[Federal Register Volume 59, Number 157 (Tuesday, August 16, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20062]
[[Page Unknown]]
[Federal Register: August 16, 1994]
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SMALL BUSINESS ADMINISTRATION
[Application No. 99000134]
Needham Capital SBIC, L.P.; Filing of an Application for a
License To Operate as a Small Business Investment Company
Notice is hereby given of the filing of an application with the
Small Business Administration (SBA) pursuant to Section 107.102 of the
Regulations governing small business investment companies (13 CFR
107.102 (1994)) by Needham Capital SBIC, L.P., 400 Park Avenue, New
York, New York 10022, for a license to operate as a small business
investment company (SBIC) under the Small Business Investment Act of
1958, as amended, (15 U.S.C. et. seq.), and the Rules and Regulations
promulgated thereunder.
The initial investors and their percent of ownership of the
Applicant are as follows:
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Percentage
Name of ownership
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General Partner:
Needham Capital Management Partners, L.P., 400 Park
Avenue, New York, NY 10022............................... 1.0%
Limited Partners:
Needham Capital Management Partners, L.P., 400 Park
Avenue, New York, NY 10022............................... 99.0% (1)
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100.0%
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(1) Needham & Company, Inc., 400 Park Avenue, New York, NY, 10022,
through its limited partnership interest in Needham Capital Partners,
L.P. owns an effective 26.4% interest in the Applicant.
Needham Capital SBIC, L.P. will be managed by Needham Capital
Management Partners, L.P. The general and limited partners of Needham
Capital Management Partners, L.P. are:
------------------------------------------------------------------------
Percentage
Name Relationship to manager ownership
of manager
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George A. Needham, 79 East General Partner.............. 0.5
79th Street, New York, NY
10021.
John C. Michaelson, 1010 General Partner.............. 0.5
Fifth Avenue, New York, NY
10028.
Needham Capital Partners, Limited Partner.............. 99.0
L.P., 400 Park Avenue, New
York, NY 10022.
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............................. 100.0
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The applicant will begin operations with capitalization of
approximately $7.5 million and will be a source of equity financings
for qualified small business concerns. The applicant will invest
primarily in the technology and life sciences businesses located in the
states of California, Massachusetts, Minnesota, and Texas.
Matters involved in SBA's consideration of the application include
the general business reputation and character of the proposed owners
and management, and the probability of successful operations of the new
company under their management, including profitability and financial
soundness in accordance with the Act and Regulations.
Notice is hereby given that any person may, not later than 15 days
from the date of publication of this Notice, submit written comments on
the proposed SBIC to the Associate Administrator for Investment, Small
Business Administration, 409 3rd Street, SW, Washington, DC 20416.
A copy of this Notice will be published in a newspaper of general
circulation in New York, New York.
(Catalog of Federal Domestic Assistance Programs No. 59.011, Small
Business Investment Companies)
Dated: August 8, 1994.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 94-20062 Filed 8-15-94; 8:45 am]
BILLING CODE 8025-01-M
