Last time we spoke about the opportunity of investing in Genesis Ventures, you encouraged me to keep you informed on our progress. I am happy to inform you that we have secured France Telecom (and some of their investment affiliates) as a lead investor in Genesis. Their joint investment will cover approximately 60% of our anticipated goal of $25MM for a first closing.
As mentioned to you in our meeting at your office, we have the personal support of Leo Hindery – President of TCI – who has committed to invest and is “encouraging” some of his relationships to come into this as well.
I am including a copy of the latest PPM and would be delighted to talk more should you have any questions.
Source: Michael Spindler