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Hawaii Increases Alternatives to 5% –

19 years ago

HONOLULU – The State of Hawaii Employees Retirement System in mid-April boosted its allocation to alternatives to 5% from 3%, said Chief Investment Officer Nathan Fischer. At the same time, the $9.5 billion pension decreased its allocations to real estate and domestic fixed income to accommodate the increase. Hawaii initiated an alternative investment program about […]

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CenCom V Creates Hi-Tech Incubator –

19 years ago

PALO ALTO, Calif. – Backed by corporate and venture capital firms, CenCom V Sourcing Inc. will operate a new incubator for high-technology companies that combine telecommunications, electronic media and computer networking. Larry Schwerin, an executive with 20 years experience at Lucent Technologies Inc., was tapped as the president of the firm, which began operations in […]

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Great Hill Staffs Up as First Fund Hits Its Close –

19 years ago

BOSTON – Great Hill Partners, one of two spinouts from Media/Communications Partners, wrapped its first fund in mid-April on $330 million and added several staffers to help manage the vehicle. Pat Curran joined the firm as a partner from Warburg Dillon Read, where he headed the investment bank’s information technology services group. Matt Vettel joined […]

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Reopening Stock Options Battle –

19 years ago

Despite its defeat in 1995 in trying to force companies to value and expense all stock options, the Financial Accounting Standards Board (FASB) has once again reignited the issue, setting a course that threatens to damage our entrepreneurial culture and seriously erode our economic foundation. The FASB learned a lot from the drubbing it took […]

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Spotfire Fans Flames with $3 Million Financing –

19 years ago

CAMBRIDGE, Mass. – Christopher Ahlberg’s 3-year-old company Spotfire Inc. straddles two worlds. At heart, Spotfire is a software company whose product helps users visually sift through mounds of data. But the company operates in the world of life sciences, the result of a marketing decision to target pharmaceutical companies. Dr. Ahlberg is quick to note […]

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North Dakota Paves the Way for More General Partners –

19 years ago

Can a pension fund truly diversify its private equity investments by investing in only two firms? North Dakota’s State Investment Board, which devotes 4% of its $2.3 billion investment pool to the asset class, has been quite successful using that particular strategy for the past 10 years. But things are about to change. The state […]

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Deals in Brief: Following are a handful of deals in the software sector: –

19 years ago

ALTA Claims $5 Million Close WESTERVILLE, Ohio – ALTA Analytics Inc., a developer of fraudulent claim screening software for property and casualty insurance providers, raised $5 million through a private placement of preferred stock with seven investors, according to a Securities and Exchange Commission filing. Menlo Ventures led the investment group, which included CID Equity […]

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Family Planning: A bigger, more competitive industry has forced venture capitalists to devote more time and energy to choosing e –

19 years ago

When John Glynn became a venture capitalist almost 30 years ago, he entered an industry that bore little resemblance to what exists today. Mr. Glynn, founder and general partner of Glynn Ventures in Menlo Park, Calif., and a self-described generalist, worked for several years as a lawyer before entering the fledgling VC industry in 1970. […]

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EnerTech Capital Adds Five Advisers –

19 years ago

WAYNE, Pa. – EnerTech Capital Partners has followed the lead of many private equity firms by adding five new members to its advisory board. David Lincoln, a managing director at the firm, said that while other firms have expanded their boards of advisers to assist with fund raising and credibility, EnerTech made its additions to […]

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Former Ad Executive Joins Walden Group –

19 years ago

SAN FRANCISCO – In an effort to bring valuable advertising expertise to its new media portfolio companies, the Walden Group in April welcomed online marketing veteran Rich LeFurgy to its team. Mr. LeFurgy, who has worked with Walden as a consultant since November 1998, will complete several outstanding consulting commitments before joining the firm full […]

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Doug Brent Bids Adieu to BT Capital –

19 years ago

NEW YORK – Douglas Brent in May left his post as president of BT Capital Partners, the private equity arm of Bankers Trust Corp., to establish his own buyout firm. The move comes in the shadow of an imminent merger between Bankers Trust and Deutsche Bank that likely will produce a restructuring of both BT […]

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Highland Capital Names Two Principals –

19 years ago

BOSTON – Highland Capital Partners has promoted Steve Harrick and Jo Tango to principals of the firm. Mr. Harrick joined Highland as a senior associate in 1997 with a specialty in computer software. He has participated in the firm’s investments in WebLine Communications and RoweCom, which recently went public. “As we all know, software and […]

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Billimoria Quits H&Q, Takes Sprout Post –

19 years ago

MENLO PARK, Calif. – When several venture firms attempted to recruit Hambrecht & Quist Senior Equity Analyst Farrokh Billimoria, he turned to his friend, venture capitalist Steve Diamond for advice. As it turned out, Mr. Diamond’s firm, Sprout Group, was in the market for a general partner with a background in networking and communications – […]

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Terms Tango –

19 years ago

Venture capital partnership terms have remained relatively stable since the market picked up earlier this decade, but recent years have brought some mild changes. Management fees on the whole have declined slightly from their traditional 2.5%, and while 80%/20% remains the common carried interest split, top-flight G.P.s are taking 25% and even 30% cuts without […]

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Two Patricof Staffers Promoted to Partners –

19 years ago

NEW YORK – Patricof & Co. Ventures Inc. recently promoted Thomas Hirschfeld and George Phipps to managing directors and made them partners in the new fund, APA Excelsior V. The move, coupled with the impending departure of General Partner Patricia Cloherty in early June (VCJ, February, page 37), leaves the firm with 10 managing directors […]

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AIG-Backed Israeli Internet Fund Nets $80 Million First Close –

19 years ago

TEL AVIV, Israel – Armed with a healthy injection of capital from a host of North American and international strategic investors, AIG Orion Fund in late April held an $80 million first close and began evaluating its first Israeli and European Internet deals. Led by Managing Partners Eyal Levi and Gary Leibler, the vehicle inked […]

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Centennial Hits Goal With Its First Close –

19 years ago

DENVER – Denver-based Centennial Funds in May held a $307.5 million close on Centennial Fund VI L.P., exceeding its $300 million target. Launched in January, Fund VI is expected to hold a final close in July at $400 million, nearly doubling the size of the $221 million Centennial V, which closed in February 1997. “We […]

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Merlin and Rothschild Unit Form Global Bioscience Group –

19 years ago

LONDON – Merlin Ventures, the biotechnology venture group founded by Dr. Chris Evans in 1996, looks set to become the largest fund dedicated to bioscience development in the world. Merlin announced in April that Jeremy Curnock Cook, a director of Rothschild Asset Management and head of Rothschild Bioscience Unit (RBU), along with other key individuals […]

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