NEWARK, N.J. – Venture capitalists raked in an unprecedented sum last year, with preliminary fund-raising figures topping $38 billion at press time, according to Venture Economics Information Services, VCJ’s sister company. VEIS Managing Director Jesse Reyes projects that figure to be in the neighborhood of $42 billion to $43 billion once a final count is […]
SAN FRANCISCO – Would you believe that the first deal done by hot-shot technology buyout firm Silver Lake Partners LLC involves no technology risk? According to Glenn Hutchins, one of the firm’s founders, Silver Lake’s $75 million all-equity investment in Submitorder.com this past December is all about warehouse building, box handling, phone answering and inventory […]
CHICAGO – Stan Golder, recognized by friends and colleagues as one of the founders of the modern private equity industry, in early January died at age 70 from a recently discovered brain tumor. Golder built the private equity program at First Chicago Corp. in the 1970s, where he backed Federal Express before forming what eventually […]
NEW YORK – Providence Equity Partners has decided to focus more attention on smaller deals. The telecommunications specialist last month held a first and final close on a $250 million fund that will target deals deemed too small for its main fund, which rounded up $940 million in January 1998. Providence Growth Investors LP will […]
MARINA DEL REY, Calif. – Web Capital Group Inc.’s Internet incubator 3wVentures.com in December launched a $100 million-targeted venture fund, the firm’s first foray into venture investing. 3wVentures will invest about $2 million into some 50 individual Internet and e-commerce-related companies at its SiliconLosAngeles.com facility in Los Angeles, slated to open in February, said Garrett […]
NEW YORK – Cassandra Chase Entertainment Partners, the private equity fund formed in 1998 by Chase Capital Partners and The Cassandra Group, has been renamed Chase Capital Entertainment Partners – because The Cassandra Group no longer will be associated with the fund. A source close to the developments confirmed that Chase Capital has cut its […]
SAN BRUNO, Calif. – Given the almost surreal success of Redhat Inc. and VA Linux Systems Inc. in the public markets, venture firms appear ready to allocate more capital to Linux developers in the coming months. Internet Incubator M&A West Inc., traded on the over-the-counter bulletin board, recently launched a venture capital fund, targeted between […]
BOULDER, Colo. – Pete Estler, founder of MatchLogic.com, describes his new venture capital firm as “an incubator on steroids.” iBelay.com celebrated its $50 million first close Dec. 3 with investments in two early-stage Internet companies, netLibrary Inc. and Epidemic Marketing Inc. Excite@Home, which acquired MatchLogic Inc. in 1998 for $90 million, invested in iBelay.com, as […]
SEATTLE – Madrona Investment Group’s first fund, Madrona Venture Partners, in December reached a second and final close on its $250 million cap. The vehicle, which will back early-stage information technology and communications companies, had targeted $150 million to $200 million (VCJ, December 1999, page 19). A first close in October brought in more than […]
SEATTLE/PORTLAND, Ore. – Olympic Venture Partners (OVP) at press time was preparing a January launch for its $100 million-targeted Olympic Ventures V. The vehicle, like previous OVP funds, primarily will back early-stage Internet-related companies, including communications and a select group of health-care businesses, said General Partner Gerry Langeler. Olympic believes there will be a resurgence […]