Thursday, January 31, 2013

GRP Partners Gets Exit At mFoundry

Los Angeles-based venture capital investor GRP Partners has scored an exit at one of its firms this morning, mobile banking and payment provider mFoundry. According to mobile financial services firm FIS, it is paying approximately $120 million in cash to acquire the remaining 78 percent ownership interest in mFoundry it did not already own. mFoundry has been founded in 2004, and was venture backed by Apax Partners, Bank of America, GRP Partners, Ignition Partners, Intel Capital, MasterCard, Motorola, NCR, and Paypal, in addition to FIS. Brian McLoughlin of GRP was on mFoundry's board of directors.

---