via 50
loans over a 6-year period. Fund II, with
$83 million in re-circulating
capital, led $105 million of
financings via 18 loans over a 2-year period. Fund I, with just
$7 million in re-circulating capital,
led $19.5 million of
financings.
2015 has been a highly successful year for Wellington's institutional limited partners,
with $43 million of new corporate
loan commitments – on the heels of $95
million of commitments in 2014.
Wellington's Fund III and Fund IV
portfolio companies have attracted global attention this year, with
disclosed acquisitions (pending and/or closed) of BlueStreak
Technology (Montreal), InterAct
911 (Chicago), Maxymiser
(New York), Softgate Systems
(New Jersey), as well as the
successful NYSE initial public offering of Xactly Corp.
(San Jose).
"With the recent acquisition of Maxymiser by Oracle, and
the IPO of Xactly on the New York Stock Exchange, the innovation
ecosystem has a good sense of the high quality nature of our
portfolio," said Mark McQueen,
Wellington Financial's President and Chief Executive
Officer. "As equity markets have yet again
produced negative results for investors so far this year, we are
reminded about the excellent risk-adjusted returns that can be
earned in the private debt market. Although 80%
of our capital is currently committed to 23 growth companies across
North America, our recirculating
capital base positions our firm well for the next few
years."
"Wellington's track
record of success makes it unique in the Canadian landscape," added
Ken Rotman, Chairman of Wellington
Financial. "The venture ecosystem can be tough
for investors, but Wellington's 15
consecutive years of profit is a testament to the professionalism
and experience that is applied to each and every
opportunity. CEOs and VCs alike know that when
they choose our firm, they are choosing a team that cares deeply
about quality."
Wellington also announced
today the promotion of Paul
McKinlay, now based in San
Francisco, to Vice-President.
Wellington Financial Fund IV will continue the firm's
strategy of investing in both public and private companies with a
demonstrated customer base, 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
$30 million. Wellington Financial LP
is currently managing a $600 million
investment program with offices in San
Francisco, 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 include several 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