PaidContent.org: March 06, 2006 Archives

"New Digital Media Fund From Apax Founder [by rafat] : [by James Pearce] Alan Patricof, the co-founder of the private equity firm Apax Partners (which has $20 billion under management) and an original investor in Apple Computer and America Online, plans to announce today that he will leave Apax (although remain an advisor to the company) to start a venture capital fund for emerging wireless, media and entertainment companies. The new fund, Greycroft Partners, was limited to $50 million and high net-worth, sophisticated investors, with the idea that in will invest in small, new companies rather than gather billions together and invest in large, established companies.
From the press release: 'My recent investing experience in this sector at Apax Partners has demonstrated there are young companies with talented managers who have the ability to execute sound business plans. But their expansion is being frustrated by a shortage of available capital for early stage companies, making the investment prospects in this space very attractive,' said Patricof. 'Greycroft Partners will operate directly in this underserved niche, which I believe is poised for dramatic and rapid growth.'
Disclaimer: Apax is a sponsor on our sites. [by rafat] [Mar. 6, 06]"