Eastward Capital raises $36.6m

The Massachusetts-based venture debt specialist is more than a third of the way to its $100m target. 

Eastward Capital Partners has raised at least $36.6 million towards a stated target of $100 million for its sixth capital partners fund, according to a document filed with the US Securities and Exchange Commission Monday.

The West Newton, Massachusetts-based venture debt firm specialises in providing financing to companies in the information technology, communications, alternative energy/clean technology and healthcare sectors, according to its website. Eastward has an eastern US geographic focus.

The firm offers a variety of products, including lease financing, senior debt, subordinated debt and convertible debt, according to its website.

Chief financial officer Michael Dale did not respond to a request for comment at press time.

Eastward has invested more than $400 million since its inception. The firm’s portfolio includes investments in fashion website Gilt Groupe, LED producer Luminous and IT support company PlumChoice, among others.