ATEL Ventures Announces Record First Half of 2012
ATEL Ventures announced that the first half of 2012 was the best ever in company history. For the six months ending June 30, 2012, the company’s funded dollar amount increased by over 370% compared to the previous period in 2011.
The change in the economic landscape beginning in 2008 allowed ATEL Ventures to capitalize on an emerging growth industry that is dependent upon venture debt and lease financing to capitalize its business expansion.
The company attributes the record increase to a favorable lending climate, strong relationships within the venture capital community and ATEL’s connection with entrepreneurs in the emerging growth industries. “We are very pleased with both the quality and the volume of business funded by ATEL Ventures to date,” said Steven Rea, executive vice president of ATEL Ventures. “We are excited to partner with these promising companies by providing non-dilutive capital that enables them to reach that next milestone and grow their business.”
ATEL Capital Group formed ATEL Ventures to provide growth capital term loans and equipment financing to emerging growth companies in information technology, life sciences and green technology.
