PE Week Wire — Monday 9/8


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AttachSTOR Inc., a Phoenix, Ariz.-based provider of email attachment management software, has raised $7.5 million in Series B funding. The deal involves the conversion of a $1.2 million bridge loan closed earlier this year. The new funding was co-led by Canaan Partners and Trinity Ventures, with the bridge loan investors consisting mostly of family trusts and returning angel backers from the company’s $1.6 million Series A deal in 2000. PE Week subscribers can read more on this news in the protected Deal News section of www.PrivateEquityWeek.com.

 

Goldman Sachs (NYSE: GS) has closed its third mezzanine fund with $2.7 billion in available capital. GS Mezzanine Partners III – which a company press release touts as the largest mezzanine fund ever raised — will target investments in the $40 million to $200 million range in North America and Europe. Goldman Sachs began mezzanine investing in 1996 with the formation of GS Mezzanine Partners I with $1.2 billion in available capital, and formed GS Mezzanine Partners II in 2000 with $1.3 billion in available capital. All three funds include commitments from institutional and individual investors, plus Goldman Sachs and its employees.

The University of California on Friday filed an appeal of a Superior Court ruling that it must disclose internal-rates-of-return for its private equity fund investments. The move follows a recent denial of the school’s motion for reconsideration of the initial ruling. PE Week subscribers can read more on this news in the protected Weekly Headlines section of www.PrivateEquityWeek.com.

Therion Biologics Corp., a Cambridge, Mass.-based biopharmaceutical company focused on cancer therapeutics, has received a $39 million Series C-2 funding commitment, of which it already had received $7.3 million. The remaining capital will be provided assuming that Therion meet certain milestones. Investors included SAP AG co-founder Hans Hans-Werner Hector, S.R. One Ltd., H&Q Healthcare Investors, New York Life Bioventure Partners, Aventis Pasteur Ltd. and CDP Capital Technology Ventures.

Storability Software Inc., a Southborough, Mass.-based provider of enterprise storage resource management solutions, has raised $7 million in Series D funding. Return backers included Battery Ventures, Technology Partners, Sprout Group and Lee Munder Venture Partners. Not returning were onetime investors Madison Dearborn Partners and Lightspeed Venture Partners. The company now has raised $66 million since its 2000 inception, including a $30 million Series B round in 2001 at a post-money valuation of approximately $53 million. According to today’s Boston Globe, this new deal was a recap that effectively wrote off all prior investments.

Jungo Software Technologies Inc., a San Jose, Calif.-based provider of residential gateway software, has raised $5.5 million in third-round funding. Partech International led the deal, and was joined by return backers Infineon Ventures, the Intel Communications Fund and TeleSoft Partners.

Odyssey Logistics & Technology Corp., a Danbury, Conn.-based provider of outsourced transportation and logistics services to process manufacturers, has held a first closing on a $24.3 million round of private funding. Trident Capital led the deal, and was joined by Boston Millennia Partners, CMEA Ventures and RRE Ventures. CIBC World Markers agented the deal. Odyssey also announced that it has completed its acquisition of Nordstrom Freighting, a Conn.-based freight-forwarding company.

Thoma Cressey Equity Partners has agreed to acquire Daticon Inc., a Norwich, Conn.-based provider of document management services to the litigation support sector. No deal terms were disclosed, except that CapitalSource Finance provided the senior debt and an equity co-investment.

Metatomix Inc., a Waltham, Mass.-based provider of real-time visibility and integration technology, has raised $8.3 million in Series C funding. Apex Venture Partners led the deal, and was joined by fellow new investor Velocity Equity Partners and certain return backers. Daniel Cahillane has been named chief administrative officer at Northport Partnership Management LLC. He previously served as CFO of Geocapital Partners.

INSCI Corp. (OTC BB: INSS), a Westborough, Mass.-based provider of enterprise content management solutions, has signed an agreement with SCP Private Equity Partners. The Wayne, Pa.-based fund will invest up to $3 million in INSCI through the purchase of newly-issued shares of INSCI Series C convertible preferred stock.

Seminis Inc. (Nasdaq: SMNS ) stockholders have approved a previously announced merger agreement relating to the proposed transaction with Fox Paine & Co., Savia DA de CV (Seminis’ majority stockholder) and certain related parties. Subject to certain closing conditions, including obtaining the necessary financing, Seminis currently expects to complete the merger by the end of September. Following completion of the merger, public holders of approximately 15.1 million Seminis shares will receive cash consideration of $3.78 per share, Seminis will be privately held and Seminis shares will no longer be publicly listed.

Thayer Capital Partners has made an undisclosed investment in MISTRAS Holdings Group, a Princeton Junction, N.J.-based maker nondestructive testing (NDT) technology. Thayer’s investment facilitated MISTRAS’ purchase of CONAM Inspection, one of the nation’s largest NDT service companies. Deal terms were not disclosed.

IXYS Corp. (Nasdaq: SYXI) has completed its acquisition of Microwave Technology Inc., a Fremont, Calif.-based maker of gallium arsenide (GaAs) field effect transistors, pseudomorphic high electron mobility transistors and microwave monolithic integrated circuits. In exchange for the outstanding shares and options of MwT, IXYS will issue approximately 800,000 shares of IXYS common stock (worth around $8.3 million, as of Friday’s market close). As a result of the merger, MwT is now a wholly owned subsidiary of IXYS. MwT had raised venture capital funding from firms like New Enterprise Associates, T. Rowe Price, Ticonderoga Capital, Sequoia Capital and U.S. Venture Partners.

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