ETF Group Launches US Headquarters to Drive Emerging Technology Companies' Capitalization of International Market Opportunities.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 15, 2000 Global Value-Added Venture Capital Firm Provides the Intellectual and Financial Capital Needed to Enable Rapid Worldwide Growth for Emerging Companies Reinforcing its commitment to providing a global network of resources for emerging technology companies, ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). Group--one of Europe's largest and most successful value-added venture capital firms--has established its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. headquarters in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Part of a global network of offices in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia, ETF Group US will provide privately held high-tech companies with the resources and expertise needed to accelerate their international time-to-market and reduce market entry strategy error. Realizing the global potential of Internet platform technology companies, ETF Group's new office will focus its investment in selected verticals, including broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). and wireless enabling technologies, e-Financial services, e-Service companies and an emerging focus on the distributed computing (1) The use of multiple computers networked throughout a wide geographical area, or the world via the Internet, in order to solve a single problem. See grid computing. (2) The use of multiple computers in an enterprise rather than one centralized system. and networking market. "Internet-related companies in the US are screaming for the resources, expertise, network and capital necessary to take their services and technologies to the global marketplace," said Michael Sheldon, managing director of ETF Group US. "ETF Group's presence in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. will enable emerging Internet platform technology companies to realize untapped market opportunities and achieve international expansion goals 18 to 24 months earlier than they would have on their own." "ETF Group can help US companies tackle their two biggest challenges," said Hans Stander, chief investment officer of ETF Group. "First, through our network of partnerships, including Heidrick & Struggles, the leading worldwide executive recruitment firm, we can find the human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. they need to be successful in multiple markets. Second, through our technology expertise and global network of business and investment partners and professionals, including IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , we can help companies quickly reach these new international markets. Today, ideas can travel across borders faster than many companies can grow. We help companies catch up to their ideas, so companies can be secure that they are not beaten at their own game in another market." The New York City office will broaden the reach of the Switzerland-based ETF Group, whose value is approximately $800 million, helping its experienced investment professionals identify opportunities to expand its portfolio of 60 US- and European-based companies, including Commerce One, 2Bridge, TheBEAST.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. , the Fantastic Corporation and eWork Exchange. ETF Group participated in the funding of Commerce One in October 1997, facilitating its move to the global market. The company debuted on Wall Street at $21 a share; it is now worth 15 times the initial asking price. ETF Group led the funding of 2Bridge, Inc., creator of e-business portals, in July 1999. Since that time, 2Bridge has seen its customer base grow by 300 percent; ETF facilitated corporate alliances for 2Bridge and aided in its expansion to Europe. ETF Group led funding for TheBEAST.COM, the Fantastic Corporation, Sorceron and many other companies. ETF Group US will be led by the investment team of Michael Sheldon and Hans Stander. Their team of veteran technologists and experienced business leaders will provide counsel and strategic guidance to help entrepreneurs and investment partners make sound business development and international expansion decisions, working closely with ETF Group's global network to help companies quickly grow internationally. "ETF Group has long recognized the importance of the North American marketplace, and we've been investing in US companies since our founding," said Giorgio Ronchi, founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ETF Group. "With the opening of a US-based office, we are better able to identify new opportunities in that market and provide true value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. to our new and existing clients." One such service is access to the resources of Heidrick & Struggles International, Inc. (Nasdaq: HSII), the world's largest and premier executive-level search and consulting service Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" , which has recently partnered its ventures subsidiary with ETF Group and will serve as the preferred global recruiter of senior-level executives for ETF Group's portfolio companies. About ETF Group ETF Group is a global value-added venture capital fund that helps emerging companies expand beyond their domestic markets and become global technology leaders. With headquarters in Switzerland and offices in Europe, the United States and Asia, ETF Group, with a value of $800 million, currently maintains a portfolio of about 60 companies. With an emphasis on Internet-focused and enabling technologies, ETF Group seeks out long-term investments in companies positioned to take advantage of opportunities in the current global technology landscape, and in need of the resources, expertise and network necessary to expand operations and penetrate new markets. Selected past and current investments include Commerce One, The Fantastic Corporation, Sorceron, TheBEAST.com, eWork Exchange and many other companies. For more information, visit the company's Web site at www.etfgroup.com. |
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