SANTA MONICA, CA — Agensys, Inc. announced today that it completed a private placement financing for gross proceeds of $42.8million. JPMorgan H&Q acted as the exclusive placement agent and financialadvisor for the offering. Bear Stearns Health Innoventures (BSHI) was thelead investor, with Orbimed Advisors and Alta Partners as co-leads. Thefinancing was placed with an international syndicate of institutionalinvestors and venture capital firms.
Other new investors participating were HBM Partners AG, Hambrecht & Quist Capital Management, Carnegie Kapitalforvaltning AB, BSI AG, and ReqMed Company, Ltd. Existing shareholders making follow-on investments included Lombard Odier & Cie and several individual investors.
BELLEVUE, WA — Ignition Partners, an early and seed stage venture capital firm, today announced that Bill Malloy has joined the VC as its newest venture partner. Malloy brings more than 20 years of technology and marketing experience to Ignition Partners, including 11 years as an executive at McCaw Cellular/AT&T Wireless. While at AT&T Wireless, Malloy was credited with several notable achievements including creating and launching AT&T Digital One Rate and growing company sales from $4 billion to $6 billion.
Most recently, Malloy served as the CEO of two start-ups, WorldStream Communications and Chicago-based Peapod. At each of these companies, Malloy led their respective turnaround and follow-on financing efforts.
PALO ALTO, CA — Novacept, developer of the NovaSure(TM) Impedance Controlled Endometrial Ablation System for the treatment of excessive menstrual bleeding (menorrhagia), today announced it is closing on a $30 million round of venture financing. The funding was co-led by Three Arch Partners of Portola Valley, California and New Enterprise Associates (NEA) of Menlo Park, California and also includes follow-on investments from the Company’s previous investors. Novacept also announced the addition of Michael Kaplan, a seasoned healthcare executive, to the Company’s Board of Directors.
AUSTIN, TX — BroadCloud Communications Inc., a leading provider of wireless data solutions for wireless carriers, network equipment providers and computer manufacturers, today announced it has received $8 million in second-round funding led by Austin Ventures and TL Ventures with participation from Access Ventures Partners.
To date, BroadCloud has secured $14.7 million in venture funding.
NEW YORK — Kiodex Inc., a provider of Web-based energy risk management solutions, today announced it has secured an additional $10 million in financing from Warburg Pincus, the global private equity firm. The firm originally invested $15 million in April 2001, bringing its total current investment in Kiodex to $25 million.
SAN JOSE, CA — Siros Technologies Inc., making high-performance, low-cost optical transmission components a reality, announced today that it has successfully completed a $17 million funding round from new and existing investors. Siros will use the funding to commercialize its high-power Vertical Cavity Surface Emitting Lasers (VCSELs) for metro access, metro core, and long haul optical network applications.
This investment brings the total capital commitment in Siros’ optical transmission technology to more than $32 million. The round was led by new investor Austin Ventures and includes investments from other new entrants Applied Materials Ventures and Vortex Partners. Existing investors also participated in the round, including New Enterprise Associates (NEA), New Venture Partners, CMEA Ventures, Citigroup, Parker Price Venture Capital, Milepost Ventures, and Lowenthal Capital.
FAIRFAX, VA EuroTech Ltd. (AMEX:EUO-news), www.eurotechltd.com, announced today that it has entered into an agreement with a new capital source for a $10 million private equity line. The investor has agreed to purchase Eurotech common stock at a ten percent discount to the market price and the financing will be available to Eurotech, subject to certain conditions, at its option on an as-needed basis over a period of 24 months. Subject to certain limitations, Eurotech has the right to determine the timing and amount of each sale.
NEW YORK — Blue Capital Management, a privateinvestment firm that helps management teams execute growth strategies byproviding operating and strategic management expertise in addition to equity capital, announced today that Peter F. Dolle has joined the firm as a Managing Director. Mr. Dolle is a senior investment professional with more than 20years of experience identifying, financing and realizing value from privateequity transactions.
Mr. Dolle was a principal of Clayton, Dubilier & Rice, Inc. (CD&R) and a general partner in three of CD&R’s private equity funds from 1984 to 1993. At CD&R, he shared responsibilities for the acquisition, on-going management and disposition of the firm’s portfolio investments, as well as for the management and administration of the firm and its private equity funds. Most recently, from 1996 to 2001, Mr. Dolle was a principal of Dubilier & Company, a New York-based private equity firm founded in 1996, which incorporates the integrated operating/financial talent approach pioneered by CD&R.
CHERRY HILL, NJ — TekConnect Corp., a leading provider of IT services and solutions to K-12 schools, colleges and universities in the Mid-Atlantic region, announced today that Greenlight Private Equity Partners, L.P., has invested $2 million in the Company in a private transaction. TekConnect also announced it is accelerating its growth strategy by acquiring the education IT services business of Imperial Software Systems, Inc., headquartered on Long Island, New York. TekConnect will do business as Imperial Software Systems on Long Island
NEW YORK & MENLO PARK, CA — Asante Partners LLC, an investment banking boutique focused primarily on the healthcare sector, announced today that Shannon Kete has joined the firm’s Menlo Park office as Vice President. Shannon joins Asante Partners from Morgan Stanley’s Investment Banking Division, where she served the firm’s clients on a broad base of corporate finance assignments, including initial public offerings, mergers and acquisitions, and private equity placements. While at Morgan Stanley, Shannon was selected for an important management assignment, overseeing the career development and client commitments of the division’s new investment banking associates.
SCOTTSDALE, AZ — Liquidix Inc. (OTC BB: LQDX) Tuesday announced that it has entered a strategic financing agreement with the Laurus Fund. Laurus is a private equity fund, based in New York, which specializes in providing financing to growing small- and mid-capitalization companies. To date, Laurus and Liquidix Inc. have executed a financing arrangement for up to $600,000 with a floor price of $1.25. In addition, Laurus and Liquidix Inc. are exploring the possibility of additional financing of $5 million.
NEW YORK — The NanoBusiness Alliance, the first industry association formed to support the development of the growing nanotechnology and small technology industries, today announced that it has entered into an agreement with Deloitte & Touche, LLP, the global professional services firm, to develop a series of groundbreaking reports, surveys and directories on the emerging business of nanotechnology. The report series will give corporations, governments and investors an insider’s look into current and up-and-coming applications in sensors, MEMS, microsystems, and nanotechnology, and the uses, the players, and the vast economic opportunities.
LONDON — Close Brothers Private Equity Limited has closed CBPE (UK) Fund VI at