|FOR IMMEDIATE RELEASE||Source:|
Iowa Capital Investment Corporation (ICIC) - www.investiowa.com
Leslie Frecon, LFE Capital - 612.752.1801
Dennis Murdock, ICIC - 515-229-4548
Chip Cooper, Cimarron Capital - 319.621.2066
LFE Invests $3M in Iowa's Global ID Group
Food Safety Provider to Expand Global Agribusiness Product Line
April 17, 2008 | Des Moines, IA — Minneapolis-based venture capital investor LFE Capital has announced a $3 million investment in Fairfield, Iowa's Global ID Group. The Global ID Group is a leading provider of testing and certification for food and agricultural products.
LFE Capital is backed by the Iowa Capital Investment Corporation (ICIC), the State's venture capital development organization that works to provide Iowa entrepreneurs with improved access to venture capital.
"Global ID Group is pleased to partner with LFE Capital to further its corporate mission of supporting the production of safe, healthy and ethical food," said Ken Ross, Global ID Group CEO.
According to Mr. Ross, LFE's investment will allow the Global ID Group to accelerate growth by introducing new products and services for the global agribusiness community.
"Global ID's services address government and consumer needs for information about food quality and growing concerns about food safety and processing practices," said Leslie Frecon, LFE Capital CEO. "LFE looks forward to working with the Global ID team to expand its business world-wide."
LFE II builds on the investment strategy of the LFE Capital Fund I, L.P., to invest growth and expansion capital in the business services, consumer and health sectors. The fund emphasizes smaller middle market companies in the Midwest.
About LFE Capital
LFE Capital was founded in 1999 by Leslie Frécon and currently has two funds under management. Based in Minneapolis, LFE Capital is a private equity fund manager that provides flexible financial solutions for Midwest-based companies with strong growth prospects. www.lfecapital.com
About Iowa Capital Investment Corporation (ICIC)
The Iowa Fund of Funds is a $100 million program organized by the Iowa Capital Investment Corporation (ICIC) and professionally managed by Cimarron Capital Partners LLC. The Iowa Fund of Funds is designed to help build a professional venture capital industry to serve Iowa entrepreneurs. www.investiowa.com
About Cimarron Capital Partners LLC
Cimarron is a leading national investment management firm specializing in regional private equity. The firm serves as Fund Manager of the Iowa Fund of Funds. www.cimarroncapital.com