L Squared Capital Partners Invested $36 Million in SSD Firm Virtium

Virtium Technology, Inc., a solutions-driven provider of industrial memory and embedded SSD storage products, has received a growth investment from L Squared Capital Partners.

The investment is intended to support Virtium’s continued growth and solidify its leadership in providing memory and storage solutions to the global market.

“This investment, from a highly experienced investor in the industrial technology sector, will be used to enhance Virtium’s product portfolio and strengthen our application engineering and SSD firmware development teams,” said Phu Hoang, CEO and co-founder, Virtium. “L Squared’s partners are highly regarded for their sound investment strategies and proven approach to value creation. Their approach aligns perfectly with Virtium’s performanceoriented culture.“

L Squared’s growth investment comes on the heels of the expansion of Virtium’s multi-faceted product portfolio and its global sales channel.

Virtium recently announced an updated family of its DDR4 Mini-RDIMM and UDIMM memory modules that use 20% less power than DDR3 products. In addition, it released a family of PCIe-based SSDs featuring small footprints and the industry’s lowest power consumption that make them ideal for space- and air-restricted embedded/industrial applications.

Founded in 2014 and headquartered in Newport Beach, CA, USA, L Squared Capital Partners is a family-office-backed investment firm focusing on long-term investments in leading growth companies operating in targeted sectors: technology-enabled services, industrial technology, and education. L Squared’s principals have over 50 years of combined experience investing in growing private companies.

Here is another press release published at the same time on the subject:

Monroe Capital Provides $36 Million Financing to Virtium
For acquisition by L Squared Capital Partner
 
Monroe Capital LLC acted as sole lead arranger and administrative agent on the funding of a $36 million unitranche credit facility to support the acquisition of Virtium Technology, Inc. by private equity sponsor, L Squared Capital Partners.

Founded in 1997 and based in Rancho Santa Margarita, CA, Virtium is a provider of customized, ruggedized, and highly engineered industrial memory and embedded solid state drive products to the industrial market. In recent years, the company has experienced growth as a result of increasing demand for highly customized memory and storage products.