TORONTO, Dec. 8, 2014 /CNW/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a new $6 million venture debt financing to a leading, Canadian-based provider of Mobile Software Platforms to a number of Global 2000 companies.
The funding from Wellington Financial will support the VC-backed Company's development and launch of its new product offering.
"Our interest-only structures continue to be a compelling choice for high growth companies looking to fund their business without meaningful dilution to existing shareholders", said Mark Usher, a Partner at Wellington Financial. "We are very excited to partner with this high velocity company as the team embarks on their next phase of growth".
Since 2012, Wellington Financial LP has led more than $220 million in transactions, making it one of the most active funds of its kind in North America.
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 Jose, 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.
SOURCE: Wellington Financial LP
For further information: Susan Mocherniak, Wellington Financial LP, Tel: (416) 682-6007, [email protected]