Report marks city’s record in entrepreneurship – Louisville is a success story

When Sean O’Leary and Sterling Lapinski launched Genscape Inc. in 1999, they were able to raise enough seed capital to get the company off the ground and begin developing their own technology.

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But to help Genscape grow, the founders required additional investment. In 2001, they sought venture-capital funding.

O’Leary said local venture-capital firms Chrysalis Ventures LLC and Prosperitas Investment Partners LP were integral to the development of the young Louisville company, which provides real-time power plant output and transmission information to energy traders and others.

"For our business, we needed a fairly substantial capital infusion to get things rolling," said O’Leary, who became CEO of Genscape last year after it was acquired by an investor group led by Los Angeles-based GFI Energy Ventures LLC. "You need available capital in town or in an area to support new ideas and new ventures."

By John R. Karman III
Business First of Louisville

Full Story: http://msnbc.msn.com/id/6705170/