Huntington Capital Discloses Four Deals (So Far) From Its Second Fund

2/12/09Follow @bvbigelow

Huntington Capital, San Diego’s boutique private equity and venture lending firm, says it has made four investments so far from Huntington Capital Fund II, after raising $78 million in capital for the second fund it formed last May.

Partner Tim Bubnack told me in October the privately-held firm was seeing a lot of prospects, as companies sought alternative sources of capital amid the U.S. credit crisis. As a newcomer that specializes in venture lending and equity financing, Bubnack said Huntington had no exposure to subprime home loans or troubled financial instruments.

Despite the recession, Bubnack says Huntington is still arranging financing for private companies with strong management teams, increasing sales growth and industry-leading products or services. Huntington did not disclose the size of its deals, but Bubnack told me in October his firm looks for small-to-mid-size companies that need less than $6 million. All four investments from Huntington II have been in Southern California companies, including two in San Diego:

— Anakam, an Internet security firm that was founded in San Diego to combat online fraud through innovative, software-based authentication and identity management technologies.

— DR Technologies, a San Diego-based employee-owned aerospace and defense engineering company that uses advanced composites to design and make structural components and subsystems for NASA, the Department of Defense, and major aerospace companies.

— LifeModeler, a San Clemente, CA-based software developer that enables orthopedic surgeons to use computer-based modeling to help guide joint replacement surgeries.

— Environment Furniture, an environmentally friendly Los Angeles-based business that uses reclaimed hardwoods and lumber from sustainable forests to make “eco-chic” furniture.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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