Orix Ventures, the venture capital branch of financial services firm Orix USA, changed its name to Orix Growth Ventures on Tuesday to more accurately reflect its business.
The unit operates as a growth finance provider, supplying debt and equity funding to high-growth, venture-backed companies. It has supplied a total of $1.4bn to more than 125 companies since it was founded in 2001.
Jeff Bede, managing director of Orix Growth Capital, said: “Although Orix Growth Capital continues to invest in venture-backed companies, we wanted a name that better reflects the growth and late-stage nature of our platform.
“Our portfolio companies have revenue traction, with proven products, customer validation and invested equity support. We provide the patient growth capital with sizeable follow-on capacity to help them get to the next level.”