Staff Writer

NEW YORK – Patricof & Co. Ventures Inc. has launched a $160 million-targeted private equity fund that will invest in Japanese venture capital, buyout and growth equity deals. Patricof is collaborating with the owner of a Tokyo for-profit business school called Globis Corp. to raise Apax Globis Japan, which should hold a first close in […]

SAN FRANCISCO – W.R. Hambrecht & Co., a relatively new online brokerage that offers retail customers access to initial public offerings, recently closed the first of what are slated to be several private equity placements. Novell Inc., a leader in the market of networking technologies, agreed to purchase a minority interest in the firm. Financial […]

ARLINGTON, Va. – The world of online underwriting got a little more crowded recently when Friedman, Billings, Ramsey Group Inc. (FBR) introduced fbr.com, a Web-based investment bank that distributes IPOs and venture capital investments to online investors. Analysts said the move makes sense considering FBR had no previous relationship with retail investors, who now play […]

HARTFORD, Conn. – The State of Connecticut Treasury Department has begun renegotiating its position in private equity partnerships because it believes it is overexposed to alternative assets. The case may mark the first example of a limited partner looking to pare back partnership commitments across the board. The $18.5 billion pension, for now, is looking […]

NORWALK, Conn. – Venture capitalists and their portfolio companies might lose several longstanding accounting benefits if the Financial Accounting Standards Board (FASB) passes a few proposals in the works. The private organization, which makes accounting rules for American companies registered with the Securities and Exchange Commission (SEC) and those that issue audited financial statements, has […]

PALO ALTO, Calif. – Summit Partners at press time was preparing the late spring launch of a $150 million fund that will invest smaller amounts of capital than are usual for the firm, said General Partner Walter Kortschak. Summit in May hired Kip Sheeline, an 11-year veteran of Hambrecht & Quist, to manage the vehicle, […]

PALO ALTO, Calif. – Nine months after closing its latest fund, Asset Management Associates has a new name and address, while the firm’s founder, venerable venture capitalist Franklin “Pitch” Johnson, is going solo once again. The firm changed its name to Alloy Ventures and moved into new offices near its long-time Palo Alto headquarters, taking […]

SCOTTS VALLEY, Calif. – The venture capital industry has enjoyed a prosperous run this past decade, and disk drive manufacturer Seagate Technology Inc. in April was the latest corporation to join the party. With a new venture unit, the company has allocated $25 million for seed- and early-stage venture investments outside Seagate’s core business but […]

LONDON – As part of a strategy to broaden its global investing, 3i, the largest private equity firm in the United Kingdom, is opening its first two offices in the United States. The firm shortly plans to announce the launch of offices in Palo Alto, Calif., and the Boston area, both of which will focus […]

NEWARK, N.J. – Amid a bullish economy that has contributed to institutional investors’ interest in alternative investments, 51 venture capital firms raised a record $4.89 billion in the first quarter of 1999, despite many experts’ continued predictions of an eventual flattening out of the fund-raising frenzy. The figure, compiled by Venture Economics Information Services, a […]