NEWTON, Mass. – Phase Forward Inc., a provider of Internet-based clinical trial data collection and management solutions, closed an $8 million second round of venture financing in early November. The lead investor was Sprout Group, which joined existing investors Atlas Venture and North Bridge Venture Partners. Sources declined to give details on the size of […]
SUNNYVALE, Calif. – Interwoven Inc., a developer of enterprise Web production systems that manage the development and arrangement of Web sites, in mid-November raised $7.2 million from a half-dozen venture capital firms. Foundation Capital led the convertible preferred stock financing followed by Accel Partners, Integral Capital Partners, Draper Fisher Jurvetson, JK&B Capital and Charter Ventures. […]
SAN FRANCISCO – Handspring, a company designing the next generation of personal digital assistants (PDAs), recently raised an undisclosed amount of capital in a first round of venture financing from Benchmark Capital and Kleiner Perkins Caulfield & Byers. The company’s founders, PalmPilot developers Donna Dubinsky and Jeff Hawkins, plan to make a more consumer-oriented product […]
AUSTIN, Texas – QuestLink Technology Inc., a company that allows engineers to purchase various prototype materials online, in November secured $3 million in venture financing. Needham Capital Partners, the venture arm of a semiconductor-focused investment banking boutique, brought $2 million to the table as a first-time investor. Trellis Partners, QuestLink’s first institutional backer, returned with […]
TEL AVIV, Israel – GE Capital’s Equity Capital Group (ECG) in October appointed director Sam Cubac to head the group’s new office in Tel Aviv. ECG made its first foray into the Israeli market in 1997 with a $20 million joint venture with the ABS GE Capital Giza Fund, a high-technology vehicle founded in partnership […]
BOSTON – The two venture firms recently spawned from Media/Communications Partners were well into their inaugural fund-raising efforts this winter, with M/C Venture Partners expecting to wrap a $250 million vehicle in December and Great Hill Partners anticipating a first and potentially final $300 million close in January. The six managing partners of Media/Communications split […]
SANTA FE, N.M. – Vestor Partners saw a final close in mid-October that raked in $55 million on its debut buyout fund, said David Chase, a managing general director at the firm. The fund is unusual in that its 75 limited partners are comprised only of wealthy individuals. Commitments to the fund ranged in size […]
WELLESLEY, Mass. – Mi3, a new venture firm focusing on the medical imaging market, in late November held a first close on $5 million from the Indiana University Department of Radiology. Mi3, which stands for Medical Imaging Innovation and Investment, will target a final close in June somewhere between $25 million and $35 million. The […]
NEWARK, N.J. – In a third quarter that saw venture-backed initial public offerings drop to 20 from 31 in the second quarter, venture firms increasingly turned to mergers and acquisitions as an exit strategy in 1998, according to statistics released in November by Venture Economics Information Services. The quarter began with a hot venture-backed IPO […]
WELLESLEY HILLS, Mass. – Network-1 Security Solutions Inc., a designer of software products that provide security for computer networks and their information resources, went public November 12, offering 1.7 million shares at $6 apiece. Stocks priced at the company’s proposed offer price. The initial public offering, which left 4.9 million shares of common stock outstanding, […]