Featured Content

Wisconsin Mulls Biotech Fund –

19 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 […]

Continue

Frontier Launches Venture Capital Unit –

19 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 […]

Continue

Congress Favors SBIC Budget Boost –

19 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 […]

Continue

GE Equity Opens San Francisco Office –

19 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% […]

Continue

RCT Forms $15M BioVentures Group –

19 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 […]

Continue

Idealab Hires Kauffman Fellow –

19 years ago

LOS ANGELES – One-year-old Idealab Capital Partners L.P.(ICP) seems to be approaching the venture capital market as a sprint rather than a marathon. While many first-time funds breathe a mighty sigh of relief at a final close and get to the business of investing, the venture capital affiliate of the incubator idealab! plans to launch […]

Continue

Menlo VIII Slated For Q2 Fund Raising –

19 years ago

MENLO PARK, Calif. – Menlo Ventures plans to raise and wrap its eighth fund in the second quarter of this year. Menlo VIII will target $400 million and be capped at $500 million, said General Partner DuBose Montgomery, who added that most of the capital would likely come from existing limited partners. The new vehicle […]

Continue

Michigan Investment Bank Launches Fund –

19 years ago

FARMINGTON HILLS, Mich. – Investment bank GMA Capital in early February held a $50 million first close on its inaugural domestic venture fund, InvestCare Partners, which plans to take advantage of the underserved Midwest health-care sector. The vehicle will make late-stage equity investments nationwide in small- and medium-size health-care services, infomedic and medical device companies […]

Continue

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

19 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 […]

Continue

New Firm Targets Northwest Region –

19 years ago

PORTLAND, Ore. – Banking their hopes on the future success of the Silicon Forest, former consultants Michael Lubitz and Steve Brown are preparing to launch their first venture fund in the Pacific Northwest. Mr. Lubitz, most recently a venture consultant to information technology businesses, and Mr. Brown, a consultant to small- to medium-size manufacturing businesses […]

Continue

Batterson Launches New Fund, VC Online –

19 years ago

CHICAGO – Veteran venture capitalist and entrepreneur Len Batterson has been busy launching an institutional venture fund and creating an online resource for VCs. Mr. Batterson, a former director of Allstate Insurance Co.’s venture capital division, is president and chief executive of Batterson Venture Partners, a private venture firm that until now has worked with […]

Continue

Arral II Investors, Managers Learn from Fund’s Dismal Life –

19 years ago

HONG KONG/SINGAPORE – When Arral & Partners raised the $170 million Arral Pacific Equity Trust II in 1990, expectations on the part of its managing directors and Western limited partners were understandably high. After all, Asia’s economies were growing rapidly, and the fund’s managers were a top-flight team. Nearly a decade later, however, the vehicle […]

Continue

Spectrum III Closes, Side Fund Planned –

19 years ago

BOSTON/PALO ALTO, Calif. – Spectrum Equity Partners in January held a $650 million second and final close on Spectrum Equity Investors III L.P., and the firm was slated to launch a side fund for entrepreneurs in February. The side fund will not exceed more than $19.5 million, or 3% of the larger vehicle, a limit […]

Continue

Sovereign to Raise $125M Millie Fund –

19 years ago

DENVER – As Sovereign Financial Services Inc. began pre-marketing its new private equity fund-of-funds, Sovereign New Millennium Fund II, its managing principals decided the vehicle needed a less cumbersome nickname. They settled on “Millie,” in honor of Managing Principal Mary Kelley’s late mother. Millie will seek $125 million from high-net-worth individuals, smaller foundations, pension funds […]

Continue

Open Prairie Nears Close, SBA Approval –

19 years ago

CHAMPAIGN, Ill. – While their vehicle’s name may suggest a remote firm in the hinterlands, the managers of Open Prairie Ventures I believe that the Midwest – Champaign-Urbana, Ill, in particular – will provide as much deal flow as a bustling urban center. While the twin cities of Champaign and Urbana are surrounded by miles […]

Continue

Knightsbridge Wraps Fourth Fund –

19 years ago

BARTLESVILLE, Okla. – Eager to tap a market ripe with attractive, new venture funds, Knightsbridge Advisers Inc. in early March concluded fund raising for its latest fund-of-funds, Knightsbridge Integrated Holdings IV. Knightsbridge’s third fund-of-funds, which closed on $102.3 million in September 1997, still has room for two or three more investments, but the firm did […]

Continue

Information Technology Ventures –

19 years ago

MELO PARK, Calif. – When it comes to Information Technology Ventures (ITV), its name is truly apropos because the firm invests exclusively in IT. Formed in 1994 by Mark Dubovoy, Sam Lee and Virginia Turezyn, ITV often is the first institutional investor, dedicating about $7 million over the life of a portfolio company. Eric Chin […]

Continue

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

19 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 […]

Continue

Digital Edition

VCJ_1217-cover

To read a digital copy of our latest magazine

click here