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Article: Diamond State Ventures Invests in KC Again.(INERGY Partners)(Brief Article)
- Article from:
- Arkansas Business
- Article date:
- February 12, 2001
- Author:
CopyrightCOPYRIGHT 2001 Journal Publishing, 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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Diamond State Ventures, the for-profit venture capital subsidiary of Arkansas Capital Corp. of Little Rock, has joined with other venture capitalists to invest in Inergy Partners of Kansas City, Mo.
"We joined a group of venture capital funds in this region in a $17 million syndicate to provide for the merger of Inergy and Hoosier Propane," said Joe Hays, Diamond State's managing member. Inergy is a propane wholesale and retail distributor; Hoosier Propane is located in Kindleville, Ind.
Hays would not say how large Diamond State's investment was. The venture capital funding was part of a total financing package of more than $100 million for the purchase ...