Geneva, June 22, 2000
Nascendo Announces a New Acquisition
Nascendo has announced acquiring an
interest in TCI Network SA (TCI), the first European Internet
portal dedicated to professional asset managers and private investment
advisors. The TCI portal will provide an Internet Suite, products
and services targeting the needs of asset management advisors
(AMAs) in France and Europe. TCI, an Irish company with offices
in Paris, was founded in February 2000. They currently employ
The Suite will offer a personalized
Internet environment, professional space, client space, reference
library and a platform for professional performance analysis.
AMAs will also be offered exclusive multi-institutional products
including life insurance and credit products, specialized policies
for smokers and non-smokers, property related products and securities
portfolios. The range of services will include selective insurance,
banking, investment, auditing, marketing and network support services.
TCI's target audience is made up of more than 4,000 professionals,
and six to seven hundred AMAs. The growth potential is significant,
and will increase with the planned opening of the portal to the
public at large in 2001.
TCI's managing partners are each well
recognized in their respective fields of investment banking, corporate
law and information technology, and their solid reputations have
attracted numerous high level institutions. They are currently
raising €1.2 million in their first round of financing, and will
have a post valuation of €40 million. Nascent owns 5% of the company.
As an incubator for top-flight entrepreneurs
in the IT world, Nascendo secures funding for, invests in and
advises European Internet start-ups. Nascendo is managed by directors
who are closely connected to the financial world and who have
an in depth knowledge of the Internet.