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Waveland Colorado Ventures reaches tax credit vesting threshold (May 2004)

MILWAUKEE, WISCONSIN - Waveland Colorado Ventures, LLC, a Colorado certified capital company ("CAPCO") has reached the 50% investment threshold mandated by the Colorado CAPCO program as a result of its recent investment in Idea! Communications Group. In September 2003, Idea! was awarded Connections Magazine's Gold Innovation Award for its ability to provide large and small businesses a single source telecommunication management solution.

Pursuant to the Colorado CAPCO Act, certified capital companies must invest 50% of the capital allocated to them within 5 years from the date of allocation. Waveland Colorado Ventures, LLC ("WCV") has met this milestone nearly 3 years ahead of the timetable established by the State of Colorado and additionally has realized the following accomplishments:

  • WCV has made six investments in small businesses located throughout the state of Colorado. In each instance the investment by WCV represented the first round of institutional capital received by the funded company.
  • Since the time of investment, top line revenue growth of the companies in which WCV has invested has grown in excess of 50%.
  • WCV has experienced one liquidity event, a pre-payment of senior debt. WCV retained warrants in the company which received a multi-million dollar pre-paid royalty for the manufacture and distribution of an airway management medical device.
  • WCV portfolio companies have created or retained approximately 50 jobs. This has occurred during the worst economic climate in Colorado since the Great Depression.
  • For every dollar WCV has invested, its portfolio companies have received approximately $2.50 in co-investment or follow-on capital.
  • For every $1 of tax incentives that the state of Colorado has provided our investors, WCV has invested $5, and when co-investment and follow on investment is included, for every $1 in tax incentives that have been granted, $16 dollars has been invested.

Waveland Ventures, LLC is a private eq

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