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Redleaf II Nets $30M Initial Close –

20 years ago

SARATGOGA, Calif./PITTSBURGH – Expanding its deal flow to the Mid-Atlantic United States, in June Silicon Valley-focused Redleaf Venture Management held a first close on its second fund and made plans to open a Pittsburgh office. Redleaf Venture II is one of three investors from the VC hubs of the Valley and Boston, including Draper Fisher […]

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Summit Accelerator Preps for First Close –

20 years ago

PALO ALTO, Calif. – Summit Accelerator Fund, created to back smaller deals than Summit Partners’s late-stage focus, officially began fund raising in late June and was expected to reach a first close by the end of July, said Kip Sheeline, who was hired earlier this year from Hambrecht & Quist to manage the vehicle (VCJ, […]

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Labrador Readies Launch of Fund IV –

20 years ago

REDWOOD CITY, Calif. – Labrador Ventures expects a September launch for Labrador Ventures VI, the firm’s first vehicle targeting institutional investors as well as individuals. Previous Labrador funds were raised mainly from high-net-worth individuals, however the firm expects about half of Fund VI’s $60 million target to come from institutions, said Managing Director Larry Kubal. […]

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Columbia Markets Institutional Fund –

20 years ago

ALEXANDRIA, Va. – Marketing the first institutional fund in its 11-year history, Columbia Capital garnered more than $450 million in just over six months of fund raising. The new fund, Columbia Capital Equity Partners II, will continue the firm’s strategy of investing in the communications and information technology sectors. Managing Director Jim Fleming said Columbia […]

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Encore’s First Fund Rakes In $50 Million –

20 years ago

LOS ANGELES – New venture firm Encore Capital Partners closed Encore Venture Partners LP at $50 million in early July. Joe Reece and Stephen DesJardins, two investment bankers from Donaldson, Lufkin & Jenrette, founded Encore to capitalize on the bevy of media and technology companies in the Los Angeles and San Diego areas. Marketing efforts […]

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Advisers Wraps Fund-of-Funds, Closes Five Deals –

20 years ago

ZURICH, Switzerland – Advisers on Private Equity AG closed its fifth deal in June, two months after a euro100 million ($103.52 million) final close on its second fund-of-funds, Private Equity European Partners C.V. (PEEUP). Advisers Managing Director Bruno Raschle said the fund-of-funds invested an undisclosed amount with London-based buyout group Duke Street Capital. Mr. Raschle […]

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Pantheon to Launch European Vehicle –

20 years ago

SAN FRANCISCO – Pantheon Ventures was readying a European fund-of-funds, tentatively called Pantheon Europeon Fund II Ltd., just as its latest United States vehicle was nearing a final wrap. The European fund, planned for launch this fall, will target $400 million but will be raised in euros, said Managing Director Gary Hiatt. Managed from Pantheon’s […]

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Accounting Giants At Loggerheads –

20 years ago

LONDON – Two of the big five accounting firms openly disagree as to whether buyout activity in the United Kingdom rose or fell in the second quarter – and what the prospects are for the remainder of the year. KPMG Corporate Finance said its latest study has shown that the value of larger – GBP10 […]

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Angelica Takes ATTIMCO Reins –

20 years ago

NEW YORK – Robert Angelica, president and chief investment officer of AT&T Investment Management Corp. (ATTIMCO), was promoted to chairman and chief executive of the pension following the retirement of Larry Prendergast in late June. Mr. Angelica will be responsible for investing and overseeing the $18.7 billion pension, where he has worked since its founding […]

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Australian VC Group Seeks Tax Changes –

20 years ago

SYDNEY, Australia – The Australian Venture Capital Association (AVCAL) has requested the government revamp its domestic and international venture capital laws to benefit domestic institutional investors and attract capital from overseas. AVCAL made its suggestions to the Ralph Committee, a government committee charged with proposing ways to overhaul the nation’s business tax system. The association […]

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American Capital Names COO –

20 years ago

BETHESDA, Md. – Responding to the growth of its portfolio companies, American Capital Strategies Ltd. promoted Executive Vice President Adam Blumenthal as the firm’s first chief operating officer. In his new role, Mr. Blumenthal will direct a team of principals and associates to develop proposals that best fit the needs of the firm’s investment committee […]

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NED Becomes YED With Sale to Yasuda –

20 years ago

TOKYO/PALO ALTO, Calif. – Yasuda Fire & Marine Insurance Co. and Yasuda Mutual Life Insurance Co. were expected to complete their purchase of Nippon Enterprise Development Corp.(NED) by the end of August, said NED’s California-based General Manager Akira Minakuchi. At the deal’s close, NED will be renamed Yasuda Enterprise Development (YED) and will continue to […]

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Artificial Life Acquires Cybermind Ventures –

20 years ago

BOSTON – Joining a growing number of American corporations that are adding corporate venture capital units to complement in-house research and development groups, software developer Artificial Life Inc. in June acquired a majority stake in Frankfurt, Germany-based Cybermind Ventures Inc. The new entity has been renamed Artificial Life Ventures Inc. and will be used to […]

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Essex Kicks Off $50M Venture Fund –

20 years ago

BOSTON – Essex Investment Management in July was slated to launch a late-stage venture capital fund for private clients and institutional investors, said Dan Beckham, a principal and portfolio manager for the firm. The vehicle, with a $50 million cap, will invest in communications technology companies such as software, electronics, telecommunications and the Internet that […]

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Carlyle Preps Funds Nabs Merrill Staffers –

20 years ago

WASHINGTON, D.C. – The Carlyle Group is preparing to launch a series of private equity funds in the coming months that will lead the firm into new investment territory and further its bid to become a money management powerhouse. To aid the effort, the firm also has recruited two senior placement agents from Merrill Lynch […]

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Media Technology Preps $75M Fund –

20 years ago

LOS ALTOS, Calif. – Media Technology Equity Partners L.P. plans to raise a $75 million seed-stage fund this fall, on the heels of a $155 million April close on its first fund, which invests in early- to mid-stage media and information technology companies. More than half of the inaugural fund already is invested, and the […]

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Pittsburgh’s Entrepreneurial Evolution Attracts Redleaf, Lycos and Draper Fisher –

20 years ago

PITTSBURGH – After long bemoaning a lack of funding for Western Pennsylvania’s technology community, the region can now tap into three new sources of venture capital. Two Silicon Valley firms, Redleaf Venture Management and Draper Fisher Jurvetson, and Boston-based technology company Lycos Inc. are preparing to start venture investments in this newest technology hub, joining […]

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Apex IV Notches $50M in First Close –

20 years ago

CHICAGO – Apex Investment Partners in mid-June was halfway to its $100 million target for Apex Investment Fund IV, and sources at the firm hinted the vehicle’s final tally could be much higher than originally expected. The fund, launched in September 1998 (VCJ, October 1998, page 17), will focus on early-stage telecommunications, information technology, software […]

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