Alara Capital, formerly Guggenheim Venture Partners, which was an affiliate joint venture of Guggenheim Partners, LLC, has spun into a new private equity and venture capital firm unaffiliated with Guggenheim.
The entire GVP team has moved to Alara Capital including managing directors Mike Burns and Eric Rothfus, who will lead Alara’s operations.
“We are grateful to Guggenheim for helping us start our first fund and for the firm’s help with the spin out and launch of new funds as Alara,” says Rothfus.
“Guggenheim has enjoyed its association with Mike and his team and we look forward to Alara Capital’s future success and expansion as a leading venture firm,” said Guggenheim Vice Chairman Dominic Curcio.
Alara will continue to operate from offices in King of Prussia, Pa., and Austin, Texas, and will manage Guggenheim Technology Ventures I, a fund begun in 2008 with a total today of USD65 million in capital and stakes in nine technology companies.
Alara will continue its strategy of investing in undercapitalised technology companies with practices in distressed venture capital, early stage ventures and technology spin-outs. Alara will expand that focus into growth equity and active value investing with future private equity funds.
Future funds will be set up independently from Guggenheim, one of the largest limited partners in Alara’s first fund established under Guggenheim Partners.
Since its start in October 2008, Guggenheim Technology Ventures I has invested in numerous companies including Ciclon Semiconductor Device Corporation, which was acquired by Texas Instruments in 2009.
