Thursday, September 6, 2012

Wellington Financial Plans Palo Alto Office, After $177.5M Fund Close

A Canadian provider of venture debt, Wellington Financial, said yesterday that it has closed a $177.5M fund, and plans to open up a new office in Palo Alto. The company--which provides venture debt to venture backed startups--said its fourth fund, Wellington Financial IV, came from Canadian institutional investors, pension plans and family offices. The company said that 20 of its last 25 investment were in U.S.-based, VC-backed companies. A number of those firms are in Silicon Valley.