Thursday, March 5, 2015

SaaS Capital Raises $58M Debt Fund, Sets Up Shop In Seattle

SaaS Capital, a provider of debt-based growth capital for software-as-a-service companies, is announcing this mornig that it has raised a new, $58M debt fund and setting up shop in Seattle. The fund is the firm's second. SaaS capital said the funding will expand its funding capacity to $75 to $100M. The company said it intends to invest those funds into approximately 25 new portfolio companies, in amounts of $2M to $10M. As part of that new fund, SaaS Capital said it has hired Rob Belcher, formerly of Lighter Capital, as a new Managing Director. The company said that the hire will help strengthen its presence on the West Coast. SaaS Capital--like Lighter Capital--offers up debt-based growth capital, rather than the more traditional equity funding from venture investors.