The Collaborative International Dictionary of English v.0.48:

Capitalize \Cap"i*tal*ize\ (k[a^]p"[i^]*tal*[imac]z), v. t.
   [imp. & p. p. Capitalized (k[a^]p"[i^]*tal*[imac]zd); p.
   pr. & vb. n. Capitalizing.]
   1. To convert into capital, or to use as capital.
      [1913 Webster]

   2. To compute, appraise, or assess the capital value of (a
      patent right, an annuity, etc.)
      [1913 Webster]

   3. To print in capital letters, or with an initial capital.
      [1913 Webster]

   4. To supply capital for (an enterprise), especially by
      selling capital stock.
      [PJC]

WordNet (r) 3.0 (2006):

capitalize
    v 1: draw advantages from; "he is capitalizing on her mistake";
         "she took advantage of his absence to meet her lover" [syn:
         capitalize, capitalise, take advantage]
    2: supply with capital, as of a business by using a combination
       of capital used by investors and debt capital provided by
       lenders [syn: capitalize, capitalise]
    3: write in capital letters [syn: capitalize, capitalise]
    4: compute the present value of a business or an income [syn:
       capitalize, capitalise]
    5: consider expenditures as capital assets rather than expenses
       [syn: capitalize, capitalise]
    6: convert (a company's reserve funds) into capital [syn:
       capitalize, capitalise]