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Southridge provides equity to Covenant Group of China

Southridge, an investment firm providing capital to publicly listed companies, has closed a private equity agreement via an affiliated fund for up to USD20m in equity financing for Covenant Group of China.

"Southridge is very pleased to provide equity capital financing for this market leader in seeking investment opportunities with companies in the Peoples Republic of China," says Stephen Hicks, founding principal of Southridge. 

Covenant’s core strategy is to invest in growth companies headquartered in China using its business experience in both the US and China as well as its experience in the US capital markets.

Covenant provides these companies with support, including administrative, legal, accounting and marketing assistance, along with an infusion of capital.

The long term goal is to prepare these entities to become leaders in their market sectors and possibly public companies in their own right.

"We are thrilled to be working with Southridge as we grow our core business in the China market. The Southridge management team fully understands our business philosophy, and the growth potential of Chinese companies in the global economy," says Van Gothner, a member of Covenant’s board of directors.

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