NXT Capital Launches Venture Finance Business



NXT Capital announced the launch of NXT Capital Venture Finance. This new business will be led by Jan Haas, former president and CEO of Velocity Financial Group and a 15-year industry veteran, who will be joined at NXT Capital by the entire Velocity Financial Group team.

In a press release, the company noted the launch of Venture Finance is another important step in NXT Capital’s development as a diversified commercial finance company. NXT Capital Venture Finance complements NXT Capital’s Corporate Finance and Real Estate Finance groups, extending NXT’s reach to emerging growth companies backed by venture capital and private equity firms, particularly those in the technology and life science sectors. NXT Capital Venture Finance provides senior and subordinated term loans in the $1 million to $20 million range to these companies.

“We’re excited to be joined by Jan and his colleagues in launching NXT Capital Venture Finance and are confident the team’s extensive domain expertise, impressive track record, consistent commitment to the entrepreneurial community and past experience building de novo businesses will be vital ingredients in the success of this initiative,” said Robert Radway, chairman and CEO of NXT Capital. “Venture finance is a business we are very familiar with and one that represents a logical, attractive expansion of the NXT platform.”

Founded in 2007, Velocity Financial Group provided alternative capital to a wide range of growth stage companies. Velocity has invested in more than 30 venture and private equity-backed technology, life sciences and clean energy companies. Its portfolio includes such notable industry leaders as Cadent, Schoolnet, Seven and Suniva.

“Joining forces with NXT Capital makes perfect sense for our clients and the team,” said Haas. “With NXT’s substantial and stable capital base, familiarity with venture finance and a quick and reliable decision making process, we are confident our team will quickly establish NXT Capital Venture Finance as a market leader and the preferred source of financing for our clients.”


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

No tags available

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com