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Nebraska Global: $20M ‘patient capital’ with plans for $10M more

Lincoln Journal Star reporter Richard Piersol has shed a lot more light on Nebraska Global, the venture capital fund whose website launch (the company’s first “press release” of sorts) we covered on December 22nd: “Venture capital fund Nebraska Global opens in Lincoln.”

Piersol’s article, “New company aims to develop home-grown software entrepreneurs” (left, screenshot from journalstar.com), makes sure to point out, however, that the principals of Nebraska Global and some of the fund’s investors aren’t labeling it “venture capital.” Instead, Nebraska Global managing principal Steve Kiene is calling the $20 million raised to start Nebraska Global “patient capital.”

In the article, Peirsol provides quotes from Kiene and other individuals involved with or knowledgeable of Nebraska Global to tell a bit of the company’s backstory and talk about the direction it’s headed. When combined with the information the Nebraska Global website reveals, it’s evident the company, and the state of Nebraska, are in for some exciting software startup launches in the years ahead.

To read the article (which I strongly suggest you do, it’s a great read), visit journalstar.com:

New company aims to develop home-grown software entrepreneurs

Posted: Saturday, January 8, 2011

By Richard Piersol

Steve Kiene, his colleagues and local investors are putting a whole lot of money where his mouse is.

The serial software entrepreneur led the effort to start a $20 million company, Nebraska Global Investment Co. LLC, to finance the creation and […]

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Investors listed in the article:

(Note, article states: “Not all the investors are willing to disclose their identity and the amount of money they’re contributing to the fund.”):

  • Steve Kiene, managing principal and chairman of Nebraska Global (according to the article: “$5 million of his own money”)
  • Mike Dunlap, a member of the family that owns Union Bank and chairman of Nelnet Capital (according to the article: “is among those who kicked in money, through Nelnet”)
  • Tonn Ostergard, CEO of Crete Carrier Corp.
  • Inland Insurance, owned by NEBCO (according to the article: “the Abel family business”)
  • Marc LeBaron, chairman of Lincoln Industries
  • University of Nebraska Foundation

According to a September 2nd SEC Form D filing (Notice of Exempt Offering of Securities) made by Steve Kiene of Nebraska Global Investment Company, LLC, $19.6 million of the $20 million of the amount offered had been sold. Looking to the future, the Journal Star article states: “They still want to raise $10 million more.”

Board members listed in the article:

Also, make sure to check out the Journal Star’s related article, “Some of Nebraska Global’s young entrepreneurs,” in which four Nebraska Global employees are interviewed about working for the company.

Some of Nebraska Global’s young entrepreneurs

Posted: Friday, January 7, 2011

By The Lincoln Journal Star

Here’s what some of Nebraska Global’s young employees had to say about their work.

Nate Lowry: I’m originally from Cairo, NE (Population: 800). I graduated from Centura High School in 2005 with 35 in my class. I graduated from UNL […]

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