PRESS RELEASE:
Wellington recruits SVP and Head of Life Sciences from leading U.S. commercial bank to drive financings in innovative life sciences companies
MENLO PARK, Calif. & TORONTO–(BUSINESS WIRE)–August 16, 2016–
Wellington Financial LP, a privately-held specialty finance firm, announced today that it is growing its expertise in a key sector of the innovation economy. To lead this endeavor, Jeff Chapman has joined the firm’s Menlo Park office as Partner and Head of Healthcare & Life Sciences.
Mr. Chapman is a seasoned life sciences investment professional, most recently serving as Senior Vice President and Head of Life Sciences at Comerica Bank where he was responsible for life science debt financings within its multi-billion dollar Technology and Life Science loan portfolio. With Chapman joining the team in the wake of the firm’s recent successful close of Fund V, Wellington Financial can substantially increase its growth capital investments in innovative life science and healthcare companies.
“Life sciences has always presented exciting investment opportunities with so many innovative companies bringing transformative technologies, services and products to market in the U.S., Canada and United Kingdom. We’re delighted to welcome Jeff to our team in Menlo Park to enable us to best capitalize on this opportunity and help leading entrepreneurs continue to excel with our growth capital,” said Mark McQueen, Wellington Financial’s President and Chief Executive Officer. “At his prior institution, Jeff established himself as one of the leaders in innovation lending. Jeff has proven time and again that he is committed to the success of entrepreneurs, making him a great fit for our team. His expertise will ensure we’re looking at the right opportunities as we grow our efforts within life sciences and healthcare.”
Prior to Comerica Bank, Chapman served as Director at a private venture debt firm, where he financed companies in the biopharmaceutical, medical device, diagnostic and tools industries. Previously he worked in Johnson & Johnson’s pharmaceutical business development group where he focused on the metabolic and immune-mediated inflammatory disorders therapeutic areas. Chapman began his career working at LabVelocity, a venture-backed life sciences technology start-up.
“I’m looking forward to deepening Wellington’s investment exposure in healthcare and life sciences. Over the past 16 years, Wellington has made a positive contribution to dozens of companies across North America. I value the firm’s partnership approach and its industry leading product offering,” said Chapman. “Wellington has a reputation for identifying promising U.S. businesses and entrepreneurs. I’m honored to join the firm in a position where I can aid these businesses in the discovery and development of new technologies and the transformation of healthcare systems.”
Jeff received a B.S. in Microbiology and Molecular Genetics from the University of California, Los Angeles, and an MBA from the Wharton School at the University of Pennsylvania. He also spent two years as a doctoral candidate in Biomedical Sciences at the University of California, San Francisco.
In October 2015, Wellington Financial announced that the firm hit its ‘hard cap’ of $300 million of subscriptions from Canadian institutional investors and family offices for Wellington Financial Fund V. Since that date, the team has committed more than $100 million to 11 VC-backed companies in the U.S. and Canada.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment program with offices in Menlo Park, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada’s largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com.
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Wellington Financial
Kate Gundry, 617-797-5174
kate@pluckpr.com