NEW YORK/TORONTO – Chase Capital Partners and Canadian buyout firm Harrowston Inc. late last summer added some formality to their working relationship, each agreeing to put up C$100 million ($68.13 million) to invest in the country’s growth-stage private companies, as well as buyouts and recapitalizations. Having worked together for a decade on several industrial buyouts, […]
NEW YORK – Red kidney beans are revolutionizing the Internet in a form of on-line currency known as beenz. While the concept is not entirely new, The Beenz Co. Inc. hopes to stand out by creating an open-ended currency that, unlike its competitors, can be used around the globe. Since beenz.com launched its Web site […]
LOS ANGELES – Zone Ventures late last summer promoted Associate Darius Sankey to partner as the firm prepared to wrap its second fund in early November. Zone hired Sankey, who had worked as an adviser to companies seeking venture capital, in February. He previously held positions at information-technology companies including Portland Software, AT&T Solutions and […]
BOSTON – Highland Capital Partners in September promoted General Partner Daniel Nova to managing general partner and Senior Associate Sean Dalton to principal. The promotions do not change the two men’s responsibilities but were made to recognize how much they had grown at the firm in their areas of expertise, said Paul Mader, a managing […]
While the average public market investor day dreams about each month’s hot new initial public offering, savvy private equity investors are turning to a different type of opportunity – taking public companies private. For some companies, conditions in the public equity markets have never been better. But at the lower end of the Russell 2000 […]
To Christopher Gabrieli, a general partner at Bessemer Venture Partners, the income of venture capitalists is an interesting, but sensitive, subject. He says his firm has always believed in a flat compensation structure, but he won’t spell out Bessemer’s exact division of the spoils. Venture capitalists, like almost everyone else, are curious to know how […]
WESTPORT, Conn. – Corporate venture investor internet.com Corp. in April launched a $20 million second fund, which is expected to close at the end of October. The company plans to invest internet.com Venture Fund II L.L.C., in about 30 to 50 companies, with each investment ranging between $100,000 and $1 million, said Alan Meckler, internet.com […]
AUSTIN, Texas – Garden.com Inc., a Web site for gardening and related commerce, went public September 16, offering 4.1 million shares at $12 apiece. The company’s stock priced in the middle of its $11 to $13 filing range. Underwritten by Hambrecht & Quist, BancBoston Robertson Stephens and Thomas Weisel Partners L.L.C., the initial public offering […]
NEW YORK – The one-year returns for venture-backed initial public offerings ending September 30, have skyrocketed to 98.3% from 52.1% as of June 30, according to Venture Economics Information Services, a data company affiliated with VCJ. The year-end returns, for venture backed IPOs in 1998 were 46%, and five and ten year returns were 22.1% […]
SANTA MONICA, Calif. – One month after raising $130 million, Internet incubator eCompanies Venture Group in October hired five executives to round out its management team. While eCompanies’ founders Jake Winebaum and Sky Dayton will continue to manage the fund, which has made two seed-stage investments to date, the new hires are expected to provide […]