Staff Writer

NEW YORK – Patricia Cloherty, a 30-year veteran of Patricof & Co. Ventures, in mid-December said she would scale back her daily responsibilities as co-chairperson of the firm, starting in June with a transition from general partner to special limited partner. Ms. Cloherty’s duties at the firm will remain unchanged until the transition, after which […]

WAYNE, Pa. – TL Ventures hired Robert Verratti in December as a partner who will establish the firm’s presence on the West Coast by identifying new investment opportunities and managing existing portfolio companies in Southern California. Mr. Verratti, most recently chief executive officer of National Media Corp., the world’s largest infomercial company and a TL […]

MENLO PARK, Calif. – In a somewhat unusual transition, Silicon Valley attorney Allen Morgan in early January joined Mayfield Fund as a venture partner focusing on the Internet, e-commerce and new media. Mr. Morgan made the move after spending the past five or six years advising young companies and building a network in the VC […]

TEL AVIV, Israel – An Israeli affiliate of Patricof & Co. expects a first close on its second vehicle in the near future, but the fund’s managing director, Allan Barkat, declined to provide details about a specific timetable. Apax Israel II is seeking $100 million from investors in the United States, Europe and Israel. The […]

BioVentures Fund Holds Initial Close WORCESTER, Mass. – BioVentures Investors, a first-time fund focusing on health and medical technology, in early January held an initial close on just under $12 million, amid a tough market for medical-related investments. Peter Feinstein, a general partner of the firm, was optimistic about the prospects for deal flow in […]

BURLINGTON, Mass. – In an effort to support the beta testing of its products, Incentive Systems recently closed a second round of venture financing at $7.3 million, just six months after landing its initial round of institutional capital. Polaris Venture Partners led the round, which had only one new investor – Frank Ingari of Growth […]

WARMINSTER, Pa. – OraPharma, a company seeking to prevent periodontal disease and other oral maladies in December raised $16 million in a third round of venture capital financing. New investor Domain Associates led the preferred-stock deal with $5.1 million, and Biotechnology Investments Limited of Guernsey, a publicly traded United Kingdom fund advised by Domain, added […]

FARMINGTON, Conn. – Hanse Halligan, the president and chief investment officer of Crossroads Investment Advisers, will retire at the end of March, the firm said in a written statement. Mr. Halligan will be replaced as president of the firm by Richard Spencer, and his CIO position will be assumed by an investment leadership team composed […]

MENLO PARK, Calif. – Eric Chin joined Information Technology Ventures in January as a principal who will focus on the Internet, e-commerce and software. Mr. Chin will work with the firm’s three general partners, Mark Dubovoy, Sam Lee and Virginia Turezyn. The firm, which had been searching for a principal for some time, also intends […]

STAMFORD, Conn. – Less than two years after joining Olympus Partners as a principal, David Cardenas in mid-December was named a general partner. Mr. Cardenas has been very active in sourcing and evaluating deals in education and business for the $505 million Olympus Growth Fund III, including two current portfolio companies: National Technological University Corp., […]