PHILADELPHIA – Comcast Interactive Capital Group, the new venture capital investment unit of cable operator Comcast Corp., concluded its first six months of operations with a flurry of activity, adding a second managing director and inking several more deals. Managing Director John Kole joined Comcast in April, about a month after the company welcomed Sam […]
PALO ALTO, Calif.- MeriTech Capital Partners reached a $550 million first close and expects a second close on its $1 billion target this fall (VCJ, April, page 5), said Managing Director Paul Madera. The fund had commitments close to $800 million by late June, said John Walecka, a partner at Brentwood Venture Capital, one of […]
FAIR OAKS, Calif. – Suburban Sacramento-based Roger Akers recently raised two small funds and is rounding up a third. As co-founder of Akers, Waterman & Co., Mr. Akers is on the road raising $10 million for California Technology Fund II, which will invest in information technology companies. Akers Waterman invests in companies with at least […]
NEW YORK – INVESCO Partnership Fund II, a private equity fund-of-funds, is expected to wrap this fall, having achieved a second close in June on an undisclosed amount, said Parag Saxena, head of INVESCO Private Capital. The $500 million-targeted fund reached a first close in February (VCJ, March, page 25). INVESCO had completed fund raising […]
BOSTON – A marriage between Thomas H. Lee Co. and Putnam Investments looks set to spawn a family of alternative investment vehicles that will see the Thomas H. Lee name stamped on everything from hedge funds to investments in oil and gas. The formation of TH Lee, Putnam Capital in June was the clearest indication […]
SAN FRANCISCO – Dorset Capital, a new venture capital and buyout firm focused on consumer companies, held a first and final $71 million close in late June on its inaugural fund. The firm was formed last spring by three former investment bankers from Montgomery Securities, now known as Bank of America Securities.The transition to private […]
ANN ARBOR, Mich. – Emerging from humble beginnings as a small regional seed fund, Enterprise Development Fund is joining the big leagues with the launch of its much larger $75 million-targeted third effort. More than 10 times the size of Enterprise’s inaugural fund, Enterprise Development Fund III will be raised primarily, but not exclusively, from […]
BIRMINGHAM, Mich. – Sensing the growing popularity of private equity among its institutional clients, Munder Capital Management in early July was ready to hit the fund-raising trail with its first fund-of-funds, Munder Capital Partners. At press time, the asset management firm had completed its private placement memorandum for the $200 million-targeted vehicle, which will invest […]
CHICAGO – Michael Borrelli, an assistant vice president at the University of Chicago who worked on the school’s private equity portfolio, died in late May. Other members of the university’s investment staff have since taken over Mr. Borrelli’s duties, and the school has no plans to change its private equity investment strategy. Mr. Borrelli worked […]
ANDOVER, Mass. – CMGI Corp.’s $2.3 billion acquisition of search engine AltaVista from Compaq Computer Corp. in June fortified the company’s Internet distribution platform, and now the firm plans to raise as much as $1.6 billion in two additional funds for its venture capital arm, @Ventures. CMGI in late June completed a $375 million private […]