Trying to remain an active venture capital investor, the Los Angeles County Employees Retirement Association (LACERA) recently made a domestic fund-of-funds investment and last year revamped its private equity portfolio to include overseas partnerships. Part of the shift in LACERA’s program is the result of an ongoing problem pension investors have while trying to forge […]
MCLEAN, Va. – Online Resources & Communications Corp., a provider of outsourced e-commerce services for financial institutions, held an initial public offering June 4, offering 3.1 million shares at $14 each, the high end of the company’s $12 to $14 filing range. J.P. Morgan & Co., U.S. Bancorp Piper Jaffray and Keefe, Bruyette & Woods […]
SAN MATEO, Calif. – Persistence Software Inc., an e-commerce software developer, went public June 24, offering 3 million shares at $11 apiece. The company’s stock priced at the high end of its $9 to $11 filing range. BancBoston Robertson Stephens, U.S. Bancorp Piper Jaffray and SoundView Technology Group underwrote the initial public offering, which left […]
The first six months of 1999 produced 96 venture-backed initial public offerings – more than three times the 29 IPOs completed the preceding half year, according to Venture Economics Information Services (VEIS), a data company affiliated with VCJ. January through June also saw larger deal sizes, soaring average first-day run-ups and younger companies taking the […]
SAN FRANCISCO, Calif./PARIS – Newbury Ventures focuses on seed- and early-stage communications and health-care companies in the United States and overseas. The firm’s managing partners – Jay Morrison, Bruce Bauer and Ossama Hassanein, along with Partner Colleen Young – work closely with entrepreneurs and VCs around the globe to help identify, support and nurture start-ups […]
Biotechnology, considered the darling investment sector of the high rollers in the early 1990s, seems to have fallen by the wayside, and investors are now wondering what kind of future this sector holds. Returns in biomedical portfolios in recent years have lagged behind those in information technology to the extent that large diversified venture firms […]
BETHESDA, Md. – AppNet Systems Inc., a provider of Internet and e-commerce services to medium- and large-size businesses, went public June 17. The company offered 6 million shares at $12 apiece, the low end of its $12 to $14 filing range. Credit Suisse First Boston, Hambrecht & Quist, Deutsche Banc Alex. Brown, The Robertson-Humphrey Co. […]
SUNNYVALE, Calif. – Ariba Inc., a provider of business-to-business e-commerce solutions, held an initial public offering June 23. The company offered 5 million shares at $23 apiece, above its $20 to $22 filing range. Morgan Stanley Dean Witter, Dain Rauscher Wessels, Deutsche Banc Alex Brown, Merrill Lynch & Co., Discover Brokerage Direct and E*Trade Securities […]
PITTSBURGH – After long bemoaning a lack of funding for Western Pennsylvania’s technology community, the region can now tap into three new sources of venture capital. Two Silicon Valley firms, Redleaf Venture Management and Draper Fisher Jurvetson, and Boston-based technology company Lycos Inc. are preparing to start venture investments in this newest technology hub, joining […]
SAN FRANCISCO – Salon.com, an online publication and community site, went public June 22, offering 2.5 million shares at $10.50 apiece. The company’s stock priced at the low end of its $13.50 to $10.50 filing range. W.R. Hambrecht & Co. and Daiwa Securities America Inc. underwrote the initial public offering, which left 10.73 million shares […]