Fifth Street Technology Closes Three New Investments
Fifth Street Management announced that its venture lending group, Fifth Street Technology Partners, closed three new technology investments totaling $55 million so far in the calendar year 2014, $40 million of which was funded at close. Fifth Street Finance Corp. FSC funded the transactions and received equity warrants for each, increasing the size of Fifth Street’s venture lending portfolio to $79 million.
“With the closing of these deals, we continue to build our brand with the venture capital community, along with a robust pipeline of pending opportunities,” said Michael David, managing director and head of Fifth Street Technology Partners, adding, “We believe this momentum reflects the strong demand we are seeing for our venture debt products, as well as the strength of Fifth Street’s balance sheet and leading origination platform.”
The three recently completed transactions include: