Al Shugart International Announces Closure of Shugart Venture Fund 2; Firm Continues to Look for Fun and Interesting Investments and a Diverse Portfolio of 'Good People'

Business Wire, May 24, 2000

Business Editors

CUPERTINO, Calif.--(BUSINESS WIRE)--May 24, 2000

Al Shugart International (ASI), a resource center focused on helping entrepreneurs launch new enterprises and growing small companies into big companies, announced today the closure of Shugart Venture Fund 2. Because ASI is first and foremost a resource center, the Shugart Venture Funds are not only a source of money, but also offer early stage businesses the opportunity to draw on the wisdom, experience, and vast network of business and personal contacts amassed by Al Shugart and his staff over years of building and financing businesses.

"One thing that stands out about our investments is diversity," said Jon van Bronkhorst, executive vice president of ASI and General Manager of the Shugart Venture Fund. "We don't just stick to one market. Basically, we look for a strong core team of people, a unique idea or technology, and a logical business model. And last, but certainly not least, we're looking for ideas that are fun and interesting. Because if you don't love what you do, you shouldn't be doing it."

"Jon continues to do an outstanding job of searching out fun and interesting companies, and to help build and guide these companies to become stronger and more competitive in the marketplace," notes Al Shugart, president and CEO of ASI. "Our goal is to be an ally to new businesses, and with our second venture fund we look forward to new partnerships with more good ideas, good companies and good people."

Previous Shugart Venture Fund investments include eCongo.com, a free e-commerce engine (www.econgo.com); n&k Technology, Inc., thin film characterization (www.nankd.com); PlanetFX, Inc., a Virtual Amusement Park(TM) (www.planetfx.com); Spinway Inc., internet advertising solutions and free ISP provider (www.spinway.com); Tranxition Corp., computer personality migration solutions (www.tranxition.com); United States TeleMed Corp., interactive video communication services for the healthcare industry (www.ustelemed.com); Vpacket Communications, Inc., voice networking solutions (www.vpacket.com); and YY Software Corp., natural communications e-mail autoresponse (www.yy.com).

About Al Shugart International

Al Shugart International (ASI) is a startup resource company focused on helping entrepreneurs launch new enterprises, and growing small companies into big companies. ASI provides many forms of assistance to entrepreneurs, either directly or indirectly, including investment, management, public relations, human resources, and financial services. Founded by Al Shugart in 1998, ASI's objectives are to maintain active worldwide awareness of technology status and trends, assist entrepreneurial companies with consulting and/or investment, manage a startup/early stage venture capital fund, and operate as a holding company for implementing ideas. ASI is headquartered in Santa Cruz, California, and also has an office in the heart of Silicon Valley. More information about Al Shugart International can be found on the World Wide Web at www.alshugart.com.