Arthur Rock, an early investor in Apple, Intel and Scientific Data Corp., received the LIfetime Achievement in Venture Capital award from the National Venture Capital Association today for his five decades of work in the industry. At the second day of its annual conference in Santa Clara, Calif., the NVCA also honored Steve Fredrick, a [...]

Connecticut’s VC portfolio boasts an overall IRR of nearly 13%, but eight of the 13 funds it has backed have negative IRRs.

Invincea, a provider of malware threat protection via virtualization, has secured $5.1 million in new funding. The company has also announced the acquisition of high profile talent from HP/ArcSight and RSA/NetWitness. The round of growth capital was led by Harbert Venture Partners, Grotech Ventures, and New Atlantic Ventures to expand Invincea’s corporate sales, engineering, and [...]

LogiXML said it closed a $10 million growth equity investment led by Summit Partners. Also participating in the round is existing investor Grotech Ventures. LogiXML investors now include Summit Partners, Grotech Ventures and Updata Partners. PRESS RELEASE Summit Partners Leads $10 Million Growth Equity Investment in LogiXML Funding Will Accelerate LogiXML’s Growth in the Business Intelligence Software [...]

Colorado-based NexGen Storage has closed a $10 million round led by new investor Next World Capital. Existing shareholders Grotech Ventures and Access Venture Partners also contributed to the round.

Early stage investor Grotech Ventures has promoted Lawson DeVries to general partner. Prior to joining Grotech, Mr. DeVries was an associate in the equity research division of Deutsche Bank and an associate at financial research firm Buckingham Research Group. DeVries has a Bachelor of Arts from Harvard University and an MBA from Duke University’s Fuqua School of Business.

GramercyOne, a maker of cloud-based business and marketing software, has sealed $14.5 million in Series A financing, the company announced Wednesday. Revolution Ventures led the investment round, with Grotech Ventures, TDF, and Jubilee Investments providing the remainder of the funding. GramercyOne launched in 2010 and is based in New York.

6fusion, a maker of utility-metered public, private and hybrid cloud infrastructure management software, has closed on $7 million from Grotech Ventures and Intersouth Partners. Vienna, Vir.-based Grotech led the round, which will help the company continue technology development and sales and marketing, as well as fund a move of the business to Raleigh, N.C.

Some venture capital firms are tweaking term sheets’ language to prevent entrepreneurs from making big secondary market exits before VCs can get their cut, multiple sources tell peHUB. New restrictions turning up in term sheets include requirements that founders do not sell more than 10% of their stake via secondary transaction and, separately, that founders [...]

(Reuters) – LivingSocial has picked Bank of America Merrill Lynch, JPMorgan and Deutsche Bank to lead-underwrite an IPO that could value the daily deals site at $10 billion to $15 billion, two sources with knowledge of the matter said.

The three banks declined to comment.

LivingSocial, runner-up to Groupon in the fast-expanding daily deal market, is the latest Internet startup seeking to woo investors keen to pile into social media companies from LinkedIn and Twitter to Zynga and Facebook.

In April, LivingSocial raised $400 million in a round of funding that included LightSpeed Venture Partners and Amazon, giving it a value of about $3 billion.

To date, LivingSocial has raised $648 million in