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FOR IMMEDIATE RELEASE
Contact: David A. Jones, Jr.
Chairman/Managing Director
Chrysalis Ventures
502-583-7644
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CHRYSALIS VENTURES CLOSES
ITS NEWEST
VENTURE CAPITAL FUND AT $143 MILLION
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LOUISVILLE, KY (May 10, 2002) - Chrysalis Ventures,
Kentucky's largest venture capital firm and a
leading source of venture capital in the Southeast
and Midwest, announced today that it has concluded
fund raising for its fourth, and largest, venture
capital fund. The $143 million fund attracted
a variety of new institutional investors from
the pension, endowment, foundation, insurance,
fund of funds and banking sectors.
Founded in 1993, Chrysalis invests primarily in
early-stage companies in the business services,
information technology, media and entertainment,
telecommunications, financial services and healthcare
sectors.
Chrysalis' new fund will make private equity investments
in emerging high-growth companies in the Southeast
and Midwest. The fund will invest in both early-stage
companies and in later stage companies seeking
follow-on venture financing. Chrysalis' prior
funds have invested in 30+ companies. The new
fund plans to invest in approximately 25 companies
over the next four years. Initial investments
will typically range from $1.5 to $2.5 million
per company, with follow-on financing available
to fund growth. The fund will be managed by Chrysalis'
three managing directors: David Jones, Jr., Bob
Saunders and Irv Bailey.
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