RESEARCH TRIANGLE PARK, N.C. – Southeast Venture Partners, a backer of information technology companies, held a $35 million final close in April on its Southeast Information Technology Fund II L.L.C., and already committed half of the vehicle, Managing Director David Blivin said. Southeast invests in early-stage telecommunications, enterprise management, Internet infrastructure, bandwidth enablement and e-commerce […]
PALO ALTO, Calif. – MeriTech Capital, a new venture fund sponsored by a handful of existing technology-focused VC firms, expects a first close in mid-May and a final wrap in June, said John Walecka, the Brentwood Venture Capital general partner who represents his firm on MeriTech’s investment committee. Launched last spring, MeriTech aims to raise […]
SAN FRANCISCO – Weiss, Peck & Greer Venture Partners was busy this spring launching a new fund, welcoming a new general partner and tipping its investment strategy a bit more toward information technology and away from health care and life sciences. By press time, the firm had almost finished raising Weiss, Peck & Greer Associates […]
SAN FRANCISCO – Hambrecht & Quist’s Access Technology Partners L.P. surged to almost three times its target and at press time had scheduled a mid-May wrap on $336 million, said Managing Partner Charlie Walker. H&Q had planned to launch the fund a year ago, with the intention of raising $200 million for both direct deals […]
SANTA MONICA, Calif. – Palomar Ventures I, the freshman fund of Randy Lunn and Jim Gauer’s year-old venture firm, reached a first close in April on a little more than $50 million, Mr. Lunn said. The Southern California-focused fund is targeting $75 million, and Mr. Lunn said he foresees no problem reaching that goal (VCJ, […]
MADISON, Wis. – In an effort to spur in-state biotechnology investing, trustees of the Wisconsin State Investment Board in mid-April approved a proposed $50 million venture fund to invest in biotechnology, life sciences and possibly other high-tech entrepreneurial efforts developed in and around the state. The pension is launching the fund to provide support for […]
MENLO PARK, Calif. – When several venture firms attempted to recruit Hambrecht & Quist Senior Equity Analyst Farrokh Billimoria, he turned to his friend, venture capitalist Steve Diamond for advice. As it turned out, Mr. Diamond’s firm, Sprout Group, was in the market for a general partner with a background in networking and communications – […]
NEW YORK – Patricof & Co. Ventures Inc. has launched a $160 million-targeted private equity fund that will invest in Japanese venture capital, buyout and growth equity deals. Patricof is collaborating with the owner of a Tokyo for-profit business school called Globis Corp. to raise Apax Globis Japan, which should hold a first close in […]
SAN FRANCISCO – W.R. Hambrecht & Co., a relatively new online brokerage that offers retail customers access to initial public offerings, recently closed the first of what are slated to be several private equity placements. Novell Inc., a leader in the market of networking technologies, agreed to purchase a minority interest in the firm. Financial […]
ARLINGTON, Va. – The world of online underwriting got a little more crowded recently when Friedman, Billings, Ramsey Group Inc. (FBR) introduced fbr.com, a Web-based investment bank that distributes IPOs and venture capital investments to online investors. Analysts said the move makes sense considering FBR had no previous relationship with retail investors, who now play […]