[Federal Register Volume 59, Number 232 (Monday, December 5, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-29745]


[[Page Unknown]]

[Federal Register: December 5, 1994]


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SMALL BUSINESS ADMINISTRATION
 

Norwest Equity Partners V; Notice of 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 Norwest Equity Partners V (Applicant), 2800 Piper 
Jaffray Tower, 222 South Ninth Street, Minneapolis, Minnesota 55402 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.
    Norwest Equity Partners V, a Minnesota limited partnership, is one 
of several venture capital funds formed by Norwest Venture Capital 
Management, Inc., a Minnesota corporation which will function as the 
investment advisor. The applicant's general partner is Itasca Partners 
II, a Minnesota limited liability partnership; 99% of the committed 
capital will be supplied by a limited partner, Norwest Limited, Inc., 
which is a subsidiary of Norwest Corporation, and sole owner of Norwest 
Venture Capital Management, Inc. Norwest Corporation is the nation's 
14th largest bank holding company.
    The general partner, Itasca Partners II, is located at the same 
address as the applicant. Its partners are:

Name and Title

Daniel J. Haggerty, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Managing Partner
John E. Lindahl, 2800 Piper Jaffray Tower, 222 South Ninth Steet, 
Minneapolis, MN 55402--Managing Partner
George J. Still, Jr., Building 3, Suite 105, 3000 Sand Hill Road, Menlo 
Park, California 94025--Managing Partner
Robert C. Fleming, 20th Floor, 50 Milk Street, Boston, Massachusetts 
02109--Partner
Kevin G. Hall, Building 3, Suite 105, 3000 Sand Hill Road, Menlo Park, 
California 94025--Partner
Promod Haque, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Partner
Ernest C. Parizeau, Wellesley Office Park, Suite 305, 40 William 
Street, Wellesley, Massachusetts 02181--Partner
Stephen R. Sefton, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Partner
John J. Thomson, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Partner
John P. Whaley, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Partner

    Northwest Venture Capital Management, Inc. is located at the same 
address as the applicant. Its officers are:

Name and Title

Daniel J. Haggerty, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--CEO, Pres., Director
John T. Thornton, Northwest Center, Minneapolis, MN 55402--Director
Michael T. Gallagher, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Vice President
George J. Still, Jr., Building 3, Suite 105, 3000 Sand Hill Road, Menlo 
Park, California 94025--Vice President
John E. Lindahl, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Vice President
Robert C. Fleming, 20th Floor, 50 Milk Street, Boston, Massachusetts 
02109--Vice President
Kevin G. Hall, Building 3, Suite 105, 3000 Sand Hill Road, Menlo Park, 
California 94025--Vice President
Promod Haque, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Vice President
Ernest C. Parizeau, Wellesley Office Park, Suite 305, 40 William 
Street, Wellesley, Massachusetts 02181--Vice President
Stephen R. Sefton, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Vice President
John L. Thomson, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Vice President
John P. Whaley, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--VP, Treas., Secy.
Thomas J. Ryan, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Asst. Treasurer
Patti Reskin, 2800 Piper Jaffray Tower, 222 South Ninth Street, 
Minneapolis, MN 55402--Controller, Asst. Secy.

    The following limited Partner owns 10 percent or more of the 
applicant:

Name and Percentage of Ownership

Norwest Limited, Inc., Norwest Center, Sixth and Marquette, 
Minneapolis, Minnesota 55402--99%

    Norwest Equity Partners V will begin operations with committed 
capital of $200 million. The applicant will be a source of debt and 
equity financing for qualified small business concerns.
    Norwest Equity Partners V will have offices in Minnesota, 
California, and Massachusetts, but will invest nationwide. The 
applicant does not plan to apply for SBA financing.
    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 Minneapolis, Minnesota, Menlo Park, California, and 
Wellesley, Massachusetts.

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

    Dated: November 25, 1994.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 94-29745 Filed 12-2-94; 8:45 am]
BILLING CODE 8025-01-M