Cambridge, MA-based Zero Stage Capital Company Inc., a
seed/early stage venture capital firm, said that it has provided venture
financing for the management spinout of Toysmart.com from The Holt Co. of Waltham,
Mass.
Funding specifics were not disclosed.
Stanley L. Fung, managing director of Zero Stage Capital, was recently named
to the Toysmart.com board of directors.
“Toy sales over the Internet
are emerging as a major category of electronic commerce,” he said. “Having
established
itself as a leading site for educational toys as Holt Educational Outlet,
Toysmart.com is now positioned to take advantage of the rapid growth of the
segment as an independent company.”
Established in 1998, Toysmart.com offers educational toys and is building its
business under the slogan, “Smart from the Start.”
“Knowing that the online toy industry will be extremely competitive in 1999,
we are relying heavily on our partnership with Zero Stage Capital to elevate
the overall perception of Toysmart.com in the marketplace,” said David Lord,
CEO of Toysmart.com.
Toysmart.com features more than 20,000 of developmental and educational toys
and learning tools for children. Complete lines of top-quality educational
products such as Playmobil are discounted up to 50 percent off the
manufacturer’s
list price. A special teachers’ section includes curriculum guides, teacher
resources, classroom decorations and art supplies.
Zero Stage Capital’s prior investments have included IBIS Technology Corp.,
Matritech, Inc., Mercury Computer Systems Inc., PerSeptive Biosystems,
SystemSoft Corp. and Xiox Corp., all of which have gone public.
