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US Lighthouse Capital closes fifth venture debt fund28/05/2003. Source: AltAssets. 
 US venture debt firm, Lighthouse Capital Partners, has closed its latest fund at $366m. LCP V is the fifth in the firm's series of funds focusing on the technology and life science sectors.
Lighthouse Capital makes investments in the form of secured loans to early and expansion-stage companies that have received equity financing from mainstream venture capital firms. Lighthouse invests across a range of sectors including communications, enterprise computing, storage, biotechnology and medical devices.
‘Lighthouse continues its decade-long commitment to finding and investing in the most promising young technology companies,' said Rick Stubblefield, a founding managing director of the firm. ‘With LCP V, we are well-capitalised over the long term to finance the growth of high potential companies, and are dedicated to providing the patience and support that emerging businesses need to thrive though various economic cycles.'
Lighthouse Capital's latest fund received commitments from a number of existing investors including Massachusetts Institute of Technology, University of Richmond and Dartmouth College.
New limited partners include Teachers Insurance and Annuity Association of America, State Teachers Retirement System of Ohio, Key Capital Corporation, SDCERA, Quellos Private Capital, Howard Hughes Medical Institute, Hamilton Lane and Verizon Investment Management Corporation.
Commercial banks are becoming increasingly risk-averse and start-ups have begun to look to venture debt specialists to support deals. Other venture debt firms include GE Capital, Western Technology Investment and GATX Ventures.
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