For Immediate Release
Kay Scherer, NCED, 775-687-4325
Tom Clark for M3VG, 775-334-6789
Lesley Pittman for M3VG, 702-228-0222


National Venture Capital Association Grants Membership to Nevada Organization
Same In-State Venture Capital Group Invests $1.8 Million in Nevada Company

The prestigious National Venture Capital Association has awarded its first Nevada membership to the Millennium Three Venture Group (M3VG), a late stage venture capital firm specializing in high-growth Nevada businesses.

The National Venture Capital Association is an exclusive group of about 300 venture capital and private equity organizations in the United States.

At the same time, M3VG is announcing the completion of a $1.8 million investment in Reno-based Alliance Retail Services, Inc., a provider of equipment services to retail outlets in the grocery, home improvement and general merchandise segments. The investment will allow for Alliance’s expansion, as well as the company’s continued leadership in consolidating their fragmented industry.

"Both the national membership and the announcement of such a significant capital investment in a Nevada company are tremendous milestones for the state as we actively work to diversify our economy," said Lt. Governor Lorraine Hunt, chairman of the Nevada Commission on Economic Development. "The current lack of investment capital activity in Nevada is a serious barrier to technology transfer efforts and the state’s ability to compete in an economy increasingly focused on ideas and alliances." Hunt added, "We truly appreciate the leadership role M3VG has taken and look forward to more announcements from the group, as well as increasing involvement in Nevada by venture capitalists."

Based in Reno, M3VG seeks to invest in companies in Las Vegas, Reno, Carson City, Phoenix and Sacramento. M3VG accepts business plans and financing proposals from Nevada firms and can be found on the internet at m3vg.com.

"We are proud that M3VG will represent Nevada’s fledgling private equity market in an organization as credible as the National Venture Capital Association and we hope we are joined by other Nevada organizations in coming years. It is our belief M3VG’s involvement will lend much-needed attention to Nevada as a place to find sound investment opportunities and growth-oriented thinking," said Robb S. Smith, executive vice president with M3VG. "In addition, as the first private equity fund in Nevada, we are excited to become a strategic equity partner with Alliance Retail Services, Inc. Alliance Retail characterizes the qualities in which we seek to invest: an energetic management team, significant barriers to entry, a technologically-leveragable business model and a substantial customer value proposition."