Phone (734) 747-9401 Fax (734) 929-1811
FOR IMMEDIATE RELEASE – September 21, 2011
CONTACT: Mark Horne, CEO
Ann Arbor, Michigan 48104
(734) 747-9401 phone/ (734) 929-1811 fax
Plymouth Venture Partners II Completes Fund-Raising at $41.0 Million
Managing Partner Mark Horne reported today that fund-raising for Plymouth Venture Partners II has successfully concluded with $41 million of capital committed (slightly above the target range of $30 to $40 million).
The strategy of Plymouth Ventures II is to provide growth capital to young companies headquartered in the Great Lakes region that have begun commercialization of their products or services in the market and need capital for their next growth step. Plymouth Ventures II is looking for companies seeking up to $5 million in total capital.
Mark Horne commented, “We have seen a considerable increase in the number of Great Lakes early stage companies, but there is a significant shortage of capital to support their growth. Our new Fund has been raised to meet this need.”
Mr. Horne added, “This is the final closing of Plymouth Ventures II. Through earlier closings the Fund has already invested in three companies. These companies have implemented their growth plans and are demonstrating the importance of the timely raising of such capital.”
Plymouth Ventures II follows on the heels of Fund I which completed its new investment cycle in 2009 and has been in a successful exit mode in recent years.
About Plymouth Venture Partners II, L.P.
Fund II is a follow-on fund to Plymouth Venture Partners Fund I. Plymouth Venture Partners I became fully invested in 2009 after completing investments in 29 companies. Plymouth Ventures II is actively looking to invest in strong early expansion-stage companies in the Great Lakes region. Visit www.plymouthvc.com for more information.
About Plymouth Management Company
Plymouth Management Company is the manager for Plymouth Venture Partners I and Plymouth Venture Partners II. The company has four partners: Mark Horne, Ian Bund, Bob Savage, and Jeff Barry, with offices in Ann Arbor, Michigan and Toledo, Ohio. Visit www.plymouthvc.com for more information.