Deal Details
Reservoir Completes Special Purpose Vehicle for ClearCaptions
Summary
Reservoir Capital Group, L.L.C. (“Reservoir”) closed a single asset special purpose vehicle (“SPV”) for ClearCaptions, LLC (“ClearCaptions”). Baird conducted an efficient and competitive process, resulting in a successful majority investment from a leading special situations secondaries manager.
Baird served as financial advisor to Reservoir and ClearCaptions on this transaction.
About
Reservoir was founded in 1998 based upon the belief that patient capital and a flexible investment mandate are competitive advantages in the pursuit of superior, long-term risk-adjusted returns. Reservoir's primary investment objective is to identify or create investment opportunities with asymmetric risk/reward profiles - generally offering enhanced downside protection and meaningful upside optionality. These investment opportunities are frequently found in out-of-favor areas experiencing fundamental change and/or scarcity of capital. Reservoir is headquartered in New York, New York.Established in 2011, ClearCaptions is a Federal Communications Commission (FCC)-certified Internet Protocol Captioned Telephone Service Provider. The service provides near real-time transcriptions of spoken phone conversations into text captions, made visible to the user during an active call. Available on our specially designed home phones and via an app on mobile devices – iPhone® and iPad® – the service, which is funded through a federally managed program, is provided at no charge to qualified registered consumers through Title IV of the Americans with Disabilities Act (ADA). ClearCaptions is headquartered in Roseville, California.
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- Date
- March 2024
- Company
- ClearCaptions, LLC
- Transaction
- GP Solutions
- Sectors
- Technology & Services
- Verticals
-
Software
- Target Geography
- North America
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