LOS ANGELES, Dec. 19, 2006 (PRIME NEWSWIRE) -- David R. Goddard, CEO of FutureVest, Inc. (Pink Sheets:FRVT) today announced FutureVest was granted a business license to operate a Venture Capital Management company in Shenyang, China. The newly formed company, FutureVest Management (Shenyang) Co. Ltd., is a wholly owned subsidiary of FutureVest, Inc. and has registered investment capital of $20 million. FutureVest intends to use this company as a platform to expand its operations into China.
"The FutureVest investment plan for China will be similar to our other investment activities around the world," commented Mr. Goddard. "We look to invest in early stage companies in the Software, Environmental Technology and Online/New Media market segments, which can deliver profitable value to our shareholders."
Shenyang is China's seventh largest city and serves as the 'gateway' to Northeast China. The region has become one of the most important economic zones in China with a population exceeding 100 million people. FutureVest, the first registered Venture Capital Management company in Shenyang, chose the area through analysis of the economic structure and opportunities, as well as, the significant growth potential of the area.
"FutureVest intends to work closely with the local and regional governments to invest in companies, which show potential to become global leaders and add to the economic base of Northeast China," noted Mr. Goddard. "We know many companies are also looking at expansion in China, we have the opportunity to help them through our financing, management, and utilization of our established relationships with the regional government."
About FutureVest, Inc.
FutureVest (Pink Sheets:FRVT) a Venture Investment Company develops shareholder value through strategic investments. FutureVest has two interconnected working segments, Capital Investments and Venture Services that provide the necessary resources to assist in growth and success of its portfolio groups. Core investments are made into entrepreneurial lead companies in the area of environmental technologies, software companies and online new media ventures.
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