Private Equity Week Wire for Monday 2-4

SAN FRANCISCO — Fremont Partners announced that it has closed on $920 million of commitments for Fremont Partners III, a private equity fund established to continue Fremont Partners’ successful middle market investment program. The fund exceeded its $850 million target and represents a significant increase over Fremont Partners II, a $605 million fund established in 1996.

The successful fundraising effort includes strong support from existing and new investors. Investors participating in both funds have increased their commitments by 75%, while new investors comprise approximately 30% of Fremont Partners III. Representative investors include AMR Investments, Bill & Melinda Gates Foundation, Boeing, Delta Air Lines, Fremont Group, General Motors Asset Management, MetLife, The Vanderbilt University and Verizon Investment Management, as well as state pension plans, foundations and high net worth investors.

EDEN PRAIRIE, MN — HighJump Software, a provider of the most adaptable supply chain execution (SCE) software, announced today that it has closed a $10 million equity investment with Gemini Investors of Wellesley, Mass. and St. Paul Venture Capital of Bloomington, Minn. This represents the second investment in HighJump Software made by St. Paul Venture Capital. HighJump said it plans to use the funds to accelerate the growth of its robust SCE solutions that empower customers to effectively collaborate and better manage and optimize inventory across the enterprise and supply chain.

SAN FRANCISCO — Brigade Corp., a global provider of business process outsourcing and customer relationship management solutions, has received a $50 million investment commitment from General Atlantic Partners LLC, the world’s leading private equity firm with an exclusive focus on investing in information technology and communications businesses globally.

BURLINGTON, MA — Performix Technologies, a leading provider of performance management software that increases profitability through improved employee performance, today announced it has closed on a $10.7 million Series B round of venture funding, bringing total cumulative investment to more than $25.7 million. The $10.7 million investment was led by Highland Capital Partners, with previous investor, ICC Software Partners, also participating. Joining the board, from Highland Capital Partners, as part of this announcement are Paul Maeder, Managing General Partner and Bob Davis, Venture Partner. The latest funding will be used to execute the Company’s aggressive growth strategy, focused on organic development via sales, marketing, alliances, and software development.

WESTWOOD, MA – Prism Venture Partners, a leading venture
capital firm with investments in communications, business infrastructure
software and healthcare, today announced it has closed its fourth fund,
Prism Venture Partners IV, L.P. (PVP IV) at $429 million. PVP IV, the
firm’s largest fund to date, reflects the value of Prism’s extensive
operational expertise. The firm’s nine investment professionals have
served as the founders, CEOs and senior executives at 19 venture-backed

SACRAMENTO, CA — The California Public Employees’ Retirement System (CalPERS) announced today that it is teaming up with The Yucaipa Companies to establish a first-of-its-kind merchant bank holding company that will control subsidiary funds and businesses that provide financial services to public pension funds, Taft-Hartley pension funds, unions and union members.

CalPERS is committing up to $560 million in the Yucaipa American Funds (YAF), a holding company that will tap the assets of Taft-Hartley plans, as well as, public pension funds and invest them in buyout and private equity investments. These investments will focus on industries and companies that maintain strong corporate governance practices and are sensitive to the interests of their employees.

BIRMINGHAM, MI — Sloan Ventures LLC, specialists in seed and early-stage venture development and funding, today announced that they have committed $250,000 to Kinderstreet Corporation, to lead the company’s Series A funding of $800,000 -$1MM. Kinderstreet is an Ann Arbor, Mich.-based supplier of Internet applications, which reduce administrative overhead and streamline communications between care providers and family members.

Sloan has committed to providing Kinderstreet with funding for operations along with continued product development. Sloan’s initial investment in Kinderstreet derives from Sloan Investment Fund I (SIF), a fund that targets seed and early-stage investment opportunities in information technology, Internet infrastructure, biotechnology, and other emerging technologies.

SAN FRANCISCO — Walden International, a leading global venture capital firm, today announced the appointment of Dinesh Vaswani to venture partner. Mr.Vaswani brings more than 16 years of experience to Walden International and will be responsible for investments in early stage technology companies, focusing on the enterprise software and IT sectors. The appointment of Dinesh Vaswani builds on Walden International’s leadership in technology investments.

Mr. Vaswani brings 16 years of operational and investment expertise to Walden International. Prior to joining Walden International, he was the founding CEO of WordWalla, a software company that develops embedded software for mobile devices. Previously, Mr. Vaswani served as the Director of Business Development at where he established strategic partnerships with Oracle, Ariba and American Airlines. While at, Mr. Vaswani also co-initiated’s entry into the enterprise intranet marketplace.

WASHINGTON — Venture capitalists invested $7.1 billion in entrepreneurial enterprises in the fourth quarter of 2001, reversing a downward trend that began in the third quarter of 2000, according to the PricewaterhouseCoopers/Venture Economics/National Venture Capital Association MoneyTree