MDC "Venture Debt" loans help fund tech firms
$600,000 in new loans to three Madison area companies
Private Equity Fund Of Funds By WTN News • 07/20/05
Madison, Wis. - Madison Development Corp. (MDC) reported
Wednesday that is has made
$600,000 in new "Venture Debt" loans to three Madison technology
companies since starting its new Venture Debt Fund this year,
including one loan made earlier this month.
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Curve Equity Exposed Fund MDC, a non-profit development company, started the Venture Debt
Fund to help technology
businesses stretch local venture
capital dollars. Since starting the fund earlier this year, it
has loaned $200,000 each to GenTel Biosurfaces Inc., NeoClone
LLC, and TrafficCast, Inc.
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Equity Income Funds The most recent loan, to TrafficCast, was closed this month and
will help the company develop its array of products and services
for the delivery of real-time traffic data for media, desktop, and
mobile devices, MDC reported.
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Capital Casebook Equity According to Connie Li, vice president and co-founder of
TrafficCast, "We are at a critical stage of development, and the
MDC Venture Debt Fund has enabled the company to move beyond
preliminary applications and engineering to deploy a wider range of
commercial products. To have such support here in the
community is a significant
advantage for Madison-based entrepreneurs. We believe it will
help us achieve our vision to become the national traffic
information supplier of choice, and to build a significant
business with meaningful jobs here in Madison."
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Private Investment In Public MDC's Venture Debt Fund has more than $1 million still available
for tech businesses in Dane County, noted Frank Staniszewski,
president of MDC.
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Equity Mutual Funds Staniszewski said "there has been quite a bit of interest" in
the fund, which focuses on companies that have revenues but not
sufficient cash flow to break even.
Birmingham Contact Equity Much of the interest has come from the biotech sector, which MDC
anticipated, Staniszewski said. "But we have been surprised to see
a renewed interest from the information sciences area," he said,
noting the TrafficCast financing and another information sciences
project that MDC is currently reviewing.
Private Equity Investment Firm Related Articles:
$2 million venture debt fund available for high-growth Dane County
businesses August 16, 2004 by Mike Klein
Madison Development Corp. and CATI form tech transfer partnership
March 15, 2004 by Mike Klein
Three Wisconsin approaches to technology transfer and
commercialization March 17, 2004 by Mike Klein
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