MENLO PARK, Calif. – New Enterprise Associates (NEA) has hired Nobel-prize winning astrophysicist and technology businessman Arno Penzias as a part-time venture partner who will work from his home in San Francisco scouting communications companies and evaluating deals. Dr. Penzias, who worked informally for NEA throughout 1998 to become acquainted with the firm’s portfolio companies […]
SAN FRANCISCO – H&Q Asia Pacific is raising a $750 million private equity fund mostly geared toward buying controlling positions in companies, with the remainder to be focused on more conventional venture capital investments in the region. H&Q Asia Pacific Growth Fund III, L.P. initially will invest in the depressed economies of Thailand and South […]
ANTWERP, Belgium – GIMV, the Flanders-based investment group announced in October a ecu 100 million ($118.1 million) raft of commitments to international funds, signaling the group’s intention to significantly expand beyond its domestic market. Three of the fund investments – Sofinnova Capital III, Galileo II and REL-Club Deal – involve France-focused funds. GIMV will also […]
WESTWOOD, Mass. – Prism Venture Partners II, an early-stage health care and information technology investor, in late December completed a $66 million first close, moving closer to a targeted $125 million final wrap in the first quarter. The initial close, the bulk of which was rounded up by the end of October, included new limited […]
ANDOVER, Mass. – @Ventures III, the latest venture fund affiliated with CMGI Inc., held a final close in December, landing $272 million. While it is the company’s third VC effort, this is the first time outside investors were permitted to participate. Limited partners that ponied up at least the $2 million minimum included Microsoft Corp., […]
NEW YORK – Bear Stearns Asset Management held a Christmas Eve final close on $101 million for Constellation Ventures, its first venture capital effort. The fund, which was formed in 1997 and held a first close in March of last year, makes mid- to late-stage investments in new media and communications companies whose products interface […]
MENLO PARK, Calif. – Benchmark Capital was extremely tight-lipped about the first investment made from Benchmark Capital Partners III, L.P., a $125 million vehicle that held a final close in mid-November. General Partner Bruce Dunlevie would only reveal that the deal, finalized in December, involved a telecommunications company. The latest fund closely resembles Benchmark Capital […]
BRANFORD, Conn. – Scheer & Co. Inc., a financial advising firm that helps large pharmaceutical companies spin off or license medical technologies, is raising its first venture fund targeted at $50 million. The fund, likely to be called Scheer Venture Partners, will back new companies resulting from such divestitures, said David Scheer, who founded the […]
PROVIDENCE, R.I. – Providence Equity Partners in December capped a short fund raising by holding a first and final close that garnered $940 million for the firm’s third fund, said Jonathan Nelson, president of Providence. The Providence, R.I.-based firm kicked off fund raising in early August for Providence Equity Partners III, L.P., seeking a target […]
MENLO PARK, Calif. – Eric Chin joined Information Technology Ventures in January as a principal who will focus on the Internet, e-commerce and software. Mr. Chin will work with the firm’s three general partners, Mark Dubovoy, Sam Lee and Virginia Turezyn. The firm, which had been searching for a principal for some time, also intends […]