VenSource Capital LLC (“VenSource”), a specialty finance company providing equipment financing to venture capital sponsored startups announced that it closed on a new $15 million equity round. The equity investment was made by CV Holdings, Inc., a publicly traded specialty finance company. VenSource will continue to specialize in providing equipment financing primarily to US-based venture capital-backed startups. VenSource and CVH have created a new joint venture, VenSource Management, LLC, based in Wilton, CT that will originate and manage all aspects of the lese and loan portfolio. The companies have also created a new holding company for the portfolio, VenSource Holdings, LLC, also based in Wilton.

VenSource Co-Founder and Co-Chief Executive Officer, George A. Parker, stated “We are very excited about this opportunity and we plan to position VenSource as a leader in providing flexible, efficient equipment financing to venture sponsored startup companies.” VenSource Co-Founder and Co-Chief Executive Officer, Arnold J. Hoegler, added “We are enthusiastic about building another major industry finance organization to serve our rapidly growing customers. The CVH investment allows us to serve this important market by growing our financing capabilities, and enables us to hire key people in our marketing, credit and portfolio administration functions.

CV Holdings Co-CEOs, Ken Witkin and Rick Koenigsberger, stated “We are very pleased with our new joint venture with VenSource Capital. We were very impressed by George’s and Arnie’s successful track record and outstanding reputation in the business. This investment into the venture leasing space fits within CV Holdings’ strategic plan to expand into several specialty finance businesses.”