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PE Week Wire — Monday 7/29

Softricity Inc., a Boston-based developer of an application deployment and management platform, announced today the completion of an oversubscribed $14.6 million third round of venture funding, bringing its total funding to date to $40 million.
New investors TD Capital Technology Ventures and FA Technology Ventures led the round, joined by Hunt Ventures and Markpoint Venture Partners, along with previous investors Prism Venture Partners, Longworth Venture Partners and Technology Link Capital.

Applied Wave Research Inc. and CMEA Ventures today announced the completion of AWR’s Series B Preferred Stock financing totaling $7.4 million.
CMEA, who will be taking an equity position and providing representation on AWR’s board of directors, led the round. The investment will be used to accelerate the development of the company’s high-frequency electronic design automation (EDA) solutions and expand AWR’s worldwide sales organization.

Vestar Capital Partners announced today that it has entered into a definitive agreement to acquire SAB WABCO, a EUR 300 million revenue global producer of brake systems for rail vehicles, from Cardo AB, a publicly listed company based in Sweden.
The acquisition, valued at approximately EUR 230 million, is expected to close in September, subject to receipt of regulatory approvals and other customary conditions. SAB WABCO is a leading manufacturer of brake systems and related products primarily serving the European passenger transit and rail markets. The Company also provides after market repair and maintenance services to rail operators.

InnerWireless Inc., a Richardson, Texas-based in- building wireless systems and services company, has accepted $7 million in new equity capital from Rho Ventures targeted to expand the company’s sales efforts and accelerate the deployment of the company’s in-building wireless systems. To date, InnerWireless has raised a total of $25 million in equity capital. Rho Ventures, a New York-based venture capital firm, focuses on technology and healthcare investments and joins InnerWireless’ list of high-profile venture capitalists including Sevin Rosen Funds, Technology Associates Management Company (TAMC), Massey Burch Capital Corp. and HO2 Partners.

American Capital Strategies Ltd. (Nasdaq: ACAS) announced today it has invested $13 million in 3SI Security Systems to fund the purchase by 3SI of ICI Security Systems, the leading provider of security solutions utilizing tear-gas and dye-based staining to protect currency from bank robbers. ICI Security Systems is a subsidiary of Imperial Chemical Industries plc. American Capital’s investment takes the form of a senior subordinated note with warrants. Lincolnshire Management Inc. is the equity sponsor. GE Capital is providing $20 million in senior revolving term loan facilities. ICI Security Systems management is investing in the common equity.

Alliance Technology Ventures (ATV) announced today the appointment of Dr. Robert Curry as a venture partner. Dr. Curry will be based out of Silicon Valley and will work closely with Mike Henos, managing general partner of ATV, to identify new investment opportunities and help build value into ATV’s existing portfolio of life sciences companies located throughout the United States.

Bringing more than 18 years of investment experience in life sciences companies, his investments have included ATV portfolio companies Atherogenics, Adeza Biomedical, and Sensys Medical, (formerly Instrumentation Metrics). Prior to joining ATV, Dr. Curry served as both a general and a venture partner at Sprout Group, a venture capital affiliate of Credit Suisse First Boston, where he originated the life sciences investment activity. Dr. Curry joined Sprout in 1991 as a General Partner when Sprout assumed management of two public venture capital funds originated by Merrill Lynch & Company, Inc.

FlexLight Networks, an Atlanta-based optical access pioneer delivering the industry’s first Gigabit Passive Optical Networking (GPON) solution for the last mile, today announced that it has received a $1.5 M investment on behalf of the Office of the Chief Scientist, the research and development arm of the Israeli Ministry of Trade. This investment, recognizing FlexLight Networks’ technological innovation and market direction, is intended to support further development of its optical access technology.

MediaQ Inc.
, a Santa Clara, Calif.-based leading developer of integrated circuit (IC) solutions for handheld information devices and next-generation smart mobile phones, today announced that it secured $15 million in Series D financing from existing investors and strategic corporate partners. MediaQ will use the working capital to expand its operational infrastructure to meet the challenges of volume growth in sales and production.

Led by El Dorado Ventures, all of the investors in this round were also participants in earlier rounds of financing. Venture investors included Weston Presidio Capital, Summit Accelerator Fund, and ViVentures. Strategic corporate investors included National Semiconductor (NYSE: NSM) and Infineon Technologies (NYSE: IFX; FSE).