Redleaf attracts investment of $150 million

BANGALORE: Redleaf Group LLC, a new Internet company developing seed stage business-to-business e-commerce firms, has announced it is securing initial capitalization of $150 million from various e-commerce companies and institutional investors to fund its launch in five strategic locations.

According to a press release, Redleaf will use the investment to establish its operations in "NetHub" locations to guide seed stage business-to-business e-commerce companies into category leaders. The largest equity holders include Safeguard Scientifics and Novell Inc. "This support from some of the most notable companies and investors in e-commerce will fuel Redleaf's growth and expansion in areas rich with the resources that incubate the next generation of Internet companies," said Redleaf founder co-CEO and director of Pacific Operations John Kohler. The company has established operations in Saratoga, Pittsburgh, Los Angeles, Seattle and Reston, Va., and will branch out over the next several months to Boston, New York, Atlanta and London.

"We're bringing the excellence of Internet marketing, business development and digital incubation resources that exist in Silicon Valley to the communities most likely to spawn the next generation of Internet business-to- business companies," said Redleaf co-CEO and director of Atlantic operations C. Lloyd Mahaffey. He also added, "In addition to capital, Redleaf will offer a range of services including operational support and a 'digital incubator' systems integration capability to help seed-stage Internet firms mature into category winners."