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Wavtrace Rakes In $24M Third Round

20 years ago

In what should be the company’s last private round prior to achieving positive cash flow, Wavtrace Inc. of Bellevue, Wash., raised $24.2 million in late June from strategic and venture investors. Strategic investor Harris Corp. of Atlanta invested $10 million to lead the round. In addition, the two companies struck an agreement through which Harris […]

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Vesta Insures $25M Preferred Offering

20 years ago

Vesta Insurance Group Inc. of Birmingham, Ala., recently placed $25 million of preferred stock with Birmingham Investment Group LLC, according to a Securities and Exchange Commission filing. The company sold 2.95 million shares of Series A convertible preferred stock to Birmingham at $8.50 per share. Each preferred share is convertible into two shares of common […]

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Petopia.com Raises $66M to Fund July Launch

20 years ago

Petopia.com is the latest Internet-based retailer of pet products to receive venture capital backing, raising $66 million July 12 in its second round of financing. Since March, venture firms have invested more than $125 million in the pet niche. Corporate investor PETCO Animal Supplies Inc. of San Diego led the Series B round and has […]

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Oak Hill Capital Invests in In-Flight Phones

20 years ago

As advertised, Oak Hill Capital Partners is starting to make contrarian investments that have some general partners scratching their heads. Last month, the New York-based firm agreed to buy GTE Airfone from the telecommunications parent company for an undisclosed amount. GTE Airfone operates in-flight payphones on commercial airlines. GTE had been looking to shed the […]

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Internet Diamonds Shine Anew

20 years ago

While a diamond may last forever, the amount of time between venture rounds for an Internet-based diamond retailer can take less than two months. Internet Diamonds of Seattle received an investment from Kleiner Perkins Caufield & Byers late last month, six weeks after raising $6 million in its first institutional venture round. Existing investors Trinity […]

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NextMonet.com Makes Impression on CMGI

20 years ago

As more retail categories become colonized by entrepreneurs in the great electronic gold rush of the late 1990’s, the e-commerce companies that succeed must attract regular consumers of the product and attract individuals that feel disenfranchised from buying the product in its traditional environment. NextMonet.com of San Francisco hopes to attract art lovers who are […]

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BrandsForLess.com Gathers $9M More

20 years ago

Can less be more in the information age? BrandsForLess.com of Stamford, Conn., hopes so. Rather than overwhelming potential electronic shoppers with volume, the company presents only a select group of suppliers that other shoppers have identified as high-quality service providers to post goods on the site. Last month, the company raised $9 million in its […]

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MGI Software Raises $10M for Acquisitions

20 years ago

Publicly traded MGI Software Inc. raised $10.5 million through a private placement of 4.8 million shares of stock to finance its acquisition of Live Picture Inc. and the software digital video disk (DVD) assets of Zoran Corp. The Toronto-based company develops digital imaging and video editing software for the personal computer. The financing, which closed […]

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Totally Wireless Raises $14M for Portal

20 years ago

After spending more than ten years as a brick-and-mortar retailer of wireless products and services, Totally Wireless of Fremont, Calif., raised $14 million in its first institutional round of venture financing. U.S. Venture Partners of Menlo Park, Calif., led the round with a $6 million investment in the Series B offering. U.S. Venture Partners had […]

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Investors Funnel $14M into Neose PIPE

20 years ago

Publicly traded biotechnology developer Neose Technologies Inc. raised $14.25 million two weeks ago in its first return to the private equity market since going public in 1997. Neose raised the money from a syndicate of private equity investors that included Nomura Switzerland. The company retained Paramount Capital of New York as a finder for a […]

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Acorn Grasps $16M Series C Placement

20 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

20 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

20 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

20 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

20 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

20 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

20 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

20 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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