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., […]
KOLN, Germany – GENES Venture Services, Germany’s oldest venture management group, this year plans to launch Europe’s first fund dedicated to the space technology sector. The fund, Ignition SpaceVentures, aims to become world leader in the field of commercial space start-ups. Apart from telecommunications, the commercial potential of space technologies has to date been largely […]
GENEVA – Index Ventures I, a maiden vehicle launched in September, at press time expected a $62.5 million second close and hired NationsBank Montgomery Securities as a placement agent to guide fund raising to a final wrap in March. The latest close follows a $40.5 million first close in late November, said General Partner Neil […]
SAN FRANCISCO – Adauction.com in December closed its first venture capital round of financing, landing $7 million from a group of venture firms led by Convergence Partners of Menlo Park, Calif. The company also received equity commitments from Geneva Partners, b/z Partners, Band of Angels and Ben Rosen. Silicon Valley Bank provided a bank loan […]
MENLO PARK, Calif. – New Enterprise Associates (NEA) has hired Nobel-prize winning astrophysicist and technology businessman Arno Penzias as a part-time venture partner who will work from his home in San Francisco scouting communications companies and evaluating deals. Dr. Penzias, who worked informally for NEA throughout 1998 to become acquainted with the firm’s portfolio companies […]
SAN FRANCISCO – H&Q Asia Pacific is raising a $750 million private equity fund mostly geared toward buying controlling positions in companies, with the remainder to be focused on more conventional venture capital investments in the region. H&Q Asia Pacific Growth Fund III, L.P. initially will invest in the depressed economies of Thailand and South […]