The Blaine Group, Inc.
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FOR IMMEDIATE RELEASE: October 15, 2007
FOR FURTHER INFORMATION, CONTACT:
The Blaine Group
310.360.1499 Fax: 1498
CALIFORNIA CAPITAL PARTNERS FORM DEBT FUND
Newport Beach, CA… California Capital Partners, LLC, a venture capital firm focused on small- to medium-sized technology and life sciences companies, will now be investing through an innovative new fund, the California Ventures Debt Fund (CalVen).
CalCap’s leadership consists of three venture capitalists who have a cumulative 75 years of senior management and investment experience. The managing directors – industry veterans Mark Mansfield, John R. Nelson and Philip B. Smith – have a long association with each other. In their respective careers they have completed over 300 capital investments, managed over $2 billion in transactions over the past 20 years, and consistently produced returns in the top decile of their industry.
The CalVen Fund is a $195 million fund with $65 million in participation from LPs and $130 million targeted from SBA matching funds. An SBIC authorization provides for two-to-one leverage to limited partner capital. CalVen is uniquely positioned to take advantage of the growing trend to finance growth companies with debt rather than venture equity. Also, the SBIC structure of the fund can enhance LP returns and create a differentiated partnership.
CalCap’s investment activities are located strategically in the major markets for technology and life sciences companies – Los Angeles, Toronto, Silicon Valley, San Diego, New York, and Vancouver. This geographic advantage facilitates deal flow and ensures that most portfolio companies will be within close contact of a CalCap partner.