Private Equity Week Wire for Friday 1/25

LONDON — Baring Private Equity Partners today announced that the new Baring Vostok Private Equity Fund had raised committed capital of US$205 million at the final closing of the fund in December 2001.
This new private equity fund is targeted at investments in Russia, Ukraine, and other NIS (Newly Independent States) countries. Commitments have been received from several large pension funds and investment companies from the United States and Western Europe.

ATLANTA — BLIMPIE International Inc. (Amex: BLM) announced today that the previously announced acquisition of the Company by a private investor group has been completed.
As a result of the acquisition, BLIMPIE shares have ceased to trade on the American Stock Exchange and BLIMPIE is no longer a public company.

The investor group is led by Jeffrey Endervelt, a subfranchisor of the Company. The Company’s founder, Tony Conza, is one of the investors and will continue with the Company in an advisory capacity. The new Board of Directors of the Company is comprised of Mr. Endervelt, Chairman; Jeffrey Langfelder, Spencer Gillette, Daniel Dean, John O. Utendahl and Raymond Villaman. Dean, Utendahl and Villaman are associated with United Enterprise Fund, a private- equity fund focused solely on the restaurant business, with an emphasis on transactions involving minority operators and urban markets.

SAN JOSE, CA — Gadzoox Networks Inc. (Nasdaq: ZOOX), a global supplier of intelligent Storage Area Network (SAN) products, today announced that it closed on the sale of approximately $3.9 million of common stock in a transaction with Balch Hill Capital and another private investor. The company raised an additional $5 million from its sale of a convertible debenture to Berg and Berg Enterprises, LLC, a private venture capital firm that has invested in over 50 Silicon Valley companies. The investment will be used to continue the successful launch of Gadzoox Networks’ Slingshot 2Gb Open Fabric switch platform and to support the development of future products and programs.

VANCOUVER – OncoGenex Technologies Inc. announced today the completion of a $3.6 million private placement. The financing was led by BDC Venture Capital, with participation by Milestone Medica Corporation, Qwest Emerging Biotech (VCC) Fund Ltd. and others.

SAN DIEGO — Hamilton Technology Ventures LP of San Diego announced today that it is tripling its size through additional investments by a number of strategic corporate investors from Hong Kong and Korea introduced by APEX Technology Investment Co. LTD. of Seoul.
Signing ceremonies were recently held in Hong Kong and Seoul and were attended by a number of Asian investors and four of the General Partners of the newly expanded fund, re-named ‘Hamilton Apex Technology Ventures LP.

— Holiday RV Superstores Inc. (Nasdaq: RVEE), a recreational vehicle dealership chain doing business as Recreation USA, today announced that it has received an additional $500,000 as part of its previously announced private equity offering. This brings the total to $2.0 million in a planned offering of up to $3.5 million through the sale of units consisting of convertible preferred stock and warrants. The proceeds of the private placement are being used for working capital and general corporate purposes.

The private placement is for up to $3.5 million in gross proceeds. The Series A Preferred Stock is being issued in two sub-series and the warrants are not presently exercisable pending the approval of the convertability and voting rights of one of the sub-series of the Series A Preferred Stock and of the exercisability of the warrants.

WINDSOR, CT — SS&C Technologies, Inc. (Nasdaq: SSNC) today announced the Company has agreed to purchase 1.3 million shares of common stock, at a purchase price of $8.50 per share from major shareholder General Atlantic Partners, Greenwich, CT. The total purchase price of the transaction, which is expected to close on Friday, January 25, 2002, will be $11.05 million.

For yesterday’s Wire, click here

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