By Susan Kroft, May 4, 2007

Global Association of Billionaires and Millionaires (GABM) has launched yet another $ 1 billion venture capital fund, which is again funded exclusively by its associate members.

The BDP Private Equity Fund is the third $ 1 billion private equity fund established by GABM to invest in lucrative business start-ups, mergers & acquisitions, MBO's, MBI's, LBO's, IPO's, corporate restructurings, property developments, business development and commodity trading transactions all over the world.

The minimum investment of the fund will be $ 1 million and projects from all industries will be considered for investment and funding purposes.

Mr. Mark Paulsmeier, President of GABM, has indicated that they are extremely excited about the GABM associate members' support and investments in these funds. Fifty percent of the profits generated by the GABM capital funds are utilized to fund the GABM organization's global philanthropic programs.