Friday, 27 February 2015
Last updated 42 min ago
Mar 18 2010 | 9:46am ET
A Silicon Valley technology hedge fund is investing in a very specific sort of technology.
Palo Alto Investors’ micro-cap fund invests “exclusively” in “overlooked, misunderstood and undervalued segments of the equity market.” One of those segments, apparently, is the sex toy industry.
The $1.5 billion firm is among a group of Silicon Valley investors to pour $2 million into JimmyJane, which makes high-end vibrators, Private Equity Week reports.
“There is a big brand vacuum and nowhere is brand more relevant than here,” JimmyJane founder Ethan Imboden told PEW. “This is a multi-billion dollar market.”
Imboden, who studied electrical engineering and genetics, said JimmyJane holds several patents, including on technology that makes its latest model—called the “Form 6”—both waterproof and rechargeable.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…