News
May 14 , 2007
PLYMOUTH VENTURE PARTNERS COMPLETES SEVENTH LIQUIDITY EVENT:
Continues to build upon strong performance
Ann Arbor, MI, May 14, 2007: Plymouth Venture Partners I LLC (“PVP-I”) announced its seventh liquidity via strategic sale of portfolio company IEI Financial Services. PVP-I made an investment of $800,000 in IEI Financial Services in Nov 2005. The exit was completed on May 4th, 2007 yielding an IRR of 37.5 %.
This is PVP-I’s seventh successful liquidity event with an aggregate annualized IRR of 37%. Of the seven exits, PVP-I portfolio has experienced one IPO & two acquisitions. Since commencement of investing in 2003, PVP has completed 21 investments with no realized losses.
"PVP is pleased with its consistent performance," said Ian Bund, Chairman of Plymouth Management Company. "We have focused on singles and doubles, but can see a home run every now and then. Our strategy has worked well thus far & I am looking forward to fuelling the growth of PVP to raise PVP-II. We have a proven model, a demonstrated track record and healthy deal flow in Michigan and Midwest”
Plymouth Ventures is led by Ian Bund, who has been an active principal in private company investing since 1969 and during 38 years in the business has experienced 33 IPOs and numerous strategic sales of companies. Through 12 venture capital funds in the US and Australia, Ian has participated in the building of over 400 companies.
About Plymouth Venture Partners
Based in Ann Arbor, PVP was formed in 2002 by Ian Bund and Jonathan Rye, Chairman of Greenfield Commercial Credit. PVP brings together experienced investors for the purpose of screening, reviewing and funding investment opportunities in private companies, primarily in Michigan and Great Lakes region. For more information, please visit www.plymouthvc.com
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