Daily News: January 24, 2013

RedRidge Closes $16.5MM Facility to Focus Venture Partners


RedRidge Finance, through its RFG Fund I, and Atalaya Capital Management and its affiliates, announced the funding of an $8.5 million revolver and $8 million senior term loan facility to Focus Venture Partners.

This combined facility of $16.5 million was used in part to finance an acquisition which doubled the size of the company. In addition, the facility will be used to fund organic growth as well as to fund future acquisitions.

Chicago, IL-based RedRidge Finance Group, with offices in New York and Los Angeles is an independent privately held professional services company and direct debt capital provider.

Allentown, PA-based Focus Venture Partners is comprised of two primary business lines, temporary staffing and full service integration of the infrastructure supporting the growth of the telecommunications and information technology industries.