Chris Witkowsky
Square 1 Bank has provided a $4 million credit facility to Berkeley, California-based GTxcel, a digital publishing solutions business. GTxcel will use the financing for working capital to support the company's growth.
TeamSnap, a service that helps users manage sports teams and activities, has raised $7.5 million in Series B funding led by new investor Foundry Group. Existing investors Torstar, Trinity Ventures, Toba Capital and Harris Barton also participated in the round. Foundry Group's Jason Mendelson is joining TeamSnap's board.
The Perot family, through its private equity group, has made an equity investment in GuideIT, which provides customized information technology solutions. GuideIT began in February 2013 with an initial focus on the healthcare industry.
H.I.G. Capital has opened a Milan office and named Raffaele Legnani as managing director to lead the firm's efforts in Italy. H.I.G. Europe has a team of more than 50 investment professionals based in Europe operating out of offices in London, Hamburg, Madrid and Paris. Legnani was previously a founding partner of Atlantis Partners in Milan.
John Connaughton and Christopher Gordon, from Bain Capital and Kenneth Freeman and James Momtazee, from Kohlberg Kravis Roberts, have stepped down from the HCA Holdings board of directors. One representative from each of Bain and KKR remain on the board. Meanwhile, the board has appointed new directors Nancy-Ann DeParle, Robert Dennis and John Rowe as independent directors.
Pamlico Capital has acquired a majority interest in Franklin, Ohio-based Valued Relationships, a provider of healthcare monitoring. Value Relationships' chief executive officer Chris Hendriksen and president Andy Schoonover will keep significant ownership stakes in the company and continue to manage in partnership with Pamlico.
Drive Capital has closed its debut Drive Capital Fund I on $250 million to invest in early and growth-stage companies across the Midwest. Drive will partner with founders of businesses in technology, healthcare and consumer industries. Drive Capital was formed by Mark Kvamme and Chris Olsen.
Horizon Technology Finance Corporation led an $8 million venture loan for AccuVein, which develops vein illumination technology. Horizon committed $4 million of the financing, which was fully funded at closing.
Flashnotes.com, a student-to-student study materials market, has raised $3.6 million in Series A funding led by Stage 1 Ventures. Runa Capital, Soft Bank Capital and Atlas Venture participated in the round.
Remind101, a free communications platform for teachers, has raised $15 million in Series B funding led by Kleiner Perkins Caufield & Byers. KPCB general partner John Doerr has joined Remind101's board. The funding round includes participation from existing investors including Social+Capital Partnership and First Round Capital.