His decision to start Lewis & Clarkson coincided with the growth of Minority Enterprise Small Business Investment Cos., known as MESBICs
, which directed a mix of private and public venture capital to minority entrepreneurs.
or lending three dollars for every one that the MESBIC
put into the
Simeus wouldn't discuss its specific terms, but as part of the deal, MESBIC
can purchase up to 65% of the stock if the company goes public.
Donald Lawhorne is president of Dallas-based MESBIC
Ventures Holding Co., one of the largest SSBICs in the country with a diverse group of corporate shareholders including NationsBank, Sears Roebuck, Xerox and Mobil Oil.
These venture capital firms (formerly called MESBICs
, or minority enterprise small business investment companies) enjoy federal interest-rate subsidies and lend venture capital to both new and established small minority firms.
's $5 million pool is the result of a 4-to-1 match of federal dollars to private capital raised locally.
The commerce secretary publicly promised to gain commitments for one hundred MESBICs
by June 30, 1970, and he succeeded.(81) Landing commitments was one thing; breathing life into these hideously-named creatures was quite another.
The first Minority Enterprise Small Business Investment Corporations (MESBICs
), which provide millions in venture capital to minority start-up companies, are chartered.
Price, the former president of the National Association of Investment Corp., brought Specialized Small Business Investment Companies (SBICs), formerly called MESBICS
, onto the nation's agenda.
About 130 active SSBICs (formerly known as Minority Enterprise SBICs, or MESBICs
) across the country provide venture capital to small minority-owned firms, both new and established.
Eighteen months after Douglas started hunting for venture capital, he received funding from four minority enterprise small business investment companies (MESBICs
The NAIC, formerly known as the American Association of MESBICs
(minority enterprise small business investment companies), offers a copy of its membership directory of approximately 150 venture capital firms, at a cost of $5.00.