PORTLAND, Ore. – Banking their hopes on the future success of the Silicon Forest, former consultants Michael Lubitz and Steve Brown are preparing to launch their first venture fund in the Pacific Northwest. Mr. Lubitz, most recently a venture consultant to information technology businesses, and Mr. Brown, a consultant to small- to medium-size manufacturing businesses […]
POPALO ALTO, Calif. – Feeling overly dependent on mezzanine funds and private placements to feed their expansion-stage portfolio companies, four venture firms have banded together to launch a $1 billion-targeted fund to support businesses in the six to 18 months leading up to their initial public offerings. Accel Partners, Brentwood Venture Capital, Oak Investment Partners […]
FARMINGTON HILLS, Mich. – Investment bank GMA Capital in early February held a $50 million first close on its inaugural domestic venture fund, InvestCare Partners, which plans to take advantage of the underserved Midwest health-care sector. The vehicle will make late-stage equity investments nationwide in small- and medium-size health-care services, infomedic and medical device companies […]
MENLO PARK, Calif. – Menlo Ventures plans to raise and wrap its eighth fund in the second quarter of this year. Menlo VIII will target $400 million and be capped at $500 million, said General Partner DuBose Montgomery, who added that most of the capital would likely come from existing limited partners. The new vehicle […]
LOS ANGELES – One-year-old Idealab Capital Partners L.P.(ICP) seems to be approaching the venture capital market as a sprint rather than a marathon. While many first-time funds breathe a mighty sigh of relief at a final close and get to the business of investing, the venture capital affiliate of the incubator idealab! plans to launch […]
CAMBRIDGE, Mass. – Research Corporation Technologies has committed $15 million to form a new venture development company, RCT BioVentures NE. The new firm will be based in Cambridge, Mass., and will scour research institutions, universities and entrepreneurs throughout New England for potential high-value discoveries. RCT BioVentures intends to draw attention to investment opportunities presented by […]
SAN FRANCISCO – GE Equity, the private equity subsidiary of GE Capital, in April plans to open an office in San Francisco to expand its presence as a direct investor in venture-stage technology and media companies. The new office has been given the mandate to invest approximately $162 million in non-control deals, representing about 25% […]
WASHINGTON, D.C. – The House of Representatives in February passed a bill authorizing a significant budget increase to the Small Business Investment Company (SBIC) program, signaling Congress’ support of government efforts to help the venture capital community. In a vote of 402 to 2, the House passed the Small Business Investment Company Technical Corrections Act […]
SUNNYVALE, Calif. – Frontier Communications, one of the nation’s largest long distance carriers, became one of the latest corporations to seize the burgeoning venture capital market for Internet investments when it formed Frontier Internet Ventures Inc. in late February. While Frontier Communications, a subsidiary of Rochester, N.Y.-based Frontier Corp., has been quite active on the […]
MADISON, Wis. – Signaling a possible shift toward more traditional early-stage venture capital investing, the Wisconsin State Investment Board at press time was readying a proposal to its board of trustees to create a $50 million health-care and biotechnology vehicle geared toward local deals. Wisconsin at press time had committed only to later-stage private equity […]