Benjamin Wu has joined ORIX Corp. USA as managing director and head of the East Coast for its growth capital business.
It is a new position, a spokeswoman confirmed in an email.
Mr. Wu is based in New York and reports to Jeff Bede, head of growth capital, said a news release Wednesday.
Mr. Wu will work closely with both Mr. Bede and Bill Bishop, managing director-growth capital, to "drive investments and the strategic development" of the firm's growth capital business on the East Coast," the news release said.
Mr. Wu was most recently in charge of Brex’s venture debt lending arm, Brex Asset Management, a spokeswoman for the financial technology firm said in an email. Information about a replacement wasn’t immediately available.
ORIX USA's growth capital business provides "customized and flexible debt and equity solutions for leading growth-stage companies with a current focus on the software and health-care sectors," the release said. Since 2001, the business has funded about $2.9 billion to 198 companies.
ORIX Corp. USA oversees a total of $85.3 billion in assets — $27.1 billion in assets under management, $47.8 billion in assets under administration, and $10.4 billion in proprietary assets.
The spokeswoman said proprietary assets refers to balance sheet assets, adding that ORIX Corp. of Japan is their parent company and ORIX USA helps invest the balance sheet in U.S. credit alongside third-party assets.
