Monday, 4 May 2015
Last updated 1 hour 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…