Lookout Capital Announces Creation of Lookout Ventures
New Division of Firm Will Provide Capital And Services For Seed and Early Stage Opportunities
Through A Differentiated Model
Raleigh, NC—September 25, 2013: Lookout Capital, a Raleigh, NC-based provider of growth capital and services, announces the creation of Lookout Ventures as a vehicle to nurture, invest in and work with seed & early stage companies. The new division is part of Lookout Capital's platform expansion to include seed & early stage investments on one end of its investment spectrum and buyout & controlling interest investments on the other end of the spectrum.
Lookout Ventures will focus on investing in and working with North Carolina-based companies from conception up to $2 million in revenues. Initial investments will predominantly range from $250,000 to $1 million with the potential for follow-on investment from Lookout Capital of up to $5 million or more as warranted. The firm anticipates that most, if not all, Lookout Ventures deals will feature Lookout as the sole or lead investor.
The division will adhere to Lookout Capital's principles of collaboration with portfolio companies, including having the firm's team members serve in short-term executive and consulting roles as a condition of investment. Lookout will also hold a substantial ownership stake in each company as well as a significant presence on each Board of Directors. Lookout Ventures will additionally leverage and involve the Lookout Capital syndicate of over 60 staff, investors and advisors.
Lookout Ventures will be headed by Walt Clarke, whose title is Director of Lookout Ventures. Clarke is a successful entrepreneur who co-founded and built MedThink, a Raleigh-based healthcare marketing and communications agency, into a 70-plus person firm with annual revenues in excess of $17 million within six years of inception. Clarke will manage the daily operations of the division in identifying investment and company creation opportunities as well as serving in interim executive level positions post-investment.
"I am very excited to have the opportunity to join the Lookout Capital team and to lead the Lookout Ventures part of the firm's platform," commented Clarke. "I have a passion to work with early stage companies and entrepreneurs. Hopefully, I can leverage my startup and company-building experience to help these companies realize success."
"Walt Clarke is a tremendous addition to our team. He is a proven founder and executive whose outlook, approach, and capabilities will be of incredible value to entrepreneurs," said W. Merrette Moore, Managing Director of Lookout Capital, in a statement. "We feel very fortunate to have someone of Walt's caliber leading the charge and look forward to utilizing our platform to make this a success."
Lookout Ventures will concentrate its investment geography on opportunities in North Carolina, with a particular focus on the Triangle area as well as other entrepreneurial hotbeds in the state. The division will be largely industry agnostic, but will concentrate on identifying and nurturing opportunities featuring proprietary technology or products. Lookout Ventures will consider existing startups, in addition to concepts developed within Lookout Capital, and will collaborate with partners to spin out technologies and products from their organizations.
Lookout Ventures is differentiated from other seed and early stage organizations by its comprehensive capabilities. These capabilities include access to meaningful capital, an unparalleled team of successful entrepreneurs, executives and businesspeople, a model of value-add involvement, and a platform that can provide a full range of startup-to-exit services. No other firm or organization in North Carolina can provide the breadth and depth that Lookout Ventures and Lookout Capital can.
"Lookout Ventures is the outcome of the growing early stage market opportunity in North Carolina, Lookout Capital's increasing access to capital, and our team's ability to execute on our differentiated model," observed Moore. "That model, along with our relationships and competencies, uniquely position us for success in the seed and early stage."
About Lookout Ventures: Lookout Ventures is a division of Lookout Capital designed to create, invest in and work with seed & early stage companies. The division focuses on North Carolina-based companies from conception up to $2 million in revenues. Lookout Ventures is distinguished by its comprehensive capabilities, including access to meaningful capital, an unparalleled team of successful entrepreneurs, executives and businesspeople, a model of value-add involvement, and a platform that can provide a full range of startup-to-exit services.
About Lookout Capital: Lookout Capital is a Raleigh, NC-based firm that provides growth and services to companies primarily in the Raleigh-Durham area and throughout North Carolina. The firm addresses a niche historically and currently underserved by the capital markets. Lookout leverages its high caliber network of investors and advisors as well as its unique investment model in establishing the premier growth capital investment management platform in North Carolina.
For More Information on Lookout Ventures and Lookout Capital: Please visit www.lookoutcapital.com
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