Wellington Financial Closes $177.5M Venture Debt Fund

Wellington Financial, a provider of venture debt and growth capital to high tech startups and other companies, said yesterday that it has closed on a $177.5M, fourth fund. Wellington is based in Canada, but has its U.S. offices in Santa Monica. The fund, Wellington Financial Fund IV, came from Canadian institutional investors, pension plans and family offices. The firm said it plans to open up a second, U.S> office in Palo Alto later this year. The company said that 20 of its last 25 investment were in U.S.-based, VC-backed companies.