MENLO PARK, Calif. – As a sign of its ongoing commitment to medical deals, ONSET Ventures in mid-March hired its executive-in-residence Leslie Bottorff as a venture investor. Ms. Bottorff, who was vice president of sales and marketing at the medical device company Medtronic Inc., is the firm’s only professional devoted to medical investments. ONSET backs […]
MENLO PARK, Calif. – Just 19 months after his arrival at San Francisco venture firm Hummer Winblad, prominent columnist and Internet guru Bill Gurley has defected to Bay Area rival Benchmark Capital. Lateral moves such as Mr. Gurley’s are highly uncommon in the close-knit VC community. Benchmark, however, has been red-hot of late – reaping […]
CHICAGO – Semir Sirazi, a former executive with U.S. Robotics and a consultant to small companies, recently joined Sprout Group’s Chicago office as a venture partner. Dr. Sirazi will bring deal flow to the firm through his network of contacts in the technology community and will assist Sprout portfolio companies in their development. “He has […]
PORTLAND, Maine – iDEAL Partners recently launched a $125 million fund with pledged equity from Berkshire Partners and BancBoston Capital. Former Wright Express Inc. Chief Executive Paul Walsh will manage the fund. “I’m a growth guy,” Mr. Walsh said. “I was looking for a partnership to try to build an intelligent platform, have some fun […]
WASHINGTON, D.C. – Although the federal government’s research-and-development tax credit has not greatly benefited venture capitalists or their young portfolio companies, Congress’s attempt to make R&D write-offs permanent might eventually prove advantageous. Mark Heesen, the National Venture Capital Association’s director of legislative, regulatory and entrepreneurial affairs, noted that the current tax credit structure does not […]
When Daniel Coleman walked into the offices of Job Link Inc. two years ago, he stepped back 30 years to a time when he was a teenager growing up in Tampa, Fla. The minority-owned employment agency reminded him of the many out-reach programs located in the poor neighborhoods of his youth, and now it was […]
ANNAPOLIS, Md. – St. Paul Venture Capital has created its fifth satellite fund, the late-stage Annapolis Ventures, which will be invested by a former managing director at T. Rowe Price. Doug Hickman, who spent 14 years at the investment house, oversaw T. Rowe Price’s late-stage private equity vehicles, Threshold funds. Mr. Hickman will essentially perform […]
SAN FRANCISCO – Venture Strategy Partners, the venture arm of brand-consulting firm Venture Strategy Group, held a $25 million final close in March on its first fund. Targeted at $40 million when it was launched in late 1997 (VCJ, October 1998, page 22), the firm later cut its goal in half when it was decided […]
BOSTON – The National Venture Capital Association in April awarded lifetime achievement awards to Peter Brooke, Advent International Corp.’s founder and chairman, and Thomas Perkins, founding partner of Kleiner Perkins Caufield & Byers. Mr. Brooke, most noted for bringing venture capital to more than 20 countries, was singled out for his talent in applying U.S.-style […]
SYDNEY, NEW SOUTH WALES, Australia – Two Australian venture groups recently launched domestic private equity funds, and a third group is awaiting a government overhaul of the tax system before raising its vehicle. Development Australia Nominees Ltd. is launching a second fund-of-funds targeting A$300 million ($191 million) for investment in Australian venture capital and buyout […]