ONE CLICK, YOU'RE A VENTURE CAPITALIST
SURE, THE INTERNET IS great for checking the weather and the latest box scores. But is it a good place to invest thousands in a venture capital fund?
Technology Funding, San Mateo, Calif., thinks so. Headed by general partners Charles Kokesh (left) and Greg George, the company recently got the O.K. from the Securities & Exchange Commission to market a $100 million private limited partnership over the Internet, the first fund of its kind offered online. One last hurdle remains before the high-tech fund debuts on the Net: the go-ahead from the National Association of Securities Dealers. It's expected shortly.
Although most venture capital funds appeal to institutional investors or wealthy individuals, Technology Funding, which has helped launch 230 emerging companies since 1979, has predominantly catered to small investors with minimum investments around $2,500. One can sink as little as $1,000 in the prospective fund, and it can be invested over the Web using a credit card number. The cautious can mail a check. But come to think of it, if you were all that cautious, you probably would not be investing in a venture capital fund.
By Thomas Bartlett
Updated Aug. 21, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.