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The Potential Impact of Social Security Reform on the VC World –

19 years ago

While Social Security reform isn’t exactly the sexiest topic of discussion among venture capitalists, it might benefit them to pay the issue a little more heed. As Senior Writer Shawn Neidorf tells us (story page 37), if paying Social Security dues becomes mandatory for public employees, it could significantly diminish the amount of capital that […]

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E*Trade Forms Venture Capital Unit –

19 years ago

PALO ALTO, Calif. – Another player has entered the corporate venture capital fray, and this time it is a company that received its own venture financing not too long ago. Online investment brokerage E*Trade Group Inc. in March formed a $150 million captive venture capital unit headed by Thomas Bevilacqua, the company’s former independent counsel […]

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Landmark Purchases Pioneer Group’sVenture Capital Holdings, New Firm Created –

19 years ago

BOSTON – The Pioneer Group Inc.’s venture arm in mid-March spun out and formed its own firm, Ascent Venture Management Inc., and at the same time Pioneer sold its interests in three of its venture subsidiary’s funds to Landmark Partners Inc. Ascent will continue to manage the three funds raised under Pioneer’s umbrella – Pioneer […]

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Lehman Prepares $350M Venture Fund –

19 years ago

NEW YORK – Lehman Brothers is creating a $350 million to $400 million venture fund that will invest in small companies. In an unprecedented move, the firm is offering its institutional and high-net-worth clients an opportunity to buy into the fund with a minimum investment of $500,000. “This is really an extension of our investment […]

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First Quarter IPOs Explode onto Scene –

19 years ago

NEW YORK – Venture firms returned to the initial public offering market in the first quarter, raising $1.85 billion through 26 initial public offerings in the quarter, according to preliminary data gathered by Venture Economics Information Services, a data company affiliated with VCJ, and sister publications Private Equity Week and The IPO Reporter. Internet-related entities […]

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PCA Keeps Position As CalSTRS Adviser –

19 years ago

SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) in April reselected Pension Consulting Alliance (PCA) as its general consultant for the next five years, effective May 1. The Encino, Calif.-based consultant had already spent five years as a general consultant for the $96 billion pension, said CalSTRS Chief Investment Officer Pat Mitchell. BARRA […]

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Viventures Raises Multinational Fund –

19 years ago

PARIS – Newly-created Viventures Partners held a second close in late March on its first multinational $100 million-targeted vehicle, Viventures. Launched in September, the fund held a first close in November on FFr 515 million ($85 million) and is capped at $115 million. Some $14 million already is invested, and a final close is expected […]

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Singapore to Foster Technopreneurship –

19 years ago

SINGAPORE – As part of a plan to encourage what it calls “technopreneurship,” the government of Singapore has launched a $1 billion venture fund to shift the city-state to an “advanced knowledge economy” from a manufacturing economy, said Deputy Prime Minister Tony Tan Keng Yam. Minister Tan in April announced the Technopreneurship Fund, which aims […]

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Chase Capital Raises $750 Million Asia Fund –

19 years ago

HONG KONG – Chase Capital Partners is raising a major new buyout fund focusing on Asia and is partnering with the International Finance Corp. and some of Hong Kong’s most prominent families to participate in an expected wave of divestitures and consolidations throughout the region. According to Arnold Chavkin, a partner at Chase Capital, Chase […]

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Atlas IV Attracts American Investors –

19 years ago

AMSTERDAM/LONDON – Atlas Venture Fund IV, which closed in late February on $400 million, is the largest venture fund raised to date by a European group and this year is likely to rank among the top five technology venture funds worldwide in size. Atlas Venture anticipates its latest fund will invest an average of $5 […]

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E-Business Targeting College Students Rakes in $6 Million –

19 years ago

CAMBRIDGE, Mass. – As the red- hot market for e-commerce investments continues to sizzle, companies with innovative ideas about Internet retailing are finding themselves awash in cash from backers hungry to get in on the action. One example is CommonPlaces, a developer of the CollegeBytes.com Internet hub designed to help marketers reach the highly sought-after […]

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Two Groups Launch Australian Funds, Third Awaits Tax Reform –

19 years ago

SYDNEY, NEW SOUTH WALES, Australia – Two Australian venture groups recently launched domestic private equity funds, and a third group is awaiting a government overhaul of the tax system before raising its vehicle. Development Australia Nominees Ltd. is launching a second fund-of-funds targeting A$300 million ($191 million) for investment in Australian venture capital and buyout […]

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Brooke, Perkins Honored by NVCA –

19 years ago

BOSTON – The National Venture Capital Association in April awarded lifetime achievement awards to Peter Brooke, Advent International Corp.’s founder and chairman, and Thomas Perkins, founding partner of Kleiner Perkins Caufield & Byers. Mr. Brooke, most noted for bringing venture capital to more than 20 countries, was singled out for his talent in applying U.S.-style […]

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Brand-Building Fund Takes In $25 Million –

19 years ago

SAN FRANCISCO – Venture Strategy Partners, the venture arm of brand-consulting firm Venture Strategy Group, held a $25 million final close in March on its first fund. Targeted at $40 million when it was launched in late 1997 (VCJ, October 1998, page 22), the firm later cut its goal in half when it was decided […]

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Hickman, St. Paul Start Late-Stage Fund –

19 years ago

ANNAPOLIS, Md. – St. Paul Venture Capital has created its fifth satellite fund, the late-stage Annapolis Ventures, which will be invested by a former managing director at T. Rowe Price. Doug Hickman, who spent 14 years at the investment house, oversaw T. Rowe Price’s late-stage private equity vehicles, Threshold funds. Mr. Hickman will essentially perform […]

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BankBoston Development Co. Strikes a Chord in Urban America –

19 years ago

When Daniel Coleman walked into the offices of Job Link Inc. two years ago, he stepped back 30 years to a time when he was a teenager growing up in Tampa, Fla. The minority-owned employment agency reminded him of the many out-reach programs located in the poor neighborhoods of his youth, and now it was […]

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Tech Advocates Seek Undying RD Credit –

19 years ago

WASHINGTON, D.C. – Although the federal government’s research-and-development tax credit has not greatly benefited venture capitalists or their young portfolio companies, Congress’s attempt to make R&D write-offs permanent might eventually prove advantageous. Mark Heesen, the National Venture Capital Association’s director of legislative, regulatory and entrepreneurial affairs, noted that the current tax credit structure does not […]

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iDEAL Partners Launches $125M Fund –

19 years ago

PORTLAND, Maine – iDEAL Partners recently launched a $125 million fund with pledged equity from Berkshire Partners and BancBoston Capital. Former Wright Express Inc. Chief Executive Paul Walsh will manage the fund. “I’m a growth guy,” Mr. Walsh said. “I was looking for a partnership to try to build an intelligent platform, have some fun […]

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