Replies to post #16913 on Angel Acquisition Corp (fka AGEL)

[sphistak]

NEW YORK, NY--(Marketwire - Apr 20, 2011)
- GATE Technologies announced today the
successful closure of $3.5 million in funding
led by legendary venture capitalist John
Pappajohn. GATE plans to use the capital to
expand its market infrastructure, which
provides an end-to-end solution for buying
and selling illiquid and alternative assets.
Pappajohn will also join the GATE
Technologies executive board, providing
strategic advice and oversight as the
company continues to grow.
GATE plans to roll out additional GATE
Developing Marketplaces (GDMs) in 2011. In
November 2010, GATE launched its U.S.-
based broker-dealer subsidiary, GATE US.
In February 2011, the company launched
GATE Global Impact, providing market
infrastructure for impact investing --
investments that provide a social and/or
environmental benefit as well as a financial
return.
"We are honored to have John join our
team," said GATE Technologies co-founder
and CEO Vincent Molinari. "With his
guidance and backing, we are better
prepared to respond to growing market
demand for transparency in secondary
markets."
Pappajohn is the founder and president of
Pappajohn Capital Resources. The Des
Moines, Iowa-based firm has been involved
in the development and financing of
hundreds of companies over the last four
decades. Pappajohn's investments have
traditionally focused on the information
technology, biotechnology and
pharmaceutical sectors.
"As a lifelong venture capitalist, I pay keen
attention to the way companies evolve from
their founding to successful, thriving
enterprises," said Pappajohn. "GATE
Technologies is at the forefront of a shift
toward pre-IPO valuation transparency, and
I'm excited to be a part of this growing
trend."