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Acorn Grasps $16M Series C Placement

19 years ago

Acorn Cardiovascular Inc. of St. Paul, Minn., raised $16.3 million in venture capital last month to further development of its device that is intended to minimize the effects of congestive heart failure. New investors U.S. Bancorp Piper Jaffray and Bessemer Venture Partners joined all of the firm’s existing investors in the offering of Series C […]

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Crossroads Buys EDS’ Alternatives Portfolio

19 years ago

Taking a major plunge into the secondary market, Crossroads Group acquired the entire private equity portfolio of Electronic Data Systems Corp.’s (EDS) treasury group, which includes 15 buyout partnerships and one venture capital partnership. To finance the transaction, the Texas fund manager closed last week on approximately $400 million for a secondary fund, The Crossroads […]

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Fund News – L.A. Venture Community Lures DLJ Bankers

19 years ago

Donaldson, Lufkin & Jenrette appears to be the latest casualty of an affliction that has swept through investment banking groups across Wall Street: the itch to become a principal. Last week, the firm lost two of its investment bankers to the burgeoning venture capital community in Los Angeles as Joe Reece and Steven DesJardins decided […]

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AccessLan Nets $20M Preferred Offering

19 years ago

In a private equity round that will take the company to an initial public offering in 2000, AccessLan Communications Inc. of San Jose, Calif., raised $20 million last month from a syndicate of venture investors. Highland Capital Partners of Boston led the preferred stock offering. Additional venture investors included Tudor Private Equity Fund, The Ignite […]

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BizBuyer Auctions Second Round to CMGI

19 years ago

BizBuyer.com of Los Angeles raised $5 million last month from @Ventures, the venture arm of CMGI, in its second round of venture capital financing. The company operates an online marketplace for small businesses that currently handles auctions for telecommunications connectivity and phone system services – long distance and cellular. Chief Executive Bernard Louvat said the […]

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Pfingsten Closes Fund I With Shift to Fund II

19 years ago

Pfingsten Partners LLC has shuddered its first fund by recapitalizing portfolio company Barjan Growth Products through the $100 million Pfingsten Executive Fund II LP and a co-investment from Allstate Private Equity, a limited partner in the Pfingsten fund. The two groups collaborated to take out the existing investors in East Moline, Ill.-based Barjan in a […]

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Venture-Backed IPOs Fly Past Year Ago

19 years ago

Interest rate worries and the accompanying volatility in the public equity markets have created reams of speculation on when the initial public offering market will slow down. However, the filings just keep on coming and venture-backed companies are leading the charge with bigger offerings and higher post-offer valuations. During the first half of 1999, 96 […]

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Venture Capital Streaming into Content Services

19 years ago

If Marshall McLuhan were reincarnated as a venture capitalist, he would likely bet the house on companies that stream video and audio over the Internet. The late media critic argued that the content of any new medium is always derived from existing media. So, the streaming industry’s use of traditional media to enhance the Internet […]

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Jobs.com Grabs $10M First Round from Idealab

19 years ago

Online recruiting is increasingly common, but compatibility problems continue to be a stumbling block. Dallas-based Jobs.com thinks it has the answer. Idealab Capital Partners (ICP) of Los Angeles invested $10 million in the Web-based job service’s first round of institutional financing. The company bought the jobs.com domain name from a San Diego-based webmaster, after idealab!, […]

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Unity Calls Down $71M Growth Financing

19 years ago

Responding to the need for telecommunications services in secondary markets, Unity Communications Inc. raised $71 million in growth financing last month. The Jackson, Miss.-based company received $20 million in equity from several investors and $51 million in subordinated debt from Newcourt Capital. The equity component came from Harbert Management Corp. of Birmingham, Ala., BB&T Capital […]

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Doughty Hanson Snags Big LBO Public Listing –

19 years ago

Doughty Hanson, the U.K.-based buyout firm, has floated Geberit on the Swiss stock exchange. Shares in Geberit, Europe’s largest sanitary installation systems company, closed at Sfr375 ($243.75) on their first day of trading, after the IPO price was set at Sfr330 per share. Doughty Hanson claims the float is the largest initial public offering of […]

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Investcorp to Boost Funding with Bond Offer –

19 years ago

Global private equity firm Investcorp International has launched a euro 200 million ($207 million) bond through the European medium-term note program in order to supplement its traditional fund raising avenues-private placements and syndicated bank loans. It is the first time the Bahrain-based firm has issued publicly traded bonds that will be used for general corporate […]

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Joseph Littlejohn Rides Bus Purchase to Mexico –

19 years ago

Signaling an increasingly cross-border investment strategy, New York buyout firm Joseph Littlejohn & Levy (JLL) will move production operations of its latest acquisition, a bus manufacturer, to Mexico to cut costs. The firm also has been scouting for deals in Europe. Last month, JLL acquired an approximately 61% stake in MCII Holdings (USA)-the motor coach […]

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Hicks Muse Giddy On Champagne Deal –

19 years ago

Inking its first platform deal in France, Hicks, Muse, Tate & Furst Inc. last month agreed to acquire the Mumm and Perrier-Jout champagne houses from Canadian drinks conglomerate Seagram for $310 million. The Dallas buyout firm will put $100 million in equity into the deal, and bring on board Jean-Jacques Frey, a local businessman in […]

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Dorset Capital Nears Close For Debut Vehicle –

19 years ago

A group formed this winter by three investment bankers with no direct investing experience quickly has rounded up $65 million, which includes capital commitments from three buyout firms. Dorset Capital Management, LLC has scheduled a June 30 first closing on $65 million for its debut private equity fund, said Mark Saltzgaber, a principal. The San […]

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Fund Raising Cools Off as Summer Heats Up –

19 years ago

The favorite expression industry observers have used to describe fund raising for the last three years was that the rising tide lifts all boats. Today, however, G.P.s suddenly are finding more constricted flows of capital, and, as a result, some of their partnerships are experiencing a slack tide in the fund-raising waters. Firms raised $9.674 […]

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G.P.s Shrug Off Slow Deal Volume In Second Quarter –

19 years ago

It’s the case of the missing deals. Most second-quarter indicators pointed to a robust deal market, with general partners claiming strong flow and lenders expressing eagerness to finance. The buyout industry, sources say, has been confidently emerging from last September’s credit market “blip,” and activity has since been stabilizing. So where were the deals? The […]

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Lazard Freres Places Buyout Fund on Hold –

19 years ago

In the midst of a bitter legal battle over the ouster of its real estate fund chief, Arthur Solomon, Lazard Freres & Co. has postponed efforts to launch its new leveraged buyout fund, according to people close to the situation The LBO fund, which featured a target between $500 million and $750 million, originally was […]

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