MPM Capital has formed a partnership with Reliance Life Sciences of India, in order to help grow India's life sciences industry. RLS has become a limited partner in MPM's latest fund, which will allocate a portion of its capital for Indian companies. In addition, MPM will provide office space for a RLS investment professional dedicated […]
VideoIQ, a video analytics company, has spun out from GE Security, with $8 million in Series A funding from Atlas Venture and Matrix Partners. As part of the deal, VideoIQ also acquired the core products and patent-pending technology associated with the video analytics business at GE Security.
Razz Inc. has launched as a San Francisco
Bally Total Fitness (NYSE: BFT) has agreed to sell six Toronto-based health clubs to Extreme Fitness Inc., a portfolio company of Falconhead Capital. The deal is valued at approximately Cdn$19.6 million. www.extremefitnessinc.com
Norwest Mezzanine Partners has promoted William Dietz to partner. He joined the firm in January 2001 as an associate, and was promoted to principal in August 2005. www.nmp.com
CIT Group has named Tim Eichenlaub senior managing director, and head of equity sponsors and investment banks. It also named Mitchell Drucker as senior managing director, and head of hedge funds and restructuring advisors. Eichenlaub previously served as head of CIT Sponsor Finance, while Drucker was co-head of CIT Business Capital. www.cit.com
Kevin Park has joined Marwit Capital as an associate, effective June 18. He previously was an analyst with both Mesirow Financial and Robertson Stephens. www.marwit.com
Third Avenue Management has promoted Yang Lie to Director of Research, a newly created position. Lie is senior portfolio manager for Third Avenue's private and institutional advisory business, is currently responsible for overseeing approximately $2 billion in client assets. www.thirdavenuefunds.com
The Mid-Atlantic Venture Association has elected two new members to its board: Don Rainey, general partner with Intersouth Partners, and Sean Stone, senior vice president with SVB Financial Group. Each will serve as three-year term. Michael Murray, managing director with Deutsche Bank, is leaving the board after having served for the past five years. www.mava.org
European Capital has opened a Frankfurt office, which will focus on mezzanine opportunities. It is the firm's third European office