A Boston-based technology-focused private equity investment firm made a $10 million equity investment in Pennsylvania-based mortgage quality management and analytics provider
LoanLogics also received another $1.2 million funding from existing investors in addition to Volition Capital’s $10 million investment. Volition is the first large institutional investor to buy a stake in the company, Brian K. Fitzpatrick, president and CEO of LoanLogics, says.
Founding management and original investors continue to control a majority share of the company, Fitzpatrick told this publication. He declined to state the exact percentage Volition purchased. Volition partner Roger Hurwitz has joined LoanLogics’ board.
“They understand the need for data transparency, particularly around all the changing regulatory requirements following the crisis,” Fitzpatrick says of Volition, which confirmed that this was a catalyst for the investment in a press statement.
