Robert Lind, a principal in a Las Vegas-based investment adviser firm, is confident his recently launched firm — Berkshire Bridge Partners LLC — will achieve longevity in a line of business where few others have succeeded in Nevada.
Lind said Berkshire Bridge Partners mission is to invest in private businesses in exchange for an equity interest. He said the focus is on “growth and expansion capital,” making investments in Nevada companies that have strong management, a defined product, revenue, significant market opportunity and capital needs to meet growth demand.
He credited Switch Communications with being a “major attraction for business in Nevada.” Tony Hsieh’s efforts to support startup firms and revitalize downtown Las Vegas and the arrival of Apple Inc. in Northern Nevada have also attracted attention, he said.
Despite the recent success, Lind said businesses statewide historically have suffered from a lack of access to venture capital or private equity.
In the first quarter of 2013, one deal was reported in Nevada with no financial terms disclosed, according to the National Venture Capital Association. The association reported four venture deals last year in Nevada totaling more than $7 million.
The situation is slowly improving, Lind said.
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