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Odeon Closes First Venture Fund at $115m.

Odeon Capital Partners, a newly-formed venture capital group, announced Wednesday that it has closed its first fund at $115m. New York-based Odeon says it was formed with the purpose of offering both capital and talent to emerging start-ups. It believes the start-up industry is under-served when it comes to groups that can provide more than just "dumb money" and actually assist operationally and strategically, which it sees as its primary objective.

Odeon's plan is to invest from $3m to $5m in roughly 30 to 35 early and select later-stage funding rounds. It will focus on internet companies, and networking companies that enable e- commerce and has already invested roughly $14m in nine start-ups. Odeon's structure includes an advisory board and a network of consulting and strategic partners, including the likes of current or retired CEOs and marketing executives, for example, to assist young companies in the execution of their business plans.
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Publication:Computergram International
Geographic Code:1USA
Date:Aug 19, 1999
Words:151
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