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Asset/Investment Management
sciensam.com

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Investments

12

Portfolio Exits

7

Funds

8

Partners & Customers

3

About Sciens Capital Management

Sciens Capital Management is an independent alternative investment management firm focused on providing bespoke and integrated investment solutions to institutional and private clients globally.

Sciens Capital Management Headquarter Location

667 Madison Avenue

New York, New York, 10065,

United States

212-471-6100

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Latest Sciens Capital Management News

Gunmaker Colt submits plan backed by Sciens, noteholders - The Deal Pipeline (SAMPLE CONTENT: NEED AN ID?

Dec 9, 2015

Gunmaker Colt submits plan backed by Sciens, noteholders by Kelsey Butler   |  Published October 12, 2015 at 3:31 PM Gunmaker Colt Defense LLC has filed a reorganization plan backed by its majority owner, senior lenders and noteholders owed $250 million. The West Hartford, Conn., debtor submitted its disclosure statement and the related plan on Friday, Oct. 9. In a Friday statement, Colt said holders of more than 60% of $250 million in outstanding 8.75% senior notes due 2017 and majority owner Sciens Capital Management Group have agreed to provide the debtor with $50 million in new capital to support the plan. "We are encouraged by the progress we have made toward a successful exit from bankruptcy and are confident that our filed plan of reorganization strengthens the company's balance sheet, provides adequate capital and liquidity to execute our strategic plan and preserves continuity in Colt's business operations," CEO Dennis Veilleux said in the Friday statement. Under the plan, administrative and priority tax claims would be paid in full. Colt would repay $41.67 million in senior debtor-in-possession financing with the proceeds of a $40 million senior exit facility. Colt also would enter into a term loan exit facility, which would repay prepetition term loan claims as well as a $33.33 million DIP loan. The company would raise up to $50 million in new capital through an offering of new Class A units in the reorganized debtor as well as a third-lien exit loan. Sciens and certain noteholders have agreed to participate in the offering, which could be increased by up to an additional $5 million. Court papers show Sciens would subscribe to $15 million of the offering and noteholder Fidelity Newport Holdings LLC an additional $15 million. Noteholders Bowery Investment Management LLC, Phoenix Investment Adviser LLC and MatlinPatterson Global Advisers LLC have agreed to backstop the remaining $20 million. The third-lien exit facility would be priced at 8% per annum, payable in kind, and mature in five years. Colt said it would file more details about all the exit financing in a plan supplement. Holders of other secured claims under the plan would have their claims reinstated or be paid in full in cash. Senior noteholders owed $250 million would receive a pro rata share of new Class B shares in the reorganized debtor. General unsecured creditors would receive a pro rata share of a note, subordinate to the exit facilities, for an unspecified recovery. Holders of qualified unsecured trade claims--trade creditors that would continue to do business with Colt and that met certain other requirements--would be paid in full in cash. Intercompany claims would be reinstated in full or in part or canceled. All equity interests in debtor subsidiaries would be reinstated or unaffected by the plan. All equity interests in the parent company would be canceled. Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware in Wilmington had not set a hearing on the disclosure statement as of Monday afternoon. Colt and nine affiliates filed for bankruptcy on June 14 along with nine affiliates, including lead debtor Colt Holding Co. LLC. According to a June 15 declaration from chief restructuring officer Keith Maib of Mackinac Partners LLC, liquidity issues caused the debtor's filing. "The debtors' current liquidity issues are the result of business trends impacting our recent historical, current and forecasted revenues and cash flows," Maib said in the declaration. "These trends include a decline in modern sporting rifle sales from 2013 peak levels as well as declines in aggregate handgun demand, and delays in anticipated timing of U.S. government sales, which includes foreign military sales through the U.S. government and certain international sales. These trends are expected to continue to put pressure on our liquidity for the foreseeable future. " Colt designs, develops and manufactures firearms. The more than 175-year-old company supplies civilian, military and law enforcement customers with products. The company's founder, Samuel Colt, patented the first successful revolving cylinder firearm in 1836. On March 18, 1992, Colt Manufacturing Co., Colt Holding's principal operating subsidiary, filed a Chapter 11 petition in Connecticut. That filing was due to excessive debt and a loss of important military and police orders. In 1994, an investment from financial group Zilkha & Co. allowed the company to confirm a plan and exit bankruptcy. Colt listed $5.03 million in assets and $384.84 million in liabilities in court papers. The company has a $35 million senior term loan from lenders led by administrative agent Cortland Capital Market Services LLC. Marblegate Special Opportunities Master Fund LP and P Marblegate Ltd. were also among the lenders, but the disclosure statement said certain noteholders had acquired the interests in the senior term loan and the senior DIP. The firearms maker also has a $72.6 million term loan from Morgan Stanley Senior Funding Inc. Wilmington Savings Fund Society FSB is the administrative agent on the term loan. Debtor counsel John J. Rapisardi at O'Melveny & Myers LLP could not be reached for comment Monday. Peter Friedman, Diana M. Perez and Joseph Zujkowski at O'Melveny and Mark D. Collins and Jason M. Madron at Richards, Layton & Finger PA are also debtor counsel. Perella Weinberg Partners LP is Colt's financial adviser. Mackinack Partners is its restructuring adviser. Robert J. Stark, Andrew M. Carty and James W. Stoll of Brown Rudnick LLP and William P. Bowden and Ricardo Palacio of Ashby & Geddes PA are legal counsel to consenting noteholders. GLC Advisors & Co. LLC is financial adviser for the noteholders. Willkie Farr & Gallagher LLP represents Morgan Stanley. Kilpatrick Townsend & Stockton LLP and Klehr Harrison Harvey Branzburg LLP are counsel to the official committee of unsecured creditors, which comprises the Pension Benefit Guaranty Corp., Stephen Nyhan & Jeana Walker-Nyhan, the United Autoworkers and Wilmington Trust NA. FTI Consulting Inc. (FCN) is financial adviser to the committee. Jay M. Goffman and Mark A. McDermott of Skadden, Arps, Slate, Meagher & Flom LLP represent Sciens. Share: Tags: Colt Defense bankruptcy | Colt Defense LLC | Dennis Veilleux | DIP loan | gunmaker | Sciens Capital Management Free preview

Sciens Capital Management Investments

12 Investments

Sciens Capital Management has made 12 investments. Their latest investment was in Colt's Defense as part of their Debt on October 10, 2015.

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Sciens Capital Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/13/2015

Debt

Colt's Defense

$50M

No

1

9/18/2009

Unattributed VC

Zonare Medical Systems

$12.5M

Yes

1/2/2002

Private Equity

Colt's Defense

Yes

12/8/2000

Unattributed VC - II

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$99M

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0

11/10/2000

Series B

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$99M

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0

Date

10/13/2015

9/18/2009

1/2/2002

12/8/2000

11/10/2000

Round

Debt

Unattributed VC

Private Equity

Unattributed VC - II

Series B

Company

Colt's Defense

Zonare Medical Systems

Colt's Defense

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Amount

$50M

$12.5M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

0

0

Sciens Capital Management Portfolio Exits

7 Portfolio Exits

Sciens Capital Management has 7 portfolio exits. Their latest portfolio exit was Colt's Defense on February 12, 2021.

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

2/12/2021

Acquired

$99M

6

10/16/2018

Acquired

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10

7/22/2013

Acquired

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$99M

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10

7/8/2003

Acquired

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$99M

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0

10/16/2002

Acquired

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0

Date

2/12/2021

10/16/2018

7/22/2013

7/8/2003

10/16/2002

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

6

10

10

0

0

Sciens Capital Management Fund History

8 Fund Histories

Sciens Capital Management has 8 funds, including Sciens Real Assets Offshore Fund SPC - 2019 Segregated Portfolio.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/13/2020

Sciens Real Assets Offshore Fund SPC - 2019 Segregated Portfolio

1

2/13/2020

Sciens Aviation Holdings IV

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$99M

10

2/12/2020

Sciens Water Opportunities Domestic Fund

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$99M

10

2/12/2020

Sciens Water Opportunities Cayman Fund

10

1/12/2017

CD Partners LP

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$99M

10

Closing Date

2/13/2020

2/13/2020

2/12/2020

2/12/2020

1/12/2017

Fund

Sciens Real Assets Offshore Fund SPC - 2019 Segregated Portfolio

Sciens Aviation Holdings IV

Sciens Water Opportunities Domestic Fund

Sciens Water Opportunities Cayman Fund

CD Partners LP

Fund Type

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Status

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Amount

$99M

$99M

$99M

Sources

1

10

10

10

10

Sciens Capital Management Partners & Customers

3 Partners and customers

Sciens Capital Management has 3 strategic partners and customers. Sciens Capital Management recently partnered with Kentik Technologies on December 12, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

12/16/2021

Partner

United States

Channel partner spotlight: Sciens

Channel partner spotlight : Sciens .

1

3/4/2013

Vendor

United States

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10

Vendor

United States

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10

Date

12/16/2021

3/4/2013

Type

Partner

Vendor

Vendor

Business Partner

Country

United States

United States

United States

News Snippet

Channel partner spotlight: Sciens

Channel partner spotlight : Sciens .

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Sources

1

10

10

Sciens Capital Management Team

2 Team Members

Sciens Capital Management has 2 team members, including current Chief Executive Officer, Ioannis P Rigas.

Name

Work History

Title

Status

Ioannis P Rigas

Zilkha Venture Partners

Chief Executive Officer

Current

Robert J. Delany

FleetBoston Financial, Meridian Bank, J.P. Morgan Chase & Co., and Ernst & Young

Chief Financial Officer, Chief Operating Officer

Former

Name

Ioannis P Rigas

Robert J. Delany

Work History

Zilkha Venture Partners

FleetBoston Financial, Meridian Bank, J.P. Morgan Chase & Co., and Ernst & Young

Title

Chief Executive Officer

Chief Financial Officer, Chief Operating Officer

Status

Current

Former

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