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Esperanza Guerrero-Anderson to Retire from Milestone Growth Fund; Founder and CEO Leaves Post to Pursue Personal Endeavors MINNEAPOLIS--(BUSINESS WIRE)--April 21, 2006--Esperanza Guerrero-Anderson has announced her retirement as president and CEO of Milestone Growth Fund. As Milestone completes its successful capital campaign, Guerrero-Anderson leaves behind a strong venture capital firm with increased investment capacity that will help meet the growing funding need of the Twin Cities minority community. "It's always difficult to leave something that has been such a driving force in your life, but I've decided it's time to spend more time with my family, travel and pursue other dreams," said Guerrero-Anderson. "I'll continue to lead Milestone Growth Fund, to assist the board in finding my successor and to ensure a smooth transition." "Replacing a strong visionary founder and CEO is always a challenge. This is especially true of Esperanza as she has served her vision of helping build wealth and leadership in the minority business community for 24 years, eight with the Metropolitan Economic Development Association and 16 with Milestone," said John Stout, co-founder and chair of the Fund. Stout continued, "We believe Milestone is a great opportunity for a strong finance executive who shares Esperanza's passion for ethnic business development, a passion shared by Milestone's staff and board of directors as well." Milestone financing and management assistance helps minority entrepreneurs grow their businesses, hire people, improve local economies, increase the local tax base, encourage solutions to social problems, and inspire others to pursue the American dream of building a successful business. About Milestone Growth Fund Milestone Growth Fund is the only Minnesota venture capital fund that is focused on providing equity-type financing to minority-owned companies. It fills a gap in funding ethnic minority businesses by providing financing that is either too risky for banks or too small for other venture capital firms. Since 1990, Milestone has helped 70 such companies with investments totaling more than $24 million. In addition to capital, the company provides management services such as consulting on building a board to strategic planning and access to information sources and experts. Licensed by the U.S. Small Business Administration, Milestone Growth Fund has clients that include such business success stories as Creative Kidstuff, iXmatch, Latino Communications Network, and SuperSolutions. Website: www.milestonegrowth.com Milestone Growth Fund is the only Minnesota nonprofit venture capital fund focused on providing equity-type financing to minority-owned companies. Since 1990, Milestone has financed 67 such companies with investments totaling more than $22 million. In addition to capital, the company provides management and technical services to enhance the value of the companies in which it invests . Licensed by the U.S. Small Business Administration, Milestone Growth Fund has clients that include such business success stories as Creative Kidstuff, iXmatch, Latino Communications Network, and SuperSolutions. Website: www.milestonegrowth.com For more information, contact: |
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