BOSTON — Corechange Inc., a global provider of e-access framework software, today announced that it has raised $25 million in a Series C
Founded in 1996, privately held Corechange has raised $65 million to date and plans to use the funds raised in this financing round to expand its business and accelerate its path to
UBS Capital Americas III, L.P. and affiliates (collectively, “UBS Capital Americas”) led the round with additional investments from Exelon Capital Partners and SG Cowen
Ventures, as well as from strategic investors, including Nortel Networks. Earlier round investors ABN AMRO Private Equity and HarbourVest Venture Partners also participated in
the round. SG Cowen acted as exclusive private placement agent.
LA JOLLA, CA — Early Capital, a La Jolla-based private equity intermediary, today announced that John Dickerson, president of Summit Global Management of La Jolla, has joined the Early Capital Board of Directors.
Early Capital offers capital matchmaking services for entrepreneurs and investors. The company accepts and screens opportunities for private equity investments from entrepreneurs, and offers the most select and promising investments to its network of accredited individual investors and institutions.
SUNNYVALE, CA — Savi Technology Inc. today announced that it has received $20 million in a
financing round led by k1Ventures Limited, one of the largest venture capital
funds in Asia. The third-round financing, which is intended to fund strategic
investments and potential acquisitions, reflects the strength of the company’s
position as a leading provider of real-time supply chain logistics management
Savi Technology provides a software platform and applications to enable
multi-national shippers, logistics services providers, conveyance owners, and
infrastructure owners to monitor, manage, and optimize the progress of goods
through all segments of a global supply chain. A unique component of the
company’s strategy is its use of a wireless data network to automatically
track the movement of in-transit goods and materials.
In addition to k1Ventures, the investment arm of the Singapore Infocomm
Development Authority (IDA) also participated as a new investor in the round.
Six organizations that had previously invested in Savi Technology also
participated: Accel Partners; Mohr, Davidow Ventures; Temasek Holdings; United
Parcel Service (NYSE:UPS), through its UPS Strategic Enterprise Fund; Vector
Capital; and Venture TDF.
MOUNTAIN VIEW, CA — BlueArc Corp., developer of the
world’s highest performance enterprise-class network storage systems, today announced
the completion of a $72 million round of financing led by Weston Presidio and previous
BlueArc investors Celtic House International, Patricof & Co. Ventures and Apax Partners &
Co. Also joining this round of funding are Dell Ventures, EUROQUBE, New York Common
Retirement Co-investment Fund advised by Pacific Corporate Group, JPMorgan Partners,
and Fort Washington Capital.
The investment will be used to drive the growth of BlueArc in the extremely fast moving
network storage market. Since the company’s founding in 1998 BlueArc has secured over
$100 million in funding. Coinciding with the completion of this round of funding, BlueArc
announced today that James B. McElwee, general partner of Weston Presidio, has joined
BlueArc’s board of directors.
MENLO PARK, CA — Benchmark Capital, Silicon Valley’s leading
early-stage high-tech venture capital firm, today announced that it has closed a $220
million fund dedicated to accessing the Israeli high-technology market. Benchmark Israel
has drawn support from institutional investors, leading corporations and influential
high-tech executives in the U.S., Israel and Europe.
In addition to Benchmark institutional and individual partners, Benchmark Israel attracted
investments from companies such as Cisco Systems (Nasdaq: CSCO), Rational Software
(Nasdaq: RATL), Mercury Interactive (Nasdaq: MERQ), and Infineon Technologies (NYSE:
ISX). Benchmark and its corporate partners will work together to best leverage Israeli
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