09/06/08 06:18 AM
Dispenser gets advantage
Advantage Capital Partners, a St. Louis-based venture capital firm, has invested $1.5 million in Niagara Dispensing Technologies, an Amherst beverage dispensing equipment maker.
The investment was part of a $3.6 million round of fundraising earlier this year that also included local investors.
Buffalo venture capital firm Rand Capital Corp. previously disclosed that it had converted its $865,000 in debt in the company into equity and and bought an additional $700,000 in shares as part of the round of fundraising.
The Erie County Industrial Development Agency in March approved an additional $450,000 loan for the company, bringing the IDA’s investment in Niagara Dispensing’s faster and more precise beverage-pouring system to $1.2 million.
