Atlanta, GA (PRWEB) January 12, 2011
The BIP Investment Team, managers of BIP Opportunities Fund, announces the sale of its interest in a pre fund investment, Vendormate Inc., to Primus Capital, a Cleveland based private equity firm. The sale generated a 6.6x gross cash-on-cash return in 3.5 years for the BIP team and its investors.
From the start, Vendormate presented an excellent investment opportunity, said Mark Buffington, partner at BIP Opportunities Fund. The management teams operating prowess, the strength of Vendormates products and the vast need for effective vendor management systems in the healthcare industry combined to make Vendormate one of the fastest-growing software companies in its industry.
“We are very pleased to have had the opportunity to work with the Vendormate management team over the last several years,” commented Shawn Welch, partner at BIP Opportunities Fund. “Their leadership has facilitated what many would consider to be a notable investment return under any economic conditions.”
About Vendormate, Inc.
Vendormate protects the health of hospital supply chains with a unique vendor credentialing and compliance monitoring solution. The program assures compliance with both internal policies and government mandates, including HIPAA and the Deficit Reduction Act. Registered vendors are screened and rated by custom criteria and continuously monitored for non-compliance. Integrated badges control access to facilities. Call 1-877-483-6368, or visit http://www.vendormate.com or vendorcompliance.wordpress.com.
About BIP Opportunities Fund
BIP Opportunities Fund is an Atlanta-based investment firm focused on providing capital and operational support to emerging, high-growth companies. We seek to invest between $ 2 million to $ 5 million in companies with revenues up to $ 15 million. Investments will generally be based within the Southeast but we remain opportunistic to other domestically based investment opportunities. Industry sectors covered include technology, healthcare, business services, franchising, and specialty finance. Please visit http://www.bipfund.com for more information on BIP Opportunities Fund.
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The BIP Investment Team Announces the Sale of its Interest in Vendormate Inc. Generating a 6.6x Cash-on-Cash Return to Investors
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