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CSFB Approaches Fund-of-Launch –

19 years ago

NEW YORK – Investment bank Credit Suisse First Boston (CSFB) in early January was finalizing the private placement memorandum for its long-awaited new fund-of-funds and expected to launch the vehicle by the end of the month. The $500 million-targeted fund for institutional clients primarily will focus on international and domestic buyout vehicles, but also will […]

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Pequot Spins Out, Eyes Fund Close –

19 years ago

WESTPORT, Conn. – Pequot Capital Management Inc. in early January spun out of Dawson-Samberg Management Inc. and anticipated a first close on its new venture vehicle by the end of the month, a source said. The amicable spinoff, first announced last August but not effective until January 1, was a natural evolution of the business, […]

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APV Anticipates Close For Institutional Fund –

19 years ago

MENLO PARK, Calif. – Asia Pacific Ventures (APV) is preparing for a first and possibly final close in March on its inaugural fund aimed at institutional investors, said General Partner Pete Bodine. Targeting $100 million, APV Technology Partners Institutional Fund will invest side-by-side with the $83 million APV Technology Partners II, a corporate investors’ vehicle […]

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DFJ Launches East Coast Fund –

19 years ago

RESTON, Va./CHAPEL HILL, N.C. – In an effort to capitalize on the flourishing Internet sector in the Mid-Atlantic and Southeastern United States, Draper Fisher Jurvetson in early January launched the Draper Atlantic Venture Fund, the latest of several early-stage, geographically-focused satellite funds the firm has launched in recent years. Draper Atlantic was formed to take […]

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KKR Delves into Europe with $3B Fund –

19 years ago

NEW YORK – Kohlberg Kravis Roberts & Co. in early January launched a debut European fund targeted at $2 billion and capped at $3 billion. If it exceeds its target, KKR potentially will control the largest buyout partnerships in both the United States and in Europe. The firm is trying, not for the first time, […]

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VCs Rake In $22.2 Billion in Frothy 1998 Pensions Provide More Than Half –

19 years ago

NEWARK, N.J. – Venture capitalists in the United States raised a record $22.2 billion last year, beating 1997’s figure by about $9.4 billion, according to preliminary data compiled by Venture Economics Information Services (VEIS), a sister company to VCJ. It is important to note, however, that $5 billion of last year’s take came from Warburg, […]

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Accel Trims Focus Staff Changes Result –

19 years ago

PALO ALTO, Calif. – Accel Partners’ last health-care specialist is planning to leave the firm sometime in the first half of the year because Accel has all but completely turned away from the medical sector. But while Gene Hill will resign from Accel, Mitch Kapor, founder of Lotus Development Corp., will be settling in as […]

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The Challenge of Distributing Thinly Traded Stocks –

19 years ago

Distribution of appreciated stock to limited partners is the venture industry’s definition of winning, the equivalent of a happy ending in the movies. Most of the time, the sooner the stock distribution occurs, the better for all involved. However, everyone loses if the stock is so thinly traded that limited partners can’t find buyers for […]

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New CalTech Team Digs Deeper into Private Equity –

19 years ago

The California Institute of Technology (CalTech) institutionalized and reorganized its alternative investment program in May 1997 when its investment committee adopted a five-year plan to raise the pension’s allocation for alternatives to 25% from 2%. The plan now targets $100 million annually for the asset class, with two-fifths of the investments geared toward private equity […]

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Intertech Lands $26M from Behrman –

19 years ago

ST. LOUIS – Intertech Management Group, a maker of software solutions, closed a $26.9 million growth capital investment in late December. Behrman Capital led the equity financing, committing $26 million for an approximate 33% stake in the developer of billing and customer care software, said Managing Partner Grant Behrman. A strategic investor from the company’s […]

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Seagate Founder Readies VC Fund –

19 years ago

SOQUEL, Calif. – Al Shugart, founder of disk drive manufacturer Seagate Technology Inc., in early January was preparing to launch the Shugart Venture Fund, his new seed- and early-stage private equity vehicle. The 45-year veteran of the technology industry plans to begin marketing the fund, targeted between $50 million and $100 million, by the end […]

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No Rest for The Weary VC: Information technology deals get done fast, or they get done by someone else –

19 years ago

John Barry, managing general partner of Prospect Street Ventures, recently lost a few promising Internet deals just because he couldn’t snag the hot companies quickly enough. Sprout Group’s Patrick Boroian, who reviews information technology companies, occasionally finds himself running into the same problem. It’s been almost three years since VCs got swept up in the […]

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Kingsbury Associates, L.P. –

19 years ago

SAN DIEGO, Calif. – Kingsbury Associates, L.P., founded in 1994, focuses on early-stage health care investments in the San Diego and Orange County regions. Preferring to take the role of lead investor, the firm looks for companies whose products help solve problems in the health-care industry and that have a strong management team, General Partner […]

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Ampersand Ventures –

19 years ago

WELLESLEY, Mass. – Ampersand Ventures, founded in 1988 as a spin-off from PaineWebber Inc., focuses exclusively on investments in the specialty materials and chemicals (SMC) industry. The firm invests in a variety of sectors, including health care, telecommunications, electronics, industrial process control and building materials, and has no geographic or stage preferences. Ampersand seeks to […]

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AboveNet Communications Inc. –

19 years ago

SAN JOSE, Calif. – AboveNet Communications Inc., a provider of outsourced Internet hosting and connectivity services to companies that use the Web, went public December 10, offering 5 million shares at $13 apiece. The stock priced at the high end of the company’s $11 to $13 filing range. Underwritten by CIBC Oppenheimer and Volpe Brown […]

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Concur Technologies Inc. –

19 years ago

REDMOND, Wash. – Concur Technologies Inc., a provider of intranet-based business applications that extend automation to employees and partners, held an initial public offering December 16. The company offered 3.1 million shares at $12.50 apiece, its proposed offering price. The offering, which left 16.5 million shares outstanding, was underwritten by BancBoston Robertson Stephens, Hambrecht & […]

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Italy’s High-Tech VC Finds New Optimism –

19 years ago

MILAN, Italy – Italy’s private equity market should receive a welcome boost when the government passes new closed-end fund legislation in January to create more efficient structures for international institutional investors. This year might also signal the beginning of a long-awaited spring for the country’s underdeveloped early-stage high-technology investment sector. The first signs of a […]

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