AUSTIN, Texas – Crediting an abundance of deal flow in the Southwestern United States, Austin Ventures has almost fully invested its $320 million sixth fund and is on the fund-raising trail with another vehicle targeting twice that size. Austin Ventures VII is targeting a $750 million first and final close in late October, said General […]
SCHAUMBURG, Ill.- Rud Istvan has a new title and $50 million burning a hole in his pocket. Christened the “general manger for future businesses” at Motorola Inc. late last summer, Istvan’s job is to invest in young companies that will provide good returns, plus some strategic benefit to the suburban Chicago telecommunications company. Istvan, who […]
DENVER – Gail Marmorstein Sweeney is suing her former employer, private equity adviser and funds-of-funds manager Sovereign Financial Services Inc., along with its parent company and two remaining managing principals, claiming she was wrongly dismissed. In a complaint filed with the Denver District Court, Sweeney’s suit alleges she was inappropriately terminated in April and the […]
NORWALK, Conn. – The Financial Accounting Standards Board (FASB) made several decisions this summer, two that will please venture capitalists and one that will not (VCJ, June, page 5). The FASB in early September issued a draft proposal to do away with pooling, a method of accounting often used during mergers and acquisitions, leaving purchase […]
&When the founders of venture-backed home networking company Epigram Inc. first met with their eventual acquirer, high-speed broadband communications provider Broadcom Corp. late last year, Epigram was by no means soliciting a sale. Rather, the two companies approached each other rather guardedly. Viewing each other as potential competitors in an emerging industry, Epigram and Broadcom […]
MENLO PARK, Calif. – The owners of electronic organizers all across Silicon Valley will have to make several adjustments to their address books as Brentwood Venture Capital and Institutional Venture Partners (IVP) divide their enterprises and regroup into separate health-care and information technology firms. Two health-care specialists from Crosspoint Venture Partners also will take part […]
SAN FRANCISCO – Omega Ventures, which spun out of Robertson Stephens in the spring, changed its name to Crosslink Capital and held an $80 million first close in early September on its first new fund (VCJ, March, page 5). Crossover III, which is targeting $200 million, is expected to hold a second and final close […]
VIENNA, Va. – Two Washington, D.C.-area entrepreneurs in August held an initial close on their second hybrid angel club/venture fund, aiming to take advantage of early-stage deal flow neglected by a VC industry that is awash in capital and increasingly focused on later-stage investments. By creating the eMedia Club and its more generalist older sibling, […]
SANTA MONICA, Calif. – Just three months after commencing operations – two of which were spent on the fund raising trail – e-business incubator eCompanies in late August wrapped its $130 million first venture fund, another clear indication of institutional investors’ deep fascination with cyberspace. Founded in May by entrepreneurs Jake Winebaum and Sky Dayton, […]
SANTA CLARA, Calif. – CommTouch Software Ltd., a global provider of email and messaging services, went public on July 13. The company offered 3.3 million shares of common stock at $16 each, within its $15 to $17 filing range. U.S. Bancorp Piper Jaffray, Prudential Securities and Warburg Dillon Read L.L.C. underwrote the initial public offering, […]