AUSTIN, TX--(Marketwire - November 19, 2010) - Lion Street announced today that the company is now extending invitations to a limited number of elite life insurance advisors to partner with Lion Street. "Our industry has a significant pattern of success when top producers develop economic alignment in a company they own, control and want to see prosper," says Bob Carter, Founder & CEO.
Initial funding from Austin Ventures was secured in August, 2010, of $5,000,000 with $45,000,000 of additional commitment. Carter has assembled an initial team including Royce Imhoff, former president of Affluent Market Group at American General Life, Mike Forsythe, former CFO of NFP Securities and NFP Insurance Services, and other talented, experienced industry executives, including Dave Janecek and Scott Weber.
The name Lion Street reflects both the strength and passion our firm will represent in the life insurance industry. The "Lion," like our advisors, is fiercely independent and respected, while "Street" represents traditional financial institutional stature.
The company has developed unique distribution partnerships with Transamerica, MetLife/Walnut Street Securities, and ING. Through an in-process acquisition of a multi-state, boutique insurance agency, Lion Street will offer selected life companies the opportunity to be aligned with the advisor-owners.
"Lion Street is at the intersection of great, visionary producers and forward thinking insurance companies. We have commitments from several of our industry's top practitioners who want to be founding shareholders in this success story."
About Austin Ventures
Austin Ventures ("AV") has worked with talented entrepreneurs to build valuable companies for over twenty-five years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texas and one of the most established in the nation. With an investment focus on business services and supply chain, financial services, new media, Internet and information services, software, and Texas special situations, AV invests at all stages of company development, from $100,000 in "planned experiments" in early stage ideas to $100+ million investments in expansion rounds, minority recapitalizations, and buyouts of lower middle market growth companies. AV's strategy is to partner with talented executives and entrepreneurs through its CEO-in-Residence and Entrepreneur-in-Residence programs. Visit austinventures.com for more information.
To learn more about Lion Street, visit www.lionstreet.com.
Contact Information:
MEDIA CONTACT:
James Joyce
VP, Marketing
512.776.8488