Venture Money Funds Drinks Site

March 22, 2000

DRINKS.com, an Internet source of wine, spirits and beer products at reduced prices, has secured $15 million in venture capital funding to expand into additional markets and increase the company's marketing efforts.

Lead investors were Wasserstein Perella, Swander Pact Capital, CIT Venture Capital and the partners of Texas Pacific Group. Raffles Capital Group served as a financial advisor to DRINKS.com and arranged the financing.

DRINKS.com is an Internet source of wine, spirits and beer products and information, offering what it says are the best prices and delivery in 48 hours.

Wasserstein Perella is an international investment bank the provides advisory services, equity and debt underwriting, merchant banking and other asset management services worldwide.

Swandler Pact is a San Francisco-based private investment firm specializing in value-added investing in consumer products companies.

CIT Venture is part of a $50 billion commercial finance company and has made equity investments in early to late state technology companies focusing on the commerce, Internet, software and telecommunications industries.

Texas Pacific Group is a private investment partnership with capital of more than $7 billion.