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US Partnership Targets Information Sector
Texas-based venture capital firm Austin Ventures (AV) has announced a partnership with former Bloomberg senior exec Elisabeth DeMarse, to focus on 'acquiring and/or developing growth companies in the information services market'. AV's previous investments include Intelliquest, which was acquired by Millward Brown.
The new company, DeMarseCo, Inc., will have DeMarse as CEO and will be headquartered in New York City. AV plans to invest up to $50 million of equity capital 'to support management's strategy to build a leading information services company through both organic growth and acquisition'.
AV Venture Partner Phil Siegel says the aim is 'to pursue the acquisition and/or development of a leading company in the media, syndicated data and information space'.
DeMarse's senior management roles have included Bankrate, Hoovers, Bloomberg L.P., and Citibank. Most recently, she served as President and CEO of Bankrate and oversaw an increase in its market capitalisation from $12 million at her hiring to $300 million in three years. In her ten years at Bloomberg L.P. During her tenure, she created and negotiated over 20 major deals and new business ventures, helping to re-define Bloomberg's brand beyond financial services to include a broader range of media offerings. She is a graduate of the Harvard Business School and Wellesley College, and a member of The Committee of 200.
DeMarse says the venture is 'well-positioned to rapidly assess a range of attractive options and execute a successful growth strategy. We're interested in working with existing companies and entrepreneurs that have developed mission-critical information products serving rapidly growing markets. Our efforts will place particular emphasis on identifying opportunities that leverage proprietary information, data and processes to develop predictable and growing subscription-based revenue with significant gross margin leverage.'
DeMarseCo, Inc. is online at www.demarseco.com
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