The company today announced the acquisition of Venturelist.com, considered a portal site for venture capital. Financial terms of the deal were not disclosed.
Venturelist provides a directory of companies for the venture capital industry, including venture capital firms, consultants, factoring firms, equipment leasing firms, and venture capital associations.
According to a recent survey, U.S. venture capital funding jumped 24 percent to a record $14.3 billion in 1998 compared to $11.5 billion in 1997. Technology-based companies accounted for 76 percent of the 1998 funding, or $10.8 billion, the PricewaterhouseCoopers Money Tree survey said.
"While our acquisition of HomeSmart.com will greatly benefit our residential programs, Venturelist.com will allow us to market our variety of commercial lending products to the venture capital industry," Virtuallender president Carol Pizzo said in a statement.
Shares of Virtuallender fell 4.35 percent or half a point, to 11 in morning trading. The stock has traded as high as 22 and as low as 4.5 during the past 52 weeks.