Featured Content

Michigan Investment Bank Launches Fund –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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

Portfolio Profiles – Brand Equity Ventures –

20 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% […]

Continue

The Mechanics of Effective Distributions –

20 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 […]

Continue

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

20 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 […]

Continue

Wit Grabs $25M From Capital Z –

20 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 […]

Continue

VCs: Take Heed of The Washington State Investment Board –

20 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 […]

Continue

Electronics Seller Tweaks e-Biz Model –

20 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 […]

Continue

Corinthian Colleges Inc. –

20 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 […]

Continue

Digital Edition

To read a digital copy of our latest magazine

click here