Chicago, IL -- (SBWIRE) -- 12/13/2005 -- InStadium, Inc., announced today that it has closed a $5 million round of private financing. The company will use the funds to continue rapidly expanding its portfolio of exclusive media rights and relationships with a growing list of world class sports teams and venues, presently including 19 MLB, 9 NFL, and 2 NCAA teams.
Hopewell Ventures of Chicago led the round of financing, which also included a significant investment from TGap Ventures, LLC, H & Q Investments, the Notre Dame Irish Angels affiliated Abdo/Riley Fish Taco Fund, as well as several private investors. William Sutter, Jr. of Hopewell Ventures and Peter Farner of TGap Ventures, will join the board of directors of InStadium.
“We are excited about becoming equity partners this progressive sports media company,” said Sutter. “We believe InStadium’s advertising platform and premier venue partnerships create one of the most powerful forms of outreach available within the sports marketing world.”
“The entire InStadium team is delighted to have Hopewell Ventures, TGap Ventures, H & Q Investments, the Fish Taco Fund, and our private investors, as our partners in our effort to create a revolutionary sports marketing and advertising company,” said Barrett Davie, CEO of InStadium. “With this new round of investment, we have gained experienced and hands-on financial partners, an asset that will help to strengthen and shape InStadium’s business model. This successful round adds to our momentum and reflects the strong and growing reach and brand presence of InStadium’s unique media platform. We are looking forward to years of partnership and growth.”
InStadium leverages exclusive media rights and relationships with a growing list of world class teams and venues, presently including 19 MLB, 9 NFL, and 2 NCAA teams, to generate high value, emotionally charged and high captive game-day advertising and promotional events for clients. The Company’s national platform currently includes 21 of the top advertising markets in the U.S., including 16 of the Top 25 DMA’s. The company has grown from one venue – U.S. Cellular Field (Chicago White Sox) to a current stable of 30 premiere sports stadiums in just 3 years – and has almost unlimited future expansion possibilities in markets in the US and around the world. Currently, InStadium’s core signage yields an amazing 150,000,000+ total impressions per year. Harnessing the excitement of game-day events at our partner venues, InStadium’s unique approach leverages place-based media along with inventive promotions and its venue partners’ inventory assets to capture high-income sports fans.
About Hopewell Ventures
Hopewell Ventures provides equity capital and strategic expertise to high-growth businesses, primarily in the Midwest. The principals have more than 80 years of experience investing in and growing Midwestern companies. With offices in Chicago and Peoria, and extensive networks throughout the Midwest, Hopewell Ventures is well positioned to demonstrate that attractive investment opportunities exist in unlikely places.
About TGap Ventures
TGap Ventures, LLC is a venture capital firm with headquarters in Western Michigan. The firm's general partners, Jack Ahrens and Pete Farner, have been involved in over 75 growth companies since 1979. They have functioned as lead investor, CEO or senior executive with many of these companies. TGap Ventures focuses primarily on early-stage investments throughout the Midwest, including medical devices, software, specialty manufacturing, Internet, telecommunications, health-care, and other high growth companies.
About H & Q Investments
HQ Investors is a unit of Health Quest Group. With offices in South Bend, Indiana, and Austin, Texas, HQ Investors was founded to provide growth capital and management expertise to private firms utilizing technology to transform their market or industry. Recent portfolio investments include WineSource.com of South Bend, Indiana; TGap Ventures of Kalamazoo, Michigan; Vieo, Inc. of Austin, Texas; and MinuteClinics of Minneapolis, Minnesota. The principals of this firm have decades of experience in developing and building successful companies in a wide range of industries.
About the Fish Taco Fund
Part of the Irish Angels Network through the University of Notre Dame, the Fish Taco Fund is an off-campus first-idea investment fund lead by Larry Abdo and John Riley. They are committed to helping students and alumni achieve their entrepreneur goals. Their involvement in this round of financing represents the very first investment made out of the fund.