Fox Ridge Capital lands $75M credit facility, its third since launch
What's the deal? Fox Ridge CapitalDealroom has a profile for this one. Try Dealroom →, a hybrid commercial lender, has closed a $75 million revolving credit facility with DZ BankDealroom has a profile for this one. Try Dealroom →. It is the company's third such facility, bringing its total issuances to $240 million since it was founded earlier this year.
Why now? The facility is meant to fund a surge in originations as demand for Fox Ridge Capital's financing grows. That growth is also driving the company to recruit sales and operations staff.
What's the endgame? Fox Ridge Capital is building toward nationwide expansion. DZ Bank framed the deal as support for "the company's next chapter of nationwide growth," according to Alexander Ploch, executive director at the bank.
What are they saying? "We secured this facility through a collaborative partnership with DZ BANK, reflecting their confidence in our proven operating performance and in our leadership team," said Dawn D. Gillette, chief financial officer of Fox Ridge Capital. She added that closing three facilities within the company's first months reinforces the strength of its business model.
The signal: At $75 million, the raise sits in the top 10% of debt rounds by size — a notable marker for a lender only months old. Stacking three facilities so quickly points to strong appetite for the specialty finance model behind Tom Depping's equipment finance ventures.
Read more: abfjournal.com
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