Iris Dorbian
Chicago-based venture capital firm New World Ventures said on Thursday that it has named Carter Cast and Dave Habiger as venture partners. Cast is the former CEO of Walmart.com while Habiger is the former CEO of Sonic Solutions. Also, Kevin Willer, the former president and CEO of the Chicagoland Entrepreneurial Center, has joined the team as strategic advisor to the company.
J. Robert Tyler III has joined Williams Mullen as a partner in the firm's corporate and private equity law practice. Most recently, he worked as a partner at Poyner Spruill. William Mullens is a law firm with offices in North Carolina, Virginia and Washington, D.C.
Channel Mark Ventures, has launched a new fund, ChannelUp Fund, which is designed to expand their technology venture capital investments. According to the company, The ChannelUp Fund will make a minimum investment of $500,000 start-up capital into each investment. Channel Mark Ventures is a seed and early-stage venture capital firm focused on information technology start-ups and individual entrepreneurs.
OMNIPLEX World Services Corp., a portfolio company of Altamont Capital Partners, said on Wednesday that it has named Philip T. Sweeney as executive chairman. Sweeney will also serve as OMNIPLEX Holdings Corp's chairman of the board of directors. Also, Michael S. Santelli, who currently serves as the company's COO, has been named president. Based in Chantilly, Virginia, OMNIPLEX World Services Corp. is a provider of background investigations and security services.
Kevin Kimsa has joined OMERS Ventures, the venture capital investment division of the OMERS pension plan, as a venture partner. In his new position, Kimsa will support both early and later-stage growth portfolio companies in the North American market, with a focus on the technology, media and telecommunications sectors.
Ghost Group said on Wednesday that it has launched Emerald Ocean Capital, a fund that invests in companies and technology focused on the legal cannabis and medical marijuana sector. Based in Southern California, Ghost Group is a venture capital firm focused on the emerging marijuana industry.
Labor Aiding Systems, a provider of assembly equipment for automotive seating and interior trim applications, has been bought by a new entity formed by private investor Joe Simon. No financial terms were disclosed. Angle Advisors acted as the investment banking advisor to LAS for this transaction.
Salesforce.com has agreed to buy ExactTarget in a transaction valued at approximately $2.5 billion. Terms of the deal call for Salesforce.com to make a tender offer for all of ExactTarget's outstanding shares at $33.75 per share cash. The transaction, expected to close by the end of July, has been approved by boards for both companies. ExactTarget shareholders include Greenspring Associates, Technology Crossover Ventures and Battery Ventures. ExactTarget is a cloud marketing platform. BofA Merrill Lynch advised Salesforce.com while JP Morgan advised ExactTarget.
Delivery.com, LLC, an online service that connects customers to local businesses, said on Tuesday that it will buy the key assets of Brinkmat, LLC. This acquisition includes Brinkmat.com, a New York-based site for free local pick-up and delivery of laundry, dry cleaning and tailoring. No financial terms were disclosed. Delivery.com is a portfolio company of Cantor Ventures, the venture capital and enterprise development division of Cantor Fitzgerald.
Umpqua Holdings Corp., parent company of Umpqua Bank and Umpqua Investments, said on Tuesday that it has signed an agreement to acquire Financial Pacific Holding Corp. for $158 million in cash. FinPac is currently a portfolio company of Flexpoint Ford LLC, a Chicago-based private equity firm. Based in Federal Way, Washington, FinPac is the parent company of Financial Pacific Leasing, LLP, a provider of commercial equipment leases and loans.