NEW YORK, NY and BOULDER, CO--(Marketwired - Jun 8, 2015) - DH Capital, a New York-based investment bank focused on Software-as-a-Service and Internet infrastructure companies, announced its affiliate SaaS Capital, the pioneer provider of debt-based growth capital for SaaS companies, has closed the first five deals of its newly raised $58 million second fund. SaaS Capital's first fund, which closed in May 2012, had $22.5 million in LP commitments and provided facilities to 14 SaaS companies.
The five inaugural facilities ranged in size from $2.5 million to $5 million in funding and were provided to Webgility -- a leading provider of e-commerce accounting automation software, inDinero -- an innovative financial software company, FreeAgent -- the UK's market leader in cloud accounting software, WireDrive -- a platform for media and production collaboration and storage, and Updox -- provider of the industry leading Physician Connectivity Platform.
Teaming with SaaS Capital to finance growth, companies are able to draw more capital over a longer duration than from other lenders, while avoiding ownership dilution. SaaS Capital's revenue-based lines of credit enable companies to strategically fund long-term objectives -- without the rigid requirements of traditional bank loans.
"These first five companies are exactly the type of companies we were looking to assist when we established our new fund in February," said Todd Gardner, Founder and Managing Director of SaaS Capital. "All of these companies are expanding rapidly and have strong leadership teams; they simply needed more capital to seize the market opportunity in front of them. We're honored to be playing a role in their success and we look forward to helping them reach that next level."
SaaS Capital launched both Fund I and Fund II in partnership with DH Capital and, through this partnership, DH Capital can also assist SaaS businesses with a variety of M&A and capital raising advisory services.
"We are grateful to our highly supportive limited partners who continue to believe in the SaaS Capital model," said Peter Hopper, CEO of DH Capital. "We continue to see huge opportunities in the space and are excited to continue our partnership with SaaS Capital, serving companies using a Software-as-a-Service business model."
"DH Capital was instrumental in raising the new fund," said Gardner. "Additionally, the firm continues to provide important ongoing support by assisting our portfolio companies with acquisition, exit or follow-on private equity transactions as needs arise."
About DH Capital
DH Capital is a private investment banking partnership serving companies in the Internet infrastructure, communications, and SaaS sectors. Headquartered in New York City with offices in Boulder, Colorado, the firm's principals have extensive experience and proven abilities in capital formation, finance, research, business development and operations. DH Capital provides a full range of advisory services to companies and financial institutions, including mergers and acquisitions, private capital placements, financial restructuring, and operational consulting. DH Capital has completed more than 145 M&A transactions and private capital placements totaling more than $13.5 billion in value.
For more information on DH Capital, visit their website at www.dhcapital.com.
About SaaS Capital
SaaS Capital is the pioneer provider of debt-based growth capital for SaaS companies. By leveraging the predictable revenue streams of the SaaS business model, SaaS Capital allows companies to use debt instead of equity to fund investments in sales, marketing, and new product development. SaaS Capital's line of credit approach combines more availability and longer terms, with more flexible drawdown and repayment, versus other lenders in the market. Through its partnership with DH Capital, SaaS Capital can also assist with a variety of M&A and capital raising advisory services.
To learn more about SaaS Capital visit: www.saas-capital.com.
Contact Information:
Contact:
DH Capital
212-774-3720
www.dhcapital.com