Plymouth Venture Partners Completes Three Exits
Ann Arbor-based Plymouth Venture Partners I L.P. Tuesday announced the completion of three portfolio company exits.
The announcement came from managing partner Mark Horne at the firm's annual meeting in Ann Arbor.
"These exits bring the total exits since inception to 15, taking us well into the completion of this highly successful fund," Horne said.
Two of the exits are to strategic buyers. The third, Toledo's regional telephone company, AmericanBroadband and Telecommunications, resulted from a company buyback from its strong cash flow.
Terms of the transactions were not made public.
Plymouth Management Co. manages two venture capital partnerships: Plymouth Venture Partners I and Plymouth Venture Partners II. Plymouth Venture Partners I made a total of 29 investments from 2003-2008 and is fully invested. Plymouth Venture Partners II is completing its second close this month, and has begun making investments.
The firm's focus is on financing the next stage of growth of Michigan, Ohio and other Great Lakes area companies.
The firm's other partners are chairman Ian Bund and senior vice presidents Jeff Barry and Bob Savage Jr.
More at www.plymouthvc.com.
