Dan Lee Joins Comvest Capital as a Managing Director

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Posted December 13, 2011

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Mr. Lee has extensive experience financing companies throughout the capital structure and at every stage of the cycle, from earlier stage venture-backed enterprises to deeply distressed situations. Prior to joining Comvest, Mr. Lee was a founding member of Dymas Capital, a middle market lending platform backed by Cerberus Capital. He served on the Investment Committee, headed the New York office, and was instrumental in Dymas’ success during his 7 year tenure. Mr. Lee went on to become a co-founder of Square 1 Bank’s Late Stage lending group, where he built a franchise financing high growth companies in the lower middle market. His lending career started at Heller Financial, underwriting and syndicating senior debt facilities associated with buyouts and recapitalizations. Mr. Lee also served as a Managing Director with Kugman Partners, a leading middle market Turnaround firm, and as an Investment Banker at Salomon Smith Barney in the Energy sector. He began his career at Arthur Andersen. Mr. Lee graduated from the University of Notre Dame with a BBA in Accounting, and earned an MBA with Distinction in Finance from the University of Michigan Ross School of Business.
Comvest Capital Partner, Robert O’Sullivan, said “We are delighted to have Dan join our lending team. He comes to us with a strong and unique background, and a wide range of experience which will benefit the group. Having worked closely with one of our Managing Directors, Greg Reynolds, in building Dymas Capital Management as well as at Heller Financial, Dan makes a very complementary addition to the team. This addition further demonstrates our commitment to growing our lower middle market lending platform at Comvest, providing capital to this underserved market place for growth companies.”
The Comvest Group is a leading private investment firm focused on providing debt and equity capital to lower middle-market companies. Our firm includes seasoned, senior level operating executives at all levels who partner with managers and owners of companies to grow businesses and create long-term value. Since 2000, Comvest has invested more than $1.3 billion of capital in over 100 public and private companies. Please visit www.comvest.com.

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Cross Atlantic Capital Partners Leads Series A Funding for Sagence Group

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Posted December 12, 2011

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RADNOR, Pa.–(BUSINESS WIRE)–Cross Atlantic Capital Partners announced today that it led the Series A financing round for Sagence Group, a management consulting firm focused on providing data strategy, management and analytics services to companies in Financial Services, Insurance, Healthcare, Consumer Services and Consumer Products industries. Terms of the deal were not disclosed.
In addition to providing working capital, the investment will enable the company to expand sales and marketing and hire additional professional services staff.
“We believe that Sagence Group is unique in its ability to help its clients use their information assets in a strategic manner, due in large part to the management’s extensive experience in IT-focused management consulting, combined with its focus on data management and analytics,” said Don Caldwell, founder and CEO of Cross Atlantic Capital Partners. “The management team is comprised of seasoned entrepreneurs who have co-founded successful companies. They know how to attract and service clients, build long-term relationships, and grow a successful consulting firm.”
Sagence Group was founded by Bruce Quade and Alan Matsumura, both founding partners of Diamond Management & Technology Consultants, a successful management consulting firm that was acquired by PricewaterhouseCoopers for $378 million in 2010. Ten of Sagence’s current eleven partners were partners at Diamond, and three of which were founding partners.
Research firm Gartner Group estimates that the Data Analytics market represents $1.65 billion annually, and predicts explosive growth for the industry as the amount of data produced grows tenfold or more in the next 8-10 years. Gartner’s research also shows that Data Analytics has been cited as a ‘top five’ priority by CIOs over the last three years.
Commensurate with the funding, Cross Atlantic will name Donald Caldwell to the Board of Directors.
About Cross Atlantic Capital Partners
Based in Radnor, Pa., Cross Atlantic Capital Partners (“XACP”) is one of the leading venture capital firms based in the mid-Atlantic region, with over $500 million under management. XACP invests primarily in technology companies in the United States, Ireland, and the United Kingdom. Leveraging its deep, multi-disciplined network of global contacts, and the operational experience of its investment team, the firm actively assists its entrepreneurs and portfolio companies. The XACP portfolio currently includes a diverse array of companies focusing on Enterprise Software, SaaS, IT Services, Telecommunications, Financial Services, and other innovative technologies. http://www.xacp.com/.

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