kRoad Ventures LP made a significant investment in HoustonStreetExchange Inc. intended to help HoustonStreet bring online energycommodity trading to Europe.

New York City-based kRoad is a global venture capital fundfocused on the infrastructure sector (energy, utilities, water andwaste management). kRoad brings trading liquidity, sectorexperience and international business networks unique to itslimited partners: Vivendi (Europe), Softbank (Asia) and Sithe(North America).

“The HoustonStreet transaction is in line with our goal toinvest in companies where our capital contribution is strategicallysupported by our sector experience and access to global markets,”said William Kriegel, general partner, kRoad Ventures. “We believekRoad’s contribution will give HoustonStreet the opportunity tobecome the global leader in online energy trading.”

kRoad’s investment is intended to accelerate and serve as thecornerstone for HoustonStreet’s international initiatives. As afirst step, kRoad, Vivendi and HoustonStreet have agreed tostructure a strategic partnership to establish HoustonStreet as anenergy commodity trading system in Europe. In addition, Kriegelwill join HoustonStreet’s board of directors.

“kRoad and Vivendi have the international clout and marketrelationships to jumpstart HoustonStreet’s global plans,” saidFrank Getman, HoustonStreet Exchange CEO. “Specifically, we haveour sights set on Europe, and we expect kRoad and Vivendi to besignificant partners as we look to expand our reach and scope ofservices.”

©Copyright 2000 Intelligence Press Inc. All rights reserved. Thepreceding news report may not be republished or redistributed, inwhole or in part, in any form, without prior written consent ofIntelligence Press, Inc.