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. […]
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 […]