KANSAS CITY, Kan. – Hoping to serve what he sees as an underserved regional market, entrepreneur Lance LeMay in February officially launched October Capital LLC, which will focus primarily on business-to-business e-commerce and technology companies in the Kansas City and St. Louis areas. “We’ve been seeing a lot more venture activity in the local marketplace […]
ANDOVER, Mass./MENLO PARK, Calif. – @Ventures, the venture capital arm of CMGI Inc., recently launched the $1 billion @Ventures Technology Fund to back early-stage Internet enabling technologies and infrastructure companies, said Lior Yahalomi, managing partner of the fund. While it is still unclear how many companies the fund will back, average initial investments will range […]
TORONTO – Looking to capitalize on discount broker TD Waterhouse’s Internet presence, TD Bank Financial Group in late January launched first time venture fund, TD iCapital to focus on online financial businesses that provide services, financial content or enabling technologies, said David Grossman, vice president of New York-based TD iCapital. TD Waterhouse and TD Capital, […]
BOSTON – Continuing the explosion of new incubators onto the venture scene, Softbank Corp. and Intercontinental Group of Boston have joined forces to launch I-Group HotBank NE. I-Group HotBank will focus on providing New England businesses with what managing director Ellen Roy described as mentor capital, a concept that provides selected companies with access to […]
NEW YORK – Arthur Andersen LLP became one of the latest professional services firm to join the venture capital fray, in January launching its first VC fund, the $500 million Arthur Andersen Ventures LLC. The vehicle will back business-to-business e-commerce, new media and Internet services companies worldwide, focusing on areas where Arthur Andersen already conducts […]
SACRAMENTO, Calif. – The California Public Employees’ Retirement System (CalPERS) in January carved out $500 million to invest in several new venture capital funds being launched by the investment bank Thomas Weisel Partners. “Thomas Weisel is focused on backing high-tech companies in California and elsewhere, and this signals our interests in helping high-tech Californian companies, […]
NEW YORK – Launched nearly two years ago, Morgan Stanley Capital Partners recently held a final close on $3.2 billion for its fourth private equity fund, Morgan Stanley Dean Witter Capital Partners IV LP, which ranks among the 10 biggest private equity funds ever raised. The firm also held a final close for Morgan Stanley […]
WALTHAM, Mass. – Responding to increased limited partner appetite for venture capital offerings, Advanced Technology Ventures recently closed its latest fund at $400 million. Advanced Technology Ventures VI more than doubles the $175 million Advanced Technology Ventures V, which closed in October 1998. “We had to carve back existing LPs; we have the philosophy that […]
NEW YORK – The founders of Atlantic Venture Partners in February joined forces with Draper Fisher Jurvetson to launch the $100 million-targeted Draper Fisher Jurvetson Gotham. The vehicle previously was launched by Atlantic Venture’s Managing Partners Daniel Schultz and Ross Goldstein (VCJ, November 1999, page 26), both of whom had launched their fund in May […]
SPOKANE, Wash. – Northwest Venture Associates in January held an initial $50 million close on its third fund, the $33 million-targeted Northwest Venture Partners III, said Jean Balek-Minor, a general partner at the firm. The firm recently applied to become a Small Business Investment Company (SBIC), which typically leverages two-to-one. Northwest, however, expects to receive […]