Vencore Capital Surpasses $100 Million in Total Funding to Over 250 Customers
LAKE OSWEGO, Ore., August 1, 2007 – Vencore Capital (formerly known as VenCore Solutions), a leading provider of venture debt financing solutions to early stage, emerging-growth companies, today announced that in July, the company surpassed $100 million in total funding since its founding in October, 2002. During this time period, more than 250 companies have received debt financing from Vencore.
Vencore Capital CEO Len Ludwig noted, “We’re thrilled at passing this significant milestone. Each dollar we lend to an emerging-growth company helps that company along its path to success. We are truly proud to have brought this capital to leading young companies around the United States.”
“When Len, Jim Johnson, our chief investment officer, and John Saefke, our CFO, founded Vencore in 2002, they had a hunch that there was a need in the financing market that was not being met by the venture banking firms and traditional venture capital investors,” added Art Hiemstra, president of Vencore Capital. “The market has been tremendously receptive to this concept as demonstrated by our continued strong growth quarter after quarter.”
In the past 15 months Vencore has opened offices in Colorado, Silicon Valley, Philadelphia, and the Mid-Atlantic and Southeast regions of the U.S. Another office is planned for Texas later this year. The company differentiates itself form other venture debt providers through its strong local presence and by focusing on early-stage emerging-growth companies in all regions of the U.S.
About Vencore Capital
Vencore Capital is a leading provider of venture debt financing solutions to early-stage, emerging-growth companies. Since its founding in October, 2002, the company has provided more than $100 million in venture debt capital to more than 250 angel- and venture capital-backed companies. Approximately 70% of Vencore’s clients are start-up technology firms backed by founders and angel investors, while the rest are later-stage companies backed by traditional venture capital firms.
Vencore operates nationwide with sales offices in Boston, Philadelphia, Charlottesville, Denver, Los Angeles, San Francisco, Silicon Valley, Portland, and Seattle. The company is privately held. For more information, visit www.vencorecapital.com, or call 503.675.3121.
Ki Seh Pond