Straylight

PE/Buy-Out · Ann Arbor (United States)

PE/Buy-Out

Series A

Series B

AI

Cloud/SaaS

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About

Straylight is a venture capital and private equity firm specializes in acquisition financing, founder/angel liquidity, corporate carve-outs, early venture, mid venture, late venture, and growth stage companies. It provides growth capital to its investments. The firm primarily invests in technology, B2B businesses, service, manufacturing, health care, software, consumer products, tech-enabled services, life science and communications sectors. It seeks to make investments through short term, intermediate term, and longer-term loans. Within short term loans, the firm seeks to invest up to one year or less in the form of secured loans in the form of bridge or other interim facilities, and in companies with strong growth prospects, dealing with challenges, transitions, or other short-term issues. Within intermediate term, it seeks to invest for one year to three years in the form of equity or debt in consumer, and technology services and product companies with market validation in growth or change of control circumstances. Within longer term, the firm seeks to invest for three years to five years in the form of equity or debt, and in consumer, healthcare, and technology product, device and services companies that have high growth potential. It prefers to invest in United States with a focus on North American mid-continent with a focus on Great Lakes, Southeast Michigan, Northwest Ohio, Indiana, Illinois, Wisconsin, and Pennsylvania. It typically commits investments of $0.5 million to $25 million in each portfolio company with revenues of at least $1 million to $13 million. The firm provides debt investment value from $1 million to $6 million. The firm provides equity and mezzanine capital and co-invests in its transactions. It prefers to structure its investments in the form of preferred equity or subordinated debt. The firm seeks to take a board seat or board observer roles in its portfolio companies. It also syndicates investments with regional investors and limited partners. The firm prefers to exit its investments through full and partial acquisition, refinancing, recapitalization, or IPO within two to five years of initial investment. Straylight was founded in 2002 and is based in Ann Arbor, Michigan with additional offices in Detroit, Michigan.

Investment Criteria