Masters Capital Management, LLC ("Masters Capital") and Wilbur L. Ross, Jr. have formed a partnership that will focus on investments in early-, mid- and late-stage companies employing nanotechnology- enabled products and solutions.
Mel P. Melsheimer, former President at venture capital firm Harris & Harris Group, Inc., together with Michael L. Collett from Masters Capital will serve as Managing Members and Managing Directors of the new partnership. Michael W. Masters, who organized Masters Capital in 1994 and Wilbur L. Ross, Jr., serving as a non-voting member, will join Mr. Melsheimer and Mr. Collett on the partnership's Investment Committee. The partnership will be headquartered in Chicago with offices in Virginia and, in the near future, on the West Coast.
The partnership will leverage the prior nanotechnology investment experience of Mr. Melsheimer and Masters Capital. The strategic relationship with Mr. Ross will provide access to his deal flow and global relationships, and strengthen his strategic interest in the application of nanotechnology- enabled products to mature product industries.
Mel P. Melsheimer brings to the partnership over 40 years of senior executive operating background, including experience as CEO, COO, and CFO in a wide variety of industries as well as 10 years of venture capital experience. During his tenure at Harris & Harris Group, Mr. Melsheimer participated in 40 venture capital investments. As President of Harris & Harris Group since 1997, Mr. Melsheimer was directly involved in making 17 nanotechnology investments. Mr. Melsheimer will operate from the Virginia office.
Michael L. Collett brings strong experience investing in private and public nanotechnology companies over the last four years at Masters Capital. Mr. Collett led all venture capital and PIPE investing at Masters Capital. He currently serves on the Board of Directors of Nano-Tex, of Emeryville, CA, a leading fabric innovation company providing nanotechnology-based textile enhancements to the apparel and interior furnishings markets. Mr. Collett has over 10 years of deal experience, including Vice President in Merrill Lynch's Middle-Market M&A group. Mr. Collett will operate out of the Chicago office.
Michael W. Masters is Portfolio Manager of Masters Capital Management, LLC. Masters Capital is a global investment management firm that trades and invests in public and private domestic and international bonds and equities. In 1994, Mr. Masters organized Masters Capital and became its general partner and President. Masters Capital currently manages a family of alternative assets, and is based in St. Croix, USVI.
Wilbur L. Ross, Jr. is Chairman of WL Ross & Co. LLC. The firm, with headquarters in New York City, invests globally pursuing a variety of global distressed investing strategies, including private equity, capital structure arbitrage, distressed fixed-income, distressed real estate and corporate governance strategies. WL Ross & Co. LLC was founded in April, 2000, and currently manages over $2 billion of alternative assets. Mr. Ross is also Chairman of the Board of Nano-Tex, where he serves with Mr. Collett.
Posted 24th May 2005
