“They’re coming to us,” says Scott Cowan, president of Shenoa and Co.  “That says volumes about the strength of our company that venture capitalists want to invest in us.”

Shenoa is one of the fastest growing online jewelers, that offers loose diamonds, colored diamonds and other jewelry at wholesale prices.  The company is has hit record sales numbers that exceed the competition. 

The courting by VCs comes at a time when the diamond jewelry company is considering going public.  Many of the company’s competitors have already gone that route and are being traded publicly.

Venture capital funding is private equity funding that is typically provided to new, growth businesses by professional investors.  They’re generally made as cash in exchange for shares in the new company.

Venture capitalists invested some $6.6 billion in nearly 800 deals in U.S. during the third quarter of 2006, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association. 

About Shenoa:  Founded in 1980, Shenoa and Company is one of the fastest growing online retailers of certified diamonds and jewelry.  With photos, drop down menus and special features, the Shenoa Web site makes it easy and affordable to shop for jewelry.