TORONTO – New Millennium Venture Partners Inc., a Canadian venture firm, in November was awaiting approval from the Ontario Securities Commission to raise the first Canadian vehicle to back early-stage e-commerce and Internet companies in the country. The venture firm expected the Commission’s approval on the labor-sponsored fund in December. New Millennium Internet Ventures Fund, […]
LONDON – As information delivery reorients to a digital infrastructure, how will content be valued? The partners at ProVen Private Equity Ltd. are bullish on content becoming king of the digital market. To that end, the London-based investment firm is raising as much as $250 million to invest in intellectual properties through Global Rights Fund […]
STOCKHOLM, Sweden – The Swedish Cooperative Union and Banc of America Equity Partners, along with six Swedish institutions, are forming Nordico Invest, a private equity fund. The vehicle held a first and final close in December on SEK 1 billion ($120 million) and acquired a portfolio of 15 companies from Cooperative Union, said Hkan Sderbck, […]
NORTHBROOK, Ill. – Four investment professionals who conducted direct private equity investing for the Allstate Insurance Co. have left to raise a $250 million targeted fund. The move leaves the insurance company without a private equity division. Principals of the new firm, Goense Bounds & Partners, include Managing Directors John Goense and Mark Bounds, as […]
NEW YORK – While the Christmas selling season was always an important time for the retail industry, analysts say 1999’s was expected to be a make-it-or-break-it event for Internet retailers – especially for those wanting to go public. With so many e-tailers having already secured late-stage financing, the stage has been set for a flood […]
NEW YORK/WALTHAM, Mass. – Late November brought the most recent sign that the Internet continues to blur the line between buyouts and venture capital, as well as force partners throughout private equity to reevaluate their career paths. These trends were brought to bear when early-stage company, SupplierMarket.com, sought financing from buyout firms rather than traditional […]
GAINESVILLE, Fla. – When entrepreneur Jim White talks about his company’s interest in bugs, he is not referring to software glitches or the infectious diseases pharmaceutical companies try to cure. White is talking about actual bugs. Ladybugs, to be precise. White’s company, Entomos L.L.C., sells ladybugs, formally known as pink spotted lady beetles, to nurseries […]
NEW YORK – Edison Schools Inc., a private operator of public schools, went public November 11, offering 6.8 million shares at $18 apiece. The company’s stock priced well below its $21 to $23 filing range. Merrill Lynch & Co., Banc of America Securities L.L.C., Credit Suisse First Boston, Donaldson, Lufkin & Jenrette Inc. and J.P. […]
NEW YORK – Deltathree.com Inc., an Internet telephony company, went public November 23, offering 6 million shares at $15 apiece. The company’s stock priced at the top of its $13 to $15 filing range. Lehman Brothers Holdings Inc., Merrill Lynch & Co., U.S. Bancorp Piper Jaffray, Lazard Freres & Co. L.L.C. and Fidelity Capital Markets […]
SAN MATEO, Calif. – Digital Impact Inc., an electronic mail marketing company, went public November 23, offering 4.5 million shares at $15 apiece. The company’s stock priced at the top of its $13 to $15 filing range. Credit Suisse First Boston, Hambrecht & Quist Group, Donaldson, Lufkin & Jenrette Inc. and U.S. Bancorp Piper Jaffray […]