On August 25, 2008, Palisade Concentrated Equity Partnership II, LP ("PCEPII"), a $140 million private equity fund managed by Palisade Capital Management, LLC, committed to invest $3 million in Caliber Therapeutics, Inc. ("Caliber"). Caliber is a provider of a potentially game-changing drug-eluding balloon technology for vascular applications. PCEPII committed to two separate tranches and invested $1.35 million in the first tranche of the $9 million Series A financing round. These funds will be used to secure and develop intellectual property, pay joint venture development costs, and prepare for clinical studies.
On May 16, 2008, PCEPII invests $15.0 million in Glenmount Global Solutions, Inc. ('Glenmount' or the 'Company'). Glenmount is a leading independent industrial IT services firm in North America, with over 350 associates in 25 offices. Proceeds from the financing round were used primarily to acquire Crown Holdings, which will be merged with Glenmount's two other operating companies to expand the Company's reach and expertise across a variety of industries and business sectors, including water & wastewater, metals, food & beverage, and oil & gas.
Ms. Madha joined Palisade Capital on April 28, 2008. As Marketing Associate, Eva is responsible for completing RFPs and for developing, preparing, revising and maintaining marketing materials, competitive analyses and lead generation. In addition, Eva will work with consultants to ensure that information regarding Palisade in consultants' databases is kept current. Eva joins us from Bear Stearns where she was a Marketing and Data Analyst. Prior to that, Eva worked for eight years at Merrill Lynch, her last position being Request for Proposal Analyst. Eva has successfully completed Level 1 of the CFA Program. She received her Aerospace Engineering Masters from Parks College, Cahokia, IL and her B.S. in Aerospace Engineering Technology from Cal State Polytechnic, Pomona, CA.
On February 11, 2008, Palisade Concentrated Equity Partnership II, LP, a $140 million private equity fund managed by Palisade Capital Management, LLC, invested $6.2 million in Ruby Tequila's Mexican Kitchen, LLC ('Ruby Tequila's'). Ruby Tequila's operates four Texas Mexican style restaurants in Lubbock, Amarillo and Selma, Texas. Ruby Tequila's will use the financing to support its roll out of over 30 restaurants over the next five years. Ruby Tequila's was founded in 1991 and differentiates itself through the delivery of high quality mesquite grilled food made from scratch, good service, and a fun, vibrant atmosphere.
On December 28, 2007, Palisade Concentrated Equity Partnership II, LP, a $140 million private equity fund managed by Palisade Capital Management, LLC, invested $8.1 million in Shoe Sensation, Inc. ('Shoe Sensation'), a retailer of branded family footwear in small towns throughout the Midwest. Palisade intends to enhance Shoe Sensation's footprint across the rural Midwest as it grows into a leading niche purveyor of branded footwear and apparel.
On December 3, 2007 Palisade Concentrated Equity Partnership II, LP, a $140 million private equity fund managed by Palisade Capital Management, LLC, invested $2.0 million in Mitralign, Inc. ("Mitralign") as part of a $24.0 million Series C financing round. Mitralign has developed an advanced system for treating mitral valve regurgitation, a heart condition which can lead to damage to the heart and other vital organs of the body. Proceeds from the financing round will enable Mitralign to complete its initial clinical experience and to obtain CE Mark approval of the Mitralign System.
We believe 2021 will be another favorable year for convertibles and remain a compelling asset class, especially for those that have re-examined their allocation framework and appetite for risk given the rollercoaster ride of 2020.