Philosopher's Stone Ventures and eLease Form Lucrative
Partnership
November 12, 2001, Redondo Beach, CA-Philosopher's Stone
Ventures, a technology incubator, recently joined forces
with eLease, an online leasing company.
eLease is an online application that enables customers
and vendors to apply utilizing the Internet and new technologies.
Thus, tremendously speeding up the leasing process from
weeks to minutes. Paragon Capital, eLease's parent company,
was founded in 1996 and began as a traditional leasing company
focused on the high tech industry. eLease is a combination
of the traditional and industry experience of Paragon Capital
and the highest technology of LeaseExchange.
"I am very excited about our recent partnership with
eLease." says Jenny M. Sakhrani, CFO of Philosopher's
Stone Ventures. "Leasing for start-up companies is
usually very difficult to do as there is no credit history.
Our partnership with a leasing company allows our portfolio
companies to lease much needed equipment without the heavy
burden on cash flow."
Philosopher's Stone Ventures is a technology incubator
whose vision is to turn innovative ideas of its entrepreneurs
into successful, groundbreaking, moneymaking businesses.
The incubator also assists investors with choosing the right
company to invest in via their rigorous technical due diligence.
The company is located in the South Bay area in Southern
California.
For additional information, contact:
Brenda Harris
Philosopher's Stone Ventures
Telephone: (310) 316-3100
Fax: (310) 316-9500
media@philstone.com
http://www.philstone.com
The Philosopher's Stone is a mythical substance that can
transform lead into gold, and produce the Elixir of Life
that makes the drinker immortal. Philosopher's Stone Ventures,
as a technology incubator, has similar transformative powers:
turning the innovative ideas of our entrepreneurs into successful,
groundbreaking, money-making businesses.
