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 May 1, 2005 Gemstone Development Announces Completion of Distribution of Google Proceeds to Partners 2000 Investment in Google Yields 7600% Absolute Return (Las Vegas, NV) - Gemstone Development announced today that it had completed liquidation and distribution to partners of the final proceeds from its private equity investment in Google, Inc, made in 2000 in partnership with Angel Investors, LP. Limited Partners in Gemstone/Edelstein Capital I, LLC will be receiving their final cash distributions shortly. The purchase of Google shares was made as part of a portfolio of early-stage technology investments selected by Angel Investors, LP. "Although many of the 1999-2000 era tech-investments have long been worthless," said Alexander Edelstein, Gemstone Development CEO, “Our small investment in Google has more than made up for many of them.” This continues the steady liquidation of Gemstone/Edelstein Capital I, LLC, a 1999-2000 technology investment fund. The primary remaining assets in the fund are investments in Tellme Networks, NeoIT, and Cloudmark. Gemstone Development is an integrated investment and development company with operations in Real Estate and Private Equity investment. The company is the developer of the Manhattan Condominiums project on Las Vegas Boulevard in Las Vegas (www.manhattanlv.com), which brings urban convenience, luxury and style to Las Vegas, but delivers it at a surprisingly affordable price point. It’s private equity investments have included Google, Shopping.Com and Inktomi and currently include Cloudmark, Tellme Networks, and the Broadway Production of “The 25th Avenue Putnam County Spelling Bee”. For more company information, visit the Gemstone Development website at www.gemstonedev.com or dial 702-614-3193. Contact: Gemstone Development 702.614 3193 Back to the News page |
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