Washington, D.C. – June 28, 2001: Core Capital Partners, one of the Mid Atlantic’s leading venture capital funds, announced today that it had absorbed GCI Venture Partners LLC, a $25 million early-stage fund founded in 1997. Mark Levine, the Managing Director of GCI Venture Partners, will join Core Capital founders Jonathan Silver and William Dunbar as a Managing Director of Core Capital Partners.
Jonathan Silver, Managing Director of Core Capital, said, “We are delighted to have incorporated GCI Venture Partners into our activities. GCI, through the quality of its investment team and its relationship with parent company Geo-Centers, Inc., adds substantial depth to our investment research in both advanced telecommunications and the life sciences. “ According to Mark Levine, “the merger allows us to leverage the assets of both funds and better serve our limited partners and portfolio companies. The GCI and Core partners have already worked together on a number of successful transactions. The new entity expands our presence and our resources in the Mid Atlantic.”
Local companies in the GCI Venture Partners portfolio include webMethods, Viaken Systems, Sentit0 Networks, Claragen, Wisor and Nextone.
Prior to forming GCI, Mark Levine, was a founder of Geo-Centers, Inc., an R&D services firm with over 500 employees in 30 offices throughout the United States. The company’s expertise includes chemical and materials research; biotechnology; engineered systems and technology transfer; and biomedical health research. Ed Marram, CEO of Geo-Centers, will also join Core Capital as a Special Partner responsible for the development of the fund’s R&D Advisory Board. Angel Brunner joins Core Capital as an associate.