BUSINESS BRIEFS
Venture capital total: $7.6 million
Advertiser Staff and News Services
Hawai'i companies received $7.6 million in venture capital investments in the fourth quarter, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association.
Honolulu medical device maker Hoana Medical Inc. raised the most: $5.5 million.
Other companies receiving venture capital in the quarter include: InCode BioPharmacies Inc. of Lahaina, $1.4 million; AssistGuide Inc. of Kailua, $400,000; and Mobi PCS Inc. of Honolulu, $329,000.
VENTURE PACKAGE WILL BE OUTLINED
Ted Liu, director of the state Department of Business, Economic Development and Tourism, will outline Gov. Linda Lingle's package of economic initiatives Thursday at a luncheon meeting of the Hawaii Venture Capital Association.
Included in the package are several measures that would provide funding for new technology companies. Bill Spencer, HVCA president, said Hawai'i needs to bolster its ability to fund companies throughout the venture finance continuum, which starts with seed capital and moves through several stages. The state also needs strong venture capital firms that understand the needs of local companies and can help them grow, Spencer added.
The luncheon is set for 11:30 a.m. at the Plaza Club, 900 Fort St. To make a reservation, call Gail Caveney at 262-7329 or visit the HVCA Web site at www.hvca.org.
KAUAIAN IS STILL IN ACE RUNNING
Lihu'e resident Said Ghezal now has a 1-in-12 chance to win a new Ace Hardware store in a contest by the hardware retailer. The company said Ghezal advanced to the semifinals and will compete with 11 others to win the store in Houston valued at $1 million.
Ghezal was among 5,400 people who entered the contest and last week was selected as one of more than 40 state finalists. A winner is slated to be picked by Ace retailers during a convention on March 15 in Las Vegas.
