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MINDING YOUR
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RED TO BLACK By Mike Ashley |
The aftermath of the
Cold War has now turned into a Red-hot investment
idea. Global Partner Ventures of Richmond, a private equity-fund management company, is soliciting investors for its Defense Enterprise Fund, which is pumping venture capital into the former Soviet republics of Russia, Ukraine, Kazakhstan and Belarus. The fund originated with a grant from the U.S. Department of Defense and is engaged in the formation of several funds to capitalize on investment opportunities in the Russian economy. Global Partner Ventures was formed in February 1998 as a management umbrella over the Defense Enterprise Fund and related projects. |
 artwork by Chris OBrion |
Our
strategy is to combine the best of the human and
technological potential of the [newly independent
states] with the marketing and management
strength of experienced Western partners,"
says John Nowell, president and CEO of the
Defense Enterprise Fund. The fund manages $70 million in assets and expects to soon reach a total capitalization goal of $72 million. Projects include modernization of communications networks and investments in metals and circuit board technology. At the same time, the fund is creating jobs in Russia and using resources that once were part of the country's military machine. |
| Nowell, fluent in Russian, was a
pioneer in management of direct equity
investments in the newly independent states
through his past presidency of Pioneer Metals
International, which had holdings in Russia. The
fund continues to maintain strong ties with
former Russian military officers and
U.S.-educated Russian analysts. "The fund follows a traditional venture capital approach [in] structuring and monitoring investments," says Reynolds Metals Vice President Randy Reynolds, chairman of the Defense Enterprise Fund. "We take a very hands-on approach, combining the strengths of Eastern and Western partners to create a successful business."
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