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[ FAST FACTS HAWAII ]

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Mainland VC firm will invest locally

Ventana Capital Management LLC, a mainland venture capital firm, said yesterday it will soon begin investing in Hawaii high-tech companies.

The Irvine, Calif.-based company has spent two years studying investment opportunities in Hawaii's burgeoning biotech and other high-technology companies and decided to begin making deals after local investors recently put money into one of its technology funds, said Elliot Parks, managing director of life sciences at Ventana.

"If local investors are willing to invest, that gives you confidence in the opportunities here," Parks said.

The local investments and a fund-raising target have prompted Ventana to close its Technology Gateway Partnership II fund to other investors. The fund will invest in high-tech opportunities in Hawaii and elsewhere.

Parks said Ventana is conducting due diligence on investments in several local companies and expects the first deals to be made over the next few months. He would not specify which companies Ventana is looking at, who the fund's Hawaii investors are, or the size of the fund.

ML Macadamia declares dividend

ML Macadamia Orchards LP declared a quarterly cash dividend of 5 cents a unit yesterday to be paid Feb. 15 to unit holders as of Dec. 31. ML Macadamia's dividend, which has remained at the same level for the last four quarters, yields 4.2 percent.