Title	Santa Barbara Technology Group Gets a Stocking Stuffer
Date:	12/7/2000
Author:
Source:	Digital Coast Daily

The Santa Barbara Technology Group (SBTG), the holding company for Santa Barbara Technology Incubator and Santa Barbara Technology Properties, secured an undisclosed second round of funding this week from fifteen private investors. The company's financiers included individuals from Asia and Europe.

According to spokesperson Maggie Lang, the new capital will "go into [the Group's} fund to finance companies that we incubate." So far, the Incubator has selected four start-ups for its portfolio.

In a statement, CEO and Chairman Dennis Cagan added, "This additional round of financing comes only six months after our initial capitalization, and we're proud that it was at a respectable increase in valuation. It gives us additional resources at a time when there are lots of exciting investment opportunities.