Bolero.net gets finance

bolero.net expects that the $50 million in private equity financing received should take it to profitablity in the first quarter of 2002.
bolero.net has completed a $50 million private equity financing placement. Apax Partners Europe IV fund is the lead investor, ploughing $30 million into the international online trade facilitator in September. Baring Asia Private Equity Fund II Baring Funds has invested $15 million, and Jean Eric Salata, managing partner of Baring Private Equity Partners HK Limited will join the board of bolero.net. The remaining $5 million comes from Palio Portfolio Ltd.

The completion of this funding round means we are now in a position to accelerate the rate at which we reach out into new markets and enhance our service offeringÂ…We will also be ramping up our expansion in key vertical industry sectors,...

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