Press Release (November 24, 2020)
PITTSFORD, NY – General Partners Clint Campbell and Jeffery Holmes are proud to announce the launch of their latest private equity fund, Cephas Capital Partners III, LP. The fund was established with just under $13 million of private capital with 100% of our Community Bank Limited Partners from “Cephas II”, agreeing to also invest in “Cephas III”.
“Cephas III” has also successfully completed the application process and has been awarded a license to operate as a Small Business Investment Company (“SBIC”). Started in 1958, the SBIC Program is a private-public partnership administered by the SBA’s Office of Investment & Innovation located in Washington, D.C. and was established to provide a source of capital for growth stage companies. Both “Cephas I” and “Cephas II” have operated as licensed SBIC’s and have invested over $100 million in Upstate NY businesses since 1997. “Cephas III” joins approximately 300 other SBIC’s across the country, and one of the primary benefits of the SBIC license is the access it provides to relatively low-cost additional leverage to augment its’ private capital.
Both Campbell and Holmes believe that the new fund will be ideally positioned to assist business owners presented with a variety of funding needs including buy-outs of established Upstate NY companies, keeping the majority equity stake in the hands of local operating management, or recapitalizations related to recovery from COVID related impacts.