Initium Capital Announces Scottsdale Headquarters

Initium Capital, LLC, an early stage venture capital firm, announced today that its General Partners have decided to establish the headquarter office in Scottsdale, AZ.

(PRWEB) December 31, 2003 --Initium Capital, LLC, a venture capital firm specializing in early-stage life science and information technologies, announced today that it would locate its headquarters in Scottsdale, AZ.

Mark Montgomery, Founder and Managing Director, commented: After several months of evaluation of certain major markets, we decided to keep the headquarters where Initium started - in Arizona." Arizona based universities and institutes have recently invested an additional several hundred million dollars in life science research and development. We believe Arizona is compelling given a number of economic development initiatives taking hold. Initium Capital will be in a great position to participate in this development, locating here is the right thing to do" added Rob Kennedy, CFO and Managing Partner. We have reviewed several hundred partner applicants during our search efforts, and remain confident that we will attract top tier talent to Arizona".

Our General Partners have initially allocated only a modest portion of the planned $250 million Fund 1 to be invested in Arizona start-ups, but the amount is expected to increase as the recent Arizona investments in research and development mature. Fund 1 also contains provisions for a significant Fund of Fund allocation in seed firms targeting pre-institutional investment within life sciences and information technology. In addition, the Firm will continue to negotiate with venture teams on both coasts for future expansion opportunities during the ongoing shakeout in venture capital worldwide.

Initium Capital will benefit from nearly a decade of efforts. We now have the necessary relationships in corporations, institutional investors, top-tier venture capital firms, research labs, and professional services on a global basis. We fully expect to hit the ground running in a manner consistent with the top tier of global venture capital firms", concluded Mr. Montgomery. The Firm expects to announce additional general partners within the next month followed by the initial close of Fund 1 during the first half of 2004.

Initium Capital, LLC is an early stage venture capital firm specializing in information technology and life sciences. The Firm provides capital, expertise, coaching, and relationships to advanced technology start-ups with strong commercialization potential. The Firm has been tracked as an emerging leader in venture capital for over two years by leading institutional investors in private equity.
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