Entire Guggenheim team moves to Alara Capital, including managing directors.
AUSTIN, TX, Alara Capital, formerly Guggenheim Venture Partners, which was an affiliate joint venture of Guggenheim Partners, LLC, has spun into a new private equity and venture capital firm unaffiliated with Guggenheim.
The entire GVP team has moved to Alara Capital including managing directors Mike Burns and Eric Rothfus, who will lead Alara's operations.
"We are grateful to Guggenheim for helping us start our first fund and for the firm's help with the spin out and launch of new funds as Alara," said Rothfus.
"Guggenheim has enjoyed its association with Mike and his team and we look forward to Alara Capital's future success and expansion as a leading venture firm," said Guggenheim Vice Chairman Dominic Curcio.
Alara will continue to operate from offices in King of Prussia, Pa., and Austin, Texas, and will manage Guggenheim Technology Ventures I, a fund begun in 2008 with a total today of $65 million in capital and stakes in nine technology companies.
Alara will continue its strategy of investing in undercapitalized technology companies with practices in distressed venture capital, early stage ventures and technology spin-outs. Alara will expand that focus into growth equity and active value investing with future private equity funds.
Future funds will be set up independently from Guggenheim, one of the largest limited partners in Alara's first fund established under Guggenheim Partners.
Since its start in October 2008, Guggenheim Technology Ventures I has invested in numerous companies including Ciclon Semiconductor Device Corporation, which was acquired by Texas Instruments in 2009.
About Alara Capital
Alara Capital is a technology investment firm that focuses on undercapitalized technology companies, with practices in distressed venture capital, early stage ventures, technology spin-outs, growth equity and activist investing in small capitalization public technology companies. For more information, please visit www.alaracap.com
About Guggenheim Partners
Guggenheim Partners is a privately held global financial services firm with more than $100 billion in assets under supervision, including the management of assets in excess of $80 billion. The Firm provides investment management, investment banking and capital markets services as well as insurance and investment advisory solutions for institutions, corporations, governments and agencies, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients from 22 offices in nine countries. For more information, please visit www.guggenheimpartners.com.
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