Hedge Funds Invests $900,000 In Plenum

Hedge Funds, managed by ICM Capital Management Inc. of Spokane, has made a $900,000 investment in Plenum Communications Inc.

Hedge could invest another $2.1 million to help fund future growth, Plenum spokesman Tim Bader said Wednesday.

Plenum does business as LION Inc., with Lioninc.com as the operating subsidiary.

Lioninc.com, which employs about 25 people in Spokane, manages a database of mortgage rates and products available to brokers throughout the country. The company also offers other Internet-based services to the mortgage industry.

“This Hedge Funds investment is very timely, especially with the encouraging results from our first quarter,” LION Inc. Chairman Jack McMillan said in a statement.

He said the new funding would be used to enhance the company’s Web products and the look of the site, and for general corporate purposes.

Plenum on Monday reported improved operating earnings for the first quarter and positive cash flow at Lioninc.com.

“We’ve been able to do a lot with a limited amount of cash,” Bader said. “We’re making progress compared to a lot of other dot-coms in our industry.”