Eagle Summit Corporation Closes $100 Million Venture Capital Fund and Expands Micromining Sector Focus
The micromining industry is thriving with the increased demand of precious metals in response to a foundering currency market.
- (1888PressRelease) February 24, 2011 - Eagle Summit Corporation, a venture capital firm committed to early stage company building, today announced that it has closed a $100 million venture capital fund, ESC IX. The fund will allocate roughly $100 million to expanding the firm's thriving mining practice which began in 2005. Eagle Summit Corporation has since built a comprehensive portfolio of investments in smaller, high margin mining assets including open pit mining gold and silver operations, exploration license assets, refineries, and gold bullion.
"The micromining industry is thriving with the increased demand of precious metals in response to a foundering currency market. The Eagle Summit Team has taken a keen interest in the 'production side' of the gold equation and are pleased to see the industry embrace investments geared toward operational efficiency," said Henry Stanwell, general partner at Eagle Summit Corporation.
Eagle Summit Corporation will continue to leverage its partners' operations experience and investing success to identify and back the best entrepreneurs in building successful mining companies in the areas in which it has traditionally been active. The addition of investment associate, Andreas Spyros; senior engineering advisor, will assist Eagle Summit Corporation to spot and pursue new investment opportunities.
By focusing on higher quality but smaller quantity ore deposits, micromining operations offer the flexibility to quickly react to volatile fluctuations in fuel and metal prices not afforded to companies that focus on large-scale open pit mining.
-About Eagle Summit Corporation-
Founded in 2005 and based in Cyprus, the goal at Eagle Summit Corp is a simple one: to work with talented entrepreneurs and management teams to develop ground-breaking products and build substantial business enterprises around them. We have raised a series of partnerships, with current committed capital in excess of $450 million, and helped build hundreds of companies, 60 of which have gone on to successful IPOs and more than 45 of which have gone on to successful mergers.
Eagle Summit Media Coordinator
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