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 […]
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 […]
BOSTON – Gene Hill, who recently departed Accel Partners as its remaining health-care specialist, is slated to become a partner at Schroder Ventures. Mr. Hill, who starts his new job April 1, will help manage Schroder Ventures International Life Sciences Fund II, a $200 million-targeted vehicle that was approaching a wrap at press time (VCJ, […]
SAN FRANCISCO – Joining the growing ranks of venture capitalists adding new partners with operating experience, Weiss, Peck & Greer Venture Partners in mid-February toasted the arrival of new Venture Partner Skip Glass, a veteran executive of start-up and entrepreneurial companies. Mr. Glass will help the information technology and health care-focused Weiss, Peck & Greer […]
WEST CONSHOHOCKEN, Pa. – Peter Sears, a co-founder of SmithKline Beecham’s venture subsidiary, S.R. One Ltd., will retire in late May as the firm’s president. Mr. Sears, a 36-year veteran of the company, will end his day-to-day involvement with S.R. One but will continue to represent the firm on the board of four of its […]
PORTLAND, Ore. – Entrepreneur and venture consultant Bill Kallman and venture capitalist Jeffrey Tung are marketing an inaugural fund from their newly formed Timberline Ventures L.L.C., a venture firm focused on the Pacific Northwest. Timberline Venture Partners L.P. is targeting $60 million and likely will be capped at $75 million, Mr. Tung said. The new […]
SIMSBURY, Conn. – Continuing its evolution from secondary investor to full-service private equity shop, Landmark Partners Inc. in early March announced the appointment of a new managing partner to lead the firm’s foray into direct investment. Francisco Borges, the former treasurer of Connecticut and most recently a managing director at Financial Guaranty Insurance Co., will […]
WOODSIDE/IRVINE, Calif. – Crosspoint Venture Partners was slated to launch its sixth fund in late March and hoped for a first and final close on $150 million in April, said Managing Partner John Mumford. Crosspoint Venture Partners 1999 L.P., a follow-up to 1997’s $140 million fund, will target $150 million. The previous vehicle is fully […]
CHICAGO – Continental Illinois Venture Corp. was reincarnated in January as CIVC Partners, and the firm has a fresh $500 million commitment from affiliate Bank of America to make private equity investments. The firm’s prior arrangement with Bank of America was to receive annual allocations of as much as $100 million from the bank. From […]
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. […]