Luisa Beltran
Ron Kundich has joined ORIX Venture Finance's Silicon Valley Office. Kundich will be a senior relationship manager for the western region, working closely with Michael David, who was recently promoted to Co-Head of the division. Kundich was most recently a senior VP in US Bank's technology banking group.
Intel Capital and Tudor Ventures have invested a combined $20 million in ArcSoft. Freemont, Calif.-based ArcSoft is a business multimedia software maker.
Chuck Davis has joined Technology Crossover Ventures as a venture partner. Previously, Davis was Fandango's chairman and CEO.
Why is Facebook taking so very long to go public?
That's the question we posed to you yesterday. We asked this after the Financial Times earlier this week said the social media giant will likely delay its IPO until late 2012. The IPO window may be closed for now but that hasn't stopped many from hoping that the long awaited Facebook offering would come this year or even April 2012.
The FT said that CEO Mark Zuckerberg wants to hold off on an IPO for at least a year so that Facebook's employees will stay focused on product developments rather than a payout.
Do we believe the FT? Well, I don’t (Zuckerberg IMHO doesn’t seem like he wants Facebook to go public ever). So we asked you to tell us what's behind FB's stall.
Joncarlo Mark, a former senior portfolio manager at CalPERS, has formed his own firm, Upwelling Capital Group.
Sacramento-based Upwelling will help institutional investors deal with their orphan assets. The firm is targeting any institutional investor that has made commitments or investments to PE or alternative investments. This can include financial institutions, public pension plans, endowments/foundations, family offices, sovereign wealth funds and even secondary funds and fund-of-funds, Mark says.
Mark told peHUB he will help institutions "deal with the stuff that they don't have the bandwidth to deal with. My job is not to replace staff but to help staff."
Opera Solutions said Wednesday that it has received an $84 million investment led by Silver Lake Sumeru. Other investors include Accel-KKR, Invus Financial Advisors, JGE Capital Management, and Tola Capital. New York-based Opera Solutions is a Big Data analytics company.
Kirk Dizon has left Hall Capital Partners.
Dizon left the LP two weeks ago and will be starting his own venture, persons say. Dizon joined Hall Capital in 2006 where he was a managing director and co-head of the private equity group. Before that, he was a partner at Cooley Godward.
"He is a bright guy," one PE exec says of Dizon.
Hall Capital has $22.7 billion under management, with about $10 billion in alternatives, according to the firm's web site. The firm has offices in San Francisco and New York. Hall Capital is a "huge multifamily office in many hedge and PE funds, the PE exec says.
Tremor Video said Monday that it has raised $37 million in funding led by W Capital Partners. Other investors include Keating Capital, Canaan, Draper Fisher Jurvetson Growth, General Catalyst, Meritech, Singapore’s EDBI, Time Warner and SAP Ventures. New York-based Tremor, an independent video ad network, said it has raised more than $115 million.
Earlier this month, Bob Flanagan joined Raymond James Financial as head of the firm's hardware technology banking group. He focuses on semiconductors, optical devices, communications equipment and electronics.
Prior to Raymond James, Flanagan managed Oppenheimer & Co.'s Silicon Valley office. He actually joined Oppenheimer in 2007 when it was CIBC (Oppenheimer acquired CIBC in November 2007). Flanagan was also a senior tech banker at Cowen & Co. and Thomas Weisel but began his career at Salomon Brothers.
Flanagan currently works out of Raymond James' San Francisco office but the IB plans to open a Silicon Valley satellite location later this year. Flanagan spoke to me by phone earlier today.
Gild, which is backed by Globespan Capital Partners, has acquired Coderloop. Financial terms weren't announced. Coderloop has developed an automated code evaluation and scoring platform.