Ignition Partners Announces Affiliate Fund Focused on Later, Growth Stage Investments
Ignition Growth Capital Fund Formed to Expand Commitment to Scaling Strong CompaniesBELLEVUE, WA - October 1, 2007 -- Ignition Partners, a premier private investment group with affiliate offices in the Northwest, and Shanghai China, today announced the formation of the Ignition Growth Capital Fund as the newest member of its family of affiliated funds. The $275 million fund will focus on privately negotiated investments in EBITDA positive companies that have demonstrated strong market positions, revenue traction and clear opportunities to accelerate growth. Over 90 percent of the funds raised are from existing institutional investor relationships.
"The Northwest is a vibrant market with a growing number of excellent companies led by industry veterans who have both global ambitions and the abilities to realize them," said Jon Anderson, Ignition founder and partner in the Fund. "We are happy to be able to provide the best of such companies with access to the resources they need to scale either organically or by acquisition."
The Ignition Growth Capital Fund is a continuation of the strategy the group announced over a year ago when it raised an $80 million annex to its third venture fund for the purpose of helping just such companies achieve and exploit scale more quickly. Investments from that pool of capital included funding for several acquisitions transactions by Seattle-based maritime company, SeaMobile; investment in a profitable Seattle-based healthcare services company, Liberty Dialysis; and acquisition of a payment process technology and services company, Valutech, as part of an entrepreneur in residence effort with a Seattle-based industry veteran.
"We are encouraged by the successful investments made out of Ignition's annex fund," said Geoffrey Love of the Wellcome Trust in London. "We believe there are many more opportunities like this in the Northwest and elsewhere for this team and for the strategy of the growth capital fund."
"Because of the support of the Ignition team I have been able to scale my company aggressively and have been able to seize opportunity in the great growth market," said Bill Marks Jr., CEO of SeaMobile. "The formation of the new growth capital fund is a great extension of that strategy. The fund's team members have been excellent partners to me and my company at all stages of its growth. Any entrepreneur with similar goals and needs would be very well served to work with them."
Ignition today also announced the formation of its fourth early stage venture capital fund, Ignition Venture Partners IV. Ignition's other affiliated fund, Qiming Ventures, which targets investments in companies headquartered in China, was announced early last year. The Ignition Growth Capital Fund will be managed by long-time Ignition partners and founders, Jon Anderson, Richard Tong, John Zagula and Robert Headley (who also serves as administrative partner across this fund and Ignition Venture Partners IV). The Ignition Growth Capital Fund will make its investment decisions autonomously, but like the Qiming China affiliate, it will work in an integrated fashion, drawing on the combined team and resources of all Ignition affiliated funds across the investment process from sourcing, due diligence, business development to shared back office and administrative functions.
About Ignition Growth Capital
Ignition Growth Capital, based in Bellevue, Washington, is a private investment capital fund focused principally on later stage, profitable, high growth businesses with advantaged market positions and that possess strong prospects for accelerated future growth either organically or by acquisition. The fund offers entrepreneurs access to a unique combination of growth capital and access to local and global operating resources, and investors the opportunity for substantial long-term capital appreciation. The Growth Capital Fund is part of the Ignition Partners affiliated family of funds.
About Ignition Partners
Ignition Partners, (www.ignitionpartners.com) is a premier private investment group with offices in Bellevue, Washington and Shanghai China. Its three categories of funds - early stage venture, growth capital and China ventures - brings together an unparalleled combination of domain focus, functional expertise and global operational experience with partners from leadership positions at Microsoft, McCaw Cellular Communications, AT&T Wireless, Cisco, Starbucks and other industry leaders.
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