When Delta Air Lines Inc. hired Terry Blaney from the Washington State Investment Board a year ago to take an aggressive stance in building its private equity program, the buyout community trumpeted the move. Blaney, well known for turning Washington into one of the larger LBO investors in the mid-1990s, was expected to make more […]
Venture capitalists put a record $12.6 billion to work in the first half of this year, completing more deals with bigger price tags than ever before. About half of the money, almost $6.1 billion, went into Internet companies, mostly content, e-commerce and services enterprises, according to Venture Economics Information Services (VEIS), a sister company to […]
This summer has been hot – and not just in terms of the suffocating heat wave that has enveloped much of the country for the past few months. The venture capital industry also was on fire, as 112 firms raised $10.4 billion in the first half of 1999, according to Venture Economics Information Services, a […]
CAMBRIDGE, Mass. – Interliant Inc., a provider of hosting and enhanced Internet services that allows users to deploy and manage Web sites and network-based applications more effectively than internally developed solutions, went public July 7. The company sold 7 million shares at $10 per share, within its $9 to $11 filing range. The company’s venture […]
HACKENSACK, N.J. – Net2Phone Inc., developer of a technology that allows users to make inexpensive telephone calls over the Internet, went public July 29, offering 5.4 million shares. The company’s stock priced at $15, above its $12 to $14 filing range. Hambrecht & Quist, BT Alex. Brown and Wit Capital Corp. underwrote the initial public […]
CHICAGO – Focal Communications Corp., a provider of data and voice communications to large corporate customers, held an initial public offering July 28. The company offered 9.95 million shares at $13 apiece, above its $10 to $12 filing range. Salomon Smith Barney, Donaldson, Lufkin & Jenrette, Morgan Stanley Dean Witter, Credit Suisse First Boston and […]
REDWOOD CITY, Calif. – InsWeb Corp., an on-line insurance marketplace operator that allows consumers to shop for automobile, term life, homeowners, renters and individual health insurance, held an initial public offering July 22. The company offered 5 million shares at $17 per share, at the top of its $16 to $17 filing range. Softbank Corp., […]
MENLO PARK, Calif. – Steve Spurlock, an attorney for Benchmark Capital for the last four years, was hired as a partner in July to help with the firm’s daily operations. Unlike Benchmark’s six other partners, Spurlock will not work on investments in portfolio companies but instead serve as an “operating partner,” managing the firm’s non-investment […]
LOCUST VALLEY, N.Y. – Amid an ongoing convergence of the Internet and health-care services, Dauphin Capital Partners recently wrapped a 13-month fund raising effort for its first fund at $30 million. “A year ago, I would have expected [the fund] to focus on the traditional medical service industry,” said James Hoover, founder of Dauphin Capital. […]
PALO ALTO, Calif. – Accel Partners in early August closed Accel VII on $480 million, with commitments from several new endowments and all of the firm’s previous backers, said Managing Partner Jim Breyer. The fund was launched in June, seeking $350 million from financial investors and $150 million from entrepreneurs and strategic corporate backers (VCJ, […]