VC Buzz - $7.5+ million in today's deals
Summary
by Mary Evelyn Arnold October 25, 1999 For the latest on cool Internet Start-Ups and their VC backers, point your browser to: The EC Company Closes First Round Of Financing PALO ALTO, Calif.--The EC Company, which offers a hosted Internet transaction exchange that provides a business to business e-commerce solution for mid-market suppliers, announced that it completed a $6.5 million financing, its first since its reorganization in late 1998. announced that it has engaged N M Rothschild & Sons as its financial advisor to assist the company with regard to possible mergers and acquisitions, and to evaluate alternatives for the raising of up to US$75 million in additional equity capital. Assistance in arranging equity capital would be subject to a separate engagement between the company and ABN AMRO Rothschild InfoCast also announced that it has completed a US$13 million private placement financing executed through C&M Capital of Helsinki, Finland in partnership with Lornic Ltd. based in Geneva, Switzerland. The companys funding comes from leading Internet investors and strategic partners Softbank, Siegel & Gale, J.C. Bradford and Incam of Dusseldorf, Germany. In this position, Morris is responsible for achieving the companys financial objectives, including venture financing and any possible initial public offering.