Staff Writer

BOSTON – Ascent Venture Management Inc. in mid-May began raising its first fund since spinning out from the Pioneer Group earlier this year (VCJ, March, page 5). Targeted at $125 million, Ascent Venture Partners III, L.P. was named to reflect the management team’s experience in running two prior funds under the Pioneer banner. The team […]

NEW YORK – The online wine industry has not aged gracefully. Unlike books and compact discs, the distribution of alcoholic beverages via the Internet is subject to several regulatory barriers that differ in literally every state. “You can pick up a phone and order a pair of blue jeans and have it shipped from state […]

WALTHAM, Mass. – Named after the region of Spain where the first venture capitalist, Christopher Columbus, received funding for his historic voyage, Castile Ventures also considers itself somewhat of an explorer. While the seed- and early-stage data networking market is certainly not uncharted territory, Castile is targeting – with a $50 million maiden vehicle wrapped […]

MENLO PARK, Calif. – Mayfield Fund raked in $450 million for Mayfield X from a single late-May road show, allowing the firm to schedule a June 15 first and final close (VCJ, June, page 25). The firm also promoted David Ladd, Allen Morgan and Todd Brooks to general partners from venture partners, bringing the firm’s […]

SEATTLE – With strong support from existing and new limited partners, ARCH Venture Partners in early May wrapped its fourth fund on $175 million, 40% oversubscribed and more than 60% larger than the group’s previous effort. ARCH Venture Fund IV, focused on seed- and early-stage information technology, life sciences and physical sciences deals, welcomed a […]

SEATTLE – Seattle University is considering increasing its alternative asset allocation to as much as 15% from its current level of 5%, said Denis Ransmeier, the endowment’s vice president of finance. Mr. Ransmeier said the $115 million endowment already has made investments in a number of venture capital funds and a hedge fund, but he […]

MENLO PARK, Calif. – As a former internist who had diagnosed many patients with cancer, venture capitalist Ross Jaffe wanted to back a company that worked on early detection technology to give patients better treatment options and increased odds for survival. Toward that end, Dr. Jaffe’s information technology and health-care focused firm, Brentwood Venture Capital, […]

NEW YORK – BT Capital, the private equity investment arm of Bankers Trust Corp., has found a replacement for Douglas Brent, who recently resigned as president to start his own firm. Charles Ayres in May left his post as managing director at New York and Menlo Park, Calif.-based McCown De Leeuw & Co. to head […]

NEW YORK – In another sign of J.P. Morgan & Co.’s growing commitment to the private equity arena, the investment bank’s chief financial officer, John Mayer, has moved over to run Morgan Capital Corp., the firm’s private equity arm. Morgan Capital manages a portfolio of more than $1 billion and earlier this year began fund […]

Unlike the United States venture market, where fund-raising figures have plotted a course headed straight to the heavens and stayed the path for the better part of the past decade, corresponding Canadian figures, compiled by Toronto-based information firm Macdonald & Associates Ltd., trace a more gentle upwards slope of slow but steady growth. The continued […]