Featured Content

Going Once! Twice! Sold to the Man with the Start-Up! –

19 years ago

REDWOOD CITY, Calif. – How much is about two hours of your time worth? Venture capitalist Steve Jurvetson of Draper Fisher Jurvetson, thanks to a recent charity auction on eBay, can give a precise market value for the time it takes have breakfast with him: $9,400. That’s the cumulative price two entrepreneurs paid to shoot […]

Continue

Silver Lake Launches Tech Buyout Fund –

19 years ago

NEW YORK/MENLO PARK, Calif. – A new group formed by Glenn Hutchins, a former managing director at The Blackstone Group; Integral Capital Partners, a Kleiner Perkins Caulfield & Byers affiliate; and two executives from Silicon Valley in February launched a buyout fund with a $1 billion target that will invest solely in technology companies. Silver […]

Continue

Piedmont Nears Its Second Close –

19 years ago

CHARLOTTE, N.C. – Eager to focus on investing its latest fund, Piedmont Venture Capital Management expected a second close on its sophomore vehicle by the end of February. Stacy Anderson, a managing principal of the fund, would not comment on the size of the expected close, or the vehicle’s first close last fall, but she […]

Continue

MTV’s Second Fund Expected to Wrap –

19 years ago

LOS ALTOS, Calif. – Media Technology Ventures’ (MTV) second effort, Media Equity Partners, at press time closed on $120 million and was expected to reach a $150 million target by the end of February. Launched in March 1998, the fund notched an $80 million first close in June and held rolling closes thereafter (VCJ, December […]

Continue

Omega Managers Buy Independence From Robertson Stephens –

19 years ago

SAN FRANCISCO – The five managers of the Omega and Crossover venture funds in January bought their independence from Robertson Stephens Investment Management (RSIM). The new Omega Venture Partners Inc. will continue to manage Omega’s vehicles, which back late-stage deals in technology, business services and health care, as well as the Crossover funds, which back […]

Continue

InterWest VII Set For First, Final Close –

19 years ago

MENLO PARK, Calif. – InterWest Partners was preparing for a late- February first and final close on its seventh fund and has added a venture partner to assist in investing the new vehicle. The firm was careful to avoid mass oversubscription by giving existing and new L.P.s estimates of the amount of capital they could […]

Continue

Mellon Backs New Internet Fund –

19 years ago

ATLANTA – Former information- technology entrepreneur Buck Goldstein and strategic partner Mellon Ventures in February launched netWorth Partners, the latest in a growing list of Internet-focused venture funds. Mellon Ventures, the captive equity investment vehicle for Mellon Bank, will invest in netWorth as a strategic limited partner, sharing deal flow and expertise and assisting in […]

Continue

TCV Wraps Vehicle, Plans to Boost Staff –

19 years ago

PALO ALTO, Calif. – Technology Crossover Ventures (TCV) in January notched a $400 million second and final close on Technology Crossover Ventures III (TCV III). The fund, which was oversubscribed, held a first close in November on about $270 million (VCJ, December 1998, page 20). Like its predecessor funds, TCV III will back a broad […]

Continue

SEC Cracks Down On RD Write-Offs –

19 years ago

WASHINGTON, D.C. – Venture capitalists likely do not spend much time contemplating the accounting practices of public companies, but a Securities and Exchange Commission (SEC) initiative to curtail suspect accounting by such companies could affect the acquisition market for VCs’ portfolio companies. Since mid-1998, SEC Chairman Arthur Levitt has been increasingly vocal in criticizing corporations […]

Continue

Oracle Establishes $100M VC Fund –

19 years ago

REDWOOD SHORES, Calif. – In many ways, Oracle Corp.’s newly launched $100 million venture fund looks a lot like its corporate brethren: The vehicle will make strategic investments in technology companies whose products or services are based on Oracle’s latest technology, a platform for Internet operations. The Oracle Venture Fund, however, differs from other corporate […]

Continue

Landmark Closes Private Equity Vehicle –

19 years ago

SIMSBURY, Conn. – After having expanded its private equity strategy to include primary investing and direct co-investing, secondary investor Landmark Partners Inc. has held a close on its current private equity vehicle, said Stanley Alfeld, the chairman and managing general partner of the firm. Landmark’s eighth fund saw a final close in January on $500 […]

Continue

Pioneer Group Sells Interest in VC Outfit –

19 years ago

BOSTON – Pioneer Group Inc. (PGI), a manager of mutual funds and institutional investments, in late March is slated to sell its interest in the firm’s venture arm, Pioneer Capital Corp., to an undisclosed “reputable name” in the secondary market, said venture group General Partner Walter Dick. “The decision to sell the VC interests accommodates […]

Continue

Walden/Tai Lawsuit Ends in Settlement –

19 years ago

SAN FRANCISCO – A lawsuit against William Tai, filed by the Walden Group of Capital Funds, ended in February with a settlement between the two parties and a statement by Walden acknowledging that Mr. Tai had not committed any wrongdoings before his departure from the firm, said Rob Bunzel, Mr. Tai’s attorney. Neither party would […]

Continue

Covad Communications –

19 years ago

SANTA CLARA, Calif. – Covad Communications Group Inc., a provider of high-speed digital communications services, went public January 21. The company offered 7.8 million shares at $18 apiece, well above its $12 to $15 filing range. The offering, underwritten by Bear, Stearns & Co. Inc., BT Alex. Brown, Donaldson, Lufkin & Jenrette and Goldman, Sachs […]

Continue

Select Comfort Corp. –

19 years ago

MINNEAPOLIS – Select Comfort Corp., a nationwide retailer of air mattresses and sleep products, went public December 4, offering 4 million shares at $17 apiece. The stock priced at the high end of the company’s $15 to $17 filing range. The initial public offering, underwritten by Hambrecht & Quist, BancBoston Robertson Stephens, Piper Jaffray Inc. […]

Continue

InfoSpace.com Inc. –

19 years ago

REDMOND, Wash. – InfoSpace.com Inc., an aggregator and integrator of Internet content services, went public December 15, offering 5 million shares at its proposed filing range of $15 each. The initial public offering, which left 20.1 million shares outstanding, was underwritten by Hambrecht & Quist, NationsBanc Montgomery Securities L.L.C. and Dain Rauscher Wessels. There were […]

Continue

Battery Ventures –

19 years ago

WELLESLEY, Mass. – Battery Ventures, founded in 1983, targets high technology companies, primarily in the communications and software industries. While the firm mainly focuses on the United States, it has made investments in Israel and currently is reviewing other opportunities abroad, General Partner Thomas Crotty said. Most investments are made in early-emerging companies, but start-ups […]

Continue

iVillage Inc. –

19 years ago

NEW YORK – iVillage Inc., an online women’s network, filed to go public December 11. The initial public offering’s size and the stock’s proposed filing range had not been determined at press time. Venture backers include America Online Inc., CIBC Wood Gundy Ventures, Cox Interactive Media Inc., Rho Management Trust I and Tenet Healthcare Corp. […]

Continue

Digital Edition

VCJ_917_cover

To read a digital copy of our latest magazine

click here