We founded the firm in October 1999. We sent out our Fund I subscriptions on March 13, 2000 to prospective investors who had pledged $120M. The next day and during the next 4 weeks, Nasdaq dropped 1,600 points from a high of 4,906. Facing melting portfolios, our prospective investors started rescinding their pledges. We stuck to our beliefs and pushed our fundraising to the limit, and through Grit & Determination still managed to close our Fund I at $20M by October 19, 2000.
We invested in optical component startups, fabless chip companies, domain name portfolios. Valuations were attractive, building them was hard work. Surviving the Telecom nuclear winter of 2003-2005, we managed to have 6 successful M&As and a $700M IPO, out of a total of 12 investments, but not without pivoting and restructuring many of them before their exit.
Nam a blandit erat, in fringilla nulla. Nam a blandit erat, in fringilla nulla. Nam a blandit erat, in fringilla nulla.