Private Equity Week Wire for Friday 12/14

MIAMI — VoIP Group Inc., is pleased to announce that on Monday 10th December, 2001, it closed its second round of funding. The investment of $4.4 million was made by ATG Ventures, which acquired a controlling interest in the company.
VoIP Group Inc. provides communication solutions to telcos, calling card companies, banks and other enterprises throughout the USA, Latin America and Europe. Customers include NASA, for use in its International Space Station program, AZ Technology, CTI, AndesCom Chile, ComTel Peru, Telip and WEB.DE of Germany.

SEATTLE — Mohr, Davidow Ventures, an early stage venture capital firm recognized by entrepreneurs for its formative hands-on guidance, today announced that Rowan Chapman, Ph.D., has joined the firm as an Entrepreneur-in-Residence.

Prior to joining MDV Dr. Chapman was the Director of Business Development at Rosetta Inpharmatics in Kirkland, Wash. Her extensive knowledge in the areas of genomics and microarrays combined with her experience in researching and analyzing business opportunities made her a vital member of Rosetta’s collaboration team. Before Rosetta, Dr. Chapman held the position of Marketing Manager at Incyte Genomics, where she was charged with integrating genomics and proteomics as well as researching and determining strategies for use of genomic expression technology, which included coordinating specific microarray products and expression databases.

NEW YORK — Generation Partners, a $325 million private investment firm, has named Peter Campbell a partner in the firm.
Formerly an Entrepreneur-in-Residence, Campbell has been working with Generation Partners since December 2000.

FORT COLLINS, CO — Sixth Dimension, Inc. announced today that the technology firm closed a new, $13 million round of private equity funding led by EnerTech Capital.

Also participating in the funding were Shell Internet Ventures BV; E.ON Venture Partners GmbH, an affiliate of E.ON AG, the international utility group; Rock Mountain Ventures; and Katalyst Venture Partners, among others. The funding will be used to expand sales of the company’s successful line of networking products and services for the energy industry.

BELLEVUE, WA — WatchMark Corp., a leading provider of service assurance software products for telecommunications carriers, today announced that it has closed a $26.6 million Series C round of financing.
Ericsson Venture Partners CV, the venture capital fund backed by Swedish telecommunications equipment provider Ericsson, and Investor AB, through its wholly owned subsidiary Investor Growth Capital, led the investment.
Existing institutional investors Pequot Capital, Origin Partners and Lucent New Ventures Group participated in the round. Morgan Stanley acted as sole placement agent to WatchMark. As a result of the transaction, Mark Maybell, Senior Managing Director of Ericsson Venture Partners CV, will join WatchMark’s board of directors.

WatchMark will use the funds to extend its product offerings, expand its geographical reach into China and South America, and increase its global marketing budget as the company strengthens its position as the service assurance software leader for wireless providers.

LOUISVILLE, KY — AfterBOT Inc., an Atlanta-based Web-services provider, has received $3.1 million in its first round of institutional venture capital financing. Chrysalis Ventures led the investment, joined by River Cities Capital Funds of Cincinnati, Prosperitas Investment Partners, LP of Louisville and e-RM Ventures, an Atlanta-based fund managed by CheckFree Corp. co-founder Mark Johnson.

RESTON, VA — New Enterprise Associates (NEA) announced today that Harry R. Weller will join the venture capital firm as a Partner in late January 2002.
He has most recently been a member of FBR Technology Venture Partners. Mr. Weller will be joining NEA in their Reston, Virginia office and will focus on information technology investments.

WEST PALM BEACH, FL — Genesis Technology Group Inc. (OTCBB:GTEC), announced today that it has completed the acquisition of 80% ownership in Yastock Investment Consulting Co. Ltd. (Yastock), an investment banking and consulting firm located in Shanghai, China. Yastock specializes in raising capital and consulting in a number of areas, including trading information, public relations, corporate management, corporate strategic evaluations and human resources. Genesis Technology Group issued 92,000 restricted shares in exchange for 80% ownership of Yastock.

Yastock and its IT division currently employ about 20 professionals including a lawyer, certified public accountant, securities analyst, marketing executive, software engineer, analyst and programmer, graphic designer and an English translator. Yastock has a network of venture capital and investment funds that manage over US$100 million. In addition, Yastock represents over 60 private companies in selling their common stock in the private marketplace.

FLEMINGTON, NJ — Flemington Pharmaceutical Corp. (OTC Bulletin Board: FLEM, FLEMw) (“Flemington” or “the Company”) announced today that it has closed a private equity investment for $3 million from a single investor, Dr. Lindsay Rosenwald, chairman of Paramount Capital. In addition, under certain circumstances, Dr. Rosenwald has agreed to invest an additional $2 million at a later date.

ATLANTA — BioProgress Technology International Inc. (OTC Bulletin Board: BPRG), announced today that it has entered into a common stock purchase agreement with Fusion Capital Fund II LLC a Chicago based institutional investor, whereby Fusion Capital has agreed to buy up to $6.0 million of the Company’s common stock.

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