Try having a conversation about the current trend in mergers and acquisitions without using the word “growth” or any form of “consolidate.” It could be difficult, as venture capitalists who were asked to discuss increased sales of VC-backed companies found out. Consolidation in a diversity of industries, ranging from networking to medical devices, motivated buyers […]
MELO PARK, Calif. – When it comes to Information Technology Ventures (ITV), its name is truly apropos because the firm invests exclusively in IT. Formed in 1994 by Mark Dubovoy, Sam Lee and Virginia Turezyn, ITV often is the first institutional investor, dedicating about $7 million over the life of a portfolio company. Eric Chin […]
BARTLESVILLE, Okla. – Eager to tap a market ripe with attractive, new venture funds, Knightsbridge Advisers Inc. in early March concluded fund raising for its latest fund-of-funds, Knightsbridge Integrated Holdings IV. Knightsbridge’s third fund-of-funds, which closed on $102.3 million in September 1997, still has room for two or three more investments, but the firm did […]
CHAMPAIGN, Ill. – While their vehicle’s name may suggest a remote firm in the hinterlands, the managers of Open Prairie Ventures I believe that the Midwest – Champaign-Urbana, Ill, in particular – will provide as much deal flow as a bustling urban center. While the twin cities of Champaign and Urbana are surrounded by miles […]
DENVER – As Sovereign Financial Services Inc. began pre-marketing its new private equity fund-of-funds, Sovereign New Millennium Fund II, its managing principals decided the vehicle needed a less cumbersome nickname. They settled on “Millie,” in honor of Managing Principal Mary Kelley’s late mother. Millie will seek $125 million from high-net-worth individuals, smaller foundations, pension funds […]
BOSTON/PALO ALTO, Calif. – Spectrum Equity Partners in January held a $650 million second and final close on Spectrum Equity Investors III L.P., and the firm was slated to launch a side fund for entrepreneurs in February. The side fund will not exceed more than $19.5 million, or 3% of the larger vehicle, a limit […]
HONG KONG/SINGAPORE – When Arral & Partners raised the $170 million Arral Pacific Equity Trust II in 1990, expectations on the part of its managing directors and Western limited partners were understandably high. After all, Asia’s economies were growing rapidly, and the fund’s managers were a top-flight team. Nearly a decade later, however, the vehicle […]
CHICAGO – Veteran venture capitalist and entrepreneur Len Batterson has been busy launching an institutional venture fund and creating an online resource for VCs. Mr. Batterson, a former director of Allstate Insurance Co.’s venture capital division, is president and chief executive of Batterson Venture Partners, a private venture firm that until now has worked with […]
PORTLAND, Ore. – Banking their hopes on the future success of the Silicon Forest, former consultants Michael Lubitz and Steve Brown are preparing to launch their first venture fund in the Pacific Northwest. Mr. Lubitz, most recently a venture consultant to information technology businesses, and Mr. Brown, a consultant to small- to medium-size manufacturing businesses […]
POPALO ALTO, Calif. – Feeling overly dependent on mezzanine funds and private placements to feed their expansion-stage portfolio companies, four venture firms have banded together to launch a $1 billion-targeted fund to support businesses in the six to 18 months leading up to their initial public offerings. Accel Partners, Brentwood Venture Capital, Oak Investment Partners […]