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Venture Capital
covingtoncapital.com

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Investments

18

Portfolio Exits

7

About Covington Capital

Covington Capital Corporation (CCC) is an entrepreneurial real estate development and investment company that focuses on complex, creatively financed projects across the United States. Covington's partners have over 80 years of combined experience and have developed or redeveloped over 20 million square feet of commercial and industrial property, including build-to-suit and spec warehouses, hotels, and master planned communities. CCC specializes in projects involving public-sector financing and/or participation and has an extensive track record of redeveloping and repositioning distressed property. CCC and its affiliate companies currently own over 9,000,000 SF of commercial/industrial space and are actively developing over 17,000 acres of land in the Western United States.

Covington Capital Headquarter Location

35 North Arroyo Parkway Suite 60

Pasadena, California, 91103,

United States

626.381.9430

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Latest Covington Capital News

Covington Venture Fund Inc. Announces Redemption By The Fund Of Class A Units Outstanding

Sep 11, 2020

Author: Sep 11, 2020 5:00 PM EDT TORONTO, Sept. 11, 2020 /CNW/ - Covington Venture Fund Inc. (the "Fund") announced today that it completed a Special Meeting of Shareholders on September 10, 2020 at which shareholders approved amendments to the articles of the Fund which will allow the redemption by the Fund of the Class A shares outstanding. The Fund is currently substantially all cash after completing the sale of the last venture investment. The amendment to the articles will allow the Fund to efficiently return the net proceeds to all remaining Class A shareholders. The redemption is expected to occur by way of cash for nominee accounts and in the form of CI Investments Money Market Fund units for all Client Name accounts. The Fund will suspend redemptions effective September 11 , 2020 and prepare to initiate the redemption by the Fund of all Class A units based on the net asset value per share of September 18, 2020. We anticipate that the savings from the reversing of accruals and forgiveness of certain fees owed to Covington Capital will result in an increase in the net asset value of the Fund greater than 5% prior to the Class A redemption. Following the redemption by the Fund of all the Class A units, the Fund will commence steps to cease to be a reporting issuer and proceed to end its corporate existence. About Covington Group of Funds Founded in 1995, Covington Capital Corporation ( www.covingtonfunds.com ) is one of Canada's most experienced venture capital fund managers. Covington currently manages approximately $125 million in venture capital assets on behalf of institutional and retail investors. Covington Capital Corporation is headquartered in Toronto, Ontario. SOURCE Covington Capital Corp.

Covington Capital Investments

18 Investments

Covington Capital has made 18 investments. Their latest investment was in BTI Systems as part of their Series D - II on December 12, 2013.

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Covington Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/31/2013

Series D - II

BTI Systems

$27M

Yes

3

6/12/2012

Series D

Embotics

$8.4M

No

1

2/10/2011

Series C

Embotics

No

3/4/2010

Series A

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$99M

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10

12/5/2008

Series B

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$99M

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0

Date

12/31/2013

6/12/2012

2/10/2011

3/4/2010

12/5/2008

Round

Series D - II

Series D

Series C

Series A

Series B

Company

BTI Systems

Embotics

Embotics

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Amount

$27M

$8.4M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

3

1

10

0

Covington Capital Portfolio Exits

7 Portfolio Exits

Covington Capital has 7 portfolio exits. Their latest portfolio exit was Embotics on December 03, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/3/2019

Acquired

$99M

1

4/1/2016

Acquired

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$99M

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10

1/26/2016

Acquired

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$99M

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10

8/14/2008

Acquired

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$99M

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10

12/12/2007

Acquired

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$99M

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0

Date

12/3/2019

4/1/2016

1/26/2016

8/14/2008

12/12/2007

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

0

Covington Capital Team

5 Team Members

Covington Capital has 5 team members, including current Founder, Chief Investment Officer, Gary Arakawa.

Name

Work History

Title

Status

Gary Arakawa

Founder, Chief Investment Officer

Current

Lisa M. Low

Chief Financial Officer

Current

Matt Hall

Senior Vice President

Current

William Jin

Senior Vice President

Current

Scott Clark

Managing Partner

Current

Name

Gary Arakawa

Lisa M. Low

Matt Hall

William Jin

Scott Clark

Work History

Title

Founder, Chief Investment Officer

Chief Financial Officer

Senior Vice President

Senior Vice President

Managing Partner

Status

Current

Current

Current

Current

Current

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