WELLESLEY, Mass./SAN MATEO, Calif. – Battery Ventures was slated to reach a first and final close on its fifth fund at the end of March. The bi-coastal firm began talking with existing limited partners last fall about Battery Ventures V L.P., which was targeted at $400 million, double the size of the firm’s last vehicle. […]
CHARLOTTESVILLE, Va. – In an effort to streamline private equity investment strategies for its limited partners, The Investment Fund for Foundations (TIFF) recently split its alternative investment fund-of-funds into two separate vehicles, expecting a $75 million final close on the revamped TIFF Partners III by the end of March. TIFF, a non-profit organization created to […]
AUSTIN, Texas Vignette Corp., a provider of Internet relationship management software products and services, went public February 18, offering 4 million shares at $19 apiece. The stock priced above the company $15 to $17 filing range. Morgan Stanley Dean Witter, Hambrecht & Quist and Dain Rauscher Wessels underwrote the initial public offering, which left 26.32 […]
HORSHAM, Penn. – VerticalNet Inc., an owner and operator of 33 industry-specific, business-to-business Web sites, went public February 10, offering 3.5 million shares at $16 each. The company’s stock priced above its $12 to $14 filing range. The initial public offering, underwritten by Lehman Brothers, Hambrecht & Quist, Volpe Brown Whelan & Co. and Wit […]
DELRAY BEACH, Fla. Smith-Garner & Associates Inc., a developer of direct marketing and e-commerce software solutions, held an initial public offering January 29. The company offered 4.41 million shares at $12 apiece, above its $9 to $11 filing range. The IPO, underwritten by BT Alex. Brown and SoundView Technology Group, left 11.52 million shares outstanding. […]
SANTA CLARA, Calif. – Covad Communications Group Inc., a provider of high-speed digital communications services, went public January 21. The company offered 7.8 million shares at $18 apiece, well above its $12 to $15 filing range. The offering, underwritten by Bear, Stearns & Co. Inc., BT Alex. Brown, Donaldson, Lufkin & Jenrette and Goldman, Sachs […]
SAN FRANCISCO – A lawsuit against William Tai, filed by the Walden Group of Capital Funds, ended in February with a settlement between the two parties and a statement by Walden acknowledging that Mr. Tai had not committed any wrongdoings before his departure from the firm, said Rob Bunzel, Mr. Tai’s attorney. Neither party would […]
BOSTON – Pioneer Group Inc. (PGI), a manager of mutual funds and institutional investments, in late March is slated to sell its interest in the firm’s venture arm, Pioneer Capital Corp., to an undisclosed “reputable name” in the secondary market, said venture group General Partner Walter Dick. “The decision to sell the VC interests accommodates […]
SIMSBURY, Conn. – After having expanded its private equity strategy to include primary investing and direct co-investing, secondary investor Landmark Partners Inc. has held a close on its current private equity vehicle, said Stanley Alfeld, the chairman and managing general partner of the firm. Landmark’s eighth fund saw a final close in January on $500 […]
REDWOOD SHORES, Calif. – In many ways, Oracle Corp.’s newly launched $100 million venture fund looks a lot like its corporate brethren: The vehicle will make strategic investments in technology companies whose products or services are based on Oracle’s latest technology, a platform for Internet operations. The Oracle Venture Fund, however, differs from other corporate […]