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St. Paul Establishes Three Satellite Funds –

19 years ago

BLOOMINGTON, Minn./SAN FRANCISCO – St. Paul Venture Capital Inc. this fall created three more satellite funds based in Minnesota, Southern California, Pennsylvania and San Francisco. The medically focused vehicles, managed by investment professionals well known to St. Paul, give the venture firm access to very early-stage and very niched opportunities. (VCJ, December 1998, page 6). […]

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Media/Com Spinouts Near Fund Raising End –

19 years ago

BOSTON – The two venture firms recently spawned from Media/Communications Partners were well into their inaugural fund-raising efforts this winter, with M/C Venture Partners expecting to wrap a $250 million vehicle in December and Great Hill Partners anticipating a first and potentially final $300 million close in January. The six managing partners of Media/Communications split […]

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Fleet Fund-of-Eyes December Wrap –

19 years ago

PROVIDENCE, R.I. – Chisholm Fund Partners, Fleet Equity Partners’ new fund-of-funds for individuals and small institutional clients, in November held a $20 million initial close as it eyed a final wrap in December. Launched in April 1998, Chisholm Fund Partners’ strategy is a departure from the $35 million Chisholm Partners III and its predecessors. The […]

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HQ, Israeli Bank Close $55 Million Early-Stage Israel Fund –

19 years ago

SAN FRANCISCO/TEL AVIV, Israel – Eager to begin investing its oversubscribed $55 million vehicle, Eucalyptus Ventures recently held a final close on its first fund, which focuses on early-stage, Israeli-related technology and health-care companies. “You can fund raise forever,” said Bruce Crocker, a managing director of the vehicle, which was created in 1997 and is […]

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Germany Launches Largest Life Sciences Fund –

19 years ago

WIESBADEN, Germany – The German state of Hesse in November teamed with Hoechst AG to launch a DM125 million ($74.4 million) venture capital fund focused on life sciences and chemistry and at press time was still in search of fund managers. Future Capital AG, scheduled to begin operations at the beginning of this year, is […]

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Phildrew AimsFor GBP300 Million –

19 years ago

LONDON – Phildrew Ventures expected a first closing on its fifth and largest fund in late 1998. With a target of GBP300 million ($495 million), the Phildrew Ventures Fifth Fund is nearly double the size of its predecessor, which raised GBP164 million ($271 million) in 1995. Phildrew, however, will need to raise only GBP150 million […]

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Israeli High-Tech Tempts GE Capital –

19 years ago

TEL AVIV, Israel – GE Capital’s Equity Capital Group (ECG) in October appointed director Sam Cubac to head the group’s new office in Tel Aviv. ECG made its first foray into the Israeli market in 1997 with a $20 million joint venture with the ABS GE Capital Giza Fund, a high-technology vehicle founded in partnership […]

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FCC’s Hundt Signs With Benchmark –

19 years ago

MENLO PARK, Calif. – Benchmark Capital in late October added former Federal Communications Commission (FCC) Chair Reed Hundt as a venture partner. Mr. Hundt, who will be based in suburban Washington, D.C., will work for the firm on a part-time basis helping evaluate deals and taking board seats, said General Partner Andy Rachleff. Mr. Hundt […]

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Bear Stearns Adds Two in Private Equity –

19 years ago

NEW YORK – Responding to the growing appetite of private equity buyers for later-stage private and public companies, Bear, Stearns & Co. hired Peter Buckley and David Goddard as senior managing directors and co-heads of the newly formed private equity group. “This is a model that a number of larger firms have seen is essential […]

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Hughes’ Chapman Joins Forstmann-Leff –

19 years ago

CHICAGO – Asset manager Forstmann-Leff International, Inc. was in search of a new client when it knocked on the door of Hughes Electronics’ pension management group. Instead, the firm ended up with a new director. Celia Chapman was slated to join Forstmann-Leff in December after 17 years at Southern California’s Hughes Investment Management Co. Ms. […]

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Bailey Quits Venrock to Join Healtheon –

19 years ago

SANTA CLARA, Calif. – After a brief stint as a general partner at New York-based Venrock Associates, Mark Bailey returned to Silicon Valley this summer to lead Healtheon Corp.’s business development program. Mr. Bailey, who has shifted back and forth between the venture capital and corporate worlds throughout his 13-year private-equity career, will lead Healtheon’s […]

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Intel to Hire Staff For Foreign Investing –

19 years ago

SANTA CLARA, Calif. – Chip maker Intel Corp. plans to extend its corporate venture-capital reach overseas this year. Intel has backed 200 mostly United States-based companies with about $1.5 billion through its “corporate business development program,” which seeks strategic and financial rewards, a spokesperson said. The company will spend 1999 hiring investment staff to focus […]

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ESP Senses $1 Billion in Interest –

19 years ago

EDINBURGH, Scotland – European Strategic Partners (ESP), the $1 billion targeted fund-of-funds that is the first fruit of a joint venture between Standard Life and Hamilton Lane Advisors, aims to provide a broad constituency of international investors with exposure to a diversified portfolio of premier European private equity vehicles and direct investments. In Europe, as […]

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QuestLink Nabs $3M In Second Round –

19 years ago

AUSTIN, Texas – QuestLink Technology Inc., a company that allows engineers to purchase various prototype materials online, in November secured $3 million in venture financing. Needham Capital Partners, the venture arm of a semiconductor-focused investment banking boutique, brought $2 million to the table as a first-time investor. Trellis Partners, QuestLink’s first institutional backer, returned with […]

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PDA Market Space Draws Venture Capital –

19 years ago

SAN FRANCISCO – Handspring, a company designing the next generation of personal digital assistants (PDAs), recently raised an undisclosed amount of capital in a first round of venture financing from Benchmark Capital and Kleiner Perkins Caulfield & Byers. The company’s founders, PalmPilot developers Donna Dubinsky and Jeff Hawkins, plan to make a more consumer-oriented product […]

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Interwoven Secures $7.2M Fourth Round –

19 years ago

SUNNYVALE, Calif. – Interwoven Inc., a developer of enterprise Web production systems that manage the development and arrangement of Web sites, in mid-November raised $7.2 million from a half-dozen venture capital firms. Foundation Capital led the convertible preferred stock financing followed by Accel Partners, Integral Capital Partners, Draper Fisher Jurvetson, JK&B Capital and Charter Ventures. […]

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Microsoft Alumnus Signs On At Olympic –

19 years ago

KIRKLAND, Wash./PORTLAND, Ore. – Olympic Venture Partners (OVP) in December tapped former Microsoft manager Bill Miller as the venture firm’s fourth general partner. Mr. Miller resigned from Microsoft in February 1998 with the intention of taking a year off, but Olympic partners persuaded him to accept the job sooner. Part of Olympic’s motivation for hiring […]

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Sprout Leads Phase Forward Second Round –

19 years ago

NEWTON, Mass. – Phase Forward Inc., a provider of Internet-based clinical trial data collection and management solutions, closed an $8 million second round of venture financing in early November. The lead investor was Sprout Group, which joined existing investors Atlas Venture and North Bridge Venture Partners. Sources declined to give details on the size of […]

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