Stages:

• Expansion
• Middle Market

 

Industries:

Information Technology

 

Description:

Cephas Capital was founded in July of 1997 and was approved for a license to operate as a Small Business Investment Company (SBIC) in March of 1998. Cephas was organized with $10 million of private capital contributed by six Upstate NY community banks and the general partners. The SBIC license also provides Cephas with access to up to another $30 million of funding from the SBA, generating a total capital pool of $40 million. Since 1997 Cephas has been seeking opportunities to help owners of small and medium sized privately held companies fund rapid growth, recapitalize their businesses or provide financing for management-led ownership changes. To date, the partnership has invested more than $100 million in 60 deserving small businesses located primarily in Upstate New York. The businesses funded by Cephas employ more than 6,000 people and contribute more than $1 billion annually to the economic output of the region. The firm announced the recent formation of Cephas Capital Partners II, LP and the approval by SBA of a new license to operate as a Small Business Investment Company. Cephas II was the first licensee approved under SBA's new 'fast track' approval process. Cephas II is expected to build on the successful foundation established by the existing Cephas, and will continue to focus on making subordinated debt investments ranging between $500,000 and $4.5 million in the Upstate NY region. The investor group is comprised of returning limited partners Canandaigua National Bank, Tompkins Trust Company, and Five Star Bank, along with new limited partners NBT Bancorp based in Norwich, NY and Arrow Financial headquarted in Glens Falls, NY. John Mooney continues to participate as a limited partner.