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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Adelle who wrote (51377)	7/20/1999 5:37:00 AM
From: puborectalis	Respond to of 120523

Look at Lycos too......Lycos to create Internet-investing fund - WSJ NEW YORK, July 20 (Reuters) - Lycos Inc. (Nasdaq:LCOS - news) is launching a $70 million Internet-investing partnership that includes Microsoft Corp. (Nasdaq:MSFT - news) co-founder Paul Allen and other technology investors, the Wall Street Journal reported. The Waltham, Mass., Web-portal operator will put $10 million of its own funds into the pool and operate it as a general partner along with Triangle Capital Corp. of Pittsburgh, according to the paper. The partnership plans to invest in young Internet companies that Lycos hopes will make its co-investors a profit while enhancing its own position by supplying technology, retail sales and content. Lycos says its portal is visited each month by half of the 90 million Americans who use the Internet, the Journal reported. In line with other venture-investing pools, the general partner, a company formed by Lycos and Triangle Capital called Lycos Triangle Partners LLC, will reap 20 percent of all realised investment gains from the partnership and an annual management fee, the paper said. Lycos gets a pro rata share of what remains after that cut. Lycos's other partners in the fund include Bear Stearns Cos. (NYSE:BSC - news) as well as Japanese trading house Sumitomo Corp. and Mirae Corp. of Korea, which respectively operate Lycos's portals in Japan and Korea. Each will contribute from $5 million to $10 million, and they say they hope to take advantage of Lycos's expertise in the Internet to find companies most likely to soar in value, teh paper reported.