SEATTLE – With strong support from existing and new limited partners, ARCH Venture Partners in early May wrapped its fourth fund on $175 million, 40% oversubscribed and more than 60% larger than the group’s previous effort. ARCH Venture Fund IV, focused on seed- and early-stage information technology, life sciences and physical sciences deals, welcomed a […]
SEATTLE – Seattle University is considering increasing its alternative asset allocation to as much as 15% from its current level of 5%, said Denis Ransmeier, the endowment’s vice president of finance. Mr. Ransmeier said the $115 million endowment already has made investments in a number of venture capital funds and a hedge fund, but he […]
MENLO PARK, Calif. – As a former internist who had diagnosed many patients with cancer, venture capitalist Ross Jaffe wanted to back a company that worked on early detection technology to give patients better treatment options and increased odds for survival. Toward that end, Dr. Jaffe’s information technology and health-care focused firm, Brentwood Venture Capital, […]
NEW YORK – BT Capital, the private equity investment arm of Bankers Trust Corp., has found a replacement for Douglas Brent, who recently resigned as president to start his own firm. Charles Ayres in May left his post as managing director at New York and Menlo Park, Calif.-based McCown De Leeuw & Co. to head […]
NEW YORK – In another sign of J.P. Morgan & Co.’s growing commitment to the private equity arena, the investment bank’s chief financial officer, John Mayer, has moved over to run Morgan Capital Corp., the firm’s private equity arm. Morgan Capital manages a portfolio of more than $1 billion and earlier this year began fund […]
Unlike the United States venture market, where fund-raising figures have plotted a course headed straight to the heavens and stayed the path for the better part of the past decade, corresponding Canadian figures, compiled by Toronto-based information firm Macdonald & Associates Ltd., trace a more gentle upwards slope of slow but steady growth. The continued […]
frankfurt, Germany – Following the beaten path of many other United Kingdom houses searching for a piece of the private equity action in Europe’s largest economy, Mercury Private Equity (MPE) in mid-May opened a sister office in Frankfurt. The group also dropped the somewhat cumbersome Mercury Asset Management Private Equity tag in favor of the […]
LONDON/BOSTON – 3i will open specialist technology investment offices this summer in Boston and Silicon Valley, a move that underlines the firm’s ambition to create the first integrated global technology business, said Director Martin Gagen, who will head expansion efforts in the United States. The firm previously launched a venture capital business in the U.S. […]
MENLO PARK, Calif. – Citing a desire to participate in more late-stage financing opportunities, Sequoia Capital Partners recently closed on the $350 million Sequoia Capital Franchise Fund, which will invest in the firm’s existing portfolio companies. “We noticed over the years that a lot of value was created post-initial public offering,” said Sequoia General Partner […]
WASHINGTON, D.C. – In a move to further immerse union pensions into the world of private equity, Ullico Inc. in early June partnered with the Inter-American Development Bank to raise two small venture funds in Chile and Argentina. Ullico, which manages capital for labor union pensions through jointly managed trust funds, has been a fast-growing […]