This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Wellington Financial Announces $177 Million Fund IV

Launches new $500M Investment Program with plans for 2 nd U.S. office

TORONTO, ON and Santa, Monica, CA, Sept. 5, 2012 /PRNewswire/ - Wellington Financial LP, a privately-held specialty finance firm providing growth capital to U.S. and Canadian-based companies, announced today the first closing of Wellington Financial Fund IV, as well as plans to open a second U.S. office in the Palo Alto area later this year.

Wellington's 2006-vintage Fund III was capitalized with $150 million of re-circulating institutional equity commitments.  That fund led over $300 million of financings via 52 loans over its life, earning limited partners a profit in every fiscal quarter during that six- year period.

The new Fund IV raised $177.5 million of re-circulating equity in its first close, drawing commitments from leading Canadian institutional investors, pension plans and family offices. "The successful first close of our fourth fund is a clear indication that Wellington's agile investment approach continues to benefit investors, the companies we finance, and our VC partners," said Mark McQueen, Wellington Financial's President and Chief Executive Officer.

To further enhance Wellington's strong U.S. presence, the firm will be adding a second California office and additional U.S.-based employees later this year.  The firm opened its first U.S. office and staff in Santa Monica, California, in November 2009.  "Entrepreneurs and U.S. venture capitalists have responded positively both to our team and non-amortizing term debt product over the past three years," said McQueen.  "From a standing start, 20 of our last 25 investments have been to U.S.-based, VC-backed innovation companies."

" Wellington's impressive track record speaks to the market opportunity that Wellington satisfies as well as the consistently attractive returns earned by our LPs over the past 12 consecutive years across three different funds," added Ken Rotman, Wellington's Chairman.  "We are grateful for the support we have received from the institutional limited partnership community, and we are delighted to welcome four new Canadian pension funds as LPs in Fund IV."

" Wellington has been a valuable partner for a number of our portfolio companies," said Ren Riley, General Partner at Oak Venture Partners, of Palo Alto.  "The Wellington team has a long track record of creatively financing high quality growth companies. Their capital is patient, True Growth Capitalâ„¢.  We look forward to continuing our relationship as the firm deploys its impressive fourth fund."

"GrandBanks Capital and Wellington have enjoyed mutual success on several of our portfolio companies over the past three years", said Charley Lax, Managing General Partner of GrandBanks Capital, of Wellesley, Massachusetts.  " Wellington knows what it means to truly partner with management and VC board members."

Wellington Financial LP has earned its LPs top quartile 3-, 5- and 10-year absolute and risk-adjusted returns since the firm's inception in 2000.  Fund IV will continue to follow the same proven business model by financing private and public companies with a demonstrated customer following, talented management, proven growth opportunities and committed institutional investors.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs