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Source Logistics

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Source Logistics was founded in 1999 to provide third-party logistics (3PL) solutions for the storage and freight handling needs of Mexican and Latin American consumer products manufacturers. The Company utilizes its network of warehouses and a range of value-added services to permit its customers to grow revenues throughout the U.S.

EndoCenter Partners

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Founded in 1997, EndoCenter Partners partners with physicians to design, develop, and manage state-of-the-art ambulatory surgical centers located principally in California’s Central Valley, Central Coast, and San Francisco Bay area. These centers primarily focus on the Endoscopy and Ophthalmology specialties.

Administrative Systems, Inc.

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Founded in 1972, Administrative Systems, Inc. is a leading provider of benefits disbursement software and services to large financial institutions and employee benefit plans. The Company's innovative solutions help streamline benefit disbursements and tax reporting to aid clients in reducing operating costs.

Portfolio Companies

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Submitting Proposals

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We encourage companies that meet our Investment Criteria to submit a financing proposal. We will need the following information to expedite the initial review:

Investment Structure

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The Central Valley Fund's investments will be made under the following general terms and conditions:

  • Investment size is typically $1M-$5M per transaction with larger commitments possible through co-investment with other funds.
  • Preference for subordinated debt, but will consider preferred equity where appropriate.
  • Repayment is typically a 5-year term.
  • Board seat or observation rights. We do not seek control nor take an active management role, but act as financial partners and strategic advisors.
  • A subordinated lien on all assets and in most cases a stock pledge.

Investment Criteria

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Central Valley Fund ("CVF") seeks to invest in:

  • Later-stage companies experiencing a financing event and seeking expansion capital, acquisition capital, or capital to refinance the business.
  • Companies with principal operations in California, especially within our targeted geographic region—the California Central Valley. CVF will also selectively consider transactions from companies outside the region.
  • Companies in business at least 5 years with at least 3 years prior audited financial statements.
  • Companies with at least $5M in sales and a strong competitive position.
  • Companies with a strong management team in place or previously identified as part of an acquisition. Meaningful management ownership stakes and appropriate incentives are important.

The Investment Process

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Bill Henderson

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Special Advisor

Bill Henderson has over 30 years of commercial banking experience, with a strong focus on middle market lending/credit in the California Central Valley. After 3 years at Union Bank, he became a commercial loan officer at Wells Fargo Bank and advanced to Executive Vice President and Division Head in the Central Valley. Headquartered in Fresno, he was responsible for all regional commercial banking offices, covering territory from Bakersfield to the Oregon border, Sonoma, Napa and Imperial counties. In 1997, Mr. Henderson assumed the additional territories of Arizona, Nevada and Utah.

Nick Rich

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Associate
Central Valley Fund picture

Nick Rich has over six years of experience in the area of investment research and analysis. Prior to joining the Central Valley Fund, Mr. Rich was a sell-side fixed income analyst for a small brokerage firm, Morgan Peabody, based in Los Angeles.

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