Toronto-based specialty finance firm Wellington Financial LP has extended US$2.5 million in venture debt financing to an unidentified Southern California-based software-as-a-service (SaaS) web platform company. Proceeds of the investment will be used by the company to provide marketing and web management tools to its more than 10,000 end users. In April, Wellington closed its fourth growth capital and venture debt partnership, Wellington Financial Fund IV, at $200 million.
Wellington Financial Provides $2.5 Million Growth Capital to SaaS Platform Company
SANTA MONICA, CA and TORONTO, ON, Oct. 22, 2013 /CNW/ – Wellington Financial LP, a privately-held specialty finance firm, today announced the closing of a US$2.5 million venture debt financing for a Southern California-based software-as-a-service (SaaS) web platform company.
“Our True Growth Capital continues to appeal to some of the best VC-backed software companies in California” said Eric Speer, Vice President of Wellington Financial. “Partnering with Wellington Financial will allow our newest portfolio company to continue to provide effective marketing and web management tools to its more than 10,000 end users.”
Since mid-2009, Wellington Financial’s True Growth Capital™ has helped U.S. and Canadian-based entrepreneurs preserve and/or create more than 5,100 jobs.
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 Francisco, 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, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
SOURCE Wellington Financial LP
For further information:
Wellington Financial LP
Tel: (416) 682-6021
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