SOFTBANK, CMVT & PCG Become Shareholders in STIVentures N.V. By Investing $50 Million
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SOFTBANK, Comverse Technology and PCG Become Shareholders in
STIVentures N.V. By Investing $50 Million
Business Editors
AMSTERDAM, The Netherlands--(BUSINESS WIRE)--Oct. 23, 2000-- STIVentures N.V., a leading international technology investment company, has announced the completion of a round of private financing in the amount of approximately $50 million.
The financing was led by SOFTBANK Europe Ventures, with Comverse Technology and Pacific Capital Group. An additional round of financing in the amount of $10 million is anticipated to be completed within the coming weeks.
"STIVentures plans to utilize the funds raised in this financing towards further implementing its strategy of investing over $500 million in technology companies during the next five years," said Beny Steinmetz, chairman of STIVentures N.V.
STIVentures, incorporated in The Netherlands, is managed from its headquarters in Amsterdam, and supported by its advisory offices in the U.S. and Israel. Since its establishment, STIVentures has invested in over 35 technology companies, many of which draw from Israel's technological base. Business segments covered by these companies include communications and wireless technologies, Internet infrastructure and enterprise software. STIVentures generally invests in early stage companies with the aim of taking a large minority position.
Amongst STIVentures' portfolio companies are Brightcom, Speedwise, Orika and hLAN in the wireless and communication arena; InterWise, ASC Billing and Banter in the enterprise software arena; Tucows, Diamond.com and From2.com in the Internet arena. Successful exits include Tradeum, Butterfly, Security 7 and others.
The STIVentures team consists of 16 professionals worldwide. The STIVentures team, headed in the US by Stanley Stern and in Israel by Erez Aluf, includes other technologists with backgrounds in noted Israeli academic, military and industrial institutions. STIVentures provides technological, strategic and managerial guidance to its portfolio companies. By utilizing its broad international network, STIVentures provides a range of services including cross-fertilization, business development, market penetration and executive recruitment.
"The partnership with these three leading investors enhances STIVentures' position on the cutting edge of technology, in the fields of Internet infrastructure, optical networking, cable technologies and wireless," said Beny Steinmetz. "The combination of our management team and our new investors, each of whom is a global leader in their field, creates an exciting and favorable working environment for our portfolio companies."
"STIVentures is a leader in mobilizing Israel's well-recognized technology talents, particularly at the early stage of companies' development," said Eric Hippeau, Managing Partner of SOFTBANK Europe Ventures. "This partnership will provide a unique ability to identify and size-up leading edge technologies and fuel the birth of companies we expect to be technology leaders in Europe and globally."
About Softbank
Launched in March 2000, Softbank Europe Ventures (SBEV) is a USD 500 million fund targeting local entrepreneurial Internet ventures in Europe. SBEV is dedicated to building the best new economy companies in Europe; key investments areas include Internet infrastructure, wireless, B2B and ecommerce. Its investments to date include Startupfactory, Picofun and STIVentures NV. Offices are located in Paris, Munich and London. SBEV is part of Softbank Corp (Tokyo Stock Exchange: 9984) one of the world's leaders in building great Internet companies with a portfolio of over 400 leading Internet brands. For more information, please contact Lee Feldman at lee_feldman@softbank.com or 00 1 212 503 3542.
About Comverse
Comverse Technology, Inc., headquartered in Woodbury, New York, designs, develops, manufactures and markets computer and telecommunications systems and software for communications and information processing applications. Comverse Technology is an S&P 500 and NASDAQ-100 Index company.
About Pacific Capital Group
Pacific Capital Group, Inc. ("PCG") was founded in 1985 by Gary Winnick and has been a leading principal equity investor and merchant banking firm. PCG provides capital to global companies in the telecommunications, technology, internet, media, real estate and healthcare sectors. PCG was the founder of Global Crossing, Ltd. (Nasdaq: GBLX), the world's leading independent developer, owner and operator of open-access, undersea and land-based fiber optic global telecommunications networks. PCG is headquartered in Beverly Hills, with nine additional offices throughout the world.
For further information on STIVentures see www.STIVentures.com |
