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Private Equity Week Wire for Thursday 1/17

AUSTIN, TX — Cygnal Integrated Products Inc., a manufacturer of mixed-signal system-on-chip (SoC) microcontrollers, today announced the closure of an over-subscribed $20.5 million funding round, bringing the total equity raised to $36 million since the company’s inception.

The round was led by BA Venture Partners (BAVP), a $500 million venture capital partnership, of Foster City, CA, and Alliance Technology Ventures (ATV) of Alphretta, GA. BAVP, whose sole limited partner is Bank of America, and ATV will both obtain seats on Cygnal’s board of directors. Other participants in the round included Austin Ventures, Liberty Mutual Insurance Company, JatoTech Ventures and KLM/Current Ventures.

LOUISVILLE, CO — Grau Data Storage AG secured an important second round of investment in the third quarter of 2001. The significance of this infusion during a notorious absence of venture capital investments speaks volumes about the plans and products being offered by Grau. The keystone product, the Infinistore(R) Virtual Disk System (IVD), has generated awards and testimonials paving the way for the company’s growth into the future.
The second round of investment was led by the e-millennium 1 fund.

NEW BRUNSWICK, NJ — Senesco Technologies Inc. (OTC BB: SENO), announced today that it completed an additional five hundred thousand dollar ($500,000) private placement of the Company’s restricted equity securities with Stanford Venture Capital Holdings Inc.

The offering consisted of 285,714 shares of Common Stock, warrants to purchase 125,000 shares of Common Stock with an exercise price of $2.00 per share and warrants to purchase an additional 125,000 shares of Common Stock with an exercise price of $3.25 per share.

Pursuant to an agreement between the Company and Stanford, on or about January 23, 2002 Stanford will invest an additional five hundred thousand dollars ($500,000) under the same terms and conditions. In December 2001, the Company closed a two million dollar ($2,000,000) private placement with Stanford and a 1.165 million dollar ($1,165,000) private placement with certain private investors.


Sphera Corp., a leading developer of Web hosting automation and management software announced today that it has raised an additional $5 million in the subsequent closing of its second round financing. This investment from Vision Capital and Bank of America Equity Partners brings the total raised in Sphera’s second round to $20 million, with the initial $15 million led by TLcom Capital Partners (TLcom) and Jerusalem Venture Partners (JVP) with participation from Gemini Israel Funds.

RESTON, VA — Washington Capital Ventures today announced the opening of its new offices in Reston, Virginia.
The Company, formed late last year, was founded by Lev Volftsun and Ian Landy, former Virginia-based entrepreneurs and most recently, executives at Cisco Systems. Washington Capital Ventures is a partnership supported by Lightspeed Venture Partners, Sevin Rosen Funds and ComVentures, looking to seek out and fund early stage, East Coast-based technology companies.
Unlike other venture firms in the area, Washington Capital Ventures does not have its own fund; instead, it works with over two billion dollars of technology funds from tier one venture capital firms.

SAN FRANCISCO — meVC Draper Fisher Jurvetson Fund I (NYSE: MVC), an information technology venture capital fund providing individual investors access to venture capital investments, today announced that PeopleSoft Inc. (Nasdaq: PSFT) has entered into a definitive agreement to purchase the intellectual property and certain assets of Annuncio Software Inc., a portfolio company of the Fund.

Annuncio’s leading marketing automation solution for email and web customer interaction, combined with PeopleSoft’s industry leading customer relationship management (CRM) solution, will enable companies to automate and personalize online customer business interactions within a single integrated CRM solution. This functionality will give PeopleSoft customers the ability to execute marketing campaigns utilizing online dialog and web site marketing to maintain real-time personalized conversations with customers.

MUNICH, BOSTON & SAN FRANCISCO — TVM Techno Venture Management, the German-U.S. venture capital firm, announced three promotions to partner level. The three new Partners are Rodney D. Altman, M.D., Dr. Hubert Birner, and Mark G. Cipriano, CPA.

Altman is based in San Francisco. He is a deal maker in the life science team and as such serves as director on the board of Confluent Surgical, Inc (Waltham, MA). Before joining TVM, Dr. Altman was the Assistant Medical Director of the emergency department of MacNeal Hospital in suburban Chicago and a Clinical Instructor at the University of Chicago. Birner is a member of the Munich life science team. He represents the interests of TVM on the boards of Direvo Biotech AG (Cologne), Merix Bioscience Inc. (Durham, NC, and Erlangen) as well as Jerini AG (Berlin). Previously, he held senior positions at AstraZeneca and McKinsey & Co. Cipriano works in corporate finance in the Boston office, where he has been involved in numerous transactions in the last two years. He joined TVM in February 2000, after serving as Director of Finance for the venture capital firm Ascent Venture Partners.

For yesterday’s Wire, click here

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