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
For further information: Susan Mocherniak, Wellington Financial LP, Tel: (416) 682-6007, [email protected]