A new e-commerce and internet business venture capital company has been launched in Bermuda. The company, Wired Atlantic Limited, is headed by former Bermuda finance minister Dr. Grant Gibbons and venture capitalist Erik Tiller (co-founder of the Amerscan Group) and will invest between $500,000 and $2 million in new e-commerce and internet related ventures as well as assisting them with obtaining further financing or public offerings. Wired Atlantic is a Bermuda exempted company and completed its initial subscription on December 16.
According to Dr. Gibbons, Wired Atlantic plans to provide venture capital and management assistance to small e-commerce and internet companies in the early stages of their development in North America, Europe and Bermuda. It has already started negotiations with three e-commerce companies - online health companies Pharmasoft and LogonHealth, and AviationX, a business to business start-up.
Wired Atlantic has also appointed an Investment Advisory Board to assist it with investment strategies, which includes author and chairman of James Martin Associates, Dr. James Martin, AOL principal Jay Sikkeland and Bermuda Stock Exchange CEO William Woods.
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