He had two partners and used $1,600 they had raised in capital.

Ultimately they raised $485,000 in capital in two rounds and valued the company at $3.5 million.

Simmons was hired in 2011 after the company raised $33 million in first round capital.

Over all, nearly $49 billion has been raised in capital for newly public businesses.

More recently, Mexico has led the way with the privatization of its telephone company, which raised $2.3 billion in foreign capital from a stock sale.

Mr. Reed also said the company was determined to raise the equivalent of at least $4 billion in capital over the next several years.

The initial share price was $6, and raised almost $14 million in capital for the company.

Green Bay business men raised $15,000 in new capital to prevent the team from folding.

The Group's initial public offering, which was several times oversubscribed, raised nearly $200 million in new capital.

Later in 1994, the fund raised another $2 billion in capital.