Vancouver-based Vistara Capital Partners Closes Major $100 Million Technology Growth Capital FundThursday, July 30, 2015
Vancouver, BC, July 30, 2015--(T-Net)--Vistara Capital Partners announced today that Vistara Capital Partners Fund I LP has reached its full $100 million fundraising target just four months after commencing fundraising.
"Vistara" (Sanskrit for "expansion") provides growth capital to technology and technology-enabled services companies generating $10 million to $200 million in revenue and located across Canada and the western United States.
Filling the Growth Financing Gap for Mid-Later Stage Technology Companies
"We fill the financing gap between where banks leave off for higher-growth technology companies, and where traditional venture capital, private equity or the public equity markets typically look to play," says Fabio Banducci, Co-Founder and Managing Partner. "With creative and flexible debt-oriented solutions, we can support the growth-capital needs of companies with far less dilution than equity-only financings, or in some cases, help companies avoid selling too early when growth capital simply isn't available to them."
The fund will invest between $5 million and $15 million per company in private or public companies, with additional co-investment capacity through its network of LPs. Investments are typically structured in the form of:
Seasoned Management Team and Strong LP Investor Base
With a combined 40+ years in the industry, Banducci and Co-Founder Randy Garg have committed 10% of the total closing amount as the General Partners. Their relationships with accomplished entrepreneurs and C-level executives from the technology sector and other industries, family office investors and private foundations, allowed the fund to close with 45 LP investors across Canada at least six months ahead of schedule.
"Leveraging the experience and contacts of our investors across a broad cross-section of technology-related sectors, including enterprise software, mobile, media & communications, security, fintech, healthcare, medical devices, food & agriculture, and technology-enabled services, uniquely positions us to help a wide variety of technology growth companies beyond just funding," says Randy Garg, Co-Founder and Managing Partner.
"It's been a very busy past few months completing fundraising, leading our first investment, and continuing to build out our team. We are excited to now focus entirely on the primary task at hand of finding and enabling a dozen or more of the next great leading technology companies with this inaugural fund."
Editor's Note: Vistara Capital co-founder and Managing Partner Randy Garg is a well known Vancouver tech and business finance executive.
Prior to co-founding Vistara Capital Partners, Randy was Managing Partner of Beedie Capital Partners (2011-2015); the investment arm of the family owned Beedie Development Group. During that time he sourced, completed and managed numerous growth capital financings with particular emphasis on the technology sector.
He previously spent six years with PwC Corporate Finance (2004-2010), most recently as a Managing Director. While there, Randy led the firm's corporate finance activities across Western Canada for the technology practice executing on numerous corporate finance, M&A and financing mandates.
Prior to PwC, he spent over 10 years as a principal with Discovery Capital(1993-2004) co-managing its family of venture capital funds. During this time, he was responsible for structuring and managing direct equity investments and served on the Boards of a number of earlier stage technology portfolio companies.
Co-founder and Managing Partner Fabio M. Banducci is an equally well known tech company operating executive with a long background in finance as well.
Fabio was President and CEO of PEER 1 Hosting from September 2006 - August 2013. Fabio was recruited by the Co-Founder and Chairman in October 2005 to lead a turnaround of the company and re-position it for growth. At the time, PEER 1 was a publicly listed company with a market capitalization of approximately C$35M. In January 2013, PEER 1 was acquired by Cogeco Cable in an all cash transaction valued at approximately C$650M.
Prior to that Mr. Banducci was Managing Director, Investment Banking
at Haywood Securities Inc. from September 1991 - September 2003.
About Vistara Capital Partners
Based in Vancouver BC, Vistara Capital Partners provides highly flexible and tailored growth capital financing (debt and/or equity) to mid-later stage technology and technology-enabled services companies across Canada and the western US. Founded, managed, and funded by seasoned technology finance and operating executives, Vistara is focused on enabling the growth and expansion of the companies it partners with. Additional information is available at www.vistaracapital.com.
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