Wellington Financial Provides $11 Million Growth Capital to Web Marketing Optimization Company
TORONTO, May 29, 2014 /PRNewswire/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a US$11 million unitranche debt financing to a US-based, venture capital-backed company specializing in web marketing optimization. The financing was used to repay a loan from one of Wellington's venture debt competitors and to enhance the company's working capital.
"The company is a perfect fit for our growth capital: high quality and fast growth. Since we entered the U.S. market, Wellington has financed more than 30 different VC backed-companies, helping American entrepreneurs preserve and/or create jobs for more than 5,000 knowledge workers," said Mark McQueen, President & CEO of Wellington Financial.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in San Francisco, Santa Monica and Toronto. 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 Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com or follow it on Twitter at @wellingtonfund.
SOURCE Wellington Financial LP