Adams Street Partners announces several executive changes

Private equity firm Adams Street Partners has made a number of executive changes to its team. The firm has promoted Jeff Diehl to head of investments while Miguel Gonzalo has been named head of investment strategy. Also, Ray Chan has become the head of risk management and advanced analytics. And, Kelly Meldrum, who was recently promoted to head the firm’s primary investment team, has begun to chair the primary investment committee as Chief Investment Officer Hanneke Smits transitions out of her duties.


Iowa Regents sees success with funds of funds: VCJ

A relatively small handful of LPs rely almost exclusively on funds of funds to pick their venture and private equity fund managers, but few can claim the kind of initial success that the Iowa Board of Regents is seeing with its modest private equity and venture capital portfolio, affiliate magazine Venture Capital Journal reports.


Vy Capital, Adams Street, Industry Ventures invest $44 mln in Scytl

Election modernization company Scytl has secured an additional $44 million from Vy Capital, Adams Street Partners and Industry Ventures under a funding round initiated in April 2014. With the additional investment, Scytl has closed the funding round with $104 million from five new investors: Vulcan Capital, SAP Ventures, Vy Capital, Adams Street Partners and Industry Ventures. Balderton Capital, Nauta Capital and Spinnaker Invest remain significant shareholders in Scytl.


LogRhythm racks up $40 mln

LogRhythm said Tuesday that it has closed $40 million in financing. Riverwood Capital led the round with participation from other investors that included Adams Street Partners, Access Venture Partners and Piper Jaffray. Headquartered in Boulder, Colorado, LogRhythm is a security intelligence firm.


Adams Street Partners’ CIO to leave firm

Adams Street Partners‘ Chief Investment Officer Hanneke Smits has decided to leave the firm. Kelly Meldrum will be promoted to the head of Adams Street Partner’s primary investment team, and will assume Smit’s responsibilities as she transitions out of her role as head of the primary team. Jeff Diehl, a partner on Adams Streets’ direct venture capital/growth equity Team will join Adams Street’s executive committee effective immediately.


Adams Street leads $25.5 mln Series C funding in Visier

Adams Street Partners has led a $25.5 million Series C funding round in Visier, a platform that provides workforce analytics and planning solutions in the cloud. Existing investors Foundation Capital and Summit Partners participated in the funding round. The majority of the capital, $24 million, was sourced from investors, while $1.5 million came from friends and family. Visier also recently announced the appointment of Adam Binnie, previously senior vice president, emerging products at SAP, as head of new markets and innovation.


Telstra Ventures leads funding round for MATRIXX

MATRIXX Software has secured an undisclosed amount of funding. Telstra Ventures led the round with participation from previous backers Swisscom Ventures, Innovacom, Greylock Partners, Adams Street Partners and Tugboat Ventures. In addition to the funding, Mark Sherman of Telstra Ventures has been named to the MATRIXX board of directors. Headquartered in Mountain View, Calif., MATRIXX is a provider of real-time policy and charging solutions.


Adams Street leads $40 mln funding of TeleSign

TeleSign, which provides authentication services of mobile phones, has raised $40 million in a Series B round led by Adams Street Partners. Also participating in the round are March Capital Partners and existing investor Summit Partners. Los Angeles-based TeleSign raised $29 million from Summit in May 2012, according to Thomson Reuters (publisher of peHUB).

VC-backed RadiumOne board fires CEO in wake of guilty plea to battery charges

RadiumOne‘s board of directors has fired Gurbaksh Chahal as CEO and chairman. The firm’s COO Bill Lonergan has been named as Chahal’s replacement. Although no reason for Chahal’s termination was given in the company’s statement on this development, according to various news reports, RadiumOne faced pressure to make this decision in light of Chahal’s recent guilty plea to battery and domestic violence charges against his girlfriend. Based in San Francisco, RadiumOne is a provider of media buying solutions. It is backed by Crosslink Capital, DFJ Espirit, Adams Street Partners and Trinity Ventures.

ProNAi Therapeutics raises Series D

ProNAi Therapeutics, a developer of novel nucleic acid therapeutics has closed an oversubscribed $59.5 million Series D financing. The round was led by Vivo Capital and included other new investors Frazier Healthcare Ventures, OrbiMed Advisors, Adams Street Partners, RA Capital Management, Caxton Alternative Management, Hopen Life Science Ventures, Sectoral Asset Management and Janus Capital Management.


Boundary racks up $22 mln

Boundary said Thursday that it has raised $22 million in Series C funding. Adams Street Partners led the round with participation from Triangle Peak Partners, Lightspeed Venture Partners and Scale Venture Partners. Based in Mountain View, Calif., Boundary is a provider of IT infrastructure monitoring solutions.


Adams Street Partners leads Series E round for ThreatMetrix

ThreatMetrix has closed $20 million in Series E financing. Adams Street Partners led the round. In conjunction with the funding, Dave Welsh of Adams Street Partners has been added to ThreatMetrix’s board of directors. ThreatMetrix is a provider of advanced fraud prevention and context-based security solutions.

VC-backed Q2 Holdings debuts IPO

Q2 Holdings has launched its IPO after pricing 7.76 million shares of its stock at $13 per share. The stock began trading Thursday on the NYSE under the ticker symbol “QTWO.” J.P. Morgan Securities and Stifel, Nicolaus & Company are the lead underwriters. Based in Austin, Texas, Q2 Holdings is a provider of secure virtual banking solutions. Its backers include Adams Street Partners and Battery Ventures.


PE-backed Paylocity debuts IPO

Paylocity has priced over 7 million shares of its IPO at $17 per share. The stock begins trading Wednesday on the NASDAQ under the ticker symbol “PCTY.” Deutsche Bank Securities, Merrill Lynch, Pierce, Fenner & Smith and William Blair & Company are the lead underwriters. Paylocity is a provider of payroll services and human resources solutions. It is backed by Adams Street Partners.

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