Edison Venture Fund, an investment firm based at 1009 Lenox Drive, has announced the final closing of Edison Venture Fund VII at $249 million.
The fund has already invested $55 million in 10 portfolio companies. According to officials, the portfolio delivered 50 percent revenue growth and current fair value rising to 1.4 times investment cost in 2011.
Edison typically acts as the sole or lead investor. In addition to providing expansion capital, Edison provides funds for management buyouts, recapitalizations, spinouts, and secondary stock purchases.
“Investors were attracted by our proven strategy, team, value add, and track record. Edison invests in entrepreneurs and management teams with capital efficient business models that are looking for a business partner to join them in their rapid expansion toward a premium exit,” said Chris Sugden, general partner.
“We welcome repeat investors and new limited partners that value Edison’s consistency and experience investing over 25 plus years,” said company founder John Martinson.
Edison makes initial investments of $5 million to $10 million in technology companies with a $5 million to $20 million revenue run rate. The company invests up to $20 million for expansion, acquisitions and shareholder liquidity.
The initial Edison VII investments are: Andera, Providence, RI; Call Copy, Columbus, OH; Kemp Technologies, Yaphank, NY; Lifebooker, Brooklyn, NY; MediaBrix, New York City; Motionsoft, Rockville, MD; NetProspex, Waltham, MA; Ontuitive, Rochester, NY; Premier Healthcare Exchange, of Bedminster, NJ; and Salsa Labs, Washington, DC.
Since it was founded in 1986, Edison has invested in 186 companies and completed 127 exits including 17 IPOs. Its active portfolio includes 59 companies.
Edison VII Limited Partners include: Advantus; certain funds managed by BlackRock Private Equity Partners; New Mexico Employee Retirement Board; Neuberger Berman; Ohio Capital Fund; Orix; Permal Capital; Phoenix Life; and Sentry Insurance.
Edison also has offices in New York, McLean, VA, Needham, MA, and Cleveland, OH. The company currently manages over $700 million and is actively making new investments.
Edison Venture Fund, 1009 Lenox Drive, Building 4, Suite 200, Lawrenceville 08648; 609-896-1900; fax, 609-896-0066. John H. Martinson, managing partner. www.edisonventure.com