FOR IMMEDIATE RELEASE
October 22, 1999
FOURTEEN HILL CAPITAL, L.P.
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ANNOUNCES NAME CHANGE TO POINT WEST VENTURES AND ANNOUNCES
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THIRD QUARTER FINANCINGS
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SAN FRANCISCO-(October 22, 1999) Fourteen Hill Capital, L.P., a majority owned
affiliate of Point West Capital Corporation (which trades on NASDAQ under the
symbol PWCC) today announced that it has changed its name to Point West
Ventures, L.P.
"The name change to Point West Ventures will solidify the branding of
Point West and will, perhaps, help the market focus on our financing activities
for Internet-related companies, which is an important component of our core
strategy," said Brad Rotter, Chairman.
Additionally, Point West Ventures announced that it closed six new
financings during the third quarter of 1999:
1. A $200,000 convertible note from TixToGo, Inc. TixToGo
(www.tixtogo.com) is the "Marketplace for Activities" bringing together activity
organizers and participants. TixToGo offers a Web based service for secure,
cost-efficient transactions including registrations, ticket purchases,
donations, membership sign-ups and RSVP's. It works equally well for businesses,
associations, and individuals, and is ideal for fund-raisers, meetings,
seminars, concerts, trade shows, festivals, and corporate events. TixToGo's
service allows organizers to bring
the convenience of online registration and electronic payment to their
constituents in a matter of minutes.
2. $500,000 of convertible preferred stock of Nomadix, Inc. Nomadix
(www.nomadix.com) manufactures network gateways that enable service providers to
deliver high-speed Internet access to the modern technology-based road warrior.
Nomadix's chairman is Dr. Leonard Kleinrock, who is considered a father of the
Internet, and whose computer at UCLA became the first node ever to connect to
the Internet in September 1969.
3. A $1,000,000 convertible note from Enikia, LLC. Enikia
(www.enikia.com) designs, develops, and markets home networking technologies.
Offering powerline-based home networking with 10 Mbps Ethernet speed, Enikia
enables the sharing of resources across multiple computers and peripherals, and
facilitates the introduction of novel digital applications that advance home
automation. Enikia's technology gives consumers a home network that is both fast
enough to match the speed of broadband Internet connectivity, and is available
at any power plug in the home.
4. $300,000 of convertible preferred stock of ON-SITE Dental Care, Inc.
ON-SITE (www.onsite-dental.com) is a mobile dental service provider delivering
the highest quality, fee for service dental care to Corporate America. The
Company has developed the industry's first state-of-the-art, mobile dental
facility designed specifically to bring the dental office to the
patient. This innovative approach represents a paradigm shift in the delivery of
dental care.
5. $500,000 of convertible preferred stock of NetProspect, Inc.
NetProspect's mission is to be the trusted Internet leader in helping consumers
realize the value of their actions, profiles, experiences and relationships
through an innovative, context sensitive and consumer-friendly desktop
application.
6. $500,000 of units from Netgateway, Inc., in a private placement.
Each unit consists of a promissory note and shares of common stock. Netgateway
(www.netgateway.net) provides turn-key electronic commerce services designed to
enable clients to extend their business to the Internet. Its Internet Commerce
Center provides its clients with a variety of features, ranging from simple
Internet storefronts to complex systems designed to enable them to conduct
business-to-business electronic commerce by means of the Internet. Netgateway
trades on the OTC bulletin board under the symbol NGWY. In June 1999 Netgateway
filed a registration statement with the SEC for a public offering and has
applied for a NASDAQ listing.
Also, in connection with a $250,000 loan previously made to
Homeseekers.com, Inc. (HMSK), Point West Ventures received from HMSK a warrant
to purchase 50,000 shares of common stock of HMSK at $2 15/32 per share.
Point West Ventures is a Small Business Investment Company licensed by
the Small Business Administration. Point West
Ventures provides capital to small businesses (generally businesses whose
tangible net worth does not exceed $18 million and whose average net income
during the preceding two years did not exceed $6 million) whose primary
businesses are located in the United States.
Additional information about Point West Ventures is available on the
company's Web site, www.pointwestventures.com, or by calling 415-394-9467
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(KEYWORD CALIFORNIA AND INDUSTRY KEYWORD: Venture Capital, Internet,
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E-commerce.)
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CONTACTS: POINT WEST VENTURES, SAN FRANCISCO.
CHRIS RODSKOG, 415/394-9467
cpr@pointwestcapital.com