Business
Wellington Financial Achieves $200M 'Hard Cap' for Fund IV
Announces Appointment of Vikram Gupta as Partner and Opening of Third North American Offic...
About this update from Clairvest Group Inc.
[{"type":"text","content":"\n\n\n\n\n\nAnnounces Appointment of Vikram Gupta as Partner and Opening of Third\n North American Office\n\n\nSAN FRANCISCO, CA, SANTA MONICA CA, AND TORONTO, ON, April 3, 2013 /CNW/\n - Wellington Financial L.P., a privately held specialty finance firm\n providing growth capital to Canadian and U.S.-based companies,\n announced the final closing of Wellington Financial Fund IV, as well as\n the addition of Vikram Gupta to its growing team of professionals.\n\n\nWellington Financial Fund IV, which announced its $177.5 million first\n close on September 5, 2012, is a successor fund to three previous\n entities.  Fund III, which was capitalized with $150 million in\n re-circulating equity funding commitments, led $315 million of\n financings via 50 loans over a 6-year period.\n\n\nWith its final close on March 29, 2013, Fund IV has reached its \"hard\n cap\" of $200 million in re-circulating equity commitments from several\n leading Canadian institutional investors. \"In this difficult\n fundraising climate, we are honoured to have hit Fund IV's hard cap of\n $200 million in re-circulating equity commitments,\" said Mark McQueen,\n Wellington Financial's President and Chief Executive Officer.  \"This\n capital base positions our firm to provide entrepreneurs across North\n America with up to $600 million of True Growth Capital over the next\n few years.\"\n\n\nTo further enhance the firm's U.S. presence, Wellington Financial is\n pleased to welcome Vikram Gupta to its team as a Partner and Head -\n Western U.S.A. Region.  Mr. Gupta joins Wellington with 14 years of\n experience financing high-growth technology businesses as both an\n equity investor and lender.  Prior to joining Wellington, Mr. Gupta was\n with Western Technology Investment, JPMorgan Partners and Credit Suisse\n First Boston.\n\n\n\"I am excited to join the Wellington Financial team,\" stated Mr. Gupta. \n \"Wellington's unique product offering, commitment to high-growth\n businesses and strong reputation with entrepreneurs and equity\n investors alike makes the firm an ideal partner for VC-backed\n companies.  I look forward to further enhancing Wellington's presence\n in the U.S. market as we continue to target the most promising\n innovation businesses.\"\n\n\n\"The track record of Fund III speaks to the success of the clients tha...