Canoga Park, CA (PRWEB) May 23, 2005
Funk Ventures Capital Partners (ÂFVCPÂ), 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 CoolSystemÂs most recent round of financing in February Â05 and just closed its investment in Surfparks HoldingsÂ seed round earlier this month.
ÂOur entire team is extremely passionate about the wellness sector, personally as well as professionallyÂ, says Andy J. Funk, Managing Director of FVCP. ÂThese days, we are pursuing wellness opportunities ranging from medical devices, life sciences and alternative medicine to quality of life, sustainable living and green technologiesÂ.
CoolSystemÂs 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.
ÂOur 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 companyÂ.
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, FloridaÂs entertainment district. Construction of the first Surfpark is expected to begin this summer, with a grand opening planned for mid 2006.
ÂGiven Funk VenturesÂ expertise in venture capital and real estate investing, Surfparks has become a great platform to build our relationship with themÂ, says Jamie Meiselman, CEO and Founder of Surfparks. ÂWe are looking forward to rolling out additional facilities and hope to keep Funk Ventures as an active investorÂ.
About Funk Ventures
Funk Ventures is a multi-faceted investment firm headquartered in Los Angeles, California. The firmÂs diversified business segments span from venture capital to investment banking and real estate. The firmÂs 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.
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 companyÂs 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 companyÂs 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.
Surfparks was formed to develop and operate the worldÂs first and finest wave riding facilities utilizing proprietary technology to create perfect surf in a pool. The companyÂs first facility, the Ron Jon Surfpark, is owned and operated by Surfpark Holdings, LLC in partnership with the worldÂs 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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