We are thrilled to be working with Southridge as we grow our core business in the China market. The Southridge management team fully understands our business philosophy, and the growth potential of Chinese companies in the global economy
New York, NY (PRWEB) February 18, 2010
Southridge LLC ("Southridge"), an investment firm providing capital to publicly listed companies, is pleased to announce that its affiliated fund has closed a private equity agreement for up to $20 million in equity financing for Covenant Group of China, Inc. ("Covenant").
"Southridge is very pleased to provide equity capital financing for this market leader in seeking investment opportunities with companies in the Peoples Republic of China (China)," said Stephen Hicks, founding principal of Southridge LLC.
Covenant's core strategy is to invest in growth companies headquartered in China utilizing their substantial business experience in both the US and China as well as their experience in the US capital markets. Covenant provides these companies with support, including administrative, legal, accounting and marketing assistance, along with an infusion of capital. The long term goal is to prepare these entities to become leaders in their market sectors and possibly public companies in their own right.
"We are thrilled to be working with Southridge as we grow our core business in the China market. The Southridge management team fully understands our business philosophy, and the growth potential of Chinese companies in the global economy," said Van Gothner, a member of Covenant's Board of Directors.
Southridge seeks investments in emerging growth areas, domestically and in international markets. Southridge has successfully participated in providing over $1.7 billion in capital to companies in the United States, China, the United Kingdom and Australia and well as others.
About Southridge LLC
Southridge LLC is a diversified financial holding company offering a wide range of products and services, including Fund Management, Investment Banking, Merchant Banking, Wealth Management and Business Solutions. For more information please visit http://www.southridgellc.com.