Later this week, the Tennessee Capital Formation Board will convene for the first time since the passage of Tennessee's pro-venture Tennessee Small Business Investment Company Credit Act, which will spawn up to six TN Investco's, as they're being called. Thus far, the TCFB meeting seems likely to attract dozens of VCs, all eager to know how the TN Investco program will be run by Tennessee Economic and Community Development, acting in collaboration with Tennessee Technology Development Corporation and the State Department of Revenue. In addition to widely recognized VC and private-equity firms, word is XMI Management (Xebec) is sending a representative from its XMI Capital division, which helps XMI companies do M&As, divestitures and capital financing. XMI Capital President Jim Phillips recently confirmed for VNC that XMI is interested in knowing more about the TN Investco program. XMI Management is a holding company controlled by entrepreneur Mike Shmerling (at left), who, among many other civic activities, co-chaired a local Chamber initiative to examine how to meet the need for an Entrepreneurship Center in metro Nashville. The need for such a resource was identified in 2005, and the Chamber has said it hopes to have an online presence for such a center, but not a bricks and mortar facility, up and running this fall.
Tuesday, July 21, 2009
XMI joining VC gathering?
Later this week, the Tennessee Capital Formation Board will convene for the first time since the passage of Tennessee's pro-venture Tennessee Small Business Investment Company Credit Act, which will spawn up to six TN Investco's, as they're being called. Thus far, the TCFB meeting seems likely to attract dozens of VCs, all eager to know how the TN Investco program will be run by Tennessee Economic and Community Development, acting in collaboration with Tennessee Technology Development Corporation and the State Department of Revenue. In addition to widely recognized VC and private-equity firms, word is XMI Management (Xebec) is sending a representative from its XMI Capital division, which helps XMI companies do M&As, divestitures and capital financing. XMI Capital President Jim Phillips recently confirmed for VNC that XMI is interested in knowing more about the TN Investco program. XMI Management is a holding company controlled by entrepreneur Mike Shmerling (at left), who, among many other civic activities, co-chaired a local Chamber initiative to examine how to meet the need for an Entrepreneurship Center in metro Nashville. The need for such a resource was identified in 2005, and the Chamber has said it hopes to have an online presence for such a center, but not a bricks and mortar facility, up and running this fall.
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