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Solar cell maker Solexel bags $31 mln

Solexel has closed $31 million in financing. The investors included GAF, Kleiner Perkins Caufield & Byers, Technology Partners, DAG Ventures, Northgate Capital, GSV Capital Corp. Gentry Venture Partners and Jasper Ridge Partners. Based in Milpitas, Calif., Solexel is a solar cell and module maker.

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Fund performance: Technology Partners, TCV, Weston Presidio see gains: VCJ

Institutional Venture Partners and Landmark Partners hold the top positions in the San Francisco Employees’ Retirement System’s mid decade venture portfolio, affiliate publication Venture Capital Journal reports. But funds from Weston Presidio, Technology Partners and Technology Crossover Ventures were the most improved through the middle of last year.

H.I.G. BioVentures leads Series C round for ForSight VISION5

ForSight VISION5 has closed $15 million in Series C financing. H.I.G. BioVentures led the round with participation from previous backers Morgenthaler Ventures, Versant Ventures, Technology Partners and Delphi Ventures. Concurrent with the funding, Aaron Davidson of H.I.G. BioVentures has been added to ForSight VISION5’s board of directors. Based in Menlo Park, Calif., ForSight VISION5 focuses on developing products that replace eye drops.

Deeya Appoints Non-Exec Chairman

Energy storage system provider Deeya Energy has appointed Ravi Sharma, as non-executive chairman of the board of directors. Sharma joined Deeya Energy’s board of directors in late 2012.

Akros Silicon Secures Financing and New Investor

Akros Silicon, a supplier of intelligent energy management ICs, has secured additional financing bringing total funding in the company to $11 million. Technology Partners led the round as well as existing investors USVP, Levensohn Venture Partners and SPM Capital. Akros has also welcomed Marc van den Berg from Technology Partners to its board of directors.

Benvenue Medical Appoints Two to Board

Benvenue Medical, a developer of minimally invasive solutions for spine repair, has appointed two new members to its board of directors. Thomas M. Prescott, president and CEO of Align Technology and Thomas C. Wilder, president and CEO of Sequent Medical are both experienced in bringing medical technologies to the global marketplace. Investors in Benvenue Medical […]

Solar Startup Solexel Raises $25M, According To Filing

Solar startup Solexel has raised $25 million in new capital, according to a filing with the Securities and Exchange Commission. No other details about the funding were available. The company received Series A financing in 2007 and a Series B round in 2008. Its board includes representatives of Kleiner Perkins Caufield & Byers, Technology Partners […]

Medley Health Raises $20M Series A to Help Doctors Manage Practices

Medley Health, which provides physician practice management services, announced Wednesday that it had raised $20 million in Series A financing from Cardinal Partners, Technology Partners and Vivo Ventures. The Dublin, Calif.-based company says it will use the capital to expand its physician partnerships, invest in its practice management services and boost staffing. “As a physician, I understand firsthand […]

Transcend Medical Sews Up $51M Series B

Transcend Medical Inc., a Menlo Park, Calif.-based ophthalmic device company, has closed a second tranche of its Series B round, bringing the total to an eye-popping $51 million. Investors include Investor Growth Capital, Canaan Partners, Finistere Ventures, HLM Venture Partners, Kaiser Permanente Ventures, Latterell Venture Partners, Morgenthaler Ventures, Split Rock Partners and Technology Partners. The company says it will use the funds to develop additional infrastructure and resources for a U.S. study of its micro-stent technology. The company is focused on minimally invasive glaucoma therapies.

Revance Therapeutics Closes on $45M

Revance Therapeutics Inc., a drug developer focused on dermatology and aesthetic medicine, has raised $45 million in new capital from Essex Woodlands Health Ventures, NovaQuest Capital, CNF Investments, Vivo Ventures, Technology Partners, Shepherd Ventures, Palo Alto Investors, Pac-Link Ventures and Essex Capital Corporation. Jonathan Tunnicliffe, a partner at NovaQuest, will join the Revance board as a result of the round. Revance closed a $25.62 million in Series D funding in late 2009.

Benvenue Medical Wraps Up $35.5M in Series C

Benvenue Medical Inc., a Mountain View, Calif.-based developer of minimally invasive solutions for spine repair, has closed a $35.5 million Series C round. Domain Associates and Technology Partners co-led the round, which included support from existing shareholders Versant Ventures and DeNovo Ventures. Nimesh Shah, principal at Domain Associates, and Roger Quy, general partner of Technology Partners, will join the board as a result of the round.

VCs Put More Money to Work in Fewer Deals in Q1: Report

Investment dollars inched higher in the first quarter as venture capitalists favored later stage deals and returned with interest to cleantech and life science, according to the MoneyTree Report by PricewaterhouseCoopers LLP and the National Venture Capital Association (NVCA), based on data from Thomson Reuters.

U.S. venture firms put $5.9 billion to work in the first three months of 2011, a 13% rise from Q1 2010 and a 5% increase from the fourth quarter, according to the report.

Seeking Profits in Chin Fat

Uncertainties around health care reform and the complexities of medical reimbursement weighed heavily on the business models of most presenting companies at this week’s J.P. Morgan Healthcare Conference. Not so, however, for Kythera Biopharmaceuticals, a Calabasas, Calif.-based developer of cosmetic treatments that took the stage yesterday to talk up prospects for what it sees as […]

Abound Solar Raises $110M in Equity, Seals $400M Loan

Abound Solar, which is developing cadmium telluride, thin-film photovoltaic solar modules, has inked a $400 million loan guarantee from the U.S. Department of Energy. The company has also raised $110 million in equity financing, bringing the total equity raised to $260 million. Existing investors Invus Group, Bohemian Companies, DCM and Technology Partners participated in the new round. New investors BP Alternative Energy Ventures and West Hill Companies also participated. The funding will help Abound Solar expand its manufacturing capacity at sites in Colorado and Indiana.

Investing with (and in) Brains

The brain is a promising area for growth investments. Yet lately, it hasn’t produced a whole lot of exits.

Those are some takeaways from an interview earlier this week with Roger Quy, a neuroscience Ph.D. and general partner at Technology Partners who has carved out a niche investing in what might be called the “brain space.”

It’s a focus area involving companies applying advancements in brain science to everything from mental illness therapies to market research. And while in some ways it’s a classic growth sector – particularly with advances in research promising treatments for diseases previously considered uncurable – it’s also a challenging one, Quy pointed out in Q&A sessions, excerpts of which follow:

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