Egan-Managed Capital was formed by the Egan family with the objective of helping future entrepreneurs build significant enterprises. We seek opportunities to invest in companies where we can provide more than just capital. We look for situations where we can provide tactical and strategic assistance in areas where we have relevant knowledge.
We manage three venture capital funds - Egan-Managed Capital I, Egan-Managed Capital II, and Egan-Managed Capital III.
Egan-Managed Capital I has $42.8 million of capital and was formed in 1997. The fund made 15 investments and is fully invested or committed. These investments ranged in size from $750,000 to $5 million.
Egan-Managed Capital II has $100 million of capital and was formed in 2000. The fund has made 17 investments and is fully invested or committed. These investments ranged in size from $1 million to $6 million.
Egan-Managed Capital III has $90 million of capital and was formed in October 2003. The fund is prepared to make investments in the range of $1 million to $6 million, but our preferred initial appetite is between $2 and $3 million.
Our investments typically take the form of Convertible Preferred Stock with the traditional protections afforded institutional investors like us. These include Registration Rights, Voting Agreements, etc. Since providing assistance to our portfolio companies is such an important part of our investment philosophy, we nearly always require a board seat. We find that by being an active member of the Board of Directors we are in a position to share our insights and participate in the strategic direction of the Company.