Ralph T Iannelli

Ralph T. Iannelli Jr. is a self-described 40-year veteran of the finance, venture capital, and technology markets. He earned a Bachelor of Arts in History from Saint Joseph's College in Rensselaer, Indiana, and has cited additional study at the University of Chicago. He began his career as a securities trader on Wall Street and later held management positions at IBM, served as Executive Vice President at Nixdorf Computer and at Pitney Bowes Inc., became a Partner at American Computer Leasing Corporation, and was a Principal at RAM Capital Corporation.

In 1993 Iannelli founded Essex Capital Corporation, a firm that provides funding to companies seeking to acquire assets through lease financing and sale-leaseback transactions rather than outright purchase. Essex relocated to a renovated historic building in Santa Barbara in 2006 and states it has delivered more than $1 billion in lease financing while maintaining a portfolio of 15+ direct equity investments across pharmaceuticals, healthcare, environment, e-commerce, and nonprofits. Iannelli has served on the boards of portfolio and community organizations including Givezooks!, Neos Technologies LLC, and Emida Technologies Inc., and has taught courses at Loyola Marymount University and UC Santa Barbara. He has been active in Santa Barbara civic and philanthropic life (Montecito Education Foundation, Bishop Garcia Diego High School, the Santa Barbara Foundation's investment committee, and Cottage Rehabilitation Hospital).

Iannelli's public record carries serious regulatory findings that any founder or investor should weigh. In 1974 the SEC charged him with making unauthorized trades in customer accounts to manipulate a stock's price, and he was barred from the securities industry in 1975. Decades later, on June 5, 2018, the SEC filed a civil fraud complaint (SEC v. Ralph T. Iannelli and Essex Capital Corporation, Case No. 2:18-cv-05008, C.D. Cal.) alleging that from 2014 to 2017 he and Essex defrauded roughly 70 investors in an ~$80 million offering of promissory notes paying 8.5%–10% annual interest. The SEC alleged that despite marketing claims that "100% of investor funds would be utilized to purchase equipment," Essex spent only a fraction on equipment and resorted to "Ponzi-like payments" of at least $15 million, while Iannelli paid himself bonuses and took interest-free loans. A judgment was entered permanently enjoining Essex from violating Section 10(b) and Rule 10b-5, the company was placed into receivership, and Iannelli reached a tentative settlement with the SEC.

• Core model is venture/equipment leasing and sale-leaseback financing — helping small and mid-sized companies obtain equipment and assets via lease structures rather than capital purchases, freeing up working capital.
• Alongside financing, Essex has taken direct minority equity positions in 15+ portfolio companies, historically co-investing next to institutional VC firms.
• Sector emphasis on pharmaceuticals, healthcare, and technology, with additional exposure to environment and e-commerce.
• Essex has described itself as working "with several well-known venture capital firms," naming relationships with Burrill & Company, CMEA Capital, Essex Woodlands, and GRP Partners — positioning Essex as a lease-financing partner to VC-backed companies rather than a lead priced-round investor.