Private Equity Week Wire for Tuesday 4/24

NEW YORK — Inc., a leader in the field of Web site globalization and
language solutions, today announced that the company has closed its first
round of Series A financing. Deutsche Asset Management, through its affiliate
Deutsche Bank Sharps Pixley, Inc., led the financing round with an investment
of $2.5 million. Other investors in the company include advertising legend Jay
Chiat, Scient founder, Eric Greenberg, and Pennell Venture Partners, a venture
capital fund.

OTTAWA — BitFlash announced today that it has closed
US $15.45 million in venture capital funding.

Hot on the heels of the launch of the BitFlash Mobility Suite last month, this influx of cash
gives the company more momentum to take command of the wireless Internet graphics
software industry. In this latest round of financing, VenGrowth Capital, Skypoint Capital Corporation,
Working Ventures, CBC Pension Fund and co-leader BMO Nesbitt Burns Equity Partners
among other private investors are investing in the wireless software development platform

TORONTO — MDS Capital Corp. is pleased to announce the successful
completion of a $17 million private placement in Excel-Tech Ltd. (“XLTEK”). MDS Capital
Corp. led the transaction and Funds managed by MDS invested $10 million including the
MDS Life Sciences Technology Fund, Canadian Medical Discoveries Fund and SC
Biotechnology Development Fund. Other participating investors included Covington
Capital, and Yorkton Securities.

The net proceeds from the offering will be used to support the increased demand for the
company’s technology, expand customer service, research and development and general
working capital purposes.