BETHESDA, Md. – Responding to the growth of its portfolio companies, American Capital Strategies Ltd. promoted Executive Vice President Adam Blumenthal as the firm’s first chief operating officer. In his new role, Mr. Blumenthal will direct a team of principals and associates to develop proposals that best fit the needs of the firm’s investment committee […]
TOKYO/PALO ALTO, Calif. – Yasuda Fire & Marine Insurance Co. and Yasuda Mutual Life Insurance Co. were expected to complete their purchase of Nippon Enterprise Development Corp.(NED) by the end of August, said NED’s California-based General Manager Akira Minakuchi. At the deal’s close, NED will be renamed Yasuda Enterprise Development (YED) and will continue to […]
BOSTON – Joining a growing number of American corporations that are adding corporate venture capital units to complement in-house research and development groups, software developer Artificial Life Inc. in June acquired a majority stake in Frankfurt, Germany-based Cybermind Ventures Inc. The new entity has been renamed Artificial Life Ventures Inc. and will be used to […]
BOSTON – Essex Investment Management in July was slated to launch a late-stage venture capital fund for private clients and institutional investors, said Dan Beckham, a principal and portfolio manager for the firm. The vehicle, with a $50 million cap, will invest in communications technology companies such as software, electronics, telecommunications and the Internet that […]
WASHINGTON, D.C. – The Carlyle Group is preparing to launch a series of private equity funds in the coming months that will lead the firm into new investment territory and further its bid to become a money management powerhouse. To aid the effort, the firm also has recruited two senior placement agents from Merrill Lynch […]
LOS ALTOS, Calif. – Media Technology Equity Partners L.P. plans to raise a $75 million seed-stage fund this fall, on the heels of a $155 million April close on its first fund, which invests in early- to mid-stage media and information technology companies. More than half of the inaugural fund already is invested, and the […]
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 […]
CHICAGO – Apex Investment Partners in mid-June was halfway to its $100 million target for Apex Investment Fund IV, and sources at the firm hinted the vehicle’s final tally could be much higher than originally expected. The fund, launched in September 1998 (VCJ, October 1998, page 17), will focus on early-stage telecommunications, information technology, software […]
SAN FRANCISCO – Oil company Chevron Corp. at press time was in the midst of creating a venture capital unit that will have both strategic and financial goals. Chevron Technology Ventures L.L.C. will receive about $50 million from its parent company to invest in venture capital partnerships, co-invest and make direct deals over the next […]
NEW YORK – Maiden venture firm Odeon Capital Partners is setting its sights on technology deals in Silicon Alley and beyond with the backing of several strategic limited partners who helped the vehicle reach a $110 million final close in early July. Launched early this year, Odeon will invest in enterprise software, e-commerce, strategic consulting […]