The Gilde IT Fund in June invested $1.5 million (ecu 1.2 million) in WorldStreet Corporation as part of a $5 million funding round led by Advanced Technology Ventures of the US.
Massachusetts-based WorldStreet, founded in 1996, develops next-generation client-management applications for institutional sales personnel in the securities industry.
WorldStreet will use the investment to fund further product development and the expansion of its marketing and sales organisation.
The company plans to collaborate with Gilde to establish key strategic partnerships in Europe. WorldStreet president and CEO Bruce Fador said “Gilde brings a vast portfolio of resources and international expertise, considerably strengthening WorldStreet’s strategic positioning”.