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GRACE VENTURES PARTNERSHIPS II AND III INVEST IN MINISTOR PERIPHERALS CORPORATION

 GRACE VENTURES PARTNERSHIPS II AND III
 INVEST IN MINISTOR PERIPHERALS CORPORATION
 CUPERTINO, Calif., May 15 /PRNewswire/ -- Grace Ventures Partnerships II and III today announced that they have increased their combined stake in MiniStor Peripherals Corporation of San Jose, Calif. from $750,000 to $1.5 million.
 "I am very pleased," said Alex Malaccorto, MiniStor's president and chief executive officer, "with the continuing investment of Grace, Horn Ventures, Kleiner Perkins Caufield & Byers, and Institutional Venture Partners. I am also delighted with the addition of Philadelphia Ventures, New York Life, Stanford University, Samsung and KTDC to our investor group."
 MiniStor officially introduced its "MiniPORT" family of 1.8 inch high capacity disk drives on March 23, 1992. Volume production is planned for the second half of 1992. In addition to efficient hard disk storage for the laptop and notebook computer market segments, the MiniStor family is especially well suited for many new applications such as advanced facsimile machines, imaging, laser printers and small disk arrays.
 Grace Ventures Corp., a wholly owned subsidiary of W. R. Grace & Co. (NYSE: GRA), and Horn Venture Partners, a partnership of the officers of Grace Ventures, manage more than 50 high technology, emerging growth company investments through three venture capital funds: Grace Ventures Partnerships I, II and III. Investors in these funds are from nine countries and represent industrial concerns, banks, financial institutions, venture capital funds and private individuals.
 -0- 5/15/92
 /CONTACT: Chuck Suits of W. R. Grace, 407-362-2600 or 800-GRACE99/
 (GRA) CO: Grace Ventures Partnerships II and III; MiniStor Peripherals
 Corporation ST: California IN: CPR SU:


AW -- FL007 -- 0662 05/15/92 10:42 EDT
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Publication:PR Newswire
Date:May 15, 1992
Words:271
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