Want to be a porn mogul? Investment firm to hold monthly meetings to attract, uh, capital
Posted by: in Private Industry NewsFiled under: Engagements, Venture capital industry, Private equity industry, Investments
Investment conferences are usually pretty dull stuff. A dozen or so execs from small firms each get 20 minutes to stand up at the podium, run through a Power Point presentation and try to convince investors to throw some cash their way. Many investment banks hold them, often specializing in a particular sector.
Now the porn industry is getting what may be its first investment conference. Investment firm AdultVest has announced that it will schedule a series of ongoing meetings to bring potential investors together with business opportunities in the so-called adult entertainment sector. This represents what may be the first go-to gathering for investors to select from a variety of adult-oriented businesses. In short, here’s your chance to be a porn mogul.
These two-day events will no doubt be a tiny spicier than the usual investment conference fare — and in a sign of how popular AdultVest anticipates them to be, the firm will hold them each month. The press release also promises that, as the popularity of these meetings grows, they will be held in new venues like, “hotel meeting rooms, private estates, and private members clubs.”
For the first meeting this week, however, AdultVest execs will present the ‘business opportunities’ themselves to 10-15 invited investors. CEOs of the porn businesses will be invited to later meetings — presumably when they had been properly taught how to present to a Wall Street audience. Meetings will occur on the last Wednesday of each month.
According to the company, attendees will include private equity managers, hedge fund managers, venture capitalists, and angel investors. Also invited are individual investors, investment bankers, financial advisors, and the AdultVest committee that’s in charge of managing the AdultVest Bacchus Investment Fund and the Priapus Investment Fund.
The company also noted that some 647 adult companies have submitted investment proposals, with some 3,380 investors in the pool of “interested celebrations.” There have been 1,833 due diligence requests made by potential investors. While it is reviewing all opportunities, it appears that the company is looking for World wide web opportunities and and gentlemen’s clubs with annual revenues exceeding $1 million. AdultVest is meeting with roughly 20 porn businesses today to assess the viability of each.
There has always been a seedy side to Wall Street, but this seems to be taking it to a new level. This just goes to prove that investment banking can be a lot like dating. There really is someone out there for everyone. Who knows, maybe Paris Hilton can legitimately become the star everyone already treats her as.
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