DC Community Ventures Provides Additional Mezzanine Debt Financing to Catalyst IT Services
Additional $200,000 loan marks an expansion of existing $400,000 mezzanine loan.
WASHINGTON, DC, January 13, 2014-- DC Community Ventures (DCCV), a community development venture capital firm based in Washington DC, announced that it has provided an additional $200,000 of mezzanine debt financing to support the growth of Catalyst IT Services. The capital infusion marks an expansion of the existing $400,000 mezzanine loan that DCCV provided to Catalyst exactly two years ago.
Baltimore, MD-based Catalyst IT Services is a leading onshore information technology outsourcing and consulting provider. Catalyst has a particular focus on agile development of commercial software products, data intensive systems, and core strategic applications, The company has received significant exposure from Gartner and other influential technology analysts for its leadership in agile software development, onshoring enabled by big data-driven team assembly, and mobile application development. By applying big data to team assembly, Catalyst enables its clients, including Nike, General Dynamics, and Red Hat, to benefit from productivity rates three times and defect rates of less than half than their other alternatives.
“DC Community Ventures is committed to supporting Catalyst IT’s continued growth. The company has executed its business plan successfully, more than doubling revenue over the past two years while significantly deepening its management talent,” said Karim Zia, Managing Partner for DC Community Ventures. “We are particularly impressed that its unique talent identification solution and training capabilities has resulted in the creation of nearly 100 high quality jobs for IT professionals over the past two years.”
"We appreciate the additional support provided by DC Community Ventures, as we look to continue our rapid growth by leveraging our position as the leading onshore alternative to offshore information technology outsourcing and consulting," said Michael Rosenbaum, CEO of Catalyst IT Services.
About DC Community Ventures
Established in 2011, DC Community Ventures is a community development venture capital firm with a dual focus of investing in companies in the Greater Washington, DC area that create jobs for low to moderate income employees or provide goods and services to underserved communities, and delivering favorable returns for its investors. The Fund focuses mostly on mid- to late-stage investments, specifically in businesses that are currently generating profits or have significant profit potential. DC Community Ventures also seeks to co-invest with other CDVC funds, traditional VC funds, and institutional investors in equity or debt investments. For more information, please visit http://www.dccommunityventures.com.
Venture Capital Database