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Industry News

State venture fund capped

By Bloomberg
AP and Staff Reports
November 20, 2005

Oklahoma City-based Mesa Capital Partners Oklahoma announced it has closed funding for Mesa Oklahoma Growth Fund I LP.

The newly formed Oklahoma Limited Partnership will seek to make capital investments in Oklahoma-based growth companies.

Mesa Capital Partners Oklahoma LLC is the general partner of the fund and is managed by Gregory J. Edwards, W. Douglas Frans and Moritz P. Schlenzig, through their operating company, Mesa Capital Management Oklahoma LLC.

The total initial commitment for the partnership is $12 million, which is being invested by 21 Tulsa and Oklahoma City investors, including the Oklahoma Capital Investment Board.

"Oklahoma needs this type of equity partnership providing venture capital to promising industries," Edwards said. "We believe we have the expertise to be successful with this fund, and we are gratified that our investors feel the same way.

"We are especially apprecia tive of the initial help and encouragement we received from the Oklahoma Capital Investment Board, which made an early commitment to us for $3 million."

Mesa Capital Partners Oklahoma is an early-stage private equity firm that invests in small businesses with high growth potential in industries and geographic areas that are underserved by other capital providers.

The Oklahoma Capital Investment Board is the state of Oklahoma's institution for building the private venture capital industry. Since 1993, the board has supported investment in 16 venture capital funds, which in turn have attracted investment of more than $100 million to Oklahoma projects. In addition, the board has supported more than $38 million in development loans to more than 1,300 small Oklahoma companies.

For more information about Mesa Oklahoma Growth Fund I LP, call (405) 755-8448.