KOLN, Germany – GENES Venture Services, Germany’s oldest venture management group, this year plans to launch Europe’s first fund dedicated to the space technology sector. The fund, Ignition SpaceVentures, aims to become world leader in the field of commercial space start-ups. Apart from telecommunications, the commercial potential of space technologies has to date been largely […]
GENEVA – Index Ventures I, a maiden vehicle launched in September, at press time expected a $62.5 million second close and hired NationsBank Montgomery Securities as a placement agent to guide fund raising to a final wrap in March. The latest close follows a $40.5 million first close in late November, said General Partner Neil […]
SAN FRANCISCO – Adauction.com in December closed its first venture capital round of financing, landing $7 million from a group of venture firms led by Convergence Partners of Menlo Park, Calif. The company also received equity commitments from Geneva Partners, b/z Partners, Band of Angels and Ben Rosen. Silicon Valley Bank provided a bank loan […]
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 […]