Private Equity Week Wire

ANNAPOLIS, MD — iJET Travel Intelligence, the
groundbreaking intelligence agency for the travel industry, has secured another $8.1
million in venture capital.

The new money will give the Annapolis-based company the cash needed to execute its
innovative business model of providing real time travel intelligence and customized travel
services to corporate travel managers, travel agents and international business and
leisure travelers.

BOSTON — Beacon Photonics announced today the creation of its second vertically focused venture capital development company, Beacon Life
Sciences.
Joseph F. Lovett, an experienced health care executive and venture capitalist, has been hired as Beacon Life Sciences’ president. The organization has an initial $4 million commitment
from Beacon Photonics. Currently, it is considering its first investments and is starting its fundraising.
The new organization is the first Venture Capital Development Corporation that concentrates on life sciences applications of photonics technologies. Beacon Life Sciences will pool
photonics technologies on a worldwide basis in certain areas to form new companies based upon cutting edge, cost effective breakthrough and revolutionary technologies with
“homerun” potential on a proactive basis.

NEW YORK — Atlantic Technology Ventures, Inc. (Nasdaq: ATLC) announced that today it received a Nasdaq Staff Determination indicating
that the Company fails to comply with the one-dollar minimum bid price requirement for continued listing set forth in Marketplace Rule 4310 (c)(4), and that its securities are, therefore,
subject to delisting from The Nasdaq Small Cap Market.
Prior to the June 28, 2001 Nasdaq deadline, the Company plans to request a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. This hearing
request will stay the delisting of the Company’s securities pending the Panel’s decision. The hearing will be scheduled within 45 days of the date that the request for a hearing is filed.
During the hearing, the Company intends to request, based on its particular circumstances, an extension of the time allotted to raise its share price. There can be no assurance the Panel
will grant the Company’s request for continued listing.

BEND, OR–Serveron Corp., announced today that the company has received financing totaling $16.5 million.
The investment will fuel aggressive growth for Serveron, the electric power industry’s first dedicated provider of turnkey equipment and services to monitor the health of electric
generation, transmission, and distribution substation equipment. Nth Power Technologies of San Francisco, a venture fund focused on energy related technologies and businesses,
served as lead investor for this round of funding. Nth Power was joined by Ventures West of Vancouver, BC, a fund with several investments in the energy field; Perseus LLC, a
Washington, D.C and New York based private equity firm with a wide range of investments in technology companies; ECT Merchant Investments Corp., an affiliate of Enron North
America of Houston, TX, a corporate venture fund focused on energy related businesses, and Cascadia Pacific Management and Oregon Life Sciences, LLC based in Portland, Oregon.

BURLINGAME, CA — Guava Technologies Inc. today announced the completion of its second round of venture financing. Guava, founded in 1998, has secured significant financing from leading biotech
venture capital firms to develop proprietary, accessible micro volume cell-based assays for the life science research markets. ProQuest Investments and Abingworth Management led the
latest $17.5 million round of financing. Other investors include St. Paul Venture Capital, Guava’s prior round investor, Skyline Ventures, and Fog City Fund.

CHICAGO — ShowingTime.com, a lead-capture
company creating the industry standard way for homebuyers to request appointments to
see homes for sale, has closed $2.2 million in Series B financing from venture and private
investors in Chicago. Leading the round were Dodi Ventures LLC and LaSalle
Investments.

The new money allows for increased marketing and an accelerated product development
plan.

SAN FRANCISCO — meVC Draper Fisher Jurvetson Fund I (NYSE:
MVC), an information technology venture capital fund providing individual investors access
to venture capital investments, today announced a $2 million Series C investment in
ProcessClaims, a provider of innovative electronic claims solutions for the automotive
claims industry. Other investors in the round, which totaled $4 million, included Big Sky
Partners. Peter Freudenthal, Chairman, President, CEO, and Founder of meVC, and Vice
Chairman of the meVC Draper Fisher Jurvetson Fund I, will serve as Chairman of
ProcessClaims’ Board of Directors.

MISGAV, ISRAEL — Medgenics Inc., an early stage US/Israel biotechnology company, announced today that it has completed its Series A funding round, raising $7 million from three leading venture
funds: Alta Partners (US), Koor Corporate Venture Capital (Israel) and Alta Berkeley Venture Partners (UK).
Medgenics is developing a new, cost effective, long term and patient friendly way to treat a wide variety of diseases, using genetically engineered tissue to produce therapeutic proteins
in the body. Through its wholly owned Israeli subsidiary, Biogenics, Ltd., Medgenics owns the exclusive license to a recently patented breakthrough for the long term delivery of
therapeutic proteins, called the Biopump(tm). Based upon tissue and genetic engineering, the Biopump(tm) offers a unique platform technology using a patient’s own skin, that enables
the safe, long term production and delivery within the body of virtually any therapeutic protein for a wide range of applications in medicine. Without most of the drawbacks of gene
therapy, the Biopump(tm) has the potential to replace the current protein delivery model that consists of multiple protein injections that are highly expensive, uncomfortable and often
produce complications.


REDMOND, WA — RadioFrame Networks Inc., a provider of indoor voice and data systems that improve wireless clarity, coverage and
connectivity, today announced a $1.5 million USD investment by Orange Ventures, the venture capital arm of Orange SA, one of the largest mobile communications companies in the
world with more than 30 million subscribers and presence in over 20 countries worldwide.
Ignition, a telecommunications and network infrastructure holding company founded by former Microsoft and McCaw Cellular senior executives who helped revolutionize the Internet,
personal computing and wireless technologies; and Nextel Communications joined Orange Ventures to close round two, totaling $7 million.

NEW YORK — GiftCertificates.com, the leading provider of gift certificates and related services for corporate clients and consumers, announced
today that it has secured $21.7 million in private financing, which includes a $7.5 million line of credit from Imperial Bank, one of the nation’s leading providers of financial services to
mid-sized companies including some of the fastest growing industries, such as technology, entertainment, manufacturing, distribution, and residential construction. The company plans
to use the additional financing to support general operating expenses, including inventory financing, additional technology investments, and marketing initiatives.

SAN JOSE, CA — Eastman Kodak Co. today announced the expansion of the company’s venture capital operations in Silicon Valley.
The new Kodak Venture Group headquarters, located at 100 Century Court in San Jose, house five employees from the Venture Group, as well as the company’s Developer Relations
team and members of its Systems Concept Center, which is part of Kodak’s Research and Development organization.
The company launched Kodak Venture, its venture capital arm, in October 2000 to invest in early-stage technology that promises to expand the picture business and enhance Kodak’s
leadership role in the industry.

MALIBU, CA — CurtCo Media Labs, a highly successful
developer of publishing companies since 1987, today announced the acquisition of
the international affluent lifestyle magazines Robb Report and Showcase from
Luxury Media Corporation of Acton, Mass. The acquisition is the first step for
a new partnership between CurtCo Media and TD Capital Communications Partners, the global private equity arm of TD Securities. The new company is CurtCo Robb Media LLC.

NEW YORK — Concerns about the economy, difficulty in financing deals, declines in stock market valuations and new-found caution among corporate buyers are signaling a lull in mega-deal activity, according to the mid-year M&A forecast by PricewaterhouseCoopers’ Transaction Services group. While some bright spots remain – particularly with well-financed European acquirers and potential activity in financial services and energy – recovery may not happen until well into 2002.

BOCA RATON, FL — Sun Capital Partners, Inc., a Boca
Raton-based private investment firm, announced today that one of its affiliates, HealthPlan
Holdings, Inc., has acquired HealthPlan Services, Inc., American Benefit Plan
Administrators, Inc., Southern Nevada Administrators, Inc. and Montgomery Management
Corporation from Plan Vista Corporation (NYSE: PVC).

HealthPlan Services, Inc. is a leading third party administrator focused primarily on the
small business and individual marketplace, providing marketing, administration,
technology and distribution outsourcing solutions to health care providers, such as
insurance companies, preferred provider organizations and health maintenance
organizations. Based in Tampa, Florida, the company serves over 100,000 businesses,
covering over 1.5 million members in the United States.

LOS ANGELES — ResponseBase, a leading direct marketing infrastructure provider, today announced it received its first round of funding,
led by TTMM LP. The investment enables ResponseBase to expand its global direct marketing services and continue to secure category-leading clients that benefit from its innovative online approach to acquiring and retaining customers. ResponseBase currently manages more than 2 million customer profiles for its clients and ResponseBase-owned Web properties. ResponseBase was founded by Internet marketing veterans from the direct marketing, publishing and technology sectors.

DALLAS — The Feld Partners Investments, L.P. today
announced that it has formed Feld Ventures to work with start-up companies to
bring innovative technology products and services to the Fortune 500 and
enterprise market. Feld Partners Investments, L.P. is best known as the
holding company for the Feld Group, a technology leadership-consulting firm
for Fortune 500 companies that want to transform themselves into category
leaders. Feld Ventures is based in Boulder, Colorado, and headed by Mike Koehler,
formerly Chief Operation Officer of the Feld Group, who has been named
Managing Partner. Feld Ventures will invest intellectual and financial
capital in emerging technology companies that will provide professional
services, software or hardware that can enable and transform large businesses
seeking to improve operations and business results.

WESTMINSTER, COLO — Latis Networks, Inc.,
an operating service provider, announced it has closed today a $21.4 million
Series A financing round led by SBVC (SOFTBANK Venture Capital).
In addition to SBVC, participants in the funding round include 3i, Feld
Ventures, angel investors, and Latis’s co-founders. Latis plans to use the proceeds to formally launch the company’s SmartGrid(TM) — a scalable network of networks. SmartGrid connects enterprises as well as Internet-based service providers to a rapidly growing worldwide network of data centers and bandwidth providers.

GOTEBORG, SWEDEN — Bure Equity is investing SEK 40M in Celemiab Group AB. Celemi is an international consultancy and training company that helps companies improve their results through business simulations and advanced training solutions. Bure is thereby strengthening its position as a leading investor in the field of training. Celemi was founded in 1986, and is now a market leader in strategic education programs. The company operates globally, with offices in Sweden, the USA, the UK, Belgium and Germany, and representatives in around a further 20 countries. The company had a turnover of SEK 140M in 2000, and approximately 100 employees. Celemi offers solutions to customers so they can achieve better results through training in corporate mergers, product launches and the introduction of new corporate strategies, for example. By using training as a strategic resource, companies can build long-lasting competitive advantages. Celemi’s customers include many major international corporations, such as Ericsson, Inter IKEA Systems, Pharmacia Corporation, Siemens and DaimlerChrysler.