The following ventures have supplied information on how they are being financed. Link the type and sources of financing to where each venture is likely to be in its life cycle.

A. Voice River provides media-on-demand services via the Internet. Voice River raised $500,000 of founder’s capital in April 2008 and “seed” financing of $1 million in September 2008 from the Sentinak Fund. The firm is currently seeking $6 million for a growth round of financing.

B. Electronic Publishing raised $200,000 from three private investors and another $200,000 from SOFTLEND Holdings. The financial capital is to be used to complete software development of e-mail delivery and subscription management services.