Lighthouse Capital Partners Announces First Quarter Highlights; Unveils Plans for New Fund; Firm Approves $88 Million in Commitments in First Quarter; Firm Announces Formal Strategy to Further Investing in Israel.MENLO PARK Menlo Park.
1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there.
2 Uninc. , Calif. & CAMBRIDGE, Mass. -- Lighthouse Capital Partners (LCP (Link Control Protocol) See PPP.
LCP - Link Control Protocol ), a leading venture debt firm, today announced its first quarter highlights, including the firm's approval of $88 million in commitments to 16 emerging companies in the technology and life sciences sectors, its plans to raise its next fund, LCP VI, and its new strategy for expanding its investing reach outside the U.S. into Israel.
Continued investing momentum in Q1
LCP approved $88 million of commitments to 16 new portfolio companies during the first quarter of 2006, bringing the total number of investments from its fifth fund to more than 135 companies. During the quarter, LCP realized its 13th successful liquidity event within the last year with the acquisition of Sandburst by Broadcom.
"As we start off 2006, we are excited by the momentum we are experiencing in our key investing areas - communications, enterprise computing Refers to information technology in the larger company. See enterprise data and enterprise networking. , storage, biotechnology and medical devices - and the opportunities being presented to us by promising young companies in these markets," said Rick Stubblefield, co-founding managing director of Lighthouse Capital Partners. "Even more importantly, we are encouraged by the performance we are seeing within our existing portfolio, including the recent successful exits by Sandburst, CombinatoRx and NxStage. These successful companies, along with ten others that have achieved positive liquidity over the last year, position us to continue our strong track record of delivering top quartile Quartile
A statistical term describing a division of observations into four defined intervals based upon the values of the data and how they compare to the entire set of observations.
Each quartile contains 25% of the total observations. results within the venture industry."
Plans for a new fund announced
LCP also announced today that it plans to raise its next fund, LCP VI, this year. Fundraising for LCP VI will commence in the third quarter of 2006. The firm will use the new fund to continue its strategy of making investments in the form of secured loans to early- and expansion-stage companies that have received equity financing Equity Financing
The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. from top-tier venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed
5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M  . LCP plans to invest the new fund in its core sectors of technology and life sciences. Specific details on the size and closing date of the fund will be released at a later date.
New strategy for investing in Israel announced
LCP also announced separately today that it has entered into a partnership with Magnolia Capital to source investment opportunities in Israel. (See separate release issued today entitled, "Lighthouse Capital Partners and Magnolia Capital Join Forces to Bring Venture Lending to Emerging Companies in Israel"). Through this strategic alliance, the joint companies plan to bring the Lighthouse venture lending model to Israel and emerging Israeli-related companies in the technology and life sciences sectors.
"Venture lending has been an under-utilized tool in the Israeli start-up market and we are delighted to be teaming with Magnolia to make this kind of valuable capital available to promising emerging companies in the region," said Gwill York, co-founder and managing director of Lighthouse.
About Lighthouse Capital Partners
Lighthouse Capital Partners is a leading venture debt firm with investing offices in Menlo Park, Calif. and Cambridge, Mass. Lighthouse invests capital in the form of secured loans to early- and expansion-stage technology and life science companies that have received equity financing from top-tier venture capital firms. The Lighthouse investment team consists of seasoned professionals with a wide breadth of operating and financial experience. Over the past decade, LCP has funded some of the nation's pre-eminent young companies, including Millennium Pharmaceuticals Millennium Pharmaceuticals NASDAQ: MLNM is a biotechnology company based in the Cambridge, Massachusetts area of the United States of America. Founded in 1993, the company conducts research in various scientific areas, currently focusing on inflammation and oncology. , Netflix, nVidia, Ariba, Broadbase Software, Rhapsody (1) A subscription-based online music service from RealNetworks that gives users unlimited access to a vast library of major and independent label music. Within a single interface, Rhapsody provides access to streaming music, Internet radio and extensive music information and Networks, Foundry Networks Foundry Networks is a network system vendor selling high-end managed ethernet switches and routers. The company was founded in 1996 by Bobby R. Johnson, Jr. and is based in Santa Clara, California, USA. , Sirocco sirocco (sərŏk`ō) [Ital., from Arab. sharq=east], hot, dust-laden, dry, southerly wind originating in the N African desert (most commonly in the spring) and reaching Italy and nearby Mediterranean areas. Systems and Airespace.