Funk Ventures continues on Wellness Path, Invests in CoolSystems and Surfparks
Funk Ventures continues to pursue opportunities in the wellness space, positioning itself as one of the premier wellness investors in the country.
Canoga Park, CA (PRWEB) May 23, 2005 -- Funk Ventures Capital Partners
(“FVCP”), the venture capital unit of Funk Ventures, continues to aggressively
pursue opportunities in the wellness space, as evidenced by its two most recent
investments, CoolSystems, Inc. and Surfparks Holdings, LLC. FVCP participated in
CoolSystem’s most recent round of financing in February ‘05 and just closed its
investment in Surfparks Holdings’ seed round earlier this month.
“Our
entire team is extremely passionate about the wellness sector, personally as
well as professionally”, says Andy J. Funk, Managing Director of FVCP. “These
days, we are pursuing wellness opportunities ranging from medical devices, life
sciences and alternative medicine to quality of life, sustainable living and
green technologies”.
CoolSystem’s sports injury device, for instance,
employs patented technology originally developed for NASA to simultaneously
deliver cold therapy and intermittent compression to accelerate the body's
natural healing process, allowing athletes and active people to recover from
sports injuries in half the normal time. Recently rated the #1 product to watch
in 2005 by Inc Magazine, GameReady is the most effective soft tissue injury
treatment system available in the marketplace today.
“Our technology
bridges the medical device and consumer product marketplaces, so we looked for a
venture partner with expertise in both of those arenas", says Tom Oliver, CEO of
CoolSystems, formerly of PowerBar. "With its diverse approach to wellness and
healthcare, Funk Ventures has proven to be a perfect fit for our
company”.
No less exciting than CoolSystems is Surfparks, the company
developing the first wave pool facility built specifically for surfing and
bodyboarding to accommodate all levels of wave-riding enthusiasts. $3 million in
construction financing and over $6 million in venture funding was secured last
week, with FVCP and Ron Jon Worldwide leading the venture round. The Ron Jon
Surfpark will be an anchor attraction at Festival Bay Mall, located on
International Drive in the heart of Orlando, Florida’s entertainment district.
Construction of the first Surfpark is expected to begin this summer, with a
grand opening planned for mid 2006.
“Given Funk Ventures’ expertise in
venture capital and real estate investing, Surfparks has become a great platform
to build our relationship with them”, says Jamie Meiselman, CEO and Founder of
Surfparks. “We are looking forward to rolling out additional facilities and hope
to keep Funk Ventures as an active investor”.
About Funk Ventures
Funk
Ventures is a multi-faceted investment firm headquartered in Los Angeles,
California. The firm’s diversified business segments span from venture capital
to investment banking and real estate. The firm’s venture capital arm, which
makes value-add investments in promising companies in the wellness space, is
complemented by an investment banking unit which provides access to outside
capital to private and emerging companies. Funk Ventures is also actively
involved in developing and investing in real estate, with a focus on resort
destinations and sustainable living communities. For more information, visit www.funkventures.com or
call (818) 716-0413. Funk Ventures is a registered trademark of Funk Ventures,
Inc.
About CoolSystems
CoolSystems, Inc. was born out of a
revolutionary idea-that spacesuit technology can treat athletic injuries. As a
designer for NASA and inductee into the US Space Foundation's Hall of Fame, the
company’s founder helped pioneer the technology involved in controlling
temperature and pressure within a flexible garment. In 1998, the company began
working with athletes, athletic trainers, and doctors to expand his discoveries
into the realm of sports medicine. Today, the company’s GameReady device is the
most effective soft tissue injury treatment system available in the marketplace.
For more information, visit www.coolsystems.com or call (510) 559-3940.
About
Surfparks
Surfparks was formed to develop and operate the world’s first and
finest wave riding facilities utilizing proprietary technology to create perfect
surf in a pool. The company’s first facility, the Ron Jon Surfpark, is owned and
operated by Surfpark Holdings, LLC in partnership with the world’s largest surf
shop, Ron Jon Worldwide. Surfpark waves are powered by Aquatic Development Group
and Surf Pools Ltd. For more information, visit www.surfparks.com or call
908-654-7063.
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Source : http://www.prweb.com/releases/2005/5/prweb242713.htm