Maine Businessman Michael Liberty Appointed to $100 Million Tech Fund; Appointment Likely to Mean Additional Investments in Maine.Business/Technology Editors PHILADELPHIA--(BUSINESS WIRE)--Dec. 22, 1999 Michael A. Liberty, a prominent Maine Maine, ship Maine, U.S. battleship destroyed (Feb. 15, 1898) in Havana harbor by an explosion that killed 260 men. The incident helped precipitate the Spanish-American War (Apr., 1898). Commanded by Capt. Charles Sigsbee, the ship had been sent (Jan. entrepreneur entrepreneur (än'trəprənûr`) [Fr.,=one who undertakes], person who assumes the organization, management, and risks of a business enterprise. , has been named to the advisory board of Keystone key·stone n. 1. Architecture The central wedge-shaped stone of an arch that locks its parts together. Also called headstone. 2. The central supporting element of a whole. V, a new $100 million venture capital fund created by Keystone Venture Capital that invests in information technology, Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. and other high tech industries throughout the U.S., including several companies in Maine. Keystone's portfolio currently is made up of more than 20 companies, including the Brunswick, Maine-based EnvisioNet, the fastest growing company in the state that will create more than 1,000 new jobs in Maine as a result of a recently announced Keystone investment. Biddeford Textile, which Liberty helped rescue in 1997, also is part of the Keystone fund. In addition, Liberty's Massachusetts company, Cambridge Associates Holdings Corp. (CAHC CAHC Canadian Animal Health Coalition ) is the largest private investor in the fund, which targets high-growth industries and consumer products. Liberty serves as president of CAHC, and his partner, prominent Boston businessman Joseph O'Donnell, serves as chairman. Other dynamic industry performers that are part of the Keystone V group include CDNow, L-90, Hollywood Stock Exchange and Geosphere Systems. In his new role on the advisory board, Liberty will provide guidance to the companies that make up Keystone V's portfolio, as well as identify which companies to invest in. His involvement is likely to mean more new investments for Maine, such as the recent EnvisioNet investment and expansion. "Keystone has been consistently ahead of the curve in selecting quality, high-growth companies that are leaders in their respective technologies or industries," Liberty said. "It's exciting to be involved in the continued growth of these companies and this fund. The rewarding part for me is that we are able to invest in Maine companies and those investments are creating great jobs for Maine people. That's important to me." Keystone's managing director, Kerry J. Dale, appointed Liberty to the fund's advisory board. "Keystone V presents a wonderful opportunity to combine Michael Liberty's entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. skills and global relationships with our bottom line needs," said Dale. "We look forward to working with Michael to preserve and create jobs in Maine and throughout the country. We already have benefited from his global resources, experiences and knowledge." A Maine native and resident of Gray, Liberty, 39, is known for his job preservation efforts in Maine, including the successful rescue of the Biddeford Textile plant in 1997 and the Hathaway Shirt Company in Waterville in 1996. Liberty continues to serve on the boards of both companies, which are thriving thrive intr.v. thrived or throve , thrived or thriv·en , thriv·ing, thrives 1. To make steady progress; prosper. 2. and expanding today. For photo or more information contact: |
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