Posted at 10:48 a.m., Thursday, January 30, 2003
Venture fund to invest in Isle small business
Advertiser Staff
City Bank has established a venture fund intended to invest in Hawai'i small businesses looking for capital.The bank formed CityInvestor Services, Inc. a wholly owned subsidiary of City Bank. It also established City Venture SBIC, L.P., a venture capital investment fund. City Bank will be the general partner in City Venture and CityInvestor Services will be a limited partner.
Officials for City Venture SBIC, L.P. said they intend to invest in a balanced portfolio of well-established, private companies. They are especially interested in companies in mature, stable and expanding markets that are undergoing ownership changes, need capital to expand or have leading market shares in industries that are consolidating.
The initial fund was set up with $7.5 million.
