BOSTON, Nov. 12, 2020 /PRNewswire/ -- Spring Lane Capital, a private equity firm focused on providing catalytic project capital for sustainability solutions in the energy, food, water and waste industries, announced today that Ann Leng has joined the firm as CFO and COO effective immediately. She joins Spring Lane Capital from AC Investment Management, LLC, where she served as CFO for over 10 years.
Leng joins Spring Lane Capital at a time of increased investment opportunity in small-scale projects in some of the fastest-growing sustainability sectors. Spring Lane Capital's unique investment model provides both project finance and growth capital for leading companies deploying "distributed assets" – those solutions using equipment or facilities smaller and less concentrated than traditional project finance can address. This dual approach helps such companies unlock additional growth while meeting their customers' needs.
"Ann brings over 20 years of experience working in the alternatives industry and, in particular, brings an exceptional track record working with private equity and hedge funds," said Christian Zabbal, Managing Partner, Spring Lane Capital. "Ann also brings to Spring Lane her strong partnerships within the financial services industry and a unique expertise in successfully building operational infrastructures for private equity firms and hedge funds. We are pleased to have Ann join our leadership team as we continue to grow our firm."
"In our view, there is a financing gap for small-scale sustainable solutions where proven entrepreneurs working in some of the most exciting industries today need project capital to scale. Too often, they find that traditional forms of capital like venture capital are too expensive for these uses and that they are overlooked by traditional infrastructure capital that focuses on large-scale projects," said Rob Day, General Partner, Spring Lane Capital. "Our strategy is designed to give these entrepreneurs the capital and operational assistance they need to grow their businesses while seeking to unlock compelling value for our investors."
Last December, Spring Lane Capital announced its final close of the firm's inaugural fund, bringing total equity commitments to approximately US$156.5 million. At the same time, the firm announced three partnerships and investments with Atlas Organics, Aries Clean Energy, and Cambrian Innovation.
Leng is a licensed CPA and CFA Charterholder. Prior to joining Spring Lane, she served as CFO at various investment management companies since 2014, including AC Investment Management, LLC and Innovation Group. Leng started her career in financial services as an auditor at PricewaterhouseCoopers, before working at Ivy Asset Management LLC, a subsidiary of Bank of New York. Leng holds a BA from Yantai University in China and obtained her MBA degree in Accounting from Baruch College, the City University of New York.
About Spring Lane Capital:
Spring Lane Capital is a private equity firm based in Boston, Massachusetts, and Montreal, Quebec, focused on providing catalytic project capital – project finance and growth capital in tandem – for smaller-scale "distributed" solutions in the energy, food, water and waste industries. Our structured financial model seeks to tap into some of the fastest-growing segments of these markets that more traditional forms of project capital cannot access due to their scale and the limitations of existing investment models. For more information, please visit springlanecapital.com.
SOURCE Spring Lane Capital