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.
The VC-6 fund will use e-mail and the Web for distributing information to
its investors, which will help to reduce costs. “Communicating with
investors has always been a huge cost of offering venture capital to a mass
audience. The Internet has just slashed that expense to a fraction of what
it has cost us with previous funds,” said Kokesh.
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.