AUSTIN, Texas – QuestLink Technology Inc., a company that allows engineers to purchase various prototype materials online, in November secured $3 million in venture financing. Needham Capital Partners, the venture arm of a semiconductor-focused investment banking boutique, brought $2 million to the table as a first-time investor. Trellis Partners, QuestLink’s first institutional backer, returned with […]
EDINBURGH, Scotland – European Strategic Partners (ESP), the $1 billion targeted fund-of-funds that is the first fruit of a joint venture between Standard Life and Hamilton Lane Advisors, aims to provide a broad constituency of international investors with exposure to a diversified portfolio of premier European private equity vehicles and direct investments. In Europe, as […]
SANTA CLARA, Calif. – Chip maker Intel Corp. plans to extend its corporate venture-capital reach overseas this year. Intel has backed 200 mostly United States-based companies with about $1.5 billion through its “corporate business development program,” which seeks strategic and financial rewards, a spokesperson said. The company will spend 1999 hiring investment staff to focus […]
SANTA CLARA, Calif. – After a brief stint as a general partner at New York-based Venrock Associates, Mark Bailey returned to Silicon Valley this summer to lead Healtheon Corp.’s business development program. Mr. Bailey, who has shifted back and forth between the venture capital and corporate worlds throughout his 13-year private-equity career, will lead Healtheon’s […]
CHICAGO – Asset manager Forstmann-Leff International, Inc. was in search of a new client when it knocked on the door of Hughes Electronics’ pension management group. Instead, the firm ended up with a new director. Celia Chapman was slated to join Forstmann-Leff in December after 17 years at Southern California’s Hughes Investment Management Co. Ms. […]
NEW YORK – Responding to the growing appetite of private equity buyers for later-stage private and public companies, Bear, Stearns & Co. hired Peter Buckley and David Goddard as senior managing directors and co-heads of the newly formed private equity group. “This is a model that a number of larger firms have seen is essential […]
MENLO PARK, Calif. – Benchmark Capital in late October added former Federal Communications Commission (FCC) Chair Reed Hundt as a venture partner. Mr. Hundt, who will be based in suburban Washington, D.C., will work for the firm on a part-time basis helping evaluate deals and taking board seats, said General Partner Andy Rachleff. Mr. Hundt […]
TEL AVIV, Israel – GE Capital’s Equity Capital Group (ECG) in October appointed director Sam Cubac to head the group’s new office in Tel Aviv. ECG made its first foray into the Israeli market in 1997 with a $20 million joint venture with the ABS GE Capital Giza Fund, a high-technology vehicle founded in partnership […]
LONDON – Phildrew Ventures expected a first closing on its fifth and largest fund in late 1998. With a target of GBP300 million ($495 million), the Phildrew Ventures Fifth Fund is nearly double the size of its predecessor, which raised GBP164 million ($271 million) in 1995. Phildrew, however, will need to raise only GBP150 million […]
WIESBADEN, Germany – The German state of Hesse in November teamed with Hoechst AG to launch a DM125 million ($74.4 million) venture capital fund focused on life sciences and chemistry and at press time was still in search of fund managers. Future Capital AG, scheduled to begin operations at the beginning of this year, is […]