DUBAI, UAE, November 21, 2008
/24-7PressRelease/ -- While the biggest of financial institutions sit with their hands out to the government, many of the more forward thinking independent firms are taking advantage. Midas International of Dubai announced today that it is actively seeking venture capital opportunities. Through conventional in-house VC agreements and a series of recently closed Private Placement Offerings, the firm has raised in excess of 45 million euro in the last 90 days. "We are having deals come to us that frankly would have gone to bigger name firms just a few months ago" said Christopher Clarke, Midas International's CEO since 2007. "We didn't get caught up in the feeding frenzy of borrowing to make risky investments that has left so many other firms crippled. We have cash; a lot of our client have cash, and right now there are incredible opportunities."
With major investment banks hoarding what little available cash they have on hand many small companies are feeling the pinch. Midas has recently completed deals with a pair of upstart Biotech firms, a manufacture of fuel-efficient, urban oriented delivery vehicles and a property development fund. These companies all had been courted by major and mid major investment banks, who dragged their feet as the credit crisis developed in early September. "Innovations haven't stopped, hopefully the funding for these companies, many of whom have products and concepts they have been developing for years won't stop either," a spokesman for Midas said.
Midas International has committed to continue their infusion of capital into small and mid-sized businesses through 2009. The company has several ventures set for the upcoming months and is actively looking at deals in the months to come. The company is looking primarily at emerging technology offerings, but also interested in more traditional avenues such as food services and consumables.
For more information about Midas International please visit their website at http://www.midasworldwide.com.
About Midas International FZE
Midas International, FZE (http://www.midasworldwide.com) is an investment banking, financial consulting and brokerage firm offering investment solutions, asset allocation strategies and analysis on equities and fixed income securities. The Dubai based investment firm has satellite offices in Hong Kong, London and Sydney.
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