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Eric Hoffman, COO of Portfolio Company Hoffman Media, gives testimony on Capitol Hill regarding the benefits of small businesses receiving private equity investment.

United States House of Representatives

Committee on Financial Services

“Promoting Economic Recovery and Job Creation: The Road Forward”

January 26, 2011

Eric Hoffman – Written Testimony

“…Hoffman Media successfully raised [money] from BIA Digital Partners and Frontier Capital. This capital raise allowed Hoffman Media to complete a strategic acquisition of a complementary business, Martha Pullen Co., and fund additional marketing and hiring needs. From the period of 2004 – 2010, Hoffman Media was able to grow revenues from approximately $10,000,000 to $40,000,000, while also growing employee count from approximately 20 to 135…The capital raise from BIA Digital Partners is worth explaining further. BIA Digital Partners provided mezzanine debt with warrant coverage to Hoffman Media, which Hoffman Media successfully paid back in 2009. The outcome was a win for all parties involved in that BIA Digital Partners (including their LPs) achieved a nice rate of return on the investment, and Hoffman Media was able to properly fund the growth strategy...The growth would not have been possible without the financial support of BIA Digital Partners (and their LP[s]) …”

For additional information on BIA Digital Partners, please visit our website at www.biadp.com.

About BIA Digital Partners
BIA Digital Partners is a private investment firm, managing approximately $280 million. Financing is available for acquisitions, organic growth, recapitalizations and leveraged/management buyouts among other purposes. BIA Digital Partners maintains a focus on mid- to later-stage companies operating in the media and entertainment, telecommunications, information, education, business and consumer services industries. Investments generally range from $5 to $15 million and are typically in the form of subordinated debt with warrants or preferred equity. For more information on BIA Digital Partners, please visit www.biadp.com.