Private Equity Week Wire

PLANO, TEXAS — SyChip Inc, a fabless semiconductor company that designs, develops and markets Radio Frequency Integrated Circuits (RFIC) and Chip Scale Modules (CSM) for wireless Internet appliances, today announced it has closed the first part of its $20 million round of funding.
SyChip announced that it has secured $15 million in equity financing and will consider additional investment of up to $5 million in a subsequent close by the end of November. The round was led by 3i, a leading international venture capital company, and includes other influential technology investors such as Alliance Technology Ventures (ATV), Lucent Technologies and Pacesetter Capital.

SAN JOSE, CA — SS8 Networks, a leading provider of IP signaling and services solutions for
next-generation network operators worldwide, today announced it has completed
the acquisition of the Enhanced Services Division (ESD) of ADC
Telecommunications, Inc. in a cash transaction valued at $45 million. The
transaction was part of a $62 million equity financing package led by Warburg
Pincus, a global private equity firm that invested $47 million. A number of
the existing investors, including Woodside Fund, Onset Ventures and CDP
Sofinov, also participated in the financing.

HOWELL, NJ — Student Transportation of America Inc. (STA), Chairman and CEO, Denis J. Gallagher announced today that the company has completed a new equity and debt financing package totaling $87 million to continue its regional based growth strategy in target markets across the country.

Student Transportation engaged CIBC World Markets as agent to provide a private placement offering led by Wynnchurch Capital of Lake Forest, Illinois, a private equity fund with over $200 million of capital under management. Other equity investors included Rice, Sangalis, Toole & Wilson (RSTW) of Houston, Texas and GE Capital’s Commercial Equipment Financing unit. Senior Subordinated Notes for the company were fully subscribed by RSTW, a privately held subordinated debt and equity fund with over $870 million of capital under management. This financing enhances previous equity capital contributions of GTCR Golder Rauner LLC a private equity firm in Chicago that has sponsored the company since its inception. Simultaneously, Harris Nesbitt arranged and agented a new $60 million senior credit facility with leading financial institutions including GE Capital’s Commercial Equipment Financing unit, LaSalle Bank and Heller Financial Inc.

SAN DIEGO — 37Point9 (OTCBB:TSPN) announced today that the company has received an immediate $5,000,000 funding commitment via Structured Equity Funding Line Financing from Alpha Venture Capital, Inc. (Alpha Funds), a private equity fund, specializing in providing financing to emerging mid-cap and small-cap companies. The commitment is for one year with an automatic extension of 12 months. The terms of the agreement provide that The Alpha Funds be required to purchase from 37Point9 through a Regulation D Common Stock Private Equity Line up to $5,000,000 of its common stock.

TOKYO — Dresdner Kleinwort Capital (DrKC) is pleased to announce its role as lead investor in a $7 million Series A funding round for Genista Corp., a Tokyo-based software company specialising in Quality of Service solutions for the telecom industry. DrKC funded US$3 million in this round. Other investors in this round include JAFCO and the venture-capital arm of Singapore Telecom.


SEA GIRT, NJ — Momentum Technology Partners, dedicated to serving venture communities in New Jersey and the Eastern USA, announces the firm’s founding from the merger of Centrella Technology Partners (CTP) and Millennium Venture Partners.

Momentum’s charter, as an outsourced venture partner for venture capital (VC) and private equity firms, helps VCs chart the course for their entrepreneurs. Momentum’s team of seasoned technology executives aids the development of VCs’ portfolio companies by providing a robust set of services specific to the needs of start-up companies, including business development consulting, strategic planning, organizational development advisory, interim executive management, and funding strategies. The merger creates this unique and fresh approach to consulting and funding for technology enterprises, from early stage to late stage ventures. Momentum benefits from the strengths of each firm, combining Centrella’s management consulting and funding capabilities with Millennium’s strategic planning and consulting services. The founders of Momentum are Michael Centrella and Brian Beck.

NEWPORT BEACH, CA — Today, TriZetto reported that one of its original venture capital investors, Delphi Ventures IV, L.P., and its associated fund, Delphi BioInvestments IV, L.P. (the “Funds”), has distributed shares of TriZetto common stock to its partners. At the time of the distribution, the Funds held approximately 2.4 million shares of common stock. The shares distributed by the Funds may be sold into the public market without restrictions. The decision by the Funds to distribute shares to their partners was made in accordance with the standard policies and procedures used by the Funds for similar investments.

HERNDON, VA — Semantix, a knowledge management solutions company focused on enabling corporate intelligence, today announced the closing of a $4 million Series B round of financing. This round of investments brings the cumulative total invested in Semantix to over $10 million. Three leading Quebec-based institutions participated in this round: CDP Sofinov, Innovatech du Grand Montreal and the Solidarity Fund QFL.
Sofinov and Innovatech were both involved in previous rounds. The Solidarity Fund QFL is the sole new investor and chose to lead this round.


FAIRFIELD, NJ — Bradley Pharmaceuticals Inc. (Nasdaq: BPRX), today announced completion of an offering of approximately 1.5 million shares of common stock with gross proceeds of $12 million. Investors in the offering include: Essex Woodlands Healthcare Ventures, Chicago; Orion Biomedical Fund, NY; Perceptive Life Sciences Fund, NY; and SAC Capital Management, LLC, NY. Paramount Capital, Inc. of NY assisted the Company in completing this transaction.
Funds raised by this venture will be utilized for general corporate purposes, such as product acquisition and licensing opportunities.


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