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?=09VentureWire =09Monday, May 21, 2001=09=09? ?=09CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND=09VentureW= ire Index =09=09'VentureWire =09=09today: 713.9 ? +0.55%=09? ? =09=09 =09=09 =09=09top stories =09=09 =09=09 =01=07 Beenz.com Cuts Staff Down To 30, CEO and President Step Down =09=09 =01=07 EON Broadband Firm Gets $381M Debt & Equity in Round One =09=09 =01=07 Telecom Provider Onsite Access Files For Chapter 11 =09=09 =01=07 InnovationsKapital Closes Fund 3 at $116 Million =09=09 =09=09 UPCOMING EVENTS =09=09 Mobile Outlook 2001 =09=09Just announced! Scott Fox, GSM Association, announced as keynote spea= ker.=20 Register to hear what he has to say!=20 =09=09 =09=09TODAY'S FEATURES=20 =09=09All Bases Covered On An Aquisition Streak=20 =09=09By Taran Provost =09=09After making two acquisitions in one week, All Bases Covered (ABC), a= n IT=20 consulting and outsourcing services company, said it will make more deals.= =20 more<< =09=09 =09=09 =09=09Entrepreneurs and VC-backed company CEOs: =09=09* Where can you obtain FREE detailed information on the =09=09latest quarter'sventure funding by region, industry, =09=09round and stage of development? =09=09* Where are there FREE tools and templates for writing a =09=09business plan and securing venture funding? =09=09* And if you're a young tech company CEO, where can you =09=09hear other CEOs discuss the issues of the day? =09=09VISIT PricewaterhouseCooper's Entrepreneur Resource Center =09=09for this and more --<http://www.pwcerc.com =09=09 =09=09 =09=09 =09=09Flatiron Shacks Up with Morgan; Major News at Carlyle =20 =09=09By Daniel Boylan =09=09VC WORLD BATTERED BY GRIM NEWS With America's markets continuing to = wobble=20 in the background, reports of distress surfaced across the private equity= =20 world last week. more<< =09=09 =09=09FastVentures Going After More Capital =09=09By Jonathan Shieber =09=09FastVentures, the Budapest-based investment company looking to contin= ue the=20 active investment pace it set for itself over its first year, is raising=20 additional capital for new investments, according to FastVentures co-founde= r=20 and managing director, Peter Fodor. Founded in June 2000, the publicly=20 traded venture capital firm is closing a second funding from undisclosed=20 individual and institutional investors. more<< =09=09 =09=09CGtime Raises $7 Million, Seeking Customers =09=09By Matthew Sheahan =09=09CGtime, a software development company that develops software engines= for=20 marketing services, plans to announce today that it has raised a $7 million= =20 Series A round. more<< =09=09 =09=09SafeKey Seeking Seed Funding =09=09By Suzanne Segers Travers =09=09The challenges presented by online credit card fraud continue to lure= new=20 entrants to the mini-sector of Internet payment security. more<< =09=09 =09=09 =09=09 =09=09 =09=09new money =09=09 =09=09 =01=07 Translation Company Link Up Mitaka Gets $7.2M Round One=20 =09=09=01=07 Personal Communications Portal aTelo Raises $5M Series B =09=09 =01=07 Elan Invests in Biopharmaceutical Firm Milkhaus Laboratory =09=09 =01=07 Opinion Portal Dooyoo Lands $8.8M Third Round=20 =09=09=01=07 Mindsense Biosystems Gets $2M from Future Capital =09=09 =01=07 Rivio Connects with $12 Million in Fourth Round=20 =09=09=01=07 Circles Lands $10 Million in Series D, Adds Lead to Board =09=09 =01=07 Temasek Capital Launches Incubator InCube =09=09 =09=09 =09=09new products =09=09 =09=09 =01=07 Medschool.com Changes Name to Medsn =09=09 =09=09 =09=09m&a =09=09 =09=09 =01=07 Platinum Equity Merges Tesseract, Infocus Employee Services =09=09 =01=07 DataMirror Acquires Technology, Assets of Bankrupt saipx =09=09 =09=09 =09=09new directors =09=09 =09=09 =01=07 Music Buddha Adds to Board =09=09 =01=07 Ticketing Service Justarrive Adds Jack Kemp to Board =09=09 =09=09 =09=09new people =09=09 =09=09 =01=07 Wellogix Names President to CEO, Appoints New Chairman =09=09 =01=07 EXP Systems Names New CEO =09=09 =09=09 =09=09vc fund news =09=09 =09=09 =01=07 Eagle One Launches to Invest with Newbury in Canada =09=09 =01=07 $15 Million Ventureast TeNet Fund To Fund Chennai's ITT =09=09 =09=09 TOP STORIES... NEW MONEY... NEW PRODUCTS... M&A... NEW DIRECTORS... = NEW=20 PEOPLE... VC FUND NEWS =09=09 =09=09 =09=09top =09=09 =09=09 =09=09One More Hot Development-Mobile Outlook, June 5 & 6, =09=09San Francisco Airport Marriott =09=09 =09=09Exciting, new presentation just added to the Mobile Outlook =09=09agenda. Anthony Alles, formerly of Shasta Networks =09=09(acquired by Nortel Networks for $340 million) is now back =09=09with a new venture called Tahoe Networks. Mobile Outlook will =09=09be the first time he publicly showcases their strategy for =09=09merging the worlds of data and mobility. =09=09 =09=09This is just one example of the up 70 privately held =09=09companies to be showcased at Mobile Outlook. Don't miss out =09=09on the next big opportunity! Mobile Outlook is less than 3 =09=09weeks away, so register:http://www.mobile2001.net/register.asp =09=09 =09=09 =09=09 =09=09 top stories=20 =09=09? =09=09Beenz.com Cuts Staff Down To 30, CEO and President Step Down =09=09 mail? top =09=09 =09=09 LONDON (VENTUREWIRE) -- Beenz.com, which developed an online currenc= y, said=20 it has cut its staff down to 30 from a high of 265 employees last year and= =20 closed offices in Japan, Hong Kong, Korea, and Italy as part of a "cost=20 rationalization," restructuring process. A company spokesperson said a core= =20 group will remain in the London and New York offices as the company looks f= or=20 a buyer or strategic alliance. Charles L. Cohen (CEO, CTO, and founder) and= =20 Donald M. Maguire (president and COO) have both stepped down in an effort t= o=20 cut costs. CFO and director Stephen Limpe will now also assume the roles of= =20 president and CEO. Over the past several months the company had begun aski= ng=20 employees in its U.K. office to volunteer to leave the company. In December= =20 it laid off 28 people in its San Francisco and New York offices. At that ti= me=20 the company began marketing its new "Beenzcodes", which provide online=20 incentives in traditional product packaging. The company spokesperson said= =20 the beenzcodes product is cur! rently available in the UK, although there a= re=20 no customers yet. He said the company will not seek another round of fundin= g.=20 Beenz has raised $80 million to date. Beenz.com's investors include Apax= =20 Partners, Artemis Ventures, BayStar Capital, DRW Venture Partners, the=20 Gefinor Group, Hikari Tsushin Capital, ING Barings, Kataweb, New World=20 Cyberbase, Oracle Japan, Patricof & Co. Ventures, Softbank e-Commerce,=20 Sycamore Venture Capital, and Viventures Partners. =09=09http://www.beenz.com =09=09 =09=09 =09=09EON Broadband Firm Gets $381M Debt & Equity in Round One =09=09 mail? top =09=09 =09=09 OXON, U.K. (VENTUREWIRE) -- EON Communications, a newly formed broad= band=20 communications company, announced closing a GBP 265 million ($381 million)= =20 first round of debt and equity financing. EON received a total of $158=20 million in equity financing. The round was co-led by Madison Dearborn=20 Partners with $82 million and TD Capital Communications Partners with $43= =20 million. Other investors included Incepta Partners with $18.7 million and G= E=20 Capital Telecom with $14.4 million. TD Securities and the Bank of Scotland= =20 arranged syndicated debt financing of $223 million. Madison Dearborn and TD= =20 Capital are both represented on EON's 11-member board of directors. EON=20 currently employs an eight-member management team and plans to employ 240 b= y=20 the end of 2002. The company said the financing will be used to lay its cab= le=20 network in Southwest Scotland and Northwest England and commercially launch= =20 its services within six months. EON intends to provide digital interactive= =20 television, fixed line voice telephony, Inte! rnet access, and high-speed= =20 data services to 325,000 residential customers and 25,000 business customer= s.=20 The company also said it expects to reach cash flow positive in the beginni= ng=20 of 2003. EON also said it was financially advised by Carol O'Connor of CEA= =20 International in London and received legal counsel from Ted Mercer of Taylo= r=20 Johnson & Garrett in London. Telephone 44-186-548-7120 =09=09 =09=09 =09=09Telecom Provider Onsite Access Files For Chapter 11 =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- OnSite Access, an integrated communication= s=20 provider that serves small- and medium-sized business customers within=20 multi-tenant commercial office buildings, said it filed for Chapter 11=20 bankruptcy. A company spokesperson said the company filed in an effort to= =20 reorganize the company. "We are entertaining serious interest from several= =20 third parties," said the spokesperson, "and taking proposals for Onsite's= =20 assets and business and maybe customer base." The company announced last we= ek=20 it laid off 158 employees from its 240 member staff, attributed to a lack o= f=20 available capital rather than problems with the company's business model.Th= e=20 spokesperson said the company will continue offering its services to its=20 current customers' services and has not made any additional layoffs. An=20 OnSite spokesperson said the bankruptcy and layoffs did not affect the=20 company's Canadian unit, OnSite Access Canada Holdings, a joint venture wit= h=20 Oxford Properties. OnSite Access' b! ackers include AT&T Ventures, Crosspoi= nt=20 Venture Partners, Frontline Capital Group, J.P. Morgan Capital, Microsoft,= =20 Spectrum Equity Investors.=20 =09=09http://www.onsiteaccess.com =09=09 =09=09 =09=09InnovationsKapital Closes Fund 3 at $116 Million =09=09 mail? top =09=09 =09=09 STOCKHOLM (VENTUREWIRE) -- Swedish venture capital firm InnovationsK= apital=20 said it closed new fund InnKap 3 at EUR 132 million ($116 million), exceedi= ng=20 the original target of $105.6 million. Previous limited partners in=20 InnovationsKapital, including Bure Equity, European Investment Fund, Merita= ,=20 and SEB, subscribed to more than half of the fund. Bure Equity provided 22%= =20 of InnKap 3. New limited partners, the majority of which are international= =20 fund managers, include Oxford University, Chalmers University of Technology= ,=20 Exteorel, and New Wave Funds. The firm began fundraising in late October=20 2000, and had a first close of about $105.6 million in April 2001. Over a= =20 period of three years, InnKap 3 will invest approximately EUR 5 million in= =20 roughly 25 early-stage companies in information and communication technolog= y,=20 healthcare, and life sciences. The fund will seek to lead Series A rounds o= r=20 to co-invest with other international venture capital firms. InnKap 3 will= =20 also make follow-on investments. Terms! of the fund are the same as for the= =20 previous two InnKap funds: 20% carry and 2.5% management fee. Six investmen= t=20 professionals currently manage the fund and the firm expects to add a=20 seventh. InnKap 1 raised $17.6 million in 1997, and InnKap2 raised $30.8=20 million in 1999. Neither fund continues to invest in new companies, but bot= h=20 maintain reserves for follow-on financing. InnKap 1 invested in 17 companie= s,=20 seven of which have exited. InnKap 2 has a portfolio of 12 companies, some = of=20 which are near cash flow positive. InnovationsKapital has over $166 million= =20 under management. =09=09http://www.innkap.se =09=09 =09=09 =09=09 new money=20 =09=09? =09=09Translation Company Link Up Mitaka Gets $7.2M Round One=20 =09=09mail? top =09=09 =09=09 LEEDS, U.K. (VENTUREWIRE) -- Aberdeen Murray Johnstone Private Equit= y said=20 it invested GBP 5 million (USD $7.2 million) in the first round of funding= =20 for Link Up Mitaka, which operates a language translation Web site and=20 software company. Link Up will use the funding to expand its translation=20 services for software and Web sites for multi-national companies. Link Up= =20 Mitaka also operates the translation Web site, TheBigWord.com. Link Up was= =20 established in 1980 by its managing director Larry Gould, initially for the= =20 corporate clients of Link Up Recruitment, a temp agency Mr. Gould sold in= =20 1996. In 1999 Link Up acquired Mitaka to expand the company's language=20 translation capabilities in the Far East. =20 =09=09http://www.thebigword.com =09=09 =09=09 =09=09Personal Communications Portal aTelo Raises $5M Series B =09=09 mail? top =09=09 =09=09 ARLINGTON, Va. (VENTUREWIRE) -- aTelo, an enhanced communications se= rvice=20 platform vendor, said it raised $5 million in a Series B financing led by= =20 Lazard Technology Partners, with participation from Schoffstall Ventures an= d=20 previous investor Draper Atlantic Management. The company will use the fund= s=20 for international sales and marketing, as well as for the expansion of its= =20 services platform and the development of new applications. In April 2000,= =20 aTelo raised $2 million in its first round of funding from Draper Atlantic= =20 Management. =09=09http://www.ateloinc.com =09=09 =09=09 =09=09Elan Invests in Biopharmaceutical Firm Milkhaus Laboratory =09=09 mail? top =09=09 =09=09 PROVIDENCE, R.I. (VENTUREWIRE) -- Milkhaus Laboratory, a private cli= nical=20 stage biopharmaceutical company, said Elan, a pharmaceutical company, has= =20 made an undisclosed equity investment in the company. The two companies=20 formed a partnership in January of 1999, which allowed Milkhaus to license= =20 its broad patent estate on the use of beta amyloid to treat central nervous= =20 system disorders to Elan. The company would not say how much funding it has= =20 raised to date, but said that it has also secured financing from Aurum=20 Venture Fund.=20 =09=09http://www.milkhaus.com =09=09 =09=09 =09=09Opinion Portal Dooyoo Lands $8.8M Third Round=20 =09=09mail? top =09=09 =09=09 BERLIN (VENTUREWIRE) -- Dooyoo, a pan-European opinion portal for co= nsumers=20 to post product and service reviews, said it closed a EUR 10 million ($8.8= =20 million) third round from new investors CNET Networks and Syntek Capital, a= nd=20 previous investors 3i and Earlybird Venture Capital. The company said the= =20 funding would be used for product development and to expand its market=20 research services. Dooyoo said it expects to be profitable in the fourth=20 quarter of this year. The company also said its post-money valuation was=20 calculated as five times the company's projected revenues for 2001. With=20 revenues expected to be between $7 million and $8.8 million, the valuation = is=20 between $35 million and $44 million. To date, the company raised $29 millio= n=20 in three rounds. =09=09http://www.dooyoo.de =09=09 =09=09 =09=09Mindsense Biosystems Gets $2M from Future Capital =09=09 mail? top =09=09 =09=09 REHOVOT, Israel (VENTUREWIRE) -- Mindsense Biosystems, which develop= s blood=20 tests to diagnose mental disorders using proteomics and functional genomics= =20 technology, announced it has secured a $2 million investment from new=20 investor Future Capital (a German life sciences fund) as part of a $12=20 million Series C round. Investment bank Mesiro Financial is managing the=20 round. Rainer Henning of Future Capital will join the board of directors.= =20 Mindsense has raised a total of $7.5 million from Biomedical Investments,= =20 Comsor Investment Fund, Mazam Capital Funds Management, and Shamrock Holdin= gs=20 of California.=20 =09=09http://www.mindsense.com =09=09 =09=09 =09=09Rivio Connects with $12 Million in Fourth Round=20 =09=09mail? top =09=09 =09=09 SANTA CLARA, Calif. (VENTUREWIRE) -- Rivio, which provides an onlin= e=20 platform for small businesses, said it closed its fourth round at $12 milli= on=20 from previous investors Accenture Technology Ventures, Bank of America,=20 Opportunity Capital Partners, and Softbank Venture Capital. The company sai= d=20 the new funding would be used to continue growth and take the company to th= e=20 break even point in the middle of 2002. To date, Rivio has raised $61 milli= on=20 in four rounds from Accenture Technology Ventures, Bank of America,=20 BellSouth, Internet HealthCare Group, Marsh & McLennan Capital, Opportunity= =20 Capital Partners, Softbank Venture Capital, and VerticalNet. =20 =09=09http://www.rivio.com=20 =09=09 =09=09 =09=09Circles Lands $10 Million in Series D, Adds Lead to Board =09=09 mail? top =09=09 =09=09 BOSTON (VENTUREWIRE) -- Circles, which delivers concierge and person= al=20 assistance services, said it raised $10 million in its third round from new= =20 lead investor Hearst Interactive Media, new investor Axxon Capital, and=20 return investors TL Ventures and Trident Capital. The money will be used fo= r=20 operations and expanding market position. Ken Bronfin, senior vice presiden= t=20 of Hearst, becomes the eighth member or the board. He joins Bob Keith,=20 managing partner of TL Ventures; Peter Meekin, managing director of Trident= =20 Capital; Phyllis Swersky, president of The Meltech Group; Bob Schechter, CE= O=20 of Natural Microsystems; and Jenne Britell, chairman and CEO of Structured= =20 Ventures. Co-founder Janet Kraus is the company's CEO. Founded in 1997,=20 Circles has raised $26.8 million to date. Circles is advised by the Boston= =20 office of Foley Hoag & Eliot.=20 =09=09http://www.circles.com =09=09 =09=09 =09=09Temasek Capital Launches Incubator InCube =09=09 mail? top =09=09 =09=09 SINGAPORE (VENTUREWIRE) -- Temasek Capital, the direct investment ar= m of=20 Temasek Holdings, announced it has launched inCube, an incubator that will= =20 invest in companies developing wireless communications, application service= s,=20 enabling software, artificial intelligence, and speech technology. Temasek = is=20 the only owner of inCube Singapore, while inCube facilities in Chennai and= =20 Shenzhen are joint ventures with other partners. Investments will range fro= m=20 $100,000 to $5 million and each company will remain with the incubator for= =20 between six and 18 months. inCube may make follow-on investments after the= =20 seed stage and is prepared to hold majority ownership of companies if=20 necessary. The incubator currently has a staff of seven with three in=20 Singapore; three in Shenzhen, China; and one in Chennai, India. inCube has= =20 invested SGP7 million ($3.9 million) in eGurkha, a monitoring software=20 company based in Singapore with subsidiaries in India and the U.S. inCube h= as=20 also invested $1.1 million in Bijitec, which d! evelops software that enabl= es=20 handwritten messages to be edited and transmitted. Telephone 65-320-0771=20 =09=09 =09=09 =09=09 new products=20 =09=09? =09=09Medschool.com Changes Name to Medsn =09=09 mail? top =09=09 =09=09 CULVER CITY, Calif. (VENTUREWIRE) -- Medschool.com, a provider of on= line=20 training for healthcare organizations and professionals, announced that it= =20 has changed its name to Medsn. The company, whose services are deployed by= =20 companies in the pharmeceutical, medical device, healthcare communications= =20 fields as well as healthcare risk management companies for corporate=20 training and professional medical education, said that it will relaunch its= =20 Web site in accord with the new corporate identity. To date, Medsn has rais= ed=20 approximately $38 million from Delphi Ventures, GE Equity, Leeds Equity=20 Partners, and Patricof & Co. Ventures.=20 =09=09http://www.medsn.com =09=09 =09=09 =09=09 m&a=20 =09=09? =09=09Platinum Equity Merges Tesseract, Infocus Employee Services =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Platinum Equity Holdings, a private e= quity=20 firm, announced that two of its portfolio companies, Tesseract and Infocus= =20 Employee Services, have merged. Tesseract provides Web-enabled human resour= ce=20 software, and Infocus is a human resource ASP that uses the Tesseract syste= m=20 as the platform for its services. The combined entity will provides both=20 human resources management systems and outsourced services as an applicatio= n=20 services provider. Mary T. Kohler, the current president and CEO of=20 Tesseract, will head the newly combined operations, and all other Tesseract= =20 and Infocus management staff will remain in their current positions. Platin= um=20 Equity specializes in the acquisition and operation of global technology=20 companies. Platinum has acquired more than 25 companies. =20 =09=09http://www.peh.com =09=09http://www.tesseract.com =09=09 =09=09 =09=09DataMirror Acquires Technology, Assets of Bankrupt saipx =09=09 mail? top =09=09 =09=09 TORONTO (VENTUREWIRE) -- DataMirror, a publicly traded provider of= =20 enterprise application integration software, announced it has purchased the= =20 technology and certain related assets of saipx, which provided wireless=20 gateway technology for mobile automation. Terms of the all-cash transaction= =20 were not disclosed; the acquisition will be accounted for under the purchas= e=20 method. A. Farber and Partners served as a receiver for saipx, which filed= =20 for bankruptcy approximately two weeks ago. About 11 members of the former= =20 saipx staff have joined DataMirror. saipx was backed by Royal Bank of Canad= a=20 and RT Capital. =09=09http://www.datamirror.com =09=09 =09=09 =09=09 new directors=20 =09=09? =09=09Music Buddha Adds to Board =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Music Buddha, which provides music=20 recommendations based on user preferences, said Martin Hall has joined as t= he=20 third member of board of directors. He is the current chief technology=20 officer of Stardust.com, part of Penton Media's Internet Media Group. The= =20 board also includes Thomas Dolby Robertson, founder and CEO of Beatnik, and= =20 Mitch Ferguson, vice president of Vitria Technology. Music Buddha's executi= ve=20 team includes chairman, co-founder, president, and CEO John Adams and chief= =20 operating officer, Murray C. Nixon. The company is funded by individuals.= =20 Music Buddha is currently raising a bridge round of between $800,000 and $2= =20 million, which it expects to close this summer. Since its launch in June=20 1999, it has raised approximately $8.05 million.=20 =09=09http://www.mubu.com =09=09 =09=09 =09=09Ticketing Service Justarrive Adds Jack Kemp to Board =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Justarrive, a provider of electronic= =20 ticketing and marketing services for the sports and entertainment industry,= =20 said it named Jack Kemp, co-director of Empower America and former Republic= an=20 vice presidential candidate to its board of directors. He becomes the fifth= =20 board member. Mr. Kemp served as secretary of Housing and Urban Development= =20 and as a member of the House of Representatives after playing professional= =20 football for 13 years. He currently serves as vice president of NFL=20 Charities. Justarrive raised a $5 million Series A round of funding last Ju= ne=20 with Mohr Davidow Ventures as the lead investor. The company said it is=20 currently raising a Series B round of financing.=20 =09=09http://www.justarrive.com =09=09 =09=09 =09=09 new people=20 =09=09? =09=09Wellogix Names President to CEO, Appoints New Chairman =09=09 mail? top =09=09 =09=09 HOUSTON (VENTUREWIRE) -- Wellogix, a provider of workflow process=20 improvement and collaborative Internet technology for the oil and gas=20 industry, said that its chief executive officer Jeff Livesay has stepped do= wn=20 from his post, and Zeke Zeringue, the company's president, has been named= =20 named to the position. Mr. Livesay, who is also the company's co-founder,= =20 will remain active on its board, but will not participate in the day-to-day= =20 operations of the company. He will remain on the company's board as vice=20 chairman, sharing the title with co-founder John Chisholm, who has been=20 demoted from the chairmanship. Wellogix said director Fred Weber, a partner= =20 at The Wolpin Company, will now serve as the company's new chairman. Wellog= ix=20 is backed by the Beacon Group Energy Investment Fund II, Andersen Consultin= g,=20 Battery Ventures, Burlington Resources, SCF Partners, TechQuest Capital=20 Partners, and Weatherford International.=20 =09=09http://www.wellogix.com =09=09 =09=09 =09=09EXP Systems Names New CEO =09=09 mail? top =09=09 =09=09 MENLO PARK, Calif. (VENTUREWIRE) -- EXP Systems, a provider of enter= prise=20 software, said it named Mark Wright as president and CEO. Mr. Wright replac= es=20 company founder, Mark Benning, in the role of CEO. Mr. Wright comes to the= =20 company from IBM, where he served as VP of software sales and marketing. He= =20 also served as executive vice president of worldwide sales for OneChem, an= =20 application service provider in the chemical industry. Mr. Benning will=20 continue to serve as chairman of the company. EXP's product enables custome= rs=20 to connect in real time with company agents or industry professionals who c= an=20 answer questions and deliver services. In March, the company laid off about= =20 25% of its staff, or about 24 employees. Before this most recent round of= =20 cuts, it laid off 17 people. The company is backed by Ask Jeeves, Bessmer= =20 Venture Partners, Bowman Capital, CMGI@Ventures, J. & W. Seligman, Maveron,= =20 meVC Draper Fisher Jurvetson, and Oracle Ventures. =20 =09=09http://www.exp.com =09=09 =09=09 =09=09 vc fund news=20 =09=09? =09=09Eagle One Launches to Invest with Newbury in Canada =09=09 mail? top =09=09 =09=09 OTTAWA, Canada (VENTUREWIRE) -- Eagle One Ventures, a newly formed v= enture=20 firm, announced the company's launch to assist local networking and telecom= =20 infrastructure equipment companies in raising venture financing. Eagle One= =20 will not have a specific fund, but will represent the Orinda, Calif.-based= =20 Newbury Ventures in Canada and will also work with Ventures Coaches, an=20 Ottawa-based firm funding idea-stage photonics and wireless companies. Eagl= e=20 One will be fielding investments for Newbury's $250 million third fund that= =20 closed in April, and Newbury will invest up to $25 million in seed and earl= y=20 stage companies through Eagle One. Ken Wigglesworth and Conrad Lewis, both= =20 former executives at Newbridge Networks, are the founding partners at Eagle= =20 One Ventures and are also new venture partners at Newbury Ventures, which h= as=20 $600 million in assets under management and offices in the Silicon Valley a= nd=20 Paris. Telephone (613) 271-1005. =09=09 =09=09 =09=09$15 Million Ventureast TeNet Fund To Fund Chenna's ITT =09=09 mail? top =09=09 =09=09 CHENNAI, India (VENTUREWIRE) -- Ventureast Capital announced the lau= nch of=20 the $15 million Ventureast TeNet Fund to fund research coming out of the=20 Indian Institute of Technology in Chennai, India. The fund will invest=20 anywhere from $200,000 to $5 million in the seed and early stages of=20 telecommunications and networking companies. Ray Stata, co-founder and=20 chairman of Analog Devices in Norwood, Mass., invested $10 million in the= =20 fund. Sarath Naru, a partner at Ventureast, will be managing the fund. The= =20 firm said it was currently in discussions with two companies for future=20 investments. Telephone 91-984-101-5857 =09=09http://www.analog.com =09=09 =09=09 =09=09company index =09=09top =09=09 =09=09Rx.com=20 =09=09 =09=09 =09=09Free Trial! Hoover's Online Business Subscription =09=09Sign up now for a free one-week Business Subscription to =09=09Hoover's Online and boost your business intelligence. With =09=09coverage of more than 12 million private and public =09=09companies worldwide, Hoover's Online is the ultimate =09=09resource for in-depth business information, including =09=09company and industry profiles, IPO pricings and filings, =09=09news, financial data, officers, competitors and more! =09=09Sign up today for your free=20 trial.http://www.hoovers.com/hoov/freetrial/vwire.html =09=09 =09=09 =09=09 =09=09investor index =09=09top =09=09 =09=09no investors yet indexed for this issue =09=09 =09=09 =09=09your account =09=09 =09=09click on the following links to: =09=09=01=07 Switch to the plain-text version =09=09=01=07 Change your e-mail address =09=09=01=07 Cancel your subscription =09=09=01=07 Thoughts, suggestions, commentary =09=09=01=07 This newsletter was mailed to you at: jdasovic@ENRON.COM =09=09 =09=09contact =09=09 =09=09Send news items to editor@venturewire.com =09=09Send questions, complaints, or service queries to venturewire@venture= wire.com =09=09Send advertising inquiries to visconti@venturewire.com =09=09 =09=09 =09=09legal =09=09 =09=09This copy of VentureWire and the information within it may not be rep= roduced,=20 saved, or otherwise copied into a database without the prior written consen= t=20 of Technologic Partners. =09=09 =09=09VentureWire is a service mark of Technologic Partners =09=09,2001 Technologic Partners =09=09=09?
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