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Wellington Financial holds second closing for Fund IV

Wellington Financial, a privately-held specialty finance firm providing growth capital to US and Canadian-based companies, has held the second closing of Wellington Financial Fund IV.

Wellington’s 2006-vintage Fund III was capitalised with USD150m of re-circulating institutional equity commitments.  That fund led over USD300m of financings via 52 loans over its life. 

On 5 September 2012, Wellington announced that the first close of Fund IV had attracted USD177.5m of re-circulating equity commitments from leading Canadian institutional investors, pension plans and family offices.

Fund IV has now raised USD190m of re-circulating equity via the addition of both a new institution and family office.

"Our firm received tremendous support from the institutional limited partner universe in 2012," said Mark McQueen (pictured), Wellington Financial’s president and chief executive officer.  "We led USD78m of transactions last year, a majority of which were for US-based, venture capital-backed innovation companies.  Since we began doing business in the US in late 2009, our capital has helped American entrepreneurs preserve and/or create more than 3,700 US jobs."

Portfolio company exits in 2012 included BelAir Networks (acquired by Ericsson), Clairmail (acquired by Monitise plc), Ember (acquired by Silicon Labs) and Pivot (acquired by CME Group).

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