DALLAS – July 25, 2006 - Texas Women Ventures Fund (TWVF), along with CapSource Fund and CapSource 2000 Fund, closed on a $2.3 million sub-debt financing in Karlee, Inc. in late June. The $1 million provided by Texas Women Ventures Fund is the fund’s first investment. TWVF led the transaction and sourced the co-investor funds to participate in this round.
"Our first investment confirms the mission of TWVF to invest in vibrant women-led businesses in Texas and the Southwest which can benefit from both growth capital and mentoring," stated Whitney Johns Martin, managing member of TWVF. "KARLEE is an outstanding first portfolio company for us; it demonstrates that TWVF can source attractive investment opportunities with large revenues and will encourage other women-led businesses to consider TWVF as a source of funding for their businesses."
"KARLEE has experienced significant business expansion during the past year including opportunities to support emerging markets," said Jo Ann Brumit, chief executive officer and majority owner. "The growth capital and counsel provided by TWVF was a key element in our strategy to meet customer expectations and take advantage of these growth opportunities."
KARLEE is a woman-owned provider of customized integrated manufacturing services for diverse industry sectors, including medical, semi-conductor, telecommunications, nuclear and defense. Based in Garland, Texas, KARLEE employs 335 and, with the new capital infusion by TWVF and it co-investor, expects to grow to over 500 employees. KARLEE’S services include sheet metal fabrication, precision machining, cabling, electromechanical assembly and process coating. KARLEE has received many awards for its excellent performance, including 2000 Malcolm Baldridge National Quality Award, Texas Business of the Year in 2000, 7th Largest Woman-Owned Business in DFW in 2004, and Entrepreneur of the Year in 1991. (www.karlee.com)
Texas Women Ventures Fund, L.P. was created with the mission to invest its capital in women-led companies located in Texas and the Southwest. In addition to prominent institutional investors, the fund has over 40 women entrepreneurs and executives as investors and mentors. One of the fund’s distinctive products is its offering of Dequity©, which is debt that performs much like equity and allows the business owner to maintain control of her company while obtaining growth capital. The fund is actively seeking other opportunities to provide growth capital to women-led businesses in Texas and the Southwest.
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