A North Carolina wealth management company filed to raise $14.2 million in debt financing, according to a Securities and Exchange Commission filing.
VisionQuest Capital LLC filed the Form D on Oct. 5. The total offering was $14.2, and so far the company has sold $11.2 million of debt to 39 investors. The remaining amount to be sold is $3 million.
The date of the first sale was July 8, 2010, and the minimum investment was $20,000, the company said.
The Raleigh-based combination wealth management and boutique acquisition company is now in its 11th year. The company had 12 employees as of last year.
VisionQuest purchased two financial firms with combined assets of about $120 million last year.
The two firms were Charlotte, North Carolina-based advisory practice, Tippet Group, managed by Harold Soutier, Sr. and Harold Soutier, Jr., and Richmond, Virginia-based Deckert Financial Management, managed by president and founder Kevin Deckert.
Soutier assets are worth $50 million, and Deckert assets are worth about $70 million, VisionQuest said.
VisionQuest was founded by Stephen Peters and raised a fund exclusively targeting Facebook stock in 2012.
The private equity firm then acquired used car dealerJames Taylor Autopark and a related finance company in 2013.
Companies similar to VisionQuest, which rely on a Reg D exemption, aren’t required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
