Funk Ventures continues on Wellness Path, Invests in CoolSystems and Surfparks

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Funk Ventures continues to pursue opportunities in the wellness space, positioning itself as one of the premier wellness investors in the country.

Funk Ventures Capital Partners (“FVCP”), the venture capital unit of Funk Ventures, continues to aggressively pursue opportunities in the wellness space, as evidenced by its two most recent investments, CoolSystems, Inc. and Surfparks Holdings, LLC. FVCP participated in CoolSystem’s most recent round of financing in February ‘05 and just closed its investment in Surfparks Holdings’ seed round earlier this month.

“Our entire team is extremely passionate about the wellness sector, personally as well as professionally”, says Andy J. Funk, Managing Director of FVCP. “These days, we are pursuing wellness opportunities ranging from medical devices, life sciences and alternative medicine to quality of life, sustainable living and green technologies”.

CoolSystem’s sports injury device, for instance, employs patented technology originally developed for NASA to simultaneously deliver cold therapy and intermittent compression to accelerate the body's natural healing process, allowing athletes and active people to recover from sports injuries in half the normal time. Recently rated the #1 product to watch in 2005 by Inc Magazine, GameReady is the most effective soft tissue injury treatment system available in the marketplace today.

“Our technology bridges the medical device and consumer product marketplaces, so we looked for a venture partner with expertise in both of those arenas", says Tom Oliver, CEO of CoolSystems, formerly of PowerBar. "With its diverse approach to wellness and healthcare, Funk Ventures has proven to be a perfect fit for our company”.

No less exciting than CoolSystems is Surfparks, the company developing the first wave pool facility built specifically for surfing and bodyboarding to accommodate all levels of wave-riding enthusiasts. $3 million in construction financing and over $6 million in venture funding was secured last week, with FVCP and Ron Jon Worldwide leading the venture round. The Ron Jon Surfpark will be an anchor attraction at Festival Bay Mall, located on International Drive in the heart of Orlando, Florida’s entertainment district. Construction of the first Surfpark is expected to begin this summer, with a grand opening planned for mid 2006.

“Given Funk Ventures’ expertise in venture capital and real estate investing, Surfparks has become a great platform to build our relationship with them”, says Jamie Meiselman, CEO and Founder of Surfparks. “We are looking forward to rolling out additional facilities and hope to keep Funk Ventures as an active investor”.

About Funk Ventures

Funk Ventures is a multi-faceted investment firm headquartered in Los Angeles, California. The firm’s diversified business segments span from venture capital to investment banking and real estate. The firm’s venture capital arm, which makes value-add investments in promising companies in the wellness space, is complemented by an investment banking unit which provides access to outside capital to private and emerging companies. Funk Ventures is also actively involved in developing and investing in real estate, with a focus on resort destinations and sustainable living communities. For more information, visit http://www.funkventures.com or call (818) 716-0413. Funk Ventures is a registered trademark of Funk Ventures, Inc.

About CoolSystems

CoolSystems, Inc. was born out of a revolutionary idea-that spacesuit technology can treat athletic injuries. As a designer for NASA and inductee into the US Space Foundation's Hall of Fame, the company’s founder helped pioneer the technology involved in controlling temperature and pressure within a flexible garment. In 1998, the company began working with athletes, athletic trainers, and doctors to expand his discoveries into the realm of sports medicine. Today, the company’s GameReady device is the most effective soft tissue injury treatment system available in the marketplace. For more information, visit http://www.coolsystems.com or call (510) 559-3940.

About Surfparks

Surfparks was formed to develop and operate the world’s first and finest wave riding facilities utilizing proprietary technology to create perfect surf in a pool. The company’s first facility, the Ron Jon Surfpark, is owned and operated by Surfpark Holdings, LLC in partnership with the world’s largest surf shop, Ron Jon Worldwide. Surfpark waves are powered by Aquatic Development Group and Surf Pools Ltd. For more information, visit http://www.surfparks.com or call 908-654-7063.

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David Krasnow
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