Tuesday, 21 April 2015
Last updated 12 hours ago
Aug 1 2011 | 2:13pm ET
Guggenheim Venture Partners has spun out of Guggenheim Partners to become a new private equity and venture capital firm, Alara Capital.
The entire GVP team—including managing directors Mike Burns and Eric Rothfus—has moved to Alara, which will have no affiliation with Guggenheim.
“We are grateful to Guggenheim for helping us start our first fund and for the firm's help with the spin out and launch of new funds as Alara,” said Rothfus.
Alara will continue to operate from offices in King of Prussia, Pa., and Austin, Texas, and will manage Guggenheim Technology Ventures I, a fund begun in 2008 with a total today of $65 million in capital and stakes in nine technology companies.
Alara will continue investing in undercapitalized technology companies with practices in distressed venture capital, early stage ventures and technology spin-outs. Alara will expand that focus into growth equity and active value investing with future private equity funds.
Future funds will be set up independently from Guggenheim, one of the largest limited partners in Alara’s first fund established under Guggenheim Partners.
Since its start in October 2008, Guggenheim Technology Ventures I has invested in numerous companies including Ciclon Semiconductor Device Corporation, which was acquired by Texas Instruments in 2009.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…