Wintrust Commits $50 million to its Wintrust Ventures Capital to Support Continued Innovation
February 15 2022 - 5:02PM
Wintrust Financial Corporation (“Wintrust” or “the Company”)
(Nasdaq: WTFC) announced today that it has committed $50 million to
fund Wintrust Ventures corporate venture capital opportunities.
Wintrust Ventures will continue to seek out opportunities to invest
equity capital into businesses in search of Late Seed or Series A
funding.
Since its founding in 2015, Wintrust Ventures
has made 102 investments in 42 high-growth companies. Previous
investments include The Mom Project, Cohesion, Foxtrot Marketplace,
Monica + Andy and Interior Define. Given the success of those
investments and Wintrust’s mission to continue to support companies
in the communities it serves, Wintrust Ventures will continue to
deploy the capital through direct investments in companies,
leveraging its co-investment relationships with other venture
funds, angel groups and family offices.
Edward J. Wehmer, Founder and Chief Executive
Officer of Wintrust, commented, “Wintrust Ventures has been a
remarkably successful platform for Wintrust to invest in
high-performing small businesses in our communities. This
investment – alongside our long-term sponsorships of organizations
such as Chicago Innovation – represent our continued commitment to
the entrepreneurs and businesses who create the economic
opportunities that our towns and country will need in the years to
come.”
Bailey Moore, Senior Vice President, Wintrust
Ventures, stated, “This commitment of additional capital will allow
us to continue meeting the unique needs of early-stage companies.
We have had particular focus in sectors such as Enterprise SaaS,
Healthcare IT, Marketplace and Omni Channel Brands. Not only do we
provide equity capital, but we also offer guidance, networking
opportunities, knowledge, banking services, wealth management tools
to support innovation in Chicago and beyond. We truly view
ourselves as strategic partners to these businesses, offering the
support and resources they need to flourish, grow, and in many
cases, effect a successful exit event.”
For additional information on Wintrust Ventures,
click here.
About WintrustWintrust is a
financial holding company with assets of approximately $50 billion
whose common stock is traded on the NASDAQ Global Select
Market under the symbol WTFC. Built on the "HAVE IT ALL" model,
Wintrust offers sophisticated technology and resources of a large
bank while focusing on providing service-based community banking
to each and every customer. Wintrust operates fifteen community
bank subsidiaries, with over 170 banking locations located in the
greater Chicago and southern Wisconsin market areas. Additionally,
Wintrust operates various non-bank business units including
business units which provide commercial and life insurance premium
financing in the United States, a premium finance company operating
in Canada, a company providing short-term accounts receivable
financing and value-added out-sourced administrative services to
the temporary staffing services industry, a business unit engaging
primarily in the origination and purchase of residential mortgages
for sale into the secondary market throughout the United States,
and companies providing wealth management services and qualified
intermediary services for tax-deferred exchanges.
Forward-Looking InformationThis
press release contains forward-looking statements within the
meaning of the federal securities laws. Investors are cautioned
that such statements are predictions and actual events or results
may differ materially. Wintrust's expected financial results or
other plans are subject to a number of risks and uncertainties. For
a discussion of such risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" and the
forward-looking statement disclosure contained in Wintrust's most
recent Annual Report on Form 10-K and in any of the Company’s
subsequent SEC filings. Forward-looking statements speak only as of
the date made and Wintrust undertakes no duty to update the
information.
FOR MORE INFORMATION CONTACT: Edward J. Wehmer,
Founder & Chief Executive Officer David A. Dykstra, Vice
Chairman & Chief Operating Officer (847) 939-9000 Web site
address: www.wintrust.com
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