WASHINGTON, D.C. – Friedman Billings Ramsey Group, a full-service investment banking and asset management firm, invests in post-seed-stage electronic commerce, telecommunications and Internet-related businesses primarily in the greater Washington, D.C., area and the Mid-Atlantic United States.
The firm closed its first venture fund, the $50 million FBR Technology Venture Partners, in late July 1998. The vehicle, launched in 1997, is about 40% invested, with 13 deals under its belt. FBR hopes to invest an average of $4 million in 17 portfolio companies over the course of the fund’s life.
The fund’s limited partners consist of successful entrepreneurs such as Jim Kimsey, America Online founder, and Bill Melton, of venture-backed technology companies Verifone Inc. and CyberCash Inc., as well as institutions, clients of the bank and high-net-worth individuals.
FBR Technology Venture Partners is overseen by Managing Directors Gene Riechers, who spent more than 16 years in senior-level positions in early-stage technology companies such as CyberCash, and Hooks Johnston, a 10-year veteran of Washington-based technology companies. The management staff is rounded out by Principals Scott Frederick, a former transaction attorney and telecommunications industry consultant, and Harry Weller, a veteran of the enterprise software systems industry.
Select Friedman Billings Ramsey portfolio companies follow:
Call Technologies Inc. (Reston, Va.) develops telecommunications software for service providers and carriers.
Co-investors include New Enterprise Associates, Columbia Capital and 21st Century Communications.
CareerBuilder Inc. (Reston, Va.) develops, markets and syndicates second generation, Internet-based recruiting solutions.
GE Capital, New Enterprise Associates, 21st Century Internet Venture Partners and Thomson Corp. are co-investors.
Entevo Corp. (Arlington, Va.) develops cross-platform directory management products for Microsoft’s Windows NT and other Local Area Network (LAN) vendor platforms.
New Enterprise Associates, Oak Investment Partners, Novak-Bidell Venture Partners and Draper India are co-investors.
IntraNetics Inc. (Boston) develops business application software that facilitates the use of functions such as employee directories, document libraries and expense reports.
Co-investors include Memorial Drive Trust (of the Arthur R. Little Foundation) and Lazard Venture Partners.
MinderSoft Inc. (Herndon, Va.) develops a database marketing system that offers personalized reminders to customers via Internet “push technology.”
Novak-Bidell, U.S. Trust and ABS Ventures are co-investors.
Network Access Solutions Inc. (Sterling, Va.) provides telecommunications equipment and services.
Spectrum Equity is a co-investor.
Pathnet Inc. (Washington, D.C.) provides low-cost, reliable communications networks.
Spectrum Equity, New Enterprise Associates, Grotech Capital and Toronto Dominion are co-investors.
Proxicom Inc. (Reston, Va.) develops software that helps businesses reengineer methods of delivering information, products and service via the Internet.
Co-investors include General Atlantic Partners and GE Capital.
Silicon Wireless Ltd. (Mountain View, Calif.) develops wireless technology for regional, national and international service providers.
Advanced Technology Ventures and Citicorp Ventures are co-investors.
webMethods Inc. (Fairfax, Va.) automates Web data in application software.
Mayfield Fund is a co-investor.
WisdomWare Inc. (Fairfax, Va.) develops mission-critical knowledge management systems in software.
Anthem Capital is a co-investor.
XYPOINT Corp. (Seattle) designs, develops and markets intelligent networks that provide enhanced 911 and other location-related services to the wireless industry.
Co-investors include Olympic Venture Partners and The Hillman Co.
Friedman Billings Ramsey is located at Potomac Tower, 1001 Nineteenth Street North, Seventh Floor, Arlington, VA 22209, tel. (703) 312-9700, fax. (703) 469-1250. The firm can be found on the Web at www.fbr.com.