[Federal Register Volume 59, Number 157 (Tuesday, August 16, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20062]


[[Page Unknown]]

[Federal Register: August 16, 1994]


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SMALL BUSINESS ADMINISTRATION
[Application No. 99000134]

 

Needham Capital SBIC, L.P.; Filing of an Application for a 
License To Operate as a Small Business Investment Company

    Notice is hereby given of the filing of an application with the 
Small Business Administration (SBA) pursuant to Section 107.102 of the 
Regulations governing small business investment companies (13 CFR 
107.102 (1994)) by Needham Capital SBIC, L.P., 400 Park Avenue, New 
York, New York 10022, for a license to operate as a small business 
investment company (SBIC) under the Small Business Investment Act of 
1958, as amended, (15 U.S.C. et. seq.), and the Rules and Regulations 
promulgated thereunder.
    The initial investors and their percent of ownership of the 
Applicant are as follows:

------------------------------------------------------------------------
                                                             Percentage 
                           Name                             of ownership
------------------------------------------------------------------------
General Partner:                                                        
Needham Capital Management Partners, L.P., 400 Park                     
 Avenue, New York, NY 10022...............................     1.0%     
Limited Partners:                                                       
Needham Capital Management Partners, L.P., 400 Park                     
 Avenue, New York, NY 10022...............................    99.0% (1) 
                                                           -------------
                                                             100.0%     
------------------------------------------------------------------------

    (1) Needham & Company, Inc., 400 Park Avenue, New York, NY, 10022, 
through its limited partnership interest in Needham Capital Partners, 
L.P. owns an effective 26.4% interest in the Applicant.
    Needham Capital SBIC, L.P. will be managed by Needham Capital 
Management Partners, L.P. The general and limited partners of Needham 
Capital Management Partners, L.P. are:

------------------------------------------------------------------------
                                                              Percentage
             Name                 Relationship to manager      ownership
                                                              of manager
------------------------------------------------------------------------
George A. Needham, 79 East     General Partner..............        0.5 
 79th Street, New York, NY                                              
 10021.                                                                 
John C. Michaelson, 1010       General Partner..............        0.5 
 Fifth Avenue, New York, NY                                             
 10028.                                                                 
Needham Capital Partners,      Limited Partner..............       99.0 
 L.P., 400 Park Avenue, New                                             
 York, NY 10022.                                                        
                              ------------------------------------------
                               .............................      100.0 
------------------------------------------------------------------------

    The applicant will begin operations with capitalization of 
approximately $7.5 million and will be a source of equity financings 
for qualified small business concerns. The applicant will invest 
primarily in the technology and life sciences businesses located in the 
states of California, Massachusetts, Minnesota, and Texas.
    Matters involved in SBA's consideration of the application include 
the general business reputation and character of the proposed owners 
and management, and the probability of successful operations of the new 
company under their management, including profitability and financial 
soundness in accordance with the Act and Regulations.
    Notice is hereby given that any person may, not later than 15 days 
from the date of publication of this Notice, submit written comments on 
the proposed SBIC to the Associate Administrator for Investment, Small 
Business Administration, 409 3rd Street, SW, Washington, DC 20416.
    A copy of this Notice will be published in a newspaper of general 
circulation in New York, New York.

(Catalog of Federal Domestic Assistance Programs No. 59.011, Small 
Business Investment Companies)

    Dated: August 8, 1994.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 94-20062 Filed 8-15-94; 8:45 am]
BILLING CODE 8025-01-M