KPE raises $21.5 million in new capital

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New York-based interactive shop KPE raised $21.5 million in cash from investors Wasserstein Adelson Ventures, Clarion Capital Partners, Grey Advertising, KPE management and private investors. KPE CEO Mark Patricof said the agency will use the funds to increase its portfolio of investments in early-stage Internet ventures, to make strategic acquisitions and to expand its operations in New York, Los Angeles and London. Grey will remain the majority shareholder.

Copyright November 1999, Crain Communications Inc.

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