CHATTANOOGA, Tenn. (August 4, 2010) –FourBridges Capital Advisors today announced the sale of $60 million of TNInvestco tax credits to insurance companies on behalf of TNInvestco funds MB Venture Partners, Solidus Company and Tennessee Angel Fund.

MB Venture Partners, Solidus Company and Tennessee Angel Fund engaged FourBridges Capital to contact prospective purchasing insurance companies and initiate a competitive process for the purchase of the credits.

“By using a professional process to find each and every buyer, we were able to maximize the proceeds from the sale of the credits and provide more money for investment in Tennessee’s promising companies,” said Gary Stevenson, managing partner at MB Venture Partners.

“FourBridges did a fantastic job on this transaction.  They worked hard to identify suitable buyers and closed the sale quickly and effectively, allowing us to get to work on funding Tennessee-based early stage ventures,” said Sid Chambless, managing partner of Tennessee Angel Fund.

FourBridges conducted an extensive process to identify insurance companies that could use the TNInvestco tax credits, initiate discussions with their investment professionals, and educate them on the benefits and structure of the program.

“The uniqueness of Tennessee’s program presented a number of challenges which FourBridges and our clients had to work through during the process,” said Andy Stockett, managing director at FourBridges Capital Advisors. “FourBridges is very pleased to have played a key role in Tennessee’s innovative TNInvestco program, and we appreciate the opportunity to work with MB Venture Partners, Tennessee Angel Fund and Solidus as well as the State of Tennessee.”

For more information about this transaction, please contact Andy Stockett at (423)266-6979, Chris Rowe at (423)266-4630, or Ben Brown at (423)266-6873.

FourBridges Capital Advisors is a middle market investment bank providing sell-side, buy-side, capital raising, restructuring, and strategic advisory services primarily to closely-held and family-owned businesses. FourBridges is based in Chattanooga, Tennessee and serves clients across the Southeast, including Atlanta, Nashville, Birmingham, Memphis, Knoxville, and Huntsville.

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