Telecom partnership targets NYC market.

Pequot Capital Management and SOFTBANK Venture Capital have announced that they have helped launch and invested in Everest Broadband Networks, a new company that provides high-speed Internet, digital telecommunication and electronic-community services to commercial and residential buildings and hotels.

"Everest has emerged as one of the leaders in bringing carrier-grade broadband access and Internet applications to commercial and residential buildings," said Gerald A. Poch, managing director at Pequot Capital Management. "Everest's core strength is its team of technology and management professionals, who have years of experience in building broadband networks and developing Internet applications that drive e-commerce."

The senior team includes executives formerly with Bell Atlantic and the former director of North American operations for Orckit Communications, one of the top three DSL providers in the world. In addition, the management and investor team has strong relationships with the real estate and financial community.

"New technology-based companies like Everest are going to change how we live, and we are excited to be part of this transformation," said Brad Feld, managing director at SOFTBANK Venture Capital. "Everest's services will benefit property managers, tenants, hotel guests and apartment residents. Property managers can use Everest technology to modernize their buildings, offer Internet and telephony services, receive a portion of the revenue from such services and attract and retain valuable tenants."

Everest will also offer a package of Internet applications, such as a portal with access to e-mail, Web hosting, back-up services, video services and more, Everest CEO Jeffery Feldman said. Commercial tenants can also conduct e-commerce, connect to extranets, build virtual private networks, and construct Web sites, which Everest will host.

Hotels using Everest technology will provide travelers with rapid on-line speed and e-concierge services that will provide information on airlines, restaurants and local entertainment spots, Feldman said.