According to a written statement, MicroEdge, LLC, a New York City-based provider of solutions to the giving community worldwide, received a minority investment of undisclosed amount.
Backers included Bregal Sagemount as well as existing investors Vista Equity Partners. In conjunction with the transaction, Daniel Kim, a Partner and Co-founder of Bregal Sagemount, and Adam Fuller, a Vice President and Co-founder of Bregal Sagemount, will join the MicroEdge Board. Following the close of the deal, the MicroEdge management team, led by CEO Preston McKenzie, will retain majority ownership.
The company intends to use the proceeds to expand their products and services.
Established in 1985, MicroEdge provides foundations, corporations, government agencies, donors, advisors and financial institutions with grant making, fund management, donor management, and corporate social responsibility software solutions and help them raise, invest, manage and award charitable currency worldwide.
The company operates regional offices throughout the U.S. and supports thousands of clients worldwide.
FinSMEs
09/01/2013