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NCIC Successfully Exits Two Investments voice: fax: |
NCIC SUCCESSFULLY EXITS TWO INVESTMENTS APPLIED SCIENCES
NCIC CapitalFund successfully exited its investment in Cedarville, Ohio-based
Applied Sciences, Inc. in January. Since NCIC made its investment in August
1999, "We have achieved several major milestones since NCIC CapitalFund provided their investment," according to Applied Sciences president, Max Lake. These milestones include: the construction of our pilot plant, fulfillment of commercial orders for Pyrograf® III, execution of a distribution agreement with a multi-national trading company, receipt of equity investment to fund growth and plant expansion, and creation of new jobs in Ohio." MASTERS AEROSPACE NCIC recently received the final payoff of its 1995 investment in Masters Aerospace & Systems Group, Inc. This Cincinnati-based company, founded in 1991, had its sales roots in the Boeing 777 airplane program project where it created and commercialized the Avionics Development System, ADS 3000. The ADS 3000 software is used for simulation testing of multiple backup avionics systems located on most aircraft. Although Masters Aerospace ceased operations in 1996, NCIC was able to locate a small company in Munich, Germany, which agreed to license the software from NCIC. The German company achieved success with the ADS technology and the investment was paid off in December, 2001. NCIC SUPPORTS ENTREPRENEURIAL OPPORTUNITIES INNOVEST '02 Right Around the Corner - The organizers of the INNOVEST Venture Capital Conference are once again gearing up for the annual event. INNOVEST '02 is scheduled for May 8 and 9, 2002 at the Crowne Plaza, Quaker Square in Akron, Ohio. INNOVEST affords entrepreneurs and young companies the opportunity of presenting their plans for growth to institutional and angel investors. The Ohio conference's track record of stimulating investment has been impressive. Congratulations to the I-Zone qualifers - NCIC CapitalFund would like to congratulate the ten winners of the first phase of the
NCIC SEEKING INVESTMENT OPPORTUNITIES
NCIC CapitalFund continues to look for co-investment opportunities. We consider investments in early stage technology-based companies that have a complete management team and are in markets that will support substantial growth over the next three to four years. Please feel free to contact Bob Bowman, Brian Hammond or Frank Winslow at 937-253-1777 to discuss any potential investment opportunity.
Bowman named to Board of Trustees. Bob Bowman, Vice President of NCIC CapitalFund, was recently elected to the Board of Trustees of the Leadership Dayton Alumnae Association. He will Co-Chair the Program Committee for the Board.
We welcome your comments, suggestions or an addition or change to our
mailing list, please contact: Becky Ziehler at rziehler@ncicfund.com. |