Firm to Offer $100 Million Fund to Online Investors
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Venture capital firm Technology Funding started selling shares of its latest venture capital fund over the Internet at 12:01 a.m. Tuesday.
Chairman and founder of Technology Funding, Charles R. Kokesh, reports the company will sell its $100 million Venture Capital Fund VI (VC-6) exclusively to investors over the Internet, targeting the small investor.
"This is a landmark event for the small investor," said Kokesh. "The Internet becomes the great equalizer, bringing the same class of investment to individual investors that until now has been the exclusive province of large institutions, pension funds and very wealthy families."
The VC-6 venture capital fund will target its investments in companies that show a high growth potential in information technologies, including the Internet, medical technologies, and industrial automation technologies.
Kokesh states the company received approval from both the Securities and Exchange Commission (SEC) and National Association of Securities Dealers (NASD) to conduct electronic sales of the shares.