Investors are always looking for the next big thing.
Tim Keating gave his best pitch Wednesday night to convince 40 Richmonders that his startup is worth their shekels.
Keating is CEO of Keating Capital, a Denver-based private equity fund that invests only in pre-IPO companies. Keating looks for private companies that are on the verge of a public offering, buys a small stake and hopes the IPO goes off with a bang.
“Buy privately. Sell publicly. Capture the difference,” Keating said of the fund’s philosophy.
Keating started the fund in early 2010. It has grown to about $50 million with 2,000 investors. The fund has made investments in seven private companies, one of which has gone public. Two others have filed for an IPO.
Keating is working toward its own IPO planned for the end of 2011.
The event was at the Richmond Marriott and was put on by Carl Johnson, president of NBI Advisors. NBI is a division of Allied Beacon Partners Inc., one of many brokers across the country that has a relationship with Keating to find investors for its fund.
Keating said his fund specifically looks for companies with a minimum of $10 million in annual revenue and that have a public listing expected within 18 months of his firm’s investment.
The fund has been heavy into clean-technology companies. It has made investments of up to $2.5 million in two solar companies, a plastic recycler, an algal-biofuel firm and a company that makes high-tech smart-pens.
Keating travels across the country giving presentations to potential investors. Johnson first heard Keating speak at a presentation in Williamsburg and thought there might be some interest among Richmond investors.
“That’s how a lot of people raise money,” Johnson said, adding that the event was a success from an attendance standpoint.
“Now we have to get people to invest,” said Johnson, who gets a percentage cut from each investment he brings to Keating.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].
Investors are always looking for the next big thing.
Tim Keating gave his best pitch Wednesday night to convince 40 Richmonders that his startup is worth their shekels.
Keating is CEO of Keating Capital, a Denver-based private equity fund that invests only in pre-IPO companies. Keating looks for private companies that are on the verge of a public offering, buys a small stake and hopes the IPO goes off with a bang.
“Buy privately. Sell publicly. Capture the difference,” Keating said of the fund’s philosophy.
Keating started the fund in early 2010. It has grown to about $50 million with 2,000 investors. The fund has made investments in seven private companies, one of which has gone public. Two others have filed for an IPO.
Keating is working toward its own IPO planned for the end of 2011.
The event was at the Richmond Marriott and was put on by Carl Johnson, president of NBI Advisors. NBI is a division of Allied Beacon Partners Inc., one of many brokers across the country that has a relationship with Keating to find investors for its fund.
Keating said his fund specifically looks for companies with a minimum of $10 million in annual revenue and that have a public listing expected within 18 months of his firm’s investment.
The fund has been heavy into clean-technology companies. It has made investments of up to $2.5 million in two solar companies, a plastic recycler, an algal-biofuel firm and a company that makes high-tech smart-pens.
Keating travels across the country giving presentations to potential investors. Johnson first heard Keating speak at a presentation in Williamsburg and thought there might be some interest among Richmond investors.
“That’s how a lot of people raise money,” Johnson said, adding that the event was a success from an attendance standpoint.
“Now we have to get people to invest,” said Johnson, who gets a percentage cut from each investment he brings to Keating.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].