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San Francisco's OffRoad Capital will offer private placements by a major investment bank online, the latest move to give private investors access to the choice morsels once reserved for institutions.
The six-month-old Internet venture has entered an agreement with Robertson Stephens of San Francisco to give OffRoad members access to private equity stakes the investment bank places for its corporate finance clients. Robertson Stephens will offer pieces of its deals to OffRoad, investments that it traditionally has syndicated among institutional investors and its own high-net-worth individual customers.
Robertson Stephens will also make an equity investment in OffRoad, which is a leader in giving individual investors access to pre-public company investment by distributing over the Internet.