Fund Closing Marks The Firm’s Ninth Advisory Transaction in 2015 for Clients Based in the Greater Baltimore Region
SC&H Capital, a leading investment banking and advisory firm focused on middle market and growth companies, served as financial advisor to TCP Venture Capital on its first closing of the Propel Baltimore Fund II. This transaction marks SC&H Capital’s ninth deal closing involving Greater Baltimore Region firms in 2015.
Propel Baltimore Fund I, a venture capital fund focused on investing in compelling early-stage companies that would be attracted by capital to anchor their businesses in Baltimore City, required additional capital to accelerate growth. Propel II will continue to focus on high growth investment opportunities, primarily in the technology sector, with the goal of keeping and bringing growth companies and jobs to Baltimore City.
“As a Baltimore-based company, we are fully committed to developing our community’s assets, which include many emerging start-ups that rival the top in the country,” said Christopher Helmrath, Managing Director, SC&H Capital. “We are confident that the Propel Baltimore Fund II will deliver on its vision to create growth and job opportunities in Baltimore’s rising tech corridor.”
“Propel Baltimore is actually a continuation of what we started in January, when Capricor Therapeutics (Nasdaq:CAPR) announced the completion of its PIPE offering,” said Kevin O’Sullivan, a Principal with SC&H Capital. Kevin added, “It has been rewarding to play a critical role in the expansion of many Baltimore area companies. We look forward to supporting more growth opportunities, both locally and nationally, in 2016.”
SC&H Capital advised on two capital raising transactions for Capricor. The company is backed by many local investors.
Additional transactions supported by SC&H Capital this year involving Baltimore-area companies include the recapitalization of Proposal Software, Inc. by Camden Partners, the sale of CDM Retirement Consultants to Northwest Plan Services, Inc., the sale of Sage Management Enterprises to Xator Corporation, and the buyout of Broadcast Sports, Inc. The firm also advised on a capital raising transaction for Pegged Software based in downtown Baltimore, and served as the exclusive advisor to Carroll Hospital Center in its partnership with LifeBridge Health.
Click here to read the full press release on the closing of Propel Baltimore Fund II.