VentureNet Inc. Retained Utendahl Capital Partners, L.P. As Its Financial Advisor
TEMECULA, Calif.--(BUSINESS WIRE)--July 10, 2000--VentureNet Inc. (www.vntrnet.com, a Delaware Corporation, ticker symbol: VNTN) Monday announced that it has retained Utendahl Capital Partners, L.P. ("Utendahl") as its financial advisor, the leading minority-owned investment banking firm in the United States.
Utendahl will be advising and assisting VentureNet in all phases of its corporate and capital market activities.
Utendahl, a Wall Street based institution, is the largest African-American owned investment banking firm in the United States. Utendahl provides a full menu of investment banking products and services to Fortune 500 and U.S.-based corporations. These services are focused primarily in investment banking and in broker-dealer activity, mergers and acquisitions, and private equity funds.
Since its inception in 1992, Utendahl has participated in the underwriting, structuring and placing of more than $430 billion in corporate, asset-backed, mortgage-backed, common stock, preferred stock, convertible and Agency securities.
Last year, Utendahl lead-managed, co-managed and underwrote over $42 billion in corporate fixed-income and equity financings for companies such as American Express , AT&T Corp. , Bank of America, Blockbuster Inc,. Chase Manhattan, Coca-Cola Enterprises, Inc., Covad Communications Group, Inc., Cox Communications, Deutsche Bank Securities, Goldman Sachs Group, GTE California Inc., Horseshoe Gaming, Kroger Co., New England Telephone, Pepsi Bottling Group, Procter & Gamble, Rhythms Net Connections, R.R. Donnelley & Sons, Safeway, Sprint Capital Corp., Sprint PCS, Time Warner Telecom, United Parcel Service, and Wit Capital Group, Inc.
Utendahl is able to execute a transaction from beginning to end with seasoned professionals from its Investment Banking Division to its veteran sales force on the distribution side. Utendahl's Investment Banking Division provides clients with advisory services related to corporate finance, mergers and acquisitions, restructuring and broad strategic advisory.
The division participates in both sell-side and buy-side opportunities, with a focus on sell-side engagements. It is staffed with professionals from top-tier firms, which enables Utendahl to deliver the level of service provided by major investment banks with the attention to detail that can only be given by an investment boutique.
In terms of distribution, Utendahl has developed a niche business that is perfectly matched to meet the need for a diverse distribution base. Utendahl Capital Partners provides true incremental distribution for securities through its broad base of accounts focused on portfolios of $500 million to $7 billion.
These accounts generally are not considered sizable enough to warrant the attention of larger firms.
In addition, Utendahl offers clients high-quality equity and fixed-income research that provides unbiased, in-depth investment advice in a variety of business sectors.
Utendahl Capital Management L.P. and Utendahl Capital Management CFI L.L.C., affiliates of Utendahl Capital Partners, are SEC-registered investment advisers specializing in fixed-income and convertible bond asset management. Together, the firms currently have approximately $3.6 billion in assets under management. The majority of clients are comprised of Fortune 500 pension plans.
Utendahl presently manages and sponsors two $100 million private equity funds, UrbanAmerica and United Enterprise Fund. These funds are focused on providing the much-needed capital for today's minority owned businesses and communities.
VentureNet specializes in providing financing and management expertise to pre-public and public emerging growth companies, demonstrating a high-growth potential. The core of the company's business is bringing together companies and value seeking investors an opportunity for substantial returns, while helping the most promising companies realize their visions for the future.
VentureNet is a venture capital firm that specializes in funding early state and first round financing for consumer and technology based companies.
For further information, contact Tammy Billington in Shareholder Relations at 909/693-1644.
Safe Harbor Statement
The foregoing news release may include numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this press release relating to product development, business prospects and development of a commercial market for technological advances are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.
CONTACT: VentureNet Inc.
Tammy Billington (Shareholder Relations), 909/693-1644
E-mail: info@vntrnet.com |
