Return to search

Private Equity Week Wire for Wednesday 8/29

LIVONIA, MI — Valassis (NYSE: VCI) announced that it will not continue to
fund its Internet couponing investment, Since the venture has been
unable to secure additional outside financing sufficient to carry it to
profitability, will close operations immediately. Valassis cited the
reason for discontinuing its backing was due to’s inability to
garner a critical mass of advertisers interested in an internet couponing

DENVER — Deuxo, a provider of sales lead optimization solutions and
services, today announced a $10 million Series B financing. Anschutz
Investment Company led the round, with significant participation from
founding investors SBVC (SOFTBANK Venture Capital) and Sequel Venture
Partners. The Series B financing is one of the largest early stage financings
in the Lead Optimization space this year. deuxo has raised total capital of
$20.5 million since its launch in Fall 2000. Steven Cohen, vice president of
Anschutz Investment Co. has joined the Deuxo board of directors.

SEATTLE — Nimble Technology announced that it has raised $8 million in its
third round of financing. Nimble Technology has developed the Nimble
Integration Suite(TM), an XML-based enterprise data integration platform used
to power web services and applications. The suite can query multiple,
disparate data sources as if they were a single database, which helps
businesses quickly and cost effectively build more powerful applications.
In conjunction with this third round of funding, Nimble Technology
announced that the Nimble Integration Suite is slated to ship in

BOSTON — BDirect Capital Inc., a Boston-based financial services firm that
offers a complete range of alternative investment solutions, today announced
that it received approval from the Securities and Futures Authority (SFA),
the UK equivalent of the Securities & Exchange Commission, to expand its
alternative asset business to the UK. BDirect Europe opened a London office
this spring.

OTTAWA & MONTREAL — Skypoint Capital Corp.,
a rapidly-growing venture capital firm that focuses exclusively on
telecommunications and information technologies, today announced the opening
of its Montreal office. Louis Desmarais, a newly appointed Skypoint partner
will be responsible for the new operation. Mr. Desmarais joined Skypoint in
July 2001, prior to that he was a partner
in Wynnchurch Capital, a $200 million private equity firm based in Chicago
and Montreal, where he was responsible for sourcing and monitoring the
fund’s early-stage ventures. He has also managed Desmarais Capital
Corporation, a family-owned financial advisory firm.

For yesterday