SARATGOGA, Calif./PITTSBURGH – Expanding its deal flow to the Mid-Atlantic United States, in June Silicon Valley-focused Redleaf Venture Management held a first close on its second fund and made plans to open a Pittsburgh office. Redleaf Venture II is one of three investors from the VC hubs of the Valley and Boston, including Draper Fisher […]
PALO ALTO, Calif. – Summit Accelerator Fund, created to back smaller deals than Summit Partners’s late-stage focus, officially began fund raising in late June and was expected to reach a first close by the end of July, said Kip Sheeline, who was hired earlier this year from Hambrecht & Quist to manage the vehicle (VCJ, […]
REDWOOD CITY, Calif. – Labrador Ventures expects a September launch for Labrador Ventures VI, the firm’s first vehicle targeting institutional investors as well as individuals. Previous Labrador funds were raised mainly from high-net-worth individuals, however the firm expects about half of Fund VI’s $60 million target to come from institutions, said Managing Director Larry Kubal. […]
ALEXANDRIA, Va. – Marketing the first institutional fund in its 11-year history, Columbia Capital garnered more than $450 million in just over six months of fund raising. The new fund, Columbia Capital Equity Partners II, will continue the firm’s strategy of investing in the communications and information technology sectors. Managing Director Jim Fleming said Columbia […]
LOS ANGELES – New venture firm Encore Capital Partners closed Encore Venture Partners LP at $50 million in early July. Joe Reece and Stephen DesJardins, two investment bankers from Donaldson, Lufkin & Jenrette, founded Encore to capitalize on the bevy of media and technology companies in the Los Angeles and San Diego areas. Marketing efforts […]
ZURICH, Switzerland – Advisers on Private Equity AG closed its fifth deal in June, two months after a euro100 million ($103.52 million) final close on its second fund-of-funds, Private Equity European Partners C.V. (PEEUP). Advisers Managing Director Bruno Raschle said the fund-of-funds invested an undisclosed amount with London-based buyout group Duke Street Capital. Mr. Raschle […]
SAN FRANCISCO – Pantheon Ventures was readying a European fund-of-funds, tentatively called Pantheon Europeon Fund II Ltd., just as its latest United States vehicle was nearing a final wrap. The European fund, planned for launch this fall, will target $400 million but will be raised in euros, said Managing Director Gary Hiatt. Managed from Pantheon’s […]
LONDON – Two of the big five accounting firms openly disagree as to whether buyout activity in the United Kingdom rose or fell in the second quarter – and what the prospects are for the remainder of the year. KPMG Corporate Finance said its latest study has shown that the value of larger – GBP10 […]
NEW YORK – Robert Angelica, president and chief investment officer of AT&T Investment Management Corp. (ATTIMCO), was promoted to chairman and chief executive of the pension following the retirement of Larry Prendergast in late June. Mr. Angelica will be responsible for investing and overseeing the $18.7 billion pension, where he has worked since its founding […]
SYDNEY, Australia – The Australian Venture Capital Association (AVCAL) has requested the government revamp its domestic and international venture capital laws to benefit domestic institutional investors and attract capital from overseas. AVCAL made its suggestions to the Ralph Committee, a government committee charged with proposing ways to overhaul the nation’s business tax system. The association […]