Six of the 2012 Deloitte Technology Fast 50 backed by Wellington Financial
TORONTO, Nov. 14, 2012 /CNW/ - For more than 15 years, the Deloitte Technology Fast 50™ has tracked the successful growth of Canadian-grown global leaders. Wellington Financial LP, a privately-held specialty finance firm and sponsor of the Deloitte Fast 50, is honoured to see six portfolio companies rank in this year's Fast 50, announced yesterday.
Wellington Financial portfolio companies that made the list this year: Toronto-based Real Matters, the parent company of Solidifi, is #3 with revenue growth of 8,961%, Oakville-based BIOX Corp placed #10, Ottawa-based BTI ranked #28, Vancouver-based Vision Critical is #31, Toronto's Impact Mobile came in at #37 and #41 for Vantrix of Montreal.
"For each of the last five consecutive years, Wellington Financial has seen several of our Canadian portfolio companies featured in the Deloitte Fast 50," said Mark McQueen, President & CEO of Wellington Financial. "Portfolio companies such as Impact Mobile have made the list for the sixth year in a row, demonstrating that the innovation marketplace continues to excel with our True Growth Capital® funding model."
"There is a cyclical change in the technology sector. Growth in more mature companies is slowing down, but we see a lot of activity at the early stage," said Duncan Stewart, Director of TMT Research for Deloitte. "That activity is a positive indicator of the future health of the sector and shows that starting a business is an attractive career option for many people. With limited capital many start-ups are operating in more efficient ways."
In September 2012, Wellington announced the first closing of Wellington Financial Fund IV, as well as plans to open a second U.S. office in the Palo Alto area. Wellington's 2006-vintage Fund III was capitalized with $150 million of re-circulating institutional equity commitments. That fund led ~$300 million of financings via 50 loans over its life, earning limited partners a profit in every fiscal quarter during that six- year period. The new Fund IV raised $177.5 million of re-circulating equity in its first close, drawing commitments from leading Canadian institutional investors, pension plans and family offices.
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 $500 million investment program with offices in Toronto, Canada, and Santa Monica, California. 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, pension funds, family offices and crown corporations. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
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