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Article: Working the private equity circuit. (explanation of venture capitial funding)(includes directory of resources)(Financing Your Business)
- Article from:
- Black Enterprise
- Article date:
- November 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 Earl G. Graves Publishing Co., Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Are you a prime candidate for venture capital or other private investment backing? Here's how to get in the game.
Buyout specialist John Douglas has seen the best and the worst of private equity funding. "The first deal that I tried to put together was an acquisition of a television station in Austin, Texas," recalls the 59-year-old entrepreneur, who's based in San Francisco. "I needed $1.6 million to complete the deal so I lined up four sources of capital, with a $400,000 commitment from each one. At the last minute one of my backers got greedy, tried to squeeze me out and the whole deal fell through."
Fast forward a few years to another opportunity to ...