TORONTO, Oct. 24 /CNW/ - Wellington Financial Fund LP, a privately held
specialty finance firm, today announced the second investment of its recently
closed and oversubscribed Fund III. The $3 million debenture financing with
Vision Critical Communications Inc. ("Vision Critical") will facilitate the
launch of a full-service strategic market research consultancy through Angus
Reid Strategies and help finance the company's growth strategy. Existing
shareholder, Angus Reid, also participated in the financing.
"Today's investment pairs Wellington Financial with one of the most
respected market researchers in Canada. Leveraging the power of online panels
and interactive survey environments, Vision Critical, along with Angus Reid
and his team, is poised to provide a competitive, innovative alternative in
the North American market research industry. Their successes to date in
deploying industry-changing platforms make them a natural partner for
Wellington," said Mark McQueen, President and Chief Executive Officer of
Wellington Financial. "Our venture debt capital will assist Angus and the
Company to substantially grow revenues and re-enter the full-service market
research space - an arena in which Angus has already achieved notable
success."
Founded in 2000, Vision Critical develops and operates software and tools
that are used to help companies recruit, engage and learn more from their
customer advisory panels. Its Panel+ platform enables self-serve polling and
surveying by Global 5000 companies using their own panels. Vision Critical's
Fusion suite is a group of rich media applications including interactive
visualizations, streaming video and 3D virtual environments, which aid in
increasing participation rates by providing new, unique ways of extracting
information and opinions from consumers. Its sister company, Angus Reid
Strategies, was recently launched and will offer full-service market research
and consulting services that leverage the online technology provided by Vision
Critical to organizations in both Canada and the United States.
"The Wellington Financial team has a clear understanding of the growth
potential that interactive online polling, surveys and panels can bring to the
traditional market research industry," said Angus Reid, CEO of Vision
Critical. "We are pleased to have Wellington Financial play a role in the
growth and expansion plans of our business."
Vision Critical, in conjunction with Angus Reid Strategies, is
headquartered in Vancouver with additional offices in Toronto and Calgary.
Vision Critical currently employs approximately 65 individuals and continues
to grow its market research team. Customers include Nestle, OMD and Indigo
Books & Music. Existing investors include Telus Corporation and Vision
Critical management.
Chaitons LLP and Irwin, White & Jennings provided legal advice for this
transaction.
Wellington Financial LP is currently managing a new $400 million
investment program via Wellington Financial Fund III. Since inception,
Wellington Financial LP has led or participated in more than $155 million in
transactions, making it one of the most active funds of its kind in Canada.
About Wellington Financial LP
Wellington Financial LP is a privately held specialty finance firm
providing operating lines of credit from $1 million to $5 million; term and
amortizing loans up to $30 million; and venture debt loans up to $10 million.
Wellington Financial LP is currently deploying a $400 million investment
program via its third fund. The company's clients vary in size and business
model, but generally have current year revenue in excess of $5 million.
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 Funds II and III. Limited partners include several of
Canada's largest institutional investors, crown corporations, financial
institutions and pension funds. Please visit the company's website at
www.wellingtonfund.com, or the Wellington team blog at
www.wellingtonfund.com/blog.
