Monthly Archives: May 2014

Plymouth Ventures Adds Chief Financial Officer

PlymouthVentures_iphone_144FOR IMMEDIATE RELEASE – May 15th, 2014
CONTACT: Mark Horne, Managing Partner
555 Briarwood Circle, Suite 210
Ann Arbor, Michigan 48108
(734) 747-9401 phone/ (734) 929-1811 fax
www.plymouthvc.com

 Plymouth Ventures Hires CFO

Plymouth Ventures announced that it has hired Chris Frick as its Chief Financial Officer.  Chris comes to Plymouth after 10 years of holding leadership positions in the financial management function at St. Mary’s of Michigan Health Care System.  Prior to his work with St. Mary’s, Chris was a Certified Public Accountant, and a Commercial Banker.  He has an MBA in management and BS in Accounting.

Plymouth’s Managing Partner, Mark Horne, commented, “Bringing on a full-time CFO is an important step in the growth of our firm.   It allows the partners to focus on the core activities of the firm: origination, closing, and successfully exiting investments.  Chris has shown himself to be skilled at taking ownership of key aspects of our operations.  With Plymouth Ventures III about to have its final close, it is critical to have a professional such as Chris to manage our “back office” financial activities and third-party service providers”.

Chris will work out of Plymouth’s offices in Ann Arbor.
 

About Plymouth Ventures
Plymouth Ventures is the manager for Plymouth Venture Partners I, Plymouth Venture Partners II, and Plymouth Venture Partners III. The company has four partners, Mark Horne, Ian Bund, Jeff Barry, and Kevin Terrasi. It is headquartered in Ann Arbor, Michigan. For more information, please visit www.plymouthvc.com.

Renaissance Ventures Invests in PVP III

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The Renaissance Venture Capital Fund, the Ann Arbor-based fund created by Business Leaders for Michigan, announced that it has invested $4 million in Plymouth Venture Partners III.

“Plymouth has a really interesting focus,” he said. “They don’t invest in typical startups. They invest in companies with $2 million to $5 million in revenue that used to be serviced by the banks or other lenders but who can’t get a loan anymore because the banks are backing away from smaller companies.  So they fill a nice post-2008-crash niche, one that won’t end soon. So they’re unlike any other venture fund in town because they are growth-stage-oriented. For us, it is a nice contrast to the other investments we’re making.”

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Plymouth Ventures III Invests in Cleveland-based Certified Security Solutions

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Certified Security Solutions, Inc. (CSS) on Thursday announced its strategic relationship with Plymouth Ventures, a growth-company portfolio manager.

Kevin von Keyserling, CSS President and CEO added, “We are pleased to be working with Plymouth Ventures as we enter the next growth phase in our company’s progression.  Plymouth’s experienced operational team, and the financing round they led, will make it possible to fully deploy our strategy in 2014.  In addition, this allows us to better service our customers and provide them with the latest solutions to securely operate their respective businesses.”

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XanEdu to Merge with AcademicPub

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Ann Arbor-based XanEdu Inc. and New York City-based SharedBook Inc. have signed an agreement to merge the two privately held academic resource companies.

“The combined value proposition for customers is immense,” said John DeBoer, XanEdu CEO. “Separately, we each solve different industry needs. Together, we become the best end-to-end provider in the market, providing both full-service and do-it-yourself options. The combination allows us to better serve all of our higher educationconstituents — institutions, faculty, students, bookstores, publishers — as well as enter new markets.”

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Plymouth Ventures Leads Series A in 365 Retail Markets

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PVP II invests in leading micromarkets innovator, 365 Retail.

“Plymouth is very pleased to have made this investment in 365.” Jeff Barry, Partner at Plymouth Ventures, said of 365 Retail Markets. “We have known about Joe Hessling and 365’s extraordinary growth over the past three years and looked for the opportunity to partner with them. We believe this capital infusion is perfectly timed as 365 exceeded $10 million in annual revenue in 2013. This achievement is even more impressive when taking into account how quickly they’ve reached it and the small amount of capital it took to get there. The MicroMarket segment is growing rapidly and 365 is a pioneer in the industry. We look forward to a strong partnership between Plymouth and 365 as the company continues to grow.”

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Gilmore, Jasion, & Mahler selected as Plymouth Ventures Auditors

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Mark Horne, Managing Partner of Plymouth Ventures added, “GJM has the depth and expertise we need as we continue to grow our venture fund activity. We are excited to launch our next fund. It’s a great time to invest in this region, and we are seeing a steady flow of interesting new opportunities. This strong first close will allow us to seamlessly move from Fund II to Fund III, and continue to invest without interruption.”  After two months of initial fundraising, PVP III has a total of$39 millionin signed commitments.

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Plymouth Venture Partners Fund II Makes Follow-on Investments in Four Portfolio Companies in Q4

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Active 4th quarter for Plymouth Ventures II:

Mark Horne, Plymouth Venture’s Chief Executive Officer, commented, “As the PVP II portfolio continues to mature, we are pleased to see our companies grow and develop new opportunities for investment. We love to put more money to work with these winning teams. Each of these companies has created significant value since we originally invested in them. We are excited to partner with them and continue to fund their growth.”

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