Spring Capital Closes New Investment in Ignitist
SPRING CAPITAL PARTNERS IV, L.P.
is pleased to announce the closing of an investment in
$6.5 Million of Subordinated Debt with Warrants
Spring Capital Partners IV, L.P. is a Small Business Investment Company as licensed by the United States Small Business Administration in accordance with the Small Business Investment Act of 1958, as amended.
Spring Capital Partners IV, L.P. (www.springcap.com) invested $6.5 million of growth capital in Ignitist, Inc. (“Ignitist” or “the Company”) in the form of subordinated debt with warrants.
Based in Harleysville, PA, Ignitist is a direct-to-consumer insurance agency specializing in the marketing, sales, and distribution of health insurance products. The Company was founded in 2019 by Kevin McKenna and specializes in the Dual-Eligible Special Needs Plans market with plans to expand into additional ancillary markets.
About Spring Capital Partners
Spring Capital Partners was founded in 1999 to provide mezzanine capital to growing small and medium sized businesses. The firm has managed over $600 million of capital and is currently investing out of its fourth fund, Spring Capital Partners IV, a $250 million SBIC. Investments are made in the form of subordinated debt and minority equity typically in the range of $2 million to $20 million per investment. In addition to investing in change of control/buyout transactions with committed private equity funds and independent sponsors, Spring Capital also provides capital to privately held businesses to support acquisitions, growth, and minority recapitalizations.