Strategic Stakes in Grouptrade, G-E-T.com & Medex
eVestment Company PLC
20 March 2000
The eVestment Company Plc ('eVestment')
Strategic Stakes in GroupTrade, Global Entertainment
Technology
and Medex Online
eVestment, the internet and e-commerce investment
company, is pleased to announce three recent investments
in 'B2B' businesses. It has invested £750,000 in
GroupTrade, the collective purchasing unit for 'B2B'
buying, has taken a 22.5% stake in Global Entertainment
Technology ('G-E-T.com'), the entertainment industry news
and services portal, and made a strategic investment in
Medex Online ('Medex'), the 'B2B' internet healthcare e-
commerce start up.
These investments continue eVestment's proven record of
identifying and helping to fund strong young internet and
e-commerce related businesses, particularly in the 'B2B'
areas, which its highly experienced team can help to
grow.
GroupTrade
GroupTrade (www.grouptrade.com) is a new internet based
purchasing model which could bring savings of more than
£8bn a year for British businesses. Through GroupTrade,
companies - whatever their size, location or industry -
can come together over the internet to buy from suppliers
as a powerful trading unit. Headed by Adair Turner, ex
Director General of the CBI, as non-executive Chairman,
GroupTrade expects to reduce participating companies'
operating costs by between 10-25%.
eVestment's investment is part of a £5 million funding
recently announced by GroupTrade. Other investors
include GE Equity and London Merchant Securities.
Global Entertainment Technology
GET (www.G-E-T.com) will provide news and a services
search facility for four of the major segments of the
entertainment industry: Band Touring; Conferences;
Broadcast and Film. The search facility will enable
professionals and organisations to find hire services,
crews, jobs, used gear, and will include an auction
facility.
Registration will be free to users who want to access the
products and services. A fee will be charged for users
who wish to offer their products and services on the
site.
G-E-T.com will focus initially on the UK and US. It is
intended that the service will subsequently be rolled
out, on a franchised basis, across Europe and Asia.
Medex Online
Medex Online (www.medexonline.com), is designed to become
Europe's leading online medical marketplace and web-based
e-commerce service for the global medical and healthcare
market. The medical and healthcare sector is recognised
as one of the fastest growing industries and Medex will
be well-positioned to capitalise on the impact of
evolving internet technology in this marketplace.
A team with extensive experience in the key areas has
been assembled to facilitate trade between buyers and
suppliers of medical and healthcare products and
services. Medex will build a web-based online community
and marketplace that enables all users to access
information easily from their PC.
Chris Roberts, eVestment Chief Executive, commented:
'The 'B2B' environment is continually developing, and we
believe that GroupTrade, G-E-T.com and Medex will play a
leading role in their respective industries. All of the
above sites intend to launch by the autumn of this year,
and have the advantage of early entry into the markets
thus providing the first point of contact for all firms
internationally in their search for products and
services.
'The internet revolution is still in its early stages.
The earliest quoted accelerator fund, eVestment, has a
very experienced and growing team well positioned to take
advantage of the huge opportunities in this rapidly
expanding new marketplace.'
For further information, please contact:
The eVestment Company Plc 0171 937 4445
Chris Roberts
www.evestment.co.uk
Square Mile Communications 0171 601 1000
Nick Oborne or Stephanie Smart
Notes to Editors:
eVestment invests in and takes an active development role
in young internet and e-commerce related businesses.
Current investments include Educentre.com, eBop.co.uk,
The Sharepeople.com, 18Global.com, iDefense.com,
Kapok.com, Stargig.com, Easier.co.uk, Wave.com,
CallServe.com, WinWin.com, MusicUnsigned.com and
Statpro.com. To date gameplay.com, Freecom.net and Pure
Entertainment Games (investments no longer held) and Wave
Corporation and Easier (investments still held) have
floated.
The eVestment management team, led by Oliver Vaughan,
Chairman, and Christopher Roberts, Chief Executive, has
strong investment and management experience. Oliver
Vaughan is and has been a Director of a number of
companies with a technology focus, including Redstone
Telecom and Retail Decisions. Oliver was formerly on the
Board of Internet Technology Group, before it was
acquired by Concentric.
eVestment was formed in 1997 and floated on AIM later
that year. It raised £9.8 million in December 1999 to
provide funds for further investment and a further £44m
in February 2000.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund