Investment Summary

Gemini Investors and Spring Lake Equity Partners Invest In Art Technology Group

On September 28, 1998, private equity firm Gemini Investors and venture capital firm Spring Lake Equity Partners invested in software company Art Technology Group for 8M USD

Investment Highlights
  • This is Gemini Investors’ 2nd and Spring Lake Equity Partners’ 1st transaction in the Software sector.
  • This is Gemini Investors’ 3rd and Spring Lake Equity Partners’ largest (disclosed) transaction.
  • This is Gemini Investors’ 2nd and Spring Lake Equity Partners’ 1st transaction in the United States.
  • This is Gemini Investors’ 2nd and Spring Lake Equity Partners’ 1st transaction in Massachusetts.
Investment Fate
  • Art Technology Group was sold to a publicly-traded strategic buyer in 2010 for 1.0B USD.

Investment Summary

Date 1998-09-28
Target Art Technology Group
Sector Software
Investor(s) Gemini Investors
Spring Lake Equity Partners
Deal Type Venture
Deal Value 8M USD

Target

Art Technology Group

Cambridge, Massachusetts, United States
Art Technology Group, Inc. has developed and markets software which provides a wide range of e-commerce functionality.

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Investor(S) 2

Investor

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 2 of 96
Sector (Software) 2 of 9
Type (Venture) 1 of 2
State (Massachusetts) 2 of 9
Country (United States) 2 of 96
Year (1998) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1994-01-01 Webhire

Lexington, Massachusetts, United States

Webhire is a provider of end-to-end recruiting solutions that help employers use the web to quickly and cost-effectively connect with job-seekers and efficiently manage the hiring process.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-11-18 ACT Teleconferencing

Lakewood, Colorado, United States

ACT Conferencing is a provider of integrated conferencing solutions.

Buy -
DESCRIPTION

Spring Lake Equity Partners is a private venture capital firm focused on later-stage technology company investments. The Firm looks to invest $7 to $15 million in growth-oriented companies with up to $100 million in revenue. Specific areas of interest include software, digital media, mobile, data center infrastructure, healthcare IT, and business/financial services. Spring Lake Equity was formed in 2013 after spinning-off from Tudor Investment Corporation. The Firm is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 26
Sector (Software) 1 of 8
Type (Venture) 1 of 20
State (Massachusetts) 1 of 5
Country (United States) 1 of 25
Year (1998) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-09-01 Classic Sports Network

New York, New York, United States

ESPN Classic is a sports channel that features reruns of famous sporting events, sports documentaries, and sports themed movies. Such programs includes biographies of famous sports figures or a rerun of a famous World Series or Super Bowl, often with added commentary on the event.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-10-01 Wired Ventures

San Francisco, California, United States

Wired Ventures creates a range of dynamic online products that help people put emerging technologies to use in their personal and professional lives.

Sell -