Essay About General Partner Of Private Equity Partners And Eclipse Retail

Eclipse Retail
Eclipse Retail (A)
It was a stormy morning in November of 1998 when Jim Smart, the
general partner of Private Equity Partners (“PEP”), opened the envelope that
had arrived by overnight delivery from Eclipse Retail. Eclipse’s CEO,
George Sirf, had telephoned Jim and, after briefly introducing himself, pitched his
venture concept. Jim was intrigued and requested a copy of Eclipse’s business plan.
PEP, a $50 million venture capital fund, focused on early stage technology
ventures in the computing and health care fields. The firm focused on investing one to
three million dollars in a company’s first round of financing and believed that its industry
experience could help add value to portfolio companies. PEP partners sat on company
boards and acted in a consulting capacity, devoting as much as one day a week to each
firm in which they had invested.
George closed the door to his office and prepared to conduct an initial review
of Eclipse’s business plan.
Eclipse Retail:
The Future of Designer Retailing
This business plan has been submitted on a confidential basis solely to
sophisticated investors. The recipient should not reproduce or distribute
the plan without permission. Copies of the plan should be returned to
Eclipse Retail upon request.
Summary
Eclipse Retail, Inc. (the “Company” or “Eclipse Retail”) seeks to become the dominant
Internet retailer of designer fashions, jewelry and home furnishings at discount prices.
The Company sells designer apparel, jewelry and home accessories at 20 to 80 percent
off of retail prices via its Web Site (“Eclipse Retail.com” or the “Web Site”). The Web
Site,