MENLO PARK, CA, June 16 /CNW/ - Bridgescale Partners
(www.bridgescale.com), California-based growth equity firm providing expansion
capital to later-stage technology companies, is expanding its focus and
operations to include the Eastern United States and Canada. As part of this
growth, Bridgescale Partners will open an office in Toronto in the summer of
2009 and is vigorously recruiting new members of its investment team.
"At a time when many private equity firms are scaling back, we are
actively expanding and seeking high-quality growth equity opportunities," said
Robert Chaplinsky, managing director, Bridgescale Partners. "Our last two
investments have been on the East Coast and we view Canada as an area rich in
attractive investment opportunities. With the support from the Canadian
investment community, we intend to quickly duplicate the success we have had
in Silicon Valley."
Bridgescale selected Toronto as the location of its new office based on
its proximity to a number of East Coast cities, rich talent pool and standing
as the financial capital of Canada. Led by managing director Robert
Chaplinsky, a Toronto native, current Bridgescale partners will initially
manage the new office.
Bridgescale is well positioned for a Canadian expansion as it has
significant experience working with Canadian entrepreneurs and companies. For
example, Bridgescale is an investor in Cortina, a semiconductor company with a
large development center in Ottawa and Proofpoint, one of Bridgescale's
portfolio companies, recently acquired Toronto-based Fortiva. What's more,
several Bridgescale principals have invested in Canadian companies and
understand the nuances of the market.
"Bridgescale's arrival in Canada signals a vote of confidence in the
opportunities that exist in Canada for growth equity funds at a time when
foreign funds have been discouraged by cross-border tax barriers and when
venture capital investment and fundraising are at multi-year lows." said
Gregory Smith, president, CVCA- Canada's Venture Capital & Private Equity
Association. "Canada's technology industries are suffering by comparison to
the U.S. counterparts where venture capital is more plentiful."
About Bridgescale Partners
Bridgescale Partners (www.bridgescale.com) is a Menlo Park, California
based growth equity firm providing expansion capital to U.S.-based,
later-stage technology companies. The founding team has more than 20 years of
venture capital experience at leading early- and later-stage institutions and
brings deep expertise in helping semiconductor, communication and internet
companies scale their businesses. Bridgescale invests in companies that are at
a stage where they need expansion capital to "scale" their business and
"bridge" them to an IPO or other strategic goal.
For further information:
For further information: Media Contact: Lisa Tarter, TidalWave PR, (415)