NEW YORK – Newly formed Odeon Capital Partners added a limited partner and closed three more deals in late July and early August, bringing its portfolio to 11 companies.
The firm welcomed BancBoston as another investor, and its $5 million commitment in mid-July brought the vehicle’s total to $115 million. Other limiteds include Wolfson Organization, USWeb/CKS and Merrill Lynch (VCJ, August, page 24).
Odeon has completed two deals in Palo Alto, Calif., a $350,000 commitment to financial information Web site ShockMarket and a $1 million investment in educational software developer BullWhip. They were followed by a $750,000 investment in New York-based Media Market Maker, an on-line advertising business. A strategic investor may bump the round to $2 million.
The firm primarily will focus on Silicon Alley technology deals, but also will see a good share of deal flow from Silicon Valley and Israel. Odeon has offices in New York and Cupertino, Calif.