VCs: There is still money for good business plans

Dec. 27, 2001
December 21, 2001 Keynoter at a recent TIA venture capital forum said his group plans to up its investment by $50 million in the coming year.

he Telecommunications Industry Association's ( Ventures East conference reinforced the notion that venture capital firms do, in fact, have funding available in today's economy for companies with sound business plans.

The event, Ventures East: Winter 2001, was held on Dec. 5, in Red Bank, NJ. More than 100 people attended the forum, which brought together 23 venture capital firms and 15 presenting companies to facilitate capital acquisition and entrepreneur networking.

Attending venture capitalists expressed their belief in the continued promise and growth possibility of the communications sector and the economy as a whole. In his luncheon keynote address, Bill Cadogan, general partner, St. Paul Venture Capital, said, "Despite the market downturn, St. Paul Venture Capital is still investing and will spend $275 million in total in 2001 and plans to spend $325 million in 2002. We continue to have a strong appetite for innovative technologies."

Throughout the day, participants had the opportunity to hear information briefings, company presentations and keynote speeches, as well as take advantage of numerous networking opportunities. Presenting companies ranged from emerging technology start-ups to established companies, largely in the telecommunications arena. Venture capitalists included several East Coast-based firms and venture representatives from large technology software companies and manufacturers.

"We were pleased to provide a venue for venture capitalists that understand the communications industry and entrepreneurs seeking funding to connect," says Walter Wilowatyj, principal of Wood Walters, LLC and chairman of the TIA's Capital Formation Working Group. "The event served as a catalyst for future ventures by providing attendees with a unique opportunity to network with key players in the New Jersey high-tech and venture capital communities."

The TIA serves the communications and information technology industry. For more information contact Andy Dryden at (703) 907-7633 or email [email protected].

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