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Revamped TIFF III Nears Final Close –

18 years ago

CHARLOTTESVILLE, Va. – In an effort to streamline private equity investment strategies for its limited partners, The Investment Fund for Foundations (TIFF) recently split its alternative investment fund-of-funds into two separate vehicles, expecting a $75 million final close on the revamped TIFF Partners III by the end of March. TIFF, a non-profit organization created to […]

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Battery V Prepares To Close on $400M –

18 years ago

WELLESLEY, Mass./SAN MATEO, Calif. – Battery Ventures was slated to reach a first and final close on its fifth fund at the end of March. The bi-coastal firm began talking with existing limited partners last fall about Battery Ventures V L.P., which was targeted at $400 million, double the size of the firm’s last vehicle. […]

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Continental Illinois Gets New Name, Start –

18 years ago

CHICAGO – Continental Illinois Venture Corp. was reincarnated in January as CIVC Partners, and the firm has a fresh $500 million commitment from affiliate Bank of America to make private equity investments. The firm’s prior arrangement with Bank of America was to receive annual allocations of as much as $100 million from the bank. From […]

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Crosspoint Sets Out To Raise Sixth Fund –

18 years ago

WOODSIDE/IRVINE, Calif. – Crosspoint Venture Partners was slated to launch its sixth fund in late March and hoped for a first and final close on $150 million in April, said Managing Partner John Mumford. Crosspoint Venture Partners 1999 L.P., a follow-up to 1997’s $140 million fund, will target $150 million. The previous vehicle is fully […]

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Landmark Adds M.D., Plans Direct Fund –

18 years ago

SIMSBURY, Conn. – Continuing its evolution from secondary investor to full-service private equity shop, Landmark Partners Inc. in early March announced the appointment of a new managing partner to lead the firm’s foray into direct investment. Francisco Borges, the former treasurer of Connecticut and most recently a managing director at Financial Guaranty Insurance Co., will […]

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Kallman, Tung Form Timberline Ventures –

18 years ago

PORTLAND, Ore. – Entrepreneur and venture consultant Bill Kallman and venture capitalist Jeffrey Tung are marketing an inaugural fund from their newly formed Timberline Ventures L.L.C., a venture firm focused on the Pacific Northwest. Timberline Venture Partners L.P. is targeting $60 million and likely will be capped at $75 million, Mr. Tung said. The new […]

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SmithKline VC Succeded by Gavin –

18 years ago

WEST CONSHOHOCKEN, Pa. – Peter Sears, a co-founder of SmithKline Beecham’s venture subsidiary, S.R. One Ltd., will retire in late May as the firm’s president. Mr. Sears, a 36-year veteran of the company, will end his day-to-day involvement with S.R. One but will continue to represent the firm on the board of four of its […]

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Glass Signs On with Weiss, Peck Greer –

18 years ago

SAN FRANCISCO – Joining the growing ranks of venture capitalists adding new partners with operating experience, Weiss, Peck & Greer Venture Partners in mid-February toasted the arrival of new Venture Partner Skip Glass, a veteran executive of start-up and entrepreneurial companies. Mr. Glass will help the information technology and health care-focused Weiss, Peck & Greer […]

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Accel’s Hill Joins Schroder Practice –

18 years ago

BOSTON – Gene Hill, who recently departed Accel Partners as its remaining health-care specialist, is slated to become a partner at Schroder Ventures. Mr. Hill, who starts his new job April 1, will help manage Schroder Ventures International Life Sciences Fund II, a $200 million-targeted vehicle that was approaching a wrap at press time (VCJ, […]

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Four Firms Unite for a $1 Billion Fund That Will Support Companies Pre-IPO –

18 years ago

POPALO ALTO, Calif. – Feeling overly dependent on mezzanine funds and private placements to feed their expansion-stage portfolio companies, four venture firms have banded together to launch a $1 billion-targeted fund to support businesses in the six to 18 months leading up to their initial public offerings. Accel Partners, Brentwood Venture Capital, Oak Investment Partners […]

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M&As Continue to Rise And, as usual, IT and communications companies garner the lion’s share of respect –

18 years ago

Try having a conversation about the current trend in mergers and acquisitions without using the word “growth” or any form of “consolidate.” It could be difficult, as venture capitalists who were asked to discuss increased sales of VC-backed companies found out. Consolidation in a diversity of industries, ranging from networking to medical devices, motivated buyers […]

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Landmark Adds MD, Plans Direct Fund –

18 years ago

SIMSBURY, Conn. – Continuing its evolution from secondary investor to full-service private equity shop, Landmark Partners Inc. in early March announced the appointment of a new managing partner to lead the firm’s foray into direct investment. Francisco Borges, the former treasurer of Connecticut and most recently a managing director at Financial Guaranty Insurance Co., will […]

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VC Secondaries Dive In Second Half ’98 –

18 years ago

NEWARK, N.J. – Plagued by Wall Street’s downturn in the last two quarters of 1998, the venture-backed secondary public offering market recorded just 64 issues after a first-half total of 52, according to Venture Economics Information Services (VEIS), a data company affiliated with Venture Capital Journal. Last year’s output marked the industry’s worst performance since […]

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Wisconsin Mulls Biotech Fund –

18 years ago

MADISON, Wis. – Signaling a possible shift toward more traditional early-stage venture capital investing, the Wisconsin State Investment Board at press time was readying a proposal to its board of trustees to create a $50 million health-care and biotechnology vehicle geared toward local deals. Wisconsin at press time had committed only to later-stage private equity […]

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Frontier Launches Venture Capital Unit –

18 years ago

SUNNYVALE, Calif. – Frontier Communications, one of the nation’s largest long distance carriers, became one of the latest corporations to seize the burgeoning venture capital market for Internet investments when it formed Frontier Internet Ventures Inc. in late February. While Frontier Communications, a subsidiary of Rochester, N.Y.-based Frontier Corp., has been quite active on the […]

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Congress Favors SBIC Budget Boost –

18 years ago

WASHINGTON, D.C. – The House of Representatives in February passed a bill authorizing a significant budget increase to the Small Business Investment Company (SBIC) program, signaling Congress’ support of government efforts to help the venture capital community. In a vote of 402 to 2, the House passed the Small Business Investment Company Technical Corrections Act […]

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GE Equity Opens San Francisco Office –

18 years ago

SAN FRANCISCO – GE Equity, the private equity subsidiary of GE Capital, in April plans to open an office in San Francisco to expand its presence as a direct investor in venture-stage technology and media companies. The new office has been given the mandate to invest approximately $162 million in non-control deals, representing about 25% […]

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RCT Forms $15M BioVentures Group –

18 years ago

CAMBRIDGE, Mass. – Research Corporation Technologies has committed $15 million to form a new venture development company, RCT BioVentures NE. The new firm will be based in Cambridge, Mass., and will scour research institutions, universities and entrepreneurs throughout New England for potential high-value discoveries. RCT BioVentures intends to draw attention to investment opportunities presented by […]

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