American Capital Exits Velocity Financial

American Capital-backed Core Financial has sold Velocity Financial Group to company management and Parish Capital Advisors. Velocity Financial provides financing solutions to VC- and PE-backed companies. American Capital acquired its stake in the company in 2007 when it invested $125 million in the form of senior subordinated debt and preferred equity. Two years later, the company was combined with Core Business Credit and Oceana Media Finance to form Core Financial.