UK Venture Capitalist Puts Money Into Mascot

UK venture capital company
Arts Alliance
is making a substantial investment in
Mascot Network,
the leading creator of college portals in the U.S.

Mascot Network will receive £750K ($1.2 million) in
seed-round venture financing from a group
of investors led by Arts Alliance.

Founded in 1998, Mascot Network provides universities with
personalized Internet communications and content. It was
the winner of a Harvard Business School business idea
competition and has been working closely with Arts Alliance
for over a year.

“With 15 million students and more than 4,000 colleges and
universities in the U.S. alone, the available market for
Mascot Network is enormous and untapped,” said Victoria
Hackett, partner in Arts Alliance.

Starting in the autumn, Mascot Network will provide
colleges with a customised web-based service designed
to improve student life by acting as an information
exchange.

“Our goal is to be the start page on every student
desktop, enabling college students worldwide to access
the best utilities and content available for their
locality and their demographic,” said Jason Palmer,
CEO of Mascot Network.

“Users of our network will be empowered by quick, easy
access to the information and services they need to
improve and enhance their everyday lives.”

Mascot Network is based in Cambridge, Mass.