For Immediate Release
Contact: Joshua Morby
Mobile: 414.791.9120
Email: media@thenewnorth.com
NEW Capital will Concentrate Investment on New North Region
Appleton, January 16, 2006 – Building on the success of the launch of the New North brand for Northeast Wisconsin, the board of directors of New North, Inc. is excited to announce their partnership with NEW Capital Fund, LP, a private equity limited partnership with nearly $10 million dollars of capitol committed for investment in the New North region. Fund managers intend to target approximately 12 businesses within the next five years, with investments of up to $1 million per venture.
“Building on the resources and success we have in the New North is an important component to our success as a region,” said Bob DeKoch, co-chair of New North, Inc. “This fund will help provide the muscle to move business plans forward, with the ultimate goal of growing economic development for our region.”
“We’re excited about the support and cooperation we have seen as we’ve moved forward with our regional economic development model,” said Kathi Seifert the other co-chair of New North, Inc. “It’s important that we as a region not only share the common goal of growing the region’s economic capacity, but we have the support and resources to invest in our region. The announcement of funds such as the NEW Capital Fund illustrates not only the fiscal capital this region has, but the presence and importance of intellectual capital that makes this region north of what you expect.”
DeKoch and Seifert serve as the co-chairs of New North, Inc. a collation of leaders from an 18 counties region that includes Outagamie, Winnebago, Calumet, Waupaca, Brown, Shawano, Oconto, Marinette, Door, Kewaunee, Sheboygan, Manitowoc, Fond du Lac, Green Lake, Marquette, Florence, Menominee, and Waushara. The NEW Capital Fund has 75 investors most of whom live and work in the New North.
For more information about the fund, or to find out more about the New North, please visit our website at www.thenewnorth.com.
