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Private Equity Week Wire for Wednesday 12/3

NEW YORK — INVESCO Private Capital, a New York-based venture capital and private equity firm, is pleased to announce the closing of the INVESCO Partnership Fund III, bringing to $2.0 billion the assets raised in limited partnerships since 1997.

The INVESCO Partnership Fund III will make commitments of $300 million over the next two to three years to private equity partnerships in the following sectors: Venture Capital, U.S. Buyouts, and non-U.S. Venture and Buyouts on behalf of more than 30 limited partners. Managing partnership investments since 1982, this is the third fund of funds product that has been launched by INVESCO since 1997.

WESTWOOD, MA — Centerstone Software Inc., the premier integrated Internet platform for corporate Workplace Resource Management, today announced that it has secured $5.5 million in its initial institutional round of funding. The investment by four local firms was led by Boston-based Egan-Managed Capital, a venture capital firm focused on early stage funding for New England based high-tech and business-to-business companies. Additional investors include Corning Technology Ventures, Massachusetts Technology Development Corporation and Trans National Group. Centerstone will use the funding to broaden its sales and marketing outreach and to further enhance its technology platform.

AUSTIN, TEXAS — AV Labs, the Austin-based accelerator venture fund, today announced that it would work jointly with IBM to focus on issues critical to early-stage ventures.
The initiative will provide AV Labs’ portfolio companies with access to IBM technology, product development initiatives and marketing and business resources.

JERUSALEM — Dow Jones is reporting that IXI Mobile, a U.S.-Israeli startup company that develops software for wireless communications, said Monday that it has raised $12.5 million from California’s Draper Fisher Jurveston ePlant Ventures and Israel’s Gemini Funds.
The fundraising comes ahead of the February unveiling of IXI’s software package, which it said would pave the way for a new generation of cheaper and more sophisticated wireless devices.

MANCHESTER, NH — Segway LLC, the business founded by inventor and entrepreneur Dean Kamen to transform the way people work and live, today announced the much-anticipated debut of the Segway(TM) Human Transporter (HT), the first self-balancing, electric-powered transportation machine. With dimensions no larger than the average adult body and the ability to emulate human balance, the Segway HT uses the same space as a pedestrian, and can go wherever a person can walk. The Segway HT will allow people to go farther, move more quickly, and increase the amount they can carry anywhere they currently walk.
Segway is funded by: Credit Suisse First Boston Private Equity, Kleiner Perkins Caulfield & Byers and individual investors.

SAN FRANCISCO — Avolent Inc., the leading provider of collaborative electronic bill/invoice presentment and payment (EBPP/EIPP) solutions, today announced that it has closed $40 million in its latest round of financing. This latest round, among the largest ever in the EBPP/EIPP market, was co-led by Constellation Ventures and Rho Ventures, and was joined by Columbia Capital, Norwest Ventures, Wells Fargo, and other existing investors. Avolent will use the funds to continue the development of its product offerings and expand its customer base.

PARIS, FRANCE — ExonHit Therapeutics, the functional genomics company
focused on the development of therapeutics and diagnostics from the analysis
of alternative splicing events, announced today the completion of its third
financing round which raised EUR 30 million. The latest fundraising
attracted new, high profile, international investors: Dresdner Kleinwort
Capital (UK), Danske Bank (Denmark), LCF E. de Rothschild (France) and
Sudinnova (France). Existing investors: BNP-Paribas’ Banexi Venture III
(France), CDC Innovation (France), AGF Private Equity (France), Oxford
Bioscience Partners (USA) et Sofinnova Partners (France) supported this
financing round. This successful fundraising comes just over a year after
ExonHit Therapeutics’ EUR 14 million second round financing, and will enable
the company to develop its portfolio of therapeutics and diagnostics through
their clinical development.

FRANCE — CDC Equity Capital, the LBO team of CDC Ixis (Caisse des D