Ex-Drexel’s Spurge Heads Firm To Back Women-Run Companies

Business Woman

Lorraine Spurge, a former executive at Michael Milken’s junk-bond firm Drexel Burnham Lambert, will lead a venture backed by private-equity firm APCO Capital LLC to invest as much as $200m a year in companies that are owned or run by women.

Bloomberg reports that APCO, based in Salt Lake City, started APCO Capital Strategic Growth Alliance to advise and invest in mid-sized companies with female leadership, according to an e-mailed statement. The new venture will put about $30m to $40m into each investment and is targeting about five deals a year, Spurge said in a telephone interview.

'I felt there’s a real opportunity to put together capital with great women business leaders, and it seemed like the timing was perfect in light of all the discussion that’s out there', said Spurge, who runs investment firm Maple Stone Capital Advisors LLC. 'Sheryl Sandberg has really accelerated the discussion. I’ve spent the last year and a half doing research and I really think there’s a tremendous under-served population of women-led businesses out there'.

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Ex-Drexel’s Spurge Heads Firm to Back Women-Run Companies

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