Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : thcg -- Ignore unavailable to you. Want to Upgrade?

To: Blue Snowshoe who wrote (210)	1/5/2000 9:29:00 AM
From: KLP	Read Replies (1) \| Respond to of 336

News this AM.... Best Wishes, Everyone KLP siliconinvestor.com THCG Launches $100 Million Early Stage Internet Venture Funding Arm THCG Venture Partners I LLC Closes On First $23 Million NEW YORK--(BUSINESS WIRE)--January 5, 2000-- THCG, INC. (NASDAQ: THCG) today announced that it has formed THCG Venture Partners I LLC ("Venture Partners I"), an early stage Internet venture funding vehicle. THCG Venture Partners I has approximately $23 million of committed equity. THCG has a 9.9% equity interest in Venture Partners I and manages Venture Partners I through its wholly-owned venture funding arm, THCG Ventures LLC. THCG is in discussions to form a related venture funding vehicle which it will manage and to increase the committed equity of Venture Partners I. The goal for the two vehicles is a combined total of $100 million of committed equity. GSC Partners, which manages $2 billion of private equity, committed $15 million to Venture Partners I, and has the option to increase its commitment to Venture Partners I by $20 million upon the formation of the related fund. Adi Raviv, Co-Chief Executive Officer of THCG, said, "THCG's strategy is all about creating and growing global Internet businesses by providing venture development, venture banking and venture funding products and services to our partner companies. THCG Venture Partners I is another significant building block of our venture funding capabilities. The availability of capital to support the hyper-growth patterns of our partner companies is a critical element in THCG's ability to execute its strategy." Keith Abell, Co-President of GSC Partners, added, "By having access to significant amounts of capital for its partner companies, THCG will essentially eliminate the need for partner company management to spend months raising capital, and therefore help them redirect resources to the continuing buildup of their Internet businesses, in e-time. As significant shareholders of THCG, we view the progress on the venture funding side as a positive milestone. We will continue to support THCG in closing additional funding." THCG Ventures' management includes Joseph D. Mark and Adi Raviv, THCG's co-CEO's, who will serve as the Co-Chairmen, and Evan Marks, President. Currently, Mr. Marks serves as a Director and a consultant to THCG, and is the Managing Member of Alben Asset Management LLC, a private investment company based in New York. From 1992 to 1998, Mr. Marks was in partnership with George Soros. Prior to his association with Mr. Soros, Mr. Marks was a Managing Director of Wasserstein Perella & Co. and a Senior Vice President of Lazard Freres & Co. On a combined basis Messrs. Mark, Raviv and Marks have been instrumental in the formation, administration and operations of six previous private equity funds (representing aggregate capital commitments in excess of $1 billion), which specialized in venture capital, technology, real estate and mezzanine investments in the United States and overseas. About THCG THCG is a global Internet business creation firm providing venture development, venture banking and venture funding products and services. THCG's mission is to build dominant companies by partnering with leading Internet entrepreneurs and traditional bricks and mortar companies migrating to the Internet. THCG has equity interests in a client portfolio of Internet-related companies including ETRAVNET.COM, Inc. (OTC BB:ETVT, www.travnet.com), iBeauty.com (www.ibeauty.com), Interleaf, Inc. (Nasdaq:LEAF, www.interleaf.com), LogNet Systems Inc. (www.lognet.co.il) and TechOnLine, Inc. (www.techonline.com). THCG also has equity interests in more than 10 additional Internet-related companies, including RealTimeImage Inc. (www.realtimeimage.com), SoftWatch Ltd. (www.softwatch.com), SunShine Media Corporation (www.bikini.com) and webMethods, Inc. (www.webmethods.com). THCG's web site is located at www.thcg.com.