PALO ALTO, Calif. – MeriTech Capital was slated for an early November wrap on $1.1 billion for its inaugural later-stage venture fund. The vehicle, created last spring by Accel Partners, Brentwood Venture Capital, Oak Investment Partners and Worldview Technology Partners, will provide funding for the maturing portfolio companies of its sponsoring funds (VCJ, April, page […]
SAN FRANCISCO – A growing number of early-stage venture-backed companies are passing up the Holy Grail of an initial public offering in favor of lucrative merger offers from their newly public and richly valued Internet brethren. Recent announcements of three high profile deals – Digital Island Inc.’s purchase of Sandpiper Networks Inc., Excite@Home Corp.’s acquisition […]
PALO ALTO, Calif. – Charter Growth Capital II was expected to reach a first close on about $150 million in mid-November, with capital raised mainly from Charter’s previous backers, said General Partner Kevin McQuillan. Charter II has a $200 million target and, like its predecessor, the $106 million Charter Growth Capital I, which wrapped in […]
SEATTLE – Guide Ventures in late October wrapped its inaugural fund, Guide Ventures II L.P., on $21 million. Managing directors Russ Aldrich and Jim Thornton raised the fund from 19 limited partners, including institutional investors, late-stage venture capital firms and family offices. Thornton said Guide targeted West Coast L.P.s exclusively, and he described the fund-raising […]
NASHVILLE, Tenn. – Richland Ventures, an investor in the health-care, media, entertainment and information services sectors, held a $200 million final close on Richland Ventures III, above its $150 million target. The fund was launched in January and held a first close in late May on $92 million, followed by a second close on $120 […]
RALEIGH, N.C. – Having held a $40 million first close on Harbinger/Aurora Venture Fund L.L.C. in mid-October, partners at The Aurora Funds Inc. hope to raise a total of $100 million for the fund’s final close early next year. With its first two funds, Aurora invested $18 million in seed and early-stage companies based primarily […]
DALLAS – Incubator STARTech, which manages seed and early-stage venture funds with a maximum deal size of $7 million, recently cultivated an informal co-investment relationship with the Dallas Angels, a group of 85 high-net-worth investors. “The Dallas Angels fills a gap where they can contribute between $500,000 and $2 million to our investments,” said STARTech […]
SAN RAMON, Calif. – ZapMe! Corp., a company that provides satellite-based Internet access to schools, held an initial public offering October 20, selling 9 million shares at $11 apiece, in the middle of its $10 to $12 pricing range. Merrill Lynch & Co., Deutsche Bank Alex. Brown, Thomas Weisel Partners L.L.C. and Wit Capital Corp. […]
RIVERSIDE, Calif. – While the Inland Empire region of California lies only 50 miles east of Los Angeles, to entrepreneurs and new media professionals there trying to attract venture capital financing, it may as well be located 50 miles west. Through a coalition of 24 local universities, cheap living and regularly scheduled venture capital forums, […]
DALLAS – Allied Riser Communications Corp., a fiber optic networks company, went public October 29, offering 15.8 million shares at $18 apiece. The stock priced at the top of its $16 to $18 filing range. Goldman, Sachs & Co., Merrill Lynch & Co., Donaldson, Lufkin & Jenrette Securities Corp. and Thomas Weisel Partners L.L.C. underwrote […]