[Federal Register Volume 59, Number 177 (Wednesday, September 14, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-22678]
[[Page Unknown]]
[Federal Register: September 14, 1994]
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SMALL BUSINESS ADMINISTRATION
[Application No. 99000129]
Novus Ventures, 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 Novus Ventures, L.P., 20111 Stevens Creek Boulevard,
Suite 130, Cupertino, California 95014 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. Novus Ventures, L.P. is a
limited partnership formed under Delaware law. Its principal area of
operation is in the San Francisco Bay area cities such as, San
Francisco, Palo Alto, Mountain View, Sunnyvale, Cupertino, Santa Clara,
San Jose, Milpitas, and Fremont. The Applicant also expects to explore
business opportunities in Southern California, and may occasionally
make investments outside the state of California. Novus Ventures, L.P.
will be managed by DT Associates, a Delaware limited partnership,
located at 20111 Stevens Creek Boulevard, Suite 130, Cupertino,
California 95014. The following limited partners will own 10 percent or
more of the proposed SBIC:
------------------------------------------------------------------------
Percentage
Name of
ownership
------------------------------------------------------------------------
Dan Tompkins............................................... 29.8
Stephen Sheafor/Cindy Lindsay.............................. 10.9
------------------------------------------------------------------------
The Applicant will begin operations with an initial capitalization
of approximately $5.1 million. The Applicant will make investments in
the field of information technology. Most investments will be in
relatively early stage companies. The Applicant may occasionally
finance start-up businesses, but generally will look for companies that
have completed the development of a product and are engaged in the
early marketing phase of the product. The Applicant will typically be
involved in the company's first round of formal venture capital
financing and will obtain a major voice in issues such as financing
terms and the makeup of the company's Board of Directors. The Applicant
will usually co-invest with other venture capital funds.
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
SBIC 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 San Francisco Bay Area of California.
(Catalog of Federal Domestic Assistance Programs No. 59.011, Small
Business Investment Companies)
Dated: September 7, 1994.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 94-22678 Filed 9-13-94; 8:45 am]
BILLING CODE 8025-01-M
