Century City private investment lender Breakaway Capital funded a total of $4 million to M-Theory Financial Group to refinance debt, and provide capital for growth of its private-cloud data hosting services.
Los Angeles-based M-Theory is an information technology consulting business that provides computer services to 1,000 customers in 35 states in a broad array of industries, including finance, IT, health care, hospitality, business services and telecommunications.
Private cloud hosting offers more security than public cloud hosting as is it is custom-built for single-tenants, said David Giroux, an associate with Breakaway. M-Theory generates $15 million-$20 million annually, Giroux said.
Breakaway Capital is a private investment firm in Los Angeles with roughly $150 million of committed capital under management.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.