New York, NY (PRWEB) November 30, 2005
Wireless Venture Partners, Inc., a leading national wireless retailer, announced today that it has completed an initial close of a $10 million Series A financing round led by The Greenspun Corporation and Catalyst Investors, L.P.
Based in Las Vegas, WVP plans to direct the investment into the build-out of new wireless retail locations and strategic acquisitions of wireless retailers.
“WVP is profitable, well-positioned in its markets and has great potential,” said Kurt Swauger, founder and chief executive officer of WVP. “With Catalyst and Greenspun as financial partners, we will continue our strong growth in both new and existing markets and further enhance our market position through strategic acquisitions.”
Gary O’Malley, Senior Vice President at The Greenspun Corporation and Chris Shipman, General Partner at Catalyst Investors L.P., will join the Board of Directors which will be chaired by Mr. Swauger.
Christopher Shipman, stated, “WVP presents a unique opportunity for Catalyst to participate in a national rollout of a wireless retailer that has benefited from emerging distribution trends in the wireless industry. Agents, such as WVP, that provide reliable high quality subscriber activations to wireless carriers, are currently in demand, and are likely to be well into the future.”
About Wireless Venture Partners, Inc:
Wireless Venture Partners, Inc. (WVP) was founded in 2002 by Kurt A. Swauger, a long-time wireless executive who began his career over 15 years an account manager at Paging Network, Inc. (PAGE) As an exclusive dealer of national wireless carriers, WVP expanded from its initial markets in California and Nevada to become a leading national wireless retailer serving over 42 US markets in 700 locations.
About Catalyst Investors, L.P.:
Based in New York City, Catalyst Investors, L.P. is a private equity fund focused on traditional and emerging segments of the media and communications industries. Catalyst is managed by a successful and proven team of investment professionals, who have invested together for more than 15 years. During this time, they have invested approximately $330 million in more than 40 media and communications companies. The Fund makes investments primarily in later-stage companies and selectively in earlier stage ones. http://www.catalystinvestors.com.
About The Greenspun Corporation:
The Greenspun Corporation (TGC) is a privately owned and family-run company that oversees the financial interests of the Greenspun family of Las Vegas, Nevada. TGC operates businesses in residential and commercial real estate, communications, gaming, media, Internet and broadcasting in addition to numerous joint venture associations. http://www.vegas.com/about
For press inquiries, please contact:
Steven Rayman, ESQ
Senior Vice President & General Counsel
Wireless Venture Partners, Inc.
The Greenspun Media Group
# # #