Greenwood Village, CO, October 13, 2011 --(PR.com
)-- Keating Capital, Inc. (www.KeatingCapital.com), a pre-IPO investment fund, announced that on September 26, 2011, it made a $3 million common stock investment in TrueCar, Inc. (www.TrueCar.com) (“TrueCar”). Through this most recent closing, TrueCar has raised over $50 million in the common stock financing round.
Founded in 2005 and based in Santa Monica, California, TrueCar is an online research and pricing tool for consumers interested in buying a new or used vehicle whereby a consumer can research any make and model and see a histogram of actual transaction prices for that vehicle in a specific geographic area. Through TrueCar’s platform, consumers also have access to average prices paid, recent sales data, monthly price trends and vehicle pricing details, which show dealer cost, and factory invoice, as well as customer and dealer incentives being offered.
TrueCar is Keating Capital’s ninth new portfolio company investment in 2011. With this investment, Keating Capital has now invested a total of $31.4 million in 13 portfolio companies, including $27.8 million invested year-to-date.
About Keating Capital, Inc.
Keating Capital (www.KeatingCapital.com) is a business development company that specializes in making pre-IPO investments in innovative, high growth private companies that are committed to and capable of becoming public. Keating Capital provides individual investors with the ability to participate in a unique fund that invests in a private company's late stage, pre-IPO financing round — an opportunity that has historically been reserved for institutional investors.
To be added to Keating Capital’s distribution list, go to www.KeatingCapital.com/contact.
Margie L. Blackwell
Investor Relations Director
Keating Capital, Inc.