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CoreValve, a Paris, France-based maker of a delivery system for percutaneous heart valave replacement, has raised $24 million in Series B funding. Apax Partners led the deal, and was joined by HealthCap. The company now has raised a total of $30 million, including a $6 million first-round infusion that included individual angels and Sofinnova Partners. www.corevalve.com AIG Highstar Capital, a private equity unit of American International Group Inc., has agreed to sell the Southern Star natural gas pipeline system to General Electric Co. and Caisse de depot et placement du Quebec for $362 million. The deal also would include the assumption of approximately $476 million in d*bt and preferred stock, with GE holding a 60% ownership stake and Caisse holding the remaining 40 percent. AIG Highstar acquired Southern Star in 2002 from The Williams Cos., and GE's Energy Financial Services acquired 2 percent of the company’s equity of in 2003.
The Founders Fund has been launched with $50 million in initial limited partner commitments. The San Francisco-based firm will focus on emerging companies in the consumer Internet space, and currently has two partners: Peter Thiel, co-founder and former CEO of PayPal, and fellow PayPal co-founder Ken Howery. Luke Nosek, another PayPal co-founder, serves as a venture partner. www.thefoundersfund.com
Digital Map Products Inc., a MetaLincs Corp., a Mountain View, Calif.–based provider of electronic discovery software, has raised $8.75 million in Series A funding. Participants included ArrowPath Venture Partners, Newbury Ventures and Rembrandt Venture Partners. www.metalincs.com MobileAccess Networks Inc., a Zipcar Inc., a Cambridge, Mass.-based car-sharing service, has raised $10 million in its first institutional round of funding. Benchmark Capital led the deal. www.zipcar.com Pepscan Systems BV, a Dutch drug discovery and development company, has raised 5 million euros in first-round funding. PPM Oost led the deal, and was joined by Lupus Ventures, Wageningen Business Generator and Technofund Flevoland. www.pepscan.com Minth Group Ltd., a China-based automotive parts manufacturer, has received a $27 million private equity funding commitment from Baring Private Equity Asia Ltd. www.bpepasia.com Posit Science Corp., a San Francisco-based neurology company, has raised around $14.52 million in Series B funding (including conversion of promissory notes), according to a regulatory filing. Return backers include Aberdare Ventures, Draper Fisher Jurvetson and VSP Capital. www.positscience.com SnapIn Software Inc., a Bellevue, Wash.-based provider of mobile phone software has raised $3 million in Series B funding, according to a regulatory filing. Backers include Seapoint Ventures, Frazier Technology Ventures, Oak In*stment Partners and Hunt Ventures. www.snapin.net LGC Wireless, a San Jose, Calif.-based provider of in-building wireless networking solutions, has raised $11 million in mezzanine funding round led by Rembrandt Venture Partners. The company has raised $91 million in total private funding since its 1996 inception. www.lgcwireless.com ECI Biotech, a Worcester, Mass.-based maker of sensors for consumer and medical products, is preparing to close on $2.5 million in new VC funding, according to The Boston Globe. www.ecibiotech.com
Allied Capital Corp. has acquired Norwesco Inc. from Norwest Equity Partners and Brockway Moran & Partners for $160 million. Norwesco is a St. Bonifacius, Minn.–based manufacturer of plastic agricultural and septic tanks, and became a portfolio company of Norwest and Brockway Moran in October 1998. www.norwesco.com The Neiman Marcus Group Inc. (NYSE: NMG.A, NMG.B) will hold a special shareholders meeting on August 16 at 8am EST, in order to vote on the proposed $5.1 billion company acquisition by Texas Pacific Group and Warburg Pincus. www.neimanmarcusgroup.com Circle Graphics, a Longmont, Colo.-based large-format digital printing company specializing in billboards, has received an undisclosed amount of private equity funding from TA Associates. www.circlegraphicsonline.com ABN AMRO Capital has acquired Dutch holiday parks operator Roompot from Bencis Capital Partners for an undisclosed amount. Company management will retain a minority shareholding position. Bencis has originally acquired Roompot in March 2003. www.roompot.nl Kohlberg Kravis Roberts & Co. and Silver Lake Partners are the leading bidders for Agilent Technology Inc.’s (NYSE: A) semiconductor products business, according to The Wall Street Journal. The auction is expected to fetch up to $2.5 billion, with other bidding consortiums including Bain Capital/Warburg Pincus and Texas Pacific Group/CVC Partners/Francisco Partners.
Accentia BioPharmaceuticals Inc., a Tampa, Fla.-based drug company focused on respiratory disease and oncology, has reduced its proposed IPO price range from $11-$13 per share to $8-$10 per share. It still plans to offer 6.25 million common shares, with Jefferies & Co. serving as lead underwriter. Significant shareholders include The Hopkins Capital Group, McKesson Corp. and Pharmaceutical Product Development Inc. www.accentia.net Maidenform Brands Inc., a Bayonne, N.J.-based intimate apparel maker, has set its proposed IPO terms to 10 million common shares to be offered at between $14 and $16 per share. It plans to trade on the NYSE under ticker symbol MFB, with USB Inv*stment Bank and Credit Suisse First Boston serving as lead underwriters. Ares Management holds a majority position in Maidenform, due to a May 2004 buyout from Oaktree Capital Management, which still maintains a minority position. AIG also is listed as a minority shareholder www.maidenform.com
Primus Pacific Partners is planning to raise $1 billion for an inaugural fund that will inv*st in Asian financial services companies, according to Reuters. The firm is being run by David Olsen, former CEO of Guggenheim Merchant Banking and onetime chairman of Asia-Pacific banking for CSFB. Other managing directors include Guocang Huan, former head of Asia-Pacific banking for HSBC, and Wing-Fai Ng, former head of strategy for Fubon Financial. Shuaa Partners, the private equity arm of Dubai-based I-bank Shuaa Capital, has held a $160 million first close on its inaugural leveraged buyout fund. A final close on $200 million in expected to occur within the next several months.
Macquarie Funds Management has hired three alternative asset pros who previously worked with Pacific Corporate Group: Peter Martenson, division director; Eric Becker, associate director; and Rick Fratus, associate director. They will be based near Mezzanine Management, a UK-based mezzanine and private equity provider, has promoted Valerie Lebreton to the position of managing director. It also has hired former BancBoston Capital pro Christian Heidl as an inv*stment director. The firm plans to recruit additional individuals as it focuses on more self-sponsored transactions. www.mezzanine-management.com Neil Cox has joined MK Capital has a venture partner. He previously served as an executive vice president of Science Applications International Corp. (SAIC), responsible for next-generation technologies and networks for both wired and wireless businesses. www.mkcapital.com Cooley Godward announced that it will open an office in Scott Plumridge has joined private equity firm The Halifax Group as a Washington, D.C.-based vice president. He previously founded an educational publishing business and, before that, served as an associate with Chartwell Inv*stments. www.thehalifaxgroup.com
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July 11, 2005 
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