POPALO ALTO, Calif. – Feeling overly dependent on mezzanine funds and private placements to feed their expansion-stage portfolio companies, four venture firms have banded together to launch a $1 billion-targeted fund to support businesses in the six to 18 months leading up to their initial public offerings. Accel Partners, Brentwood Venture Capital, Oak Investment Partners […]
BOSTON – Gene Hill, who recently departed Accel Partners as its remaining health-care specialist, is slated to become a partner at Schroder Ventures. Mr. Hill, who starts his new job April 1, will help manage Schroder Ventures International Life Sciences Fund II, a $200 million-targeted vehicle that was approaching a wrap at press time (VCJ, […]
SAN FRANCISCO – Joining the growing ranks of venture capitalists adding new partners with operating experience, Weiss, Peck & Greer Venture Partners in mid-February toasted the arrival of new Venture Partner Skip Glass, a veteran executive of start-up and entrepreneurial companies. Mr. Glass will help the information technology and health care-focused Weiss, Peck & Greer […]
WEST CONSHOHOCKEN, Pa. – Peter Sears, a co-founder of SmithKline Beecham’s venture subsidiary, S.R. One Ltd., will retire in late May as the firm’s president. Mr. Sears, a 36-year veteran of the company, will end his day-to-day involvement with S.R. One but will continue to represent the firm on the board of four of its […]
PORTLAND, Ore. – Entrepreneur and venture consultant Bill Kallman and venture capitalist Jeffrey Tung are marketing an inaugural fund from their newly formed Timberline Ventures L.L.C., a venture firm focused on the Pacific Northwest. Timberline Venture Partners L.P. is targeting $60 million and likely will be capped at $75 million, Mr. Tung said. The new […]
SIMSBURY, Conn. – Continuing its evolution from secondary investor to full-service private equity shop, Landmark Partners Inc. in early March announced the appointment of a new managing partner to lead the firm’s foray into direct investment. Francisco Borges, the former treasurer of Connecticut and most recently a managing director at Financial Guaranty Insurance Co., will […]
WOODSIDE/IRVINE, Calif. – Crosspoint Venture Partners was slated to launch its sixth fund in late March and hoped for a first and final close on $150 million in April, said Managing Partner John Mumford. Crosspoint Venture Partners 1999 L.P., a follow-up to 1997’s $140 million fund, will target $150 million. The previous vehicle is fully […]
CHICAGO – Continental Illinois Venture Corp. was reincarnated in January as CIVC Partners, and the firm has a fresh $500 million commitment from affiliate Bank of America to make private equity investments. The firm’s prior arrangement with Bank of America was to receive annual allocations of as much as $100 million from the bank. From […]
WELLESLEY, Mass./SAN MATEO, Calif. – Battery Ventures was slated to reach a first and final close on its fifth fund at the end of March. The bi-coastal firm began talking with existing limited partners last fall about Battery Ventures V L.P., which was targeted at $400 million, double the size of the firm’s last vehicle. […]
CHARLOTTESVILLE, Va. – In an effort to streamline private equity investment strategies for its limited partners, The Investment Fund for Foundations (TIFF) recently split its alternative investment fund-of-funds into two separate vehicles, expecting a $75 million final close on the revamped TIFF Partners III by the end of March. TIFF, a non-profit organization created to […]