Genesis Bioventures Announces eFund Capital Management, LLC Becomes Active Investor and Financial Consultant for Strategic Development and Financing
Jun 20, 2007 6:38:00 PM
Copyright Business Wire 2007
LOS ANGELES--(BUSINESS WIRE)--
Genesis Bioventures, Inc. (OTCBB:GBIW) today announced that it entered into an Agreement with eFund Capital Management, LLC (eFund) for corporate financing and strategic development. Under the Agreement eFund will provide additional financing to the Company, advise the Company on restructuring and corporate development, and manage the Company's senior financing.
eFund Capital Management, LLC is a private equity firm dedicated to providing capital and strategic support to both public and private companies. The firm is a long-term investor that builds value by contributing financial, strategic, technical and operational resources. eFund invests in growth industries with a focus on technology, financial services and manufacturing. eFund has funded numerous start-up and turn-around companies including, among others, Force Protection, Inc. (NASDAQ: FRPT), which was valued at less than $1 million when eFund became involved and has increased its market capitalization over 500% in the last twelve months to over $1.6 billion.
"We are very pleased to be working with eFund Capital Management for our continued development and corporate financings," said Douglas C. Lane, Chairman and CEO of Genesis Bioventures. "The partners at eFund, Mr. Barrett Evans and Mr. Jeffrey Conrad, Esq., have developed outstanding success by identifying undervalued companies and providing sound strategic guidance and financial resources that unlock value for investors and shareholders worldwide."
Mr. Evans is eFund's managing partner. He began his career with Cruttenden Roth, a California regional emerging growth focused investment bank. He has significant relationships with institutional investors in private equity and debt offerings and has engaged in all facets of investment banking from private debt and equity financing to Initial Public Offerings, retail brokerage and institutional trading, Mezzanine financing and bridge capital. Mr. Evans is a graduate of the University of California, Santa Barbara.
Mr. Conrad is a securities attorney and partner in eFund. He has accumulated successful experience in all facets of investment banking including portfolio management, mergers and acquisitions, financial analysis, and legal analysis. He was formerly with Gibson, Dunn and Crutcher and Universal Pictures. Mr. Conrad is a graduate of the University of California, Los Angeles and received his Juris Doctorate degree from Loyola Law School.
"eFund's commitment to our Company is substantial. They recognize the inherent value of Genesis Bioventures in our breast cancer diagnostic business and the potential breast cancer therapeutic assets." Said Mr. Lane. "We are delighted they chose to be active investors in our Company and to add Genesis Bioventures to their portfolio of companies."
eFund previously invested in Genesis Bioventures in May in a convertible debenture and established a $10 million equity line of credit for the Company. The terms of the current agreement were not disclosed.
About eFund Capital Management, LLC
eFund Capital Management, LLC is a private equity firm dedicated to providing capital and strategic support to public and private companies. The firm is an active, long-term investor in businesses where it builds value by contributing financial, strategic, technical and operational resources. Its contributions include developing and implementing growth strategies; identifying sales opportunities; evaluating and consummating add-on acquisitions; building management teams; and raising capital. eFund makes investments targeting sustainable equity appreciation, either through control ownership or strategic minority investments. It has extensive experience with a variety of deal structures to take advantage of its flexible capital approach. Its investments range in size from $250,000 to $5 million.
