Vancouver, British Columbia-based Vistara Capital Partners has raised $100 million for its first fund. General Partners Fabio Banducci and Randy Garg committed to 10 percent of the investment for Vistara Capital Partners Fund I LP while 45 limited partners in Canada round out the investor base. The fund will focus on “higher-growth” tech companies and make investments ranging between $5 million and $15 million.
VANCOUVER, British Columbia, July 29, 2015 (GLOBE NEWSWIRE) — Vistara Capital Partners (“Vistara”) announced Vistara Capital Partners Fund I LP has reached its full $100 million fundraising target just four months after commencing fundraising. “Vistara” (Sanskrit for “expansion”) provides growth capital to technology and technology-enabled services companies generating $10 million to $200 million in revenue and located across Canada and the western United States.
Filling the Growth Financing Gap for Mid-Later Stage Technology Companies
“We fill the financing gap between where banks leave off for higher-growth technology companies, and where traditional venture capital, private equity or the public equity markets typically look to play,” says Fabio Banducci, Co-Founder and Managing Partner. “With creative and flexible debt-oriented solutions, we can support the growth-capital needs of companies with far less dilution than equity-only financings, or in some cases, help companies avoid selling too early when growth capital simply isn’t available to them.”
The fund will invest between $5 million and $15 million per company in private or public companies, with additional co-investment capacity through its network of LPs. Investments are typically structured in the form of:
non-amortizing (interest only) term debt;
standby / acquisition facilities; and/or
minority preferred equity solutions.
Seasoned Management Team and Strong LP Investor Base
With a combined 40+ years in the industry, Banducci and Co-Founder Randy Garg have committed 10% of the total closing amount as the General Partners. Their relationships with accomplished entrepreneurs and C-level executives from the technology sector and other industries, family office investors and private foundations, allowed the fund to close with 45 LP investors across Canada at least six months ahead of schedule.
“Leveraging the experience and contacts of our investors across a broad cross-section of technology-related sectors, including enterprise software, mobile, media & communications, security, fintech, healthcare, medical devices, food & agriculture, and technology-enabled services, uniquely positions us to help a wide variety of technology growth companies beyond just funding,” says Randy Garg, Co-Founder and Managing Partner. “It’s been a very busy past few months completing fundraising, leading our first investment, and continuing to build out our team. We are excited to now focus entirely on the primary task at hand of finding and enabling a dozen or more of the next great leading technology companies with this inaugural fund.”
About Vistara Capital Partners
Based in Vancouver BC, Vistara Capital Partners provides highly flexible and tailored growth capital financing (debt and/or equity) to mid-later stage technology and technology-enabled services companies across Canada and the western US. Founded, managed, and funded by seasoned technology finance and operating executives, Vistara is focused on enabling the growth and expansion of the companies it partners with. Additional information is available at www.vistaracapital.com.