Encore Fitness Secures Early-Stage Financing
Encore Fitness, a provider of quick, effective and high-intensity cardiovascular workout facilities, announces that it has received its first institutional round of financing from Funk Ventures.
Sherman Oaks, CA (PRWEB) July 29, 2004 -- Encore Fitness, a provider of quick, effective and high-intensity cardiovascular workout facilities, today announced it has received its first institutional round of financing from Funk Ventures Capital Partners, the venture capital arm of Los Angeles based private equity firm Funk Ventures. The investment was announced by Encore Fitness CEO and co-founder Jennifer Benson. Terms of the investment were not disclosed.
This is the second round of financing for Encore Fitness, which had secured its seed round of funding from private investors in early 2003.
"This investment from Funk Ventures is an important step towards the implementation of a new and exciting partnership we have formed with one of the most up and coming companies in the cardio workout arena today," says Benson, a seasoned fitness entrepreneur. We pride ourselves in being first to bringing the newest and most effective wellness trends to market, and this partnership will allow Encore Fitness to become one of the premier high intensity fitness facilities in Southern California."
A formal announcement of the company's new strategic partnership is expected within a few weeks.
About Encore Fitness
Since its inception, Encore Fitness has focused on high-intensity cardiovascular workouts, such as spinning, an indoor cycling trend that has found millions of enthusiastic followers worldwide. Best known for operating one of the largest spinning facilities in Los Angeles, and rated "Best Spinning Gym" twice in a row, Encore Fitness is planning to continue to invest and expand its presence in the Southern California region. For more information, please visit www.encorefitness.com or call 818-823-1920.
About Funk Ventures
Funk Ventures is a multi-faceted private equity firm headquartered in Los Angeles, California. The firms business segments span from venture capital and investment banking to real estate and business services. The firms venture capital arm, which makes value-add investments in promising companies in the technology, wellness and education markets, is complemented by an investment banking unit which provides access to outside capital to private and emerging companies. Funk Ventures also develops and invests in real estate and runs a business services unit that provides professional and advisory services to its clientele and portfolio companies. For more information, visit www.funkventures.com or call (818) 716-0413. Funk Ventures is a registered trademark of Funk Ventures, Inc.
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