SOMERSET, NJ — Dynamic Mobile Data Systems, Inc. (DMD), a leading wireless application service provider, announced today that it has raised $10 million in series B equity financing. New investor Hudson Ventures
led the round, which also included new investor LibertyView Equity Partners and previous investors Argentum Capital Partners, First Analysis and individual investors.
The new funding will be used primarily to increase sales and marketing of DMD’s MobileDispatch suite of services.
WILMINGTON, MA — Aura Communications Inc., a fabless semiconductor company providing system-on-chip (SOC) solutions for wireless voice, data and
audio communication, said today it has completed its recent financing activity that was started in November 2000. This financing raised a total of $11 million for Aura(TM).
Investors include Duchossois TECnology Partners, Pilot House Ventures and Motorola Ventures, the strategic venture capital arm of Motorola, Inc. (NYSE: MOT). Funds will be used to expand into
new voice and data centric application areas, release two major chipsets this year, and develop its next-generation chip architecture.
WESTPORT, CT — Pequot Capital Management Inc., a
private investment firm with approximately $15 billion in assets under management,
announced today that it will become two independent firms of approximately equal size.
The division is expected to be completed by September 30, 2001 to ensure a smooth
Arthur J. Samberg, currently Chairman and Chief Executive Officer of Pequot Capital, will
continue to lead Pequot, which will maintain its existing diversified growth,
telecommunications and media, healthcare, and small cap funds. Pequot will also
maintain its seed and expansion-stage venture capital funds. Consistent with its history,
the firm will establish a new technology fund. Pequot will continue its comprehensive
approach to investing in the most dynamic sectors of the equity markets, spanning the
company lifecycle from venture capital to small-cap and large-cap investing. The firm will
remain headquartered in Westport, Connecticut, with offices in New York City, Menlo Park
Daniel C. Benton, currently President of Pequot Capital, will become Chairman and Chief
Executive Officer of a new firm to be named Andor Capital Management. Mr. Benton and
Christopher M. James will continue to co-manage their existing five technology funds and
will retain their current technology research and support team. Jolyne Caruso, formerly
head of U.S. equities at J.P. Morgan Chase, will be President of Andor Capital
Management and will manage its client and non-investment operations. The new firm will
take a multifaceted approach to technology investing. Andor Capital Management will be
headquartered in New York City with offices in San Francisco and Taipei.
BOULDER, CO — Nupremis, Inc., a leading Managed
Services Provider (MSP), today announced that it has agreed to terms with its existing and
new investors to contribute an additional $10 million in financing towards its upcoming
Series B round.
It also announced the appointment of KPMG Corporate Finance to coordinate a Series B
private equity raise.
The new financing is being led by a Callahan Associates International group, including
CH2M Hill and Echo Broadband Pte. Ltd., in addition to The Edward P. Bass Group and
Angelo, Gordon & Co. Nupremis raised $33 million in first round funding in July 2000.
NEW YORK — Kiodex, Inc., a provider of web-based risk
management and trading systems, today announced it has secured $15 million in venture
capital financing from Warburg Pincus. In addition, Warburg Pincus has reserved an
additional $10 million in capital for future investment in the company.
Proceeds from the investment will be used for final development of the company’s flagship
software application, the Kiodex Risk Workbench(SM). The Warburg Pincus investment
marks the third round of funding for Kiodex, Inc.
ATLANTA — Novient, Inc., the premier software provider of Internet-based Service
Process Optimization (SPO) solutions for the service economy, today announced
that it has raised an additional $25 million in venture capital funding.
The additional funds raised will carry the company to profitability.
The financing included participation from all of the original institutional
investors, including First Union Capital Partners, Hummer Winblad Venture
Partners, Mellon Ventures, and Noro-Moseley Partners. New investors included
LLR Equity Partners and Southeastern Technology Fund. The substantial cash
infusion marks a significant vote of confidence in Novient, which will use the
funds to extend its leadership in the SPO market.
TOKYO — RHJ Industrial Partners L.P. (“Ripplewood”), an
affiliate of New York-based private equity firm Ripplewood Holdings L.L.C., announced
today that it has agreed to acquire a 40% share in Niles Parts Co., Ltd. (“Niles” or the
“Company”), the automotive switches and assemblies company, from Nissan Motor Co.,
Ltd. The outstanding 60% share will remain with the Company’s founders, the Suzuki
family; Niles employees; and other affiliated companies.
This transaction represents the first private equity investment in the Japanese
NEW YORK — Peter Gutman has joined iFormation Group’s New
York office as a Managing Director and part of the firm’s senior management team. Along
with LabMorgan co-founder Peter Maillet, another recent addition to the senior ranks at
iFormation, Peter Gutman will be responsible for sourcing, structuring and executing
investments, as well as working with corporate partners to build world class technology