BATON ROUGE, La., March 18, 2008 (PRIME NEWSWIRE) -- Advantage Capital Partners, Enhanced Capital Partners, Louisiana Fund I and the Louisiana Technology Fund today announced participation in a $1 million funding round for Baton Rouge-based Portico Learning Solutions, a premier provider of custom e-Learning solutions. The company will use the funds to fulfill its working capital needs.
"The e-Learning market is a growing industry and we're confident that Portico will continue to gain more traction in the marketplace with this latest round of funding," said Lee Pryor, CEO of Portico Learning Solutions.
Portico Learning Solutions (formerly Flying Fish Creative Services, Inc.), offers a variety of Internet-based learning systems for corporate, academic and government clients. Portico's products and services include CareerMap(tm), a basic Learning Management System (LMS) and an advanced Talent Management System (TMS); custom courseware development; and more than 2,000 off-the-shelf training courses. The company currently provides online e-Learning to more than 100,000 users at mid-sized companies and organizations worldwide.
"Advantage first invested in Portico in 2006 and since then the company has continued its growth with the addition of 10 new employees and an established list of loyal customers," said Justin Obletz, an associate at Advantage Capital who serves on the Portico board of directors. "This second round of financing underscores our commitment to the company and to fostering entrepreneurship in the Baton Rouge area."
Advantage Capital made its investment in Portico Learning Solutions in connection with Louisiana's Certified Capital Company (CAPCO) program, which encourages the flow of investment capital to promising companies located in the state.
About Advantage Capital Partners
Advantage Capital Partners (http://www.advantagecap.com) is a leading venture capital and small business finance firm focused on early stage companies and other investments supporting state and local economic development. With offices in New Orleans, St. Louis, Austin and other U.S. cities, Advantage has raised more than $950 million in institutional capital since 1992 and invested in companies located in geographic areas underserved by traditional venture capital.
About the Certified Capital Company program
Advantage Capital Partners is a leading participant in the Certified Capital Company (CAPCO) program, a state economic development tool designed to strengthen state economies by stimulating the flow of investment capital to local small businesses, creating high-paying jobs and increasing state tax revenues. Under a CAPCO program, insurance companies are encouraged to invest in certified capital companies; the state allows the insurance companies to claim tax credits for qualified investments in CAPCO funds. Taken over time, the tax credits generate large pools of private venture capital to be invested in the state. CAPCOs leverage the funds received from insurance companies to invest in qualified small businesses.