PVG GETS TWO MAJOR INVESTORS WELLPOINT, PREMIER IN VENTURE CAPITAL FUND.Byline: Chris Sieroty Staff Writer ENCINO - Pacific Venture Group, a healthcare-focused venture capital firm, said Monday that two of the largest companies in the health care industry have invested in its second venture capital fund. The Encino-based company said WellPoint Health Networks Inc. and Premier Inc. each invested an undisclosed amount in the PVG PVG Shanghai Pudong International Airport PVG Packet Voice Gateway PVG Piano, Vocal, and Guitar (musical score) PVG Perspective View Generator PVG Pole Vault Girl (Allison Stokke) PVG Product Validation Group II fund, which supports next-generation health companies. ``It means we have some very strong companies investing their money with us,'' said Eve Kurtin, a managing director with Pacific Venture. ``It is a positive development for everybody.'' So far, the second fund has assisted about eight to 10 companies, she said. ``Our focus is health care,'' said Kurtin. ``We fund all stages of health care companies, from seeding companies to mezzanine financing Mezzanine Financing A hybrid of debt and equity financing. Mezzanine financing is typically used to finance the expansion of existing companies, and it is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the .'' The investment in the PVG II fund represents the first investment in a health care venture capital fund by Thousand Oaks-based WellPoint, said company spokesman John Cygul. ``It was one of many opportunities to explore e-business opportunities,'' said Cygul. WellPoint insures 7.5 million medical and approximately 31 million specialty members nationwide. Pacific Venture Group's PVG II fund invests its clients' money in e-health E-health Informatics A philosophy that empowers–E = electronic–health care consumers by bringing information, products and services online , medical device, biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. and health companies, she said. ``We are actively seeking companies to invest in,'' said Kurtin, who reviews about 20 business proposals per day. Pat Postin, senior vice president of planning and communications with Premier Inc., said Premier is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. companies with a bright future. ``We also like to invest in startup companies The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. because it gives us an early window to emerging technologies that will serve the health care industry,'' said Postin. The San Diego-based company offers consulting and management services to member-owned insurance companies and physician practice management. Founded in 1995, Pacific Venture Group currently manages $210 million in all segments of the $1.3 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. health care industry. |
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