Partners for Growth, a Custom Debt Provider, Closes Fourth Fund
SAN FRANCISCO, Nov. 18, 2013 /PRNewswire/ -- Partners for Growth ("PFG"), a custom debt provider based in San Francisco, closed its fourth fund, Partners for Growth IV, Limited Partnership ("PFG IV"). The $205 million final close includes $123 million from investors and an $82 million commitment to participate in PFG IV loans from longtime partner Silicon Valley Bank. 37 new investors – including $35 million from 6 new institutional investors – committed $46 million to the new fund. PFG's anchor investor doubled its commitment from $25 million in the prior fund to $50 million in PFG IV. The team will continue with a successful investment strategy started in the mid 80's when PFG's founding members ran a predecessor entity of Hambrecht & Quist, an investment bank specializing in emerging technology companies, now a part of JP Morgan Chase. The focus will continue to be revenue stage technology and life science companies with growth prospects and a pathway to profitability requiring $1 million to $10 million of debt financing. Visit www.pfgrowth.com for addition information.
SOURCE Partners for Growth