Chicago-based NXT Capital has launched a venture financing business, NXT Capital Venture Finance, which will provide senior and subordinated term loans of up to $20 million. Jan Haas, former president of Velocity Financial Group, will lead the effort.
NXT Capital today announced the launch of NXT Capital Venture Finance. This new business will be led by Jan Haas, former President and CEO of Velocity Financial Group and a 15-year industry veteran, who will be joined at NXT Capital by the entire Velocity Financial Group team.
The launch of Venture Finance is another important step in NXT Capital’s
development as a diversified commercial finance company. NXT Capital
Venture Finance complements NXT Capital’s Corporate Finance and Real
Estate Finance groups, extending NXT’s reach to emerging growth companies
backed by venture capital and private equity firms, particularly those in
the technology and life science sectors. NXT Capital Venture Finance
provides senior and subordinated term loans in the $1 million to $20
million range to these companies.
“We’re excited to be joined by Jan and his colleagues in launching NXT
Capital Venture Finance and are confident the team’s extensive domain
expertise, impressive track record, consistent commitment to the
entrepreneurial community and past experience building de novo businesses
will be vital ingredients in the success of this initiative,” said Robert
Radway, Chairman and CEO of NXT Capital. “Venture finance is a business
we are very familiar with and one that represents a logical, attractive
expansion of the NXT platform.”
Founded in 2007, Velocity Financial Group provided alternative capital to
a wide range of growth stage companies. Velocity has invested in more than
30 venture and private equity-
backed technology, life sciences and clean energy companies. Its portfolio
includes such notable industry leaders as Cadent, Schoolnet, Seven and
“Joining forces with NXT Capital makes perfect sense for our clients and
the team,” said Haas. “With NXT’s substantial and stable capital base,
familiarity with venture finance and a quick and reliable decision making
process, we are confident our team will quickly establish NXT Capital
Venture Finance as a market leader and the preferred source of financing
for our clients.”
NXT Capital provides structured financing solutions to middle-market and
emerging growth companies, and real estate investors through its Corporate
Finance, Real Estate Finance and Venture Finance groups. Based in Chicago
with offices in New York, Atlanta, Boston, Dallas, Newport Beach and
Silicon Valley, NXT Capital targets senior financing opportunities of up
to $150 million with a hold size up to $30 million.
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