I am happy to formally announce my partnership with my good friend and mentor Kenny Finkelstein with Knight’s Bridge Capital Partners . It is an $80 million private equity fund. The head office is Toronto, but I will continue to scour for opportunities in Phoenix and New York as well as summers in Toronto of course. If you read this blog you know how I feel about my hometown of Toronto and the opportunities north of the border.
I met Kenny when he founded Ride snowboards and I was an early entrepreneur with The Gripp. They tried to buy our business and we unfortunately turned it down. Kenny was also one of the founders of GSI Commerce (NASD – GSIC).
We have been busy for sure . The fund is more opportunistic in it’s strategy. I anticipate 5-10 percent of the assets to be allocated towards internet angel and VC investments. I have not had the opportunity to talk much about all the activity. I will be pushing Kenny to post to the KBC blog on deal structure and turnarounds and some different topics. He is an operating and investing magician.
To keep things simple, we have also purchased the General Partner interests of my one year old fund Biltmore Ventures . The investments to date are Lifelock.com, MyTrade.com, vSocial.com, AdaptiveBlue.com and CopperKey. The Fund has been renamed as Knight’s Bridge Capital Partners Internet Fund. We will continue to make investments in the internet space with the assets in the fund.