Announces Appointment of Vikram Gupta as Partner and Opening of Third North American Office
SAN FRANCISCO, CA
SANTA MONICA CA
April 3, 2013
/PRNewswire/ - Wellington Financial L.P., a privately held specialty finance firm providing growth capital to Canadian and U.S.-based companies, announced the final closing of Wellington Financial Fund IV, as well as the addition of
to its growing team of professionals.
Wellington Financial Fund IV, which announced its
first close on
September 5, 2012
, is a successor fund to three previous entities. Fund III, which was capitalized with
in re-circulating equity funding commitments, led
of financings via 50 loans over a 6-year period.
With its final close on
March 29, 2013
, Fund IV has reached its "hard cap" of
in re-circulating equity commitments from several leading Canadian institutional investors. "In this difficult fundraising climate, we are honoured to have hit Fund IV's hard cap of
in re-circulating equity commitments," said
, Wellington Financial's President and Chief Executive Officer. "This capital base positions our firm to provide entrepreneurs across
with up to
of True Growth Capital over the next few years."
To further enhance the firm's U.S. presence, Wellington Financial is pleased to welcome
to its team as a Partner and Head -
Region. Mr. Gupta joins
with 14 years of experience financing high-growth technology businesses as both an equity investor and lender. Prior to joining
, Mr. Gupta was with Western Technology Investment, JPMorgan Partners and Credit Suisse First Boston.
"I am excited to join the Wellington Financial team," stated Mr. Gupta. "
unique product offering, commitment to high-growth businesses and strong reputation with entrepreneurs and equity investors alike makes the firm an ideal partner for VC-backed companies. I look forward to further enhancing
presence in the U.S. market as we continue to target the most promising innovation businesses."
"The track record of Fund III speaks to the success of the clients that we've had the pleasure to serve over the past 12 plus years," added
, Chairman of Wellington Financial. "The institutional limited partnership community recognizes our alignment of interests, which is why
is one of the few innovation-focused funds to hit its 'hard' fundraising cap over the past five years."
also announced today the promotions of
, both based in the firm's
office, to Partner.
, a Vice-President in
office, will continue to focus on high growth companies based in
and key Western States.
Wellington Financial Fund IV will continue the firm's strategy of investing in both public and private companies with a demonstrated customer base, minimum of
in trailing revenue, talented management and well-defined growth strategies.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to
. Wellington Financial LP is currently managing a
investment program with offices in
. 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
largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at
, or the Wellington Financial team blog at
SOURCE Wellington Financial LP