Monday, March 27, 2006

HedgeStreet Secures Funding from Norwest Venture Partners: Financial News - Yahoo! Finance

"HedgeStreet� Inc., the nation's first government-regulated online exchange for binary options and futures, today announced that it has secured $12.5 million from Norwest Venture Partners (NVP), a leading Silicon Valley venture capital firm. The funds will be used to bring new innovative products to market, increase liquidity, and accelerate customer acquisition by promoting the exchange to retail and institutional investors as well as hedge funds. This is HedgeStreet's third round of financing, bringing the company's total amount of capital raised to date to $24.9 million.

HedgeStreet and the Chicago Board Options Exchange (CBOE) also recently announced a strategic alliance for the development of new products, technology sharing, distribution, marketing and other initiatives. The alliance also includes an investment in HedgeStreet by CBOE."

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