SEATTLE & MENLO PARK, CA — Mohr, Davidow
Ventures (MDV), an early stage venture capital firm recognized by entrepreneurs for its
formative hands-on guidance, today announced the addition of Bill Gossman as a venture
partner in MDV’s Pacific Northwest office.
Gossman will apply his extensive corporate and startup experience to help grow and
develop MDV’s portfolio companies. As virtually all early stage companies are hungry for
additional resources, venture partners at MDV play a significant hands-on role in helping
entrepreneurs clear the hurdles associated with operations, staffing, partnerships or
marketing that can hamper a company’s early stage growth.
SAN FRANCISCO — Newbury Ventures, a San
Francisco-based venture capital firm, today announced closing Newbury Ventures III, LP
at $250 million. This is the third fund for Newbury Ventures, bringing total assets under
management to over $600 million.
Newbury Ventures initially targeted $175 million for its third fund but substantial interest
from both existing and new investors pushed commitments to $250 million. “We are very
pleased to receive strong support from existing investors and we look forward to working
with a new group of partners from around the world,” said General Partner Jay Morrison.
Investors in the new fund include: Alliance Capital Management, Allianz Private Equity,
BancBoston, Bank J. Vontobel, Bell Canada, Dresdner Kleinwort Benson, GE Capital,
Hearst Foundation, Silicon Valley Bank and University of North Carolina.
BOCA RATON, FL — Daleen Technologies Inc.
(Nasdaq:DALN), a global provider of software that manages the revenue chain for
next-generation service providers, today announced that the Company has entered into
definitive agreements with existing and new investors for the private placement of $27.5
million of convertible preferred stock and warrants. The consummation of the transaction is
subject to approval by the Company’s stockholders. Daleen intends to use the net
proceeds from this private placement for general corporate purposes.
The private placement was led by HarbourVest Partners and SAIC Venture Capital
Corporation, with participation by several other existing and new institutional investors
including St. Paul Venture Capital, ABS Ventures, BayStar Capital, Palladin Group, Royal
Wulff Ventures, and the Special Situations Funds.
SAN DIEGO — AirFiber Inc., a developer of wireless
optical networking equipment, today announced the receipt of $50 million in the first
closing of its third round of equity financing.
The round, lead by GM Capital Partners, also included London Merchant Securities and
several of AirFiber’s existing investors.
AirFiber will apply the proceeds to the continued development, sales and marketing,
customer support and distribution of its advanced wireless optical networking equipment.
BASINGSTOKE, UK & NEWARK, CA — iOra
(www.iOra.com), supplier of solutions for managing mobile content, today announced that
it has completed $15 million equity financing that will enable the company to accelerate its
growth in the mobile content management market. Stockholm-based b-business partners
joined London-based Cazenove Private Equity in the equity funding. The funding was
arranged by MTI, the UK’s leading early-stage technology investor who also provided an
earlier first round of funding which enabled iOra to develop its unique mobile infrastructure
technology and products.
BRANFORD, CT — Cellular Genomics Inc., today announced the
completion of a $22 million round of private equity financing led by MPM Capital, together
with AGTC Funds, Inc., Vector Fund Management, and existing shareholders CHL Medical
Partners and Connecticut Innovations, Inc.
Michael Steinmetz, Ph.D., General Partner of MPM Capital, and Noubar Afeyan, Ph.D.,
Managing Partner of AGTC Funds, have joined the Cellular Genomics Board of Directors.