Western Technology Investment Announces Closing of New Fund and Team Addition
PORTOLA VALLEY, Calif., January 7, 2013-- Western Technology Investment (WTI), a technology and life sciences focused venture debt fund based in Silicon Valley, today announced the formation of the firm’s 7th institutional fund. The $375 million fund is backed by leading institutional investors and plans to make commitments in amounts ranging from $250 thousand to $25 million. In addition, WTI announced that Patrick Lee has joined the firm as an Investment Partner.
"As WTI continues to experience strong growth in assets and quality investment opportunities, we are very pleased to welcome Patrick to the team as a Partner. We have known Patrick for a number of years. His broad network of relationships and extensive investment experience will be valuable as WTI continues to search the globe for opportunities to partner with the most promising technology and life science companies," said Maurice Werdegar of Western Technology Investment.
Mr. Lee has 20 years of experience in the technology industry as an investment banker, debt investor and equity investor. Prior to joining WTI, Patrick was with Pinnacle Ventures, JPMorgan Partners, Access Technology Partners, Hambrecht & Quist and Merrill Lynch.
About Western Technology Investment
Western Technology Investment (WTI) is a Silicon Valley based venture debt firm which invests globally in a wide range of technology and life science companies ranging from seed-stage start-ups to publicly-held companies. Over more than 30 years, WTI has provided in excess of $3 billion of growth capital to exceptional teams building market leading companies, including Facebook, Google, Ablation Frontiers, Brocade Communications, Cameron Health, Cerent, The Climate Corporation, IDEC Pharmaceuticals, InvenSense, IronPort Systems, Juniper Networks, Neutral Tandem, Postini, and Youku.
Please visit www.westerntech.com for more information.
All brands, names, or trademarks mentioned in this document are the property of their respective owners. Contact:
Western Technology Investment
Vikram Gupta, 650-234-4300
info@westerntech.com
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