Saturday, 30 May 2015
Last updated 1 day 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…