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JACKSONVILLE,Founded in 1997 by the heir to a supermarket fortune, Lovett Miller & Co. invests in an array of industries, from software to retail, at various stages, from early funding to expansion capital, and in different locations, from Seattle to suburban Chicago to southern Florida.

The Jacksonville, Fla.-based firm has $175 million under management and usually invests between $2 million and $10 million in a portfolio company. Its primary focus is on companies that reduce business transaction costs while enhancing customer service.

Radford Lovett’s grandfather founded the Piggly-Wiggly grocery chain and the predecessor to the Winn-Dixie chain. The younger Lovett has a background in the wireless communications industry and helped invest the family money before teaming up with partner Scott Miller to start the firm. Miller comes from an investment banking background.

Lovett Miller’s portfolio includes human resources software developers Peopleclick of Raleigh and Employease of Atlanta, professional services automation provider Novient of Atlanta and wireless infrastructure company TowerCom Enterprises of Atlanta.

Here’s the skinny:

Featured Firm: Lovett Miller & Co., Inc.

Mailing address: 1 Independent Drive, Jacksonville, FL 32202

Phone number: (904) 634-0077

Web site:
www.lovettmiller.com

Management Team:

W. Radford Lovett II
W. Scott Miller

Focus of firm: Based in Florida, with operations in Jacksonville and Tampa, Lovett Miller provides equity capital to rapidly growing, privately held companies across the Southeast.

Size of current fund: $40 million

Money under management: $175 million

Companies funded over the last five years:

360Commerce, Inc.
Clear, Inc.
Cytura, Inc.
Employease, Inc.
Force and Motion, Inc.
Global Trade Technologies, Inc.
Go Software, Inc.
Highlander Engineering, Inc.
iLIANT Corporation
Jibe, Inc.
Key-Trak, Inc.
Novient, Inc.
Peopleclick, Inc.
PowerTel, Inc.
ServiceWare, Inc.
TowerCom Development, LP
TowerCom Enterprises, LP
TowerCom, Limited
Alphamed, Incorporated
Proxima Therapeutics, Incorporated
Southeast Healthplan, Inc.
Southern Assisted Living, Inc.
Gold Coast Restaurants, Inc.
MARS, Inc. / MARSMusic.com, Inc.
Alliance Mortgage
Professional Project Services, Inc.
Southcoast-Boca Associates

How many new deals do you expect to fund in 2002: Four to seven

In what size range: $2 million to $10 million

Sweet Spot (types of deals, stage of the company): Broad range of financings including early stage, growth capital and growth buyouts; particularly interested in investments that can compound their value over a 10-year timeframe.

Most important attributes for companies seeking funding: Product or service edge which will enable them to become industry leaders; companies that reduce business transaction costs while also enhancing customer service and have proven customer acceptance of their product or service.

What differentiates you: Level of experience: have successfully exited 14 investments, and eight affiliated companies have completed initial public offerings, raising $762 million of public equity and $1 billion in public debt. Additionally, the our principals have started two companies from the business plan stage and led the development of those enterprises until successful exit; broad contact base enables the firm to source more customer relationships and potential employees than most competitors and our portfolio is diversified by industry and stage of company development.

Tuesday’s profile: Piedmont Angels

Note: Previous profiles can be found by going to Search, selecting the Venture Watch category and setting date parameters Feb. 1 and today.