meVC Draper Fisher Jurvetson Fund I Invests $10 Million in eOnline, Inc.
San Francisco, CA - June 6, 2000 - meVC Draper Fisher Jurvetson Fund I,an information technology venture capital fund providing individual investors access to venture capital investments (NYSE: MVC), announced today a $10 million mezzanine investment in eOnline, Inc., a leading
enterprise application service provider. Other investors in the round included Morgan Stanley Dean Witter Private Equity, Trident Capital and GM Investment Management.
eOnline provides outsourced enterprise software solutions to Fortune 2000 companies and e-businesses. With one of the largest and fastest growing client bases in the application service provider (ASP) market,eOnline is SAP certified and is a leader for SAP solutions in the ASP model. The company is focused on delivering tailored business solutions
designed for e-commerce and the Internet economy.
"With such strong support from meVC Draper Fisher Jurvetson Fund I, we will be able to expand our business and leverage the shareholder base of the Fund," said Adrian Ionel, Chairman and CEO of eOnline, Inc. "In the last twelve months, we attained 26 new clients and nearly 11,000
registered users. This round of funding will allow us to reach even more clients with a continued high service level."
"In one year, eOnline has built tremendous momentum in the SAP ASP market and continues to demonstrate impressive growth," said John M. Grillos, Chairman and CEO of meVC Draper Fisher Jurvetson Fund I, Inc. With a core team of leading technical and business experts and strategic partnerships, eOnline has propelled itself into a leading
position and we believe they will continue on this path in the future."
The meVC Draper Fisher Jurvetson Fund I, Inc. closed in March 2000, and will begin trading on the New York Stock Exchange under the symbol "MVC" no later than June 26, 2000. The fund is the first in what will be a family of meVC venture capital funds created to give individual
investors the ability to diversify their investment portfolios and participate in private equity investments.
About the meVC Draper Fisher Jurvetson Fund I, Inc.
meVC Draper Fisher Jurvetson Fund I, Inc., an information technology venture capital fund, was formed through a collaborative effort between meVC, a Delaware corporation, and Draper Fisher Jurvetson, a leading venture capital firm. The Fund's investment objective is long-term capital appreciation from venture capital investments in information
technology companies, primarily in the Internet, e-commerce,
telecommunications, networking, software, and information services industries. Additional information may be obtained by writing to meVC Draper Fisher Jurvetson Fund I, Inc., 991 Folsom Street, San Francisco, California 94107, Attention: Secretary or by calling 877-474-meVC
(6382).
About meVC
meVC is the first venture capital investment management firm to provide all individual investors access to private equity investments. meVC plans to sponsor a family of venture capital funds that invest in various venture capital industry sectors and geographic regions. In
March of 2000, meVC launched its first Fund, a $330 million venture capital fund emphasizing investments in information technology companies. The Fund will be publicly traded on the New York Stock Exchange on June 26, 2000 under the symbol "MVC". The company is headquartered in San Francisco, California, and can be reached via the
Web at www.meVC.com or at 415-977-6150.
About eOnline, Inc.
eOnline delivers leading enterprise business applications in a managed environment to provide end-to-end eBusiness solutions. Clients receive the highest quality service and expertise for rapid deployment of eCommerce, business-to-business and enterprise applications solutions
that are tailored and industry-specific. Founded in 1999 and led by a management team of top industry professionals, eOnline is committed to providing companies of all sizes with world-class eBusiness solutions through guaranteed service level agreements and at a price point
previously unavailable. With the largest and fastest growing client base, eOnline is SAP certified and leads the market for SAP solutions in the application service provider (ASP) model. For more information contact our website at www.eOnlineinc.com. eOnline, Inc. - The ASP for Market Leaders.
Statements in this announcement other than historical data and information constitute forward looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. Potential risks and uncertainties may include, but is not limited to, recent
changes in senior management, fluctuations in operating results, market conditions and changes in technology and increased competition. |
