Vencore Portfolio Client is Acquired by Starbucks
PORTLAND, May 21, 2008 – Vencore Capital’s most recent portfolio success story comes from Seattle where Coffee Equipment Company was sold to Starbucks (SBUX) for an undisclosed amount. Coffee Equipment Company is the creator of the Clover system which allows a barista to brew individual cups of coffee quickly. The Clover will be rolled out in select Starbucks stores both domestically and internationally.
A growth capital debt facility from Vencore Capital helped Coffee Equipment Company bridge to the acquisition by Starbucks. Vencore Capital is a venture debt provider that offers loan and lease products to start up and early stage companies. With over 200 portfolio clients, Vencore has helped many emerging companies reach important benchmarks.
About Vencore Capital
Vencore Capital was founded by entrepreneurs who have served emerging-growth companies with venture debt financing for the past 20 years. Vencore distinguishes itself from other lenders by its commitment to provide capital earlier in a company's lifecycle — prior to traditional venture-capital financing — and through its willingness to do smaller deals with more flexible structures and pricing. With relatively small, well-timed infusions of cash, Vencore debt facilities can acquire critical human resources and capital equipment, complete strategic product development activities, implement key go-to-market strategies, and build brand and market awareness. For more information, please visit www.vencorecapital.com
Ki Seh Pond