BOSTON – Continuing the explosion of new incubators onto the venture scene, Softbank Corp. and Intercontinental Group of Boston have joined forces to launch I-Group HotBank NE. I-Group HotBank will focus on providing New England businesses with what managing director Ellen Roy described as mentor capital, a concept that provides selected companies with access to […]
NEW YORK – Arthur Andersen LLP became one of the latest professional services firm to join the venture capital fray, in January launching its first VC fund, the $500 million Arthur Andersen Ventures LLC. The vehicle will back business-to-business e-commerce, new media and Internet services companies worldwide, focusing on areas where Arthur Andersen already conducts […]
SACRAMENTO, Calif. – The California Public Employees’ Retirement System (CalPERS) in January carved out $500 million to invest in several new venture capital funds being launched by the investment bank Thomas Weisel Partners. “Thomas Weisel is focused on backing high-tech companies in California and elsewhere, and this signals our interests in helping high-tech Californian companies, […]
NEW YORK – Launched nearly two years ago, Morgan Stanley Capital Partners recently held a final close on $3.2 billion for its fourth private equity fund, Morgan Stanley Dean Witter Capital Partners IV LP, which ranks among the 10 biggest private equity funds ever raised. The firm also held a final close for Morgan Stanley […]
WALTHAM, Mass. – Responding to increased limited partner appetite for venture capital offerings, Advanced Technology Ventures recently closed its latest fund at $400 million. Advanced Technology Ventures VI more than doubles the $175 million Advanced Technology Ventures V, which closed in October 1998. “We had to carve back existing LPs; we have the philosophy that […]
NEW YORK – The founders of Atlantic Venture Partners in February joined forces with Draper Fisher Jurvetson to launch the $100 million-targeted Draper Fisher Jurvetson Gotham. The vehicle previously was launched by Atlantic Venture’s Managing Partners Daniel Schultz and Ross Goldstein (VCJ, November 1999, page 26), both of whom had launched their fund in May […]
SPOKANE, Wash. – Northwest Venture Associates in January held an initial $50 million close on its third fund, the $33 million-targeted Northwest Venture Partners III, said Jean Balek-Minor, a general partner at the firm. The firm recently applied to become a Small Business Investment Company (SBIC), which typically leverages two-to-one. Northwest, however, expects to receive […]
DENVER – Perhaps the only aspect of the telecommunications market expanding faster than bandwidth is the private equity capital raised to invest in the sector. In the past several weeks two telecom funds, both based in Denver, closed on an aggregate of $840 million. In January , Denver-based Telecom Partners held a final close on […]
SAN FRANCISCO – Venture Strategy, known for its focus on branding companies, expects a final close at the end of February on its second fund, VS-2, targeted at more than $100 million, said Joanna Rees Gallanter, a founder and managing partner at the firm. The fund held a first close on $55 million in January. […]
BOSTON – Polaris Venture Partners held a first and final close in mid-January on its $800 million Polaris Venture Partners III. The fund, launched in November 1999, will back some 45 to 50 early-stage companies in the United States and abroad, said Jonathan Flint, a founding partner at the firm. Polaris balances investments between information […]