L Squared invests in Virtium

L Squared Capital Partners has made an undisclosed investment in Virtium. Based in Rancho Santa Margarita, California, Virtium is a provider of industrial-grade memory and storage solutions for the world’s top OEMs.

PRESS RELEASE

Newport Beach, CA – L Squared Capital Partners (“L Squared”) is pleased to announce a growth investment in Virtium (the “Company”). Founded in 1997 and based in Rancho Santa Margarita, CA, Virtium is a leading provider of customized, ruggedized, and highly engineered industrial memory and embedded solid state drive (“SSD”) products to the industrial market. In recent years, the Company has experienced significant growth as a result of increasing demand for highly customized memory and storage products. The investment by L Squared will enable the Company to further invest in its product portfolio, firmware development and application engineering teams that support a solution-driven customer experience. Virtium’s co-founders and existing management team will continue to lead the day-to-day operations of the Company.

Virtium was co-founded by Phu Hoang and Chinh Nguyen in 1997. Prior to founding Virtium and moving to Southern California, Phu and Chinh held senior engineering and strategy roles at leading technology companies.

“We established Virtium to address and solve the unique needs of our customers in the industrial market. Our team has always focused on building long-term relationships and consistently delivering a high level of value to the leading OEMs in the markets we serve.” said Phu Hoang, CEO and co-founder of Virtium.

“L Squared’s long-term investment horizon and thoughtful approach to value creation was an excellent fit with our Company culture. We are excited to start this next chapter in Virtium’s history with L Squared as our partner.” Phu and Chinh immigrated to the United States from Vietnam in the 1980’s and have since become US citizens. Virtium has a team of over 30 engineers based in Vietnam that support the Company’s experienced US team in developing unique hardware, firmware, and application-specific solutions.

Founded in 2014 and headquartered in Newport Beach, CA, L Squared is an investment firm designed to meet the unique needs of the family office community. The firm makes long term investments in leading growth companies in the industrial technology, technology-enabled services, and education sectors.

“The entire L Squared team is extremely excited about our new partnership with Virtium right here in Southern California.” said Rob Healy, Managing Partner of L Squared, “Phu and Chinh have thoughtfully built a strong culture and team focused on innovation and customer service that will continue to drive Virtium’s growth in the coming years.”

Virtium represents L Squared’s second platform investment in the last year and fits directly in one of our core sectors of focus, industrial technology. “The Company’s impressive growth, reputation for world-class customer service combined with Virtium’s leadership position in the industrial segment of the memory and storage market, make this a very attractive investment for L Squared Capital Partners.” said Sean Barrette, Partner at L Squared, “We expect continued growth through new product development and intend to pursue complimentary add-on acquisitions to leverage Virtium’s talented management team, industry leadership and engineering expertise.”

About Virtium
Virtium (Latin for integrity and excellence) is a leading solutions provider of industrial-grade memory and storage solutions for the world’s top OEMs. For nearly two decades, it has designed and built its products in the USA, fortified by a network of global locations. Virtium’s world-class technology and unsurpassed customer support result in better industrial embedded solutions for an interconnected world. OEMs trust Virtium for their networking, communications, industrial, in-flight entertainment, transportation, gaming and mobile monitoring system applications. Virtium excels at both first-to-market solutions and unsurpassed continuity of support for legacy products that meet the performance, workload and product deployment requirements of its customers. The company is a driving force in the continuous advancement of memory modules and embedded SSDs that deliver the capacity, form factor, extended temperature, ruggedization and configuration improvements that help OEMs compete successfully. For more information on Virtium, please visit www.virtium.com.

About L Squared Capital Partners
L Squared Capital Partners (“L Squared”) is an investment firm with offices in Newport Beach, CA and Chicago, IL that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Technology-Enabled Services, Industrial Technology, and Education. Our unique investor base of family offices enables us to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over a decade and have over 50 years of combined experience investing in growing private companies. For additional information, please visit www.lsquaredcap.com.