 |
 |
Random Ramblings I planned today to discuss a major strategic partnership/funding announcement for a well-known VC-backed company, but the formal press release seems to be caught up in PR limbo. Normally this wouldn’t be a problem, except that I’m only making an educated guess as to some of the release’s contents (some contents I know), so this will have to wait another day. Need a hint? The company publicized a new distribution agreement earlier this week. In the meantime: *** Most juicy political scandals contain at least peripheral ties to private equity, and the disgraceful case of Rep. Randy “Duke” Cunningham is no exception. For those who don’t know, Cunningham *** Speaking of private equity-related political scandals (or at least potential ones), the issue of *** Gene-IT, a provider of sequence search software for the life sciences industry, today announced that it has secured $4.1 million in Series A funding. Why does this deal get special mention while the other myriad of VC deals are stuck below in black (including much larger deals)? Because Gene-IT is based in *** Best line I heard yesterday came from a VC who’s firm is exploring an investment partnership in *** Lots of emails about my two-line quote about Google in BusinessWeek, particularly because of my IPO-related Google goof last year (I felt the VCs should sell some stock at the IPO price, because the value was sure to drop). "How can you be considered an expert on anything related to Google?" asks one beligerant emailer. One-word answer angry man: Forgiveness. *** Finally, a bit of news for you. I just stumbled across a regulatory filing showing that General Catalyst Partners has basically closed its fourth fund. The filing indicates an upper target of $375 million, with $365 million already committed. I spoke briefly to an investor there this morning, who directed me to an internal PR person. No word back yet on whether the final close has, indeed, occured.
Plastic Logic Ltd., a
Visicu Inc., a Baltimore, Md.-based provider of network monitoring of critical care patients in hospitals, has filed to raise $65 million via an IPO of common stock. It plans to trade on the Nasdaq under ticker symbol EICU, with Morgan Stanley serving as lead underwriter. It has raised over $20 million in VC funding since its 1998 inception, from firms like Abell Ventures, Cardinal Partners, Partech International, Pacific Venture Group, Sterling Venture Partners and Envest Ventures. www.visicu.com
Alimera Sciences Inc., an Alpharetta, Ga.-based ophthalmic pharmaceutical company, has raised $31.8 million in second-round funding. Venrock Associates led the deal, and was joined by return backers Intersouth Partners, Domain Associates, Polaris Venture Partners and BA Venture Partners. The company raised $26.75 million in Series A funding in the summer of 2004. www.alimerasciences.com Paragon Wireless Inc., a developer of VoWLAN solutions, has raised $7 million in Series B funding co-led by Austin Ventures and CID Group. The company currently has 40 employees based in
Gene-IT, a Worcester, Mass.-based provider of sequence search software for the life sciences industry, has raised $4.1 million in Series A funding. Cross-Atlantic Partners and Milestone Venture Partners co-led the deal, and were joined by seed backer Societe Generale Asset Management. www.gene-it.com Aegis Analytical Corp., a Lafayette, Colo.-based provider of software solutions for pharmaceutical and biotech manufacturers, has raised $3.5 million in new venture funding. Skyland Capital led the deal, and was joined by return backers Future Capital AG, Lafayette Equity Fund, Merck Capital Ventures, and 3i Group. The company has raised more than $25 million in total VC funding. www.aegiscorp.com Lentigen Corp., a Baltimore, Md.-based biotech company focused on lenti-viral vectors, has raised an undisclosed amount of seed and Series A funding from Greenwich Biotech Ventures. www.lentigen.com Integrated Materials Inc., a Sunnyvale, Calif.-based maker of pure poly silicon products for the semiconductor diffusion process, has raised $8.8 million in Series C funding. American River Ventures led the deal, and was joined by return backers Alloy Ventures, Labrador Ventures and Rocket Ventures. www.integratedmaterials.com
Chipidea Microelectronica SA, a Portugal-based analog and mixed-signal semiconductor solutions provider, has raised nearly 5 million euros from R Capital Technologies, a VC fund managed by Rothschild. www.chipidea.com
Advanced Biohealing Inc., a New York-based biomedical company commercializing products that accelerate wound healing, has raised $8 million in Series B funding co-led by Canaan Partners and Wheatley Partners. The company previously raised $2.4 million in angel funding in October 2004. www.advancedbiohealing.com Opalis Software Inc., a Toronto-based provider of enterprise software for data center automation, has raised US$8.5 million in Series C funding. Sierra Ventures led the deal, and was joined by BDC Venture Capital and VenGrowth Private Equity Partners. The company has raised $20 million in total VC funding since its 1998 inception. www.opalis.com Siren Systems Inc., a San Francisco-based developer of an online music search engine, has raised around $1.3 million in Series A funding, according to a regulatory filing. Backers include Amicus Capital. www.sirensystems.com Nominum Inc., a Redwood City, Calif.–based provider of IP address infrastructure solutions, has raised new VC funding from T-Com Venture Fund. Back in April, the company announced $16 million in new funding, bringing its overall venture capitalization to around $45 million. Backers include Advanced Technology Ventures, Bessemer Venture Partners, Morthenthaler Ventures, Globespan Capital Partners, Presidio Venture Partners and Silicon Valley Bank www.nominum.com Adnavance Technologies Inc., a Canadian nano-biotechnology company, has raised Cdn$3.85 million in Series A funding. Working Opportunity Fund led the deal, and was joined by BC Medical Innovations Fund, Business Development Bank of Vivonet Inc., a Vancouver, Canada-based provider of retail enterprise software solutions, has raised US$2.05 million in venture funding. Backers include British Columbia Discovery Fund and Greenstone Venture Partners. www.vivonet.com Yelp Inc., a San Francisco-based operator of a website for localized social networking and directory services, has raised $5 million in Series A funding led by Bessemer Venture Partners. www.yelp.com Airsis Inc., a San Diego-based provider of remote asset management software, has raised nearly $1 million of a $1.5 million Series A funding round, according to a regulatory filing. Backers include Scripps Ventures, Applied digital Security, Siraba Inc. and Seraphim Fund. www.airsis.com
Celtic Pharmaceutical Holdings LP, a private equity firm focused on the biotech and pharma markets, has completed its acquisition of exclusive worldwide rights to Xerecept from Neurobiological Technologies Inc. Xerecept is a Phase III clinical compounds for the treatment of peritumoral brain edema. The deal includes an immediate $20 million payment and an additional $13 million to be paid in installments through January 2007. www.celticpharma.com
Sterling Investment Partners has paid over $40 for a minority equity stake in GPX International Tire Corp., a provider of specialty tires that was created two months ago via the merger of Toronto-based Dynamic Tire Corp. and Boston-based Galaxy Tire & Wheel Inc. Company management will continue to own a majority position. www.sterlinglp.com
WHI Capital Partners has acquired Carpenter Special Products Corp., an El Cajon, Calif.–based manufacturer of precision engineered metal components and assemblies, from Carpenter Technology Group. No financial terms were disclosed, although one press report pegs the deal at $19.5 million.
Actions Semiconductor Inc., a China-based chip design company, priced nine million American depository shares at $8 per share, for an IPO take of approximately $72 million. It originally filed to price 13 million ADS at between $9.50 and $11.50 per share, but later reduced the offering to nine million ADS at between $8 and $9 per share. CSFB served as lead underwriter. Shareholders include Tetrad Ventures Ltd. and Rich Dragon Consultants Ltd., while press reports have suggested that the company is closing in on $80 million in Series A funding, largely from U.S.-based firms. Somaxon Pharmaceuticals Inc., a San Diego-based drug company focused on insomnia and other neuro-psychiatric disorders, has set its proposed IPO terms to five million common shares being offered at between $13 and $15 per share. It plans to trade on the Nasdaq under ticker symbol SOMX, with Morgan Stanley and JPMorgan serving as lead underwriters. The company has raised around $90 million in total VC funding, including a $65 million Series C funding this past summer. Significant shareholders include MPM Capital, Domain Associates, BA Venture Partners, Montreaux Equity Partners and Prospect Venture Partners. www.somaxon.com
NewRadio Group LLC and the radio assets of Waitt Media have completed their previously-announced merger, creating the nation’s seventh largest radio network. The merged company is named NRG Media LLC, is based in
Radware Ltd. (Nasdaq: RDWR) has agreed to acquire the assets of V-Secure Technologies Inc., a Roseland, N.J.–based provider of behavior-based network intrusion prevention solutions. The deal is valued at $15 million in cash, plus warrants to purchase 45,500 Radware shares at $22 per share. V-Secure has raised around $7.4 million in VC funding since its 2001 inception, including a $3.4 million infusion in 2003 at a post-money valuation of approximately $14.4 million. Backers include Delta Capital Management, Hyperion Partners and WestAM Private Equity. www.radware.com www.v-secure.com
Wellspring Capital Management of Rockpoint Group LLC has closed its third discretionary real estate fund with $1.7 billion in capital commitments. Marco De Benedetti has joined The Carlyle Group as head of the firm’s Italian buyout team. He will work out of Scott Skie has been named chief administrative officer of Baird Capital Partners and Baird Venture Partners. He previously served as CFO of LaSalle Capital Group. www.bairdprivateequity.com Roderick Sherwood has joined The Gores Group as chief financial officer of the Gores Operations Group. He previously served as senior vice president and CFO for Gateway Inc. www.gores.com
Quartilium, the fund-of-funds arm of Finama Private Equity in
|
Interested in placing
your ad above?
Learn How