ORIX Ventures said Tuesday that it closed a $10 million commitment to Serena & Lily. Sausalito, Calif.-based Serena & Lily offers textiles, furnitures and other home decor products.
ORIX Ventures announces the closing of a $10 million commitment to Serena & Lily. The funding will provide additional capital to support the continued expansion of the Serena & Lily brand.
Located in Sausalito, California and founded in 2003, Serena & Lily is an aspirational lifestyle brand offering exclusive textiles, furniture and other home décor products for every room in the house. The funding of Serena & Lily underscores ORIX Ventures’ ability to focus on growth fundamentals and provide flexible capital to a wide variety of businesses.
“We are happy to be working with ORIX Ventures on this debt facility,” said Phil Neri, CFO at Serena & Lily. “Their team understands and supports the Serena & Lily vision as well as the unique needs of a growing lifestyle brand. This investment will help us make progress towards our goals for continued growth and expansion.”
Michael David, managing director at ORIX Ventures, commented, “Serena & Lily has created a unique brand identity that resonates with discerning customers seeking inspirational designs. We are delighted to be working with such a talented team.”
About ORIX Ventures
ORIX Ventures provides customized financial solutions to mid- and late-stage growth companies with established customers and run-rate revenues of $10 million or greater. ORIX Ventures is capable of leading debt or private equity transactions with total commitments as high as $50 million. Since its inception in 2001, ORIX Ventures has invested more than $1 billion across 100 growth companies throughout the U.S. and Canada. For more information on ORIX Ventures, visit us at www.orixventures.com. ORIX Ventures is a subsidiary of ORIX USA, a Dallas-based financial conglomerate with more than 1,400 employees and primary offices in Dallas, New York, Los Angeles, Columbus and Minneapolis. ORIX USA holds approximately $6 billion of assets and manages an additional $25 billion. ORIX USA is a wholly owned subsidiary of ORIX Corporation, a Tokyo-based, publicly owned international financial services company with operations in 28 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX USA, please visit www.orix.com.
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About Serena & Lily
Serena & Lily is an aspirational lifestyle brand that offers unique home décor and inspiration for every room in the house. Based in Sausalito, Calif., the company originated in October 2003 when Serena Dugan and Lily Kanter met and shared a desire for sophisticated options in nursery design. Eight months later, they released their first collection of nursery bedding with Serena’s original textile designs, offering consumers fresh and unexpected looks for the nursery. The company has since evolved into a leading lifestyle brand, offering its unique California-fresh style in many different categories, including bedding, furniture, rugs, windows, lighting, décor, gifts, bath, outdoor, paint, and fabric by the yard. In 2012, the company introduced its online Art Collection with original artwork from near and far. Launched in 2013, the KIDSHOP catalog is for infants and bigger kids alike, and features all the pattern, color and signature style that the Serena & Lily brand is known for. To shop the site, or for more information, please visit www.serenaandlily.com.