Title	Santa Barbara Technology Group Completes Second Round of Financing
Date:	12/6/2000
Author:	Silicon 2.0 Staff Report
Source:	Silicon 2.0

Santa Barbara Technology Group (SBTG), the holding company for Santa Barbara Technology Incubator and Santa Barbara Technology Properties, announced yesterday it has successfully completed a second round of financing.

Company officials say 15 investors from around the world participated in the financing, including many Santa Barbara-area high-net-worth individuals, several of whom are former senior executives with Fortune 500 companies. Other investors are located in Europe and Asia."

"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," said Dennis Cagan, chairman and CEO of SBTG. "It gives us additional resources at a time when there are lots of exciting investment opportunities. I also believe that several of our new local investors will prove to be invaluable as mentors to the portfolio companies we have funded through Santa Barbara Technology Incubator."

The Santa Barbara Technology Incubator has reviewed more than 300 business plans to date and has selected four start-up companies for its portfolio. Each of these companies receives financing, operational and technological infrastructure, and strategic guidance as it prepares for its first round of tier-one venture capital financing. The incubator continues to review companies from throughout the tri-counties region.

About Santa Barbara Technology Group: Santa Barbara Technology Group is the holding company for Santa Barbara Technology Incubator (SBTi) and Santa Barbara Technology Properties (SBTP). SBTi offers venture financing, incubating and launches high-technology start-up companies, while SBTP offers office space leasing for early-stage high-tech companies in Santa Barbara.

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SBTi: www.sbtechnology.com
SBTP: www.sbtechnologyproperties.com