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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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Portfolio Profiles – Brand Equity Ventures –

19 years ago

GREENWICH , Conn. – Brand Equity Ventures, an independent venture firm that spun out of Consumer Venture Partners in late 1996, invests in early-stage consumer businesses, as well as small mezzanine financings, recapitalizations and management-led buyouts. The firm closed the $95 million Brand Equity Ventures I in April 1998. The vehicle, which was about 40% […]

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The Mechanics of Effective Distributions –

19 years ago

This is the second of three articles about distributing thinly traded stocks to limited partners. The questions were posed by Standish M. Fleming of Forward Ventures. The participants are Jay Luby, managing director of the Strategic Trading Division of U.S. Trust Co. and David York, a principal and manager of the venture services group at […]

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Go West VC In a never-ending search for the best valuations, VCs are beginning to turn some attention to the Southwest, a region –

19 years ago

In a way, venture firm Tullis-Dickerson & Co. Inc.’s two New Mexico offices owe their existence to venture capital’s explosion in the Southeastern United States more than to anything that happened in the Southwest. Tullis-Dickerson in 1994 launched the TD Javelin Capital Fund, a $34 million vehicle focused on the Southeast. The fund, based in […]

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Wit Grabs $25M From Capital Z –

19 years ago

NEW YORK – Capital Z Partners in March said it would invest $25 million from its latest fund in the online investment bank Wit Capital. Capital Z will become the largest shareholder in Wit following the close of the growth capital round, expected in late March. Funding came from the recently wrapped $1.85 billion Capital […]

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VCs: Take Heed of The Washington State Investment Board –

19 years ago

The ears of many venture capitalists are likely to perk up while listening to Ashu Rajbhandari describe his pension fund’s penchant for private equity investing. The Washington State Investment Board prides itself on being an innovator when it comes to alternatives, and the pension plans to continue pouring capital into the asset class at a […]

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Electronics Seller Tweaks e-Biz Model –

19 years ago

WESTLAKE VILLAGE, Calif. – There are many places to buy a cheap stereo. Likewise, for a high-end system or a tony home-theater setup in the low-six-figure range. But where would you go for an in-between model that costs $3,000 to $50,000? You might want to check out KnowledgeLINK, a southern California online company designed to […]

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Corinthian Colleges Inc. –

19 years ago

SANTA ANA, Calif. Corinthian Colleges Inc., a private, for-profit higher-education company, held an initial public offering February 4, offering 2.7 million shares at $18 apiece. The company’s stock priced at the high end of its $16 to $18 filing range. The initial public offering, underwritten by Salomon Smith Barney, Credit Suisse First Boston and Piper […]

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Online Gift Company Raises Initial VC –

19 years ago

NEW YORK – Flooz.com, a seller of online gift credits that are accepted at a variety of Web retailers, in February raised $1 million in a first round of venture financing. San Francisco-based Venture Strategy Group, which invests in branded-consumer companies, handed over part of the capital in February and is slated to deliver the […]

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IPOs in registration – eToys Inc. –

19 years ago

SANTA MONICA, Calif. EToys Inc., an online retailer of major and specialty brand toys, filed to go public February 17. The company has not yet announced how many shares it plans to offer, or a suggested stock price. Goldman, Sachs & Co., BancBoston Robertson Stephens, Donaldson, Lufkin & Jenrette Securities Corp. and Merrill Lynch & […]

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Bottomline Technologies Inc. –

19 years ago

PORTSMOUTH, N.H. Bottomline Technologies, a developer of software that facilitates e-commerce for business-to-business transactions, went public February 12, offering 3.4 million shares at $13 apiece. The company’s stock priced at the high end of its $11 to $13 filing range. The initial public offering, underwritten by BancBoston Robertson Stephens, BT Alex. Brown and CIBC Oppenheimer, […]

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Poland Gets First Independent VC Fund –

19 years ago

WARSAW, Poland – Two former members of Renaissance Capital’s Polish investment team have formed Spring, an independent venture management group that is marketing Spring Capital, a $55 million Poland fund. If Spring reaches a successful closing, it will be the first Polish fund raised by an independent local team without a Western partner or institutional […]

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PCG to Advise Mitsubishi on Fund –

19 years ago

LA JOLLA, Calif. – Investment adviser Pacific Corporate Group is advising Japanese giant Mitsubishi Corp. on a new $50 million private equity fund-of-funds that will invest globally. The fund will be marketed through Mitsubishi’s new securities subsidiary of its merchant banking division, which is to begin operations April 1, said Kelly DePonte, chief operating officer […]

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Healtheon Corp. –

19 years ago

SANTA CLARA, Calif. Healtheon Corp., a developer of an Internet-based platform that facilitates and streamlines the interaction of health-care professionals, held an initial public offering February 10, offering 5 million shares at $8 apiece. The company’s stock priced above its $6 to $7 filing range. The IPO, underwritten by Morgan Stanley Dean Witter, Goldman Sachs […]

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