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?=09VentureWire =09Wednesday, May 23, 2001=09=09? ?=09CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND=09VentureW= ire Index =09=09'VentureWire =09=09today: 736.2 ? -0.55%=09? ? =09=09 =09=09 =09=09top stories =09=09 =09=09 =01=07 Thomas Weisel Closes Early-Stage Fund at $255M =09=09 =01=07 Asera Names Former Tivoli Chief as New President & CEO =09=09 =01=07 Groove Networks Cuts 8%; Will Target Larger Clients=20 =09=09=01=07 VantagePoint Forms $150M New York Fund =09=09 =09=09 =09=09TODAY'S FEATURES=20 =09=09Sun Cuts Investment Size, Looks to Earlier Stage Deals =09=09By Matthew Sheahan =09=09Sun Microsystems Venture & Strategic Investment fund has seen a drama= tic drop=20 in its average investment size, Brian Sutphin, vice president of strategic= =20 development, told VentureWire. more<< =09=09UPCOMING EVENTS=20 =09=09June 5-6: San Francisco =09=09 Mobile Outlook 2001 =09=09 =09=09George Davis, vice chairman and president of Aether Systems, will dis= cuss how=20 his company powers mobile and wireless data services for Charles Schwab,=20 National Discount Brokers, the USPS, Office Depot, Nissan, and more.=20 =09=09With industry leaders such as George Davis planning to be at Mobile O= utlook,=20 why aren't you? Less than 2 weeks, register today!=20 =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=09Optivera Generates Telecom Buzz, Seeks $10 Million =09=09By Jonathan Shieber =09=09After raising $1 million in a January seed funding and generating buz= z among=20 big telecom operators, optical signaling platform developer Optivera is=20 seeking a second round of $10 million, according to company director, Meir= =20 Burstin. more<< =09=09 =09=09Motorola Investing In Fewer Deals =09=09By Matthew Sheahan =09=09Motorola Ventures, the venture capital unit of Motorola, will be inve= sting in=20 fewer deals this year due to a shift in investment strategy, according to= =20 managing director Matthew I. more<< =09=09 =09=09Kagoor Networks Expanding To Europe =09=09By Amanda Briggs =09=09Kagoor Networks, a developer of applications for voice over IP networ= ks, is=20 beefing up its sales staff and intends to open a new office in Europe as pa= rt=20 of its plan to attract global service providers and IP carriers, according = to=20 Opher Kahane, the company's co-founder, president and CEO. more<< =09=09 =09=09 =09=09 =09=09 =09=09new money =09=09 =09=09 =01=07 Atreus To Close $17 Million Series B =09=09 =01=07 JavaBeans App Firm Compoze Gets $1.2 Million Series A =09=09 =01=07 Outsourcing Firm French & Associates Gets $10M Round One =09=09 =01=07 Skire Closes $17M Series B =09=09 =01=07 Voice Commerce App Firm NetByTel Gets $18.1M Second Round =09=09 =01=07 Financial Services Firm BUYandHOLD Secures $10 Million =09=09 =01=07 Marketing Claims Software Firm Bridium Gets $3.5M Round Two =09=09 =01=07 Performix Closes $10M Series B, Adds to Board =09=09 =01=07 PromoOrder Gets $6 Million in Second Round =09=09 =01=07 Video Software Developer Be Here Lands $6M in Series D =09=09 =01=07 Ben Franklin Technology Partners Invests $450,000 =20 =09=09=01=07 Open Solutions Raises $8.8 Million More in Mezzanine Round =09=09 =01=07 Streaming Video Firm EyeWonder Secures $800,000 Bridge =09=09 =01=07 Online Journal Publishing Firm ScholarOne Raises $3.7M =09=09 =01=07 Newtek Capital Puts $2.7M in Group Management Technologies =09=09 =01=07 Web-to-Print Tech Firm Megawheels Raises $5 Million, Cuts 14 =09=09 =01=07 Guardent Raises $20M Series C, Acquires DefendNet =09=09 =09=09 =09=09bad news =09=09 =09=09 =01=07 ClickThings Clicks No More, Shuts Down =09=09 =01=07 PurpleYogi Cuts 10% Staff & Shifts To Enterprise Focus =09=09 =09=09 =09=09new products =09=09 =09=09 =01=07 Pharmagenesis, Tianjin Zhong Xin Forms AntiCancer Drug Firm =09=09 =01=07 Info Management Firm Oingo Changes Name to Applied Semantics =09=09 =01=07 Broadband Provider Salira Optical Network Systems Launches =09=09 =01=07 Delta Pharmaceuticals Changes Name to Ardent Pharmaceuticals =09=09 =09=09 =09=09m&a =09=09 =09=09 =01=07 Atinera Acquires TraveLease in Asset Sale =09=09 =01=07 CAT Technology Intends to Sell Services Unit=20 =09=09=01=07 Renaissance Interactive Holding Corp. Becomes Impressa=20 =09=09=01=07 IT Factory Acquires Knowledge App Firm Synergistics =09=09 =01=07 eFS Network and Maverick Xchange Merge =09=09 =01=07 AskJeeves Acquires Defunct eTour's Assets for Cash =09=09 =01=07 Investment Club Firm Actifunds Buys Iclubcentral.com=20 =09=09=01=07 OneMade Acquires Collector Online in Stock Deal =09=09 =09=09 =09=09new directors =09=09 =09=09 =01=07 Biotech Firm Advanced Life Sciences Names New Director =09=09 =01=07 Symmetry Communications Names Thales Group Exec. to Board =09=09 =09=09 =09=09new people =09=09 =09=09 =01=07 Nexterna Taps Ex-CellStar COO as President and CEO =09=09 =01=07 Storage Tech Firm i-drive Names Arif Janjua New CEO =09=09 =01=07 MEMS Firm InLight Communications Appoints President & CEO =09=09 =01=07 IT Consultancy Endymion Systems Promotes COO to CEO =09=09 =09=09 =09=09vc fund news =09=09 =09=09 =01=07 e4e Names New Partner, Will Open Mid-Atlantic Region Office =09=09 =01=07 IM Life Sciences Raising $100M Genomics, BioInformatics Fund =09=09 =01=07 Munder Reopens Munder Netnet Internet Mutual Fund =09=09 =09=09 =09=09vc personnel =09=09 =09=09 =01=07 Jordan Edmiston Appoints New Managing Director =09=09 =09=09 =09=09vw corrections =09=09 =09=09 =01=07 Zight =09=09 =01=07 Antrim Design Systems =09=09 =09=09 TOP STORIES... NEW MONEY... BAD NEWS... NEW PRODUCTS... M&A... NEW= =20 DIRECTORS... NEW PEOPLE... VC FUND NEWS... VC PERSONNEL... VW CORRECTIONS =09=09 =09=09 =09=09top =09=09 =09=09 =09=09What do beige boxes have to do with data? =09=09Nothing, that's what. The future is wireless =09=09Palm pilots and cell phones and a huge =09=09percentage of research and development over =09=09the next few years will be devoted to figuring =09=09out how to tap into it. =09=09 =09=09Mobile Outlook is the convergence of hundreds of =09=09entrepreneurs and investors, all devoted to =09=09thinking outside the beige box. If you move data, =09=09you can't afford to miss it. =09=09 =09=09Mobile Outlook 2001. Register today:http://www.mobile2001.net/registe= r.asp =09=09 =09=09 =09=09 =09=09 top stories=20 =09=09? =09=09Thomas Weisel Closes Early-Stage Fund at $255M =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Thomas Weisel Partners, a merchant ba= nk,=20 announced that it closed its early-stage venture fund, Thomas Weisel Ventur= e=20 Partners (TWVP), at $255 million in March. Andy Sessions, one of the partne= rs=20 at Thomas Weisel, said the fund, started in September 2000, was originally= =20 targeted to close at $250 million. Mr. Sessions also said TWVP is to be=20 invested over two years in 20 North American technology infrastructure=20 companies in the communications, software, and Internet sectors. TWVP will= =20 make investments of between $2 million and $10 million. TWVP has already=20 invested in Aligo, Bay Microsystems, and Santel Networks. Mr.Sessions also= =20 said TWVP was seriously evaluating two or three companies at present. Dave= =20 Crowder is the other partner responsible for TWVP, which will be managed ou= t=20 of Menlo Park, Calif. CalPERS, EFG, National Citibank, JDS Uniphase, Natxis= ,=20 Raytheon, S.E. Banken, Siebel Systems, and Winterthur are among the limited= =20 partners in the fund. TWVP is the second fund ! raised by Thomas Weisel=20 Partners. The first fund, Thomas Weisel Capital Partners, closed in January= =20 2000 at $1.3 billion and is a later stage private fund. =20 =09=09http://www.tweisel.com =09=09 =09=09 =09=09Asera Names Former Tivoli Chief as New President & CEO =09=09 mail? top =09=09 =09=09 BELMONT, Calif. (VENTUREWIRE) -- Asera, a provider of enterprise ope= rating=20 systems, said it has named David Murphy as president and CEO. He succeeds= =20 Warren Weiss, who will remain with the company as special advisor to the=20 board through the third quarter of this year. Prior to joining Asera, Mr.= =20 Murphy was president of enterprise e-business software firm Tivoli Systems,= a=20 subsidiary of IBM. Additionally, Mr. Murphy joins as the ninth member of th= e=20 company's board, which includes Vinod Khosla and Raymond J. Lane of Kleiner= =20 Perkins and Matthew Cowan of Bowman Capital. To date, Asera has raised=20 approximately $175 million in funding from investors including AC Ventures,= =20 Amerindo Investment Advisors, Bowman Capital Management, BP Amoco, Capital= =20 Research Management, Cisco Systems, Crescendo Ventures, Crosslink Capital,= =20 Eastman Chemical, GE Capital Equity Group, Integral Capital Partners, Intel= ,=20 Kleiner Perkins Caufield & Byers, and others.=20 =09=09http://www.asera.com =09=09 =09=09 =09=09Groove Networks Cuts 8%; Will Target Larger Clients=20 =09=09mail? top =09=09 =09=09 BEVERLY, Mass. (VENTUREWIRE) -- Groove Networks, which provides=20 peer-to-peer and peer-to-Web software and services, said it cut 19 people, = or=20 8% of its staff, on Monday as the company restructures to focus more on=20 direct sales opportunities. Groove also said it was going to be targeting= =20 more large enterprise clients and moving away from focusing on small- and= =20 medium-sized business clients. The laid-off employees received severance an= d=20 were concentrated in the marketing and indirect sales divisions. Groove,=20 which currently employs 205 people, also said it had 13 open positions in i= ts=20 national sales division. The company also said it plans to raise a new roun= d=20 later this year. Groove Networks was founded in 1997 by Ray Ozzie and has= =20 raised $63 million in three rounds from Accel Partners, Intel Capital, and= =20 individual investors.=20 =09=09http://www.groovenetworks.com =09=09 =09=09 =09=09VantagePoint Forms $150M New York Fund =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- VantagePoint Venture Partners has announce= d a $150=20 million fund, VantagePoint New York Fund (VP NY), with a $50 million=20 investment from existing limited partner New York State Teachers' Retiremen= t=20 Systems. Other undisclosed limited partners also contributed to the fund. T= he=20 venture capital firm may double the size of the fund over the next year, sa= id=20 partner Alan E. Salzman. VP NY will make 15 to 20 investments ranging from = $5=20 million to $25 million over the next two years. It will focus on early-stag= e=20 companies based in New York or with substantial business activity in the=20 area. VantagePoint, which currently invests about 85% of its funds in=20 first-round deals, expects the same percentage of early-stage deals in its= =20 new fund. The fund will focus on the data networking, wireless, optical,=20 communications, and semiconductors industry. Terms of the fund were not=20 disclosed, though Mr. Salzman said the carried interest was greater than 20= %.=20 The firm, which currently has 14 par! tners, expects to add two to three=20 partners over the next year. Yesterday VantagePoint opened its New York=20 office, which is headed by John Kain, Ken Kharbanda, and William Marshall.= =20 VantagePoint, which closed a $1.6 billion fund in October 2000, has $2.5=20 billion in committed capital. =09=09http://www.vpvp.com =09=09 =09=09 =09=09 new money=20 =09=09? =09=09Atreus To Close $17 Million Series B =09=09 mail? top =09=09 =09=09 SANTA CLARA, Calif. (VENTUREWIRE) -- Atreus Systems, a Santa Clara, = Calif.=20 broadband service and delivery platform developer, is expected to announce= =20 today that it closed a $17 million Series B round of funding. Company=20 co-founder and acting CEO Andrea Baptiste spoke with VentureWire before the= =20 closing and said the company would have a new CEO within the next quarter,= =20 increase the number of employees, and open a European office over the next= =20 year. Softbank Venture Capital led the round, which was targeted for betwe= en=20 $15 million and $20 million. Softbank Venture Capital executive managing=20 director Gary Rieschel will sit on Atreus System's board of directors. The= =20 two previous VC investors from the company's $4.4 million Series A round --= =20 San Francisco's Blueprint Ventures and Ottawa's Skypoint Capital -- also=20 invested. "The Series B took us a month longer than we thought," said Ms.= =20 Baptiste, who added that the round was an up round. "There was no pressure= =20 for a flat or down round," she said. A! treus Systems, which has 95=20 employees in nine offices throughout the U.S. and Canada, expects to have 1= 40=20 employees by the second quarter of next year. Most of those new employees= =20 will be put to work in research and development and sales and marketing=20 positions. And some of those new employees will go overseas. Ms. Baptiste,= =20 who co-founded Atreus with company president Doug Bellinger, said she expec= ts=20 the company to open offices in Europe, probably beginning in the U.K. Ms.= =20 Baptiste, who has been acting CEO since September of 2000 and held position= s=20 with Cambrian Systems, CrossKeys Systems, and Newbridge Networks, said that= =20 the company would likely be profitable by 2002. She added that while the= =20 market was bleak for broadband carriers now, things would eventually change= =20 and the carriers will be in a position to expand and will need to purchase= =20 services that will help them generate revenue. "I'm optimistic that the=20 market is going to recover in a reasonable amount of ti! me," she said.=20 =09=09http://www.atreus-systems.com =09=09 =09=09 =09=09JavaBeans App Firm Compoze Gets $1.2 Million Series A =09=09 mail? top =09=09 =09=09 PHILADELPHIA (VENTUREWIRE) -- Compoze Software, which provides serve= r-side=20 enterprise JavaBeans software for business applications, announced it has= =20 closed $1.2 million in Series A financing. Robin Hood Ventures led the roun= d,=20 with participation from SeaCap Ventures, bHive, and individuals. Post-money= ,=20 Compoze has a valuation of about $5 million. As a result of the round, Larr= y=20 Brotzge of Robin Hood Ventures and Allen Paik of SeaCap Ventures join the= =20 board, bringing total number of directors to four. The company said it will= =20 use the funds for sales and marketing. The company said the funds are=20 expected to last a year, at which point it expects to raise another round o= f=20 financing. The company employs 14 now and anticipates expanding to 20 by th= e=20 end of the year. =09=09http://www.compoze.com =09=09 =09=09 =09=09Outsourcing Firm French & Associates Gets $10M Round One =09=09 mail? top =09=09 =09=09 DUBLIN, Ireland (VENTUREWIRE) -- French & Associates, which provides= =20 order-to-cash and accounts receivable outsourcing services, said it closed = a=20 $10 million first round with Accretive Technology Partners of New York. Sam= =20 Blyaker, Michael Klein, and Martin Muoto of Accretive will be joining the= =20 board of directors that now has seven people. French & Associates, founded = in=20 1987, also said it plans on adding industry experts as board members. The= =20 company said the financing would be used for expanding its presence in=20 Europe, opening another U.S. office by the third quarter; hiring executive= =20 staff, including a new CEO to guide planned growth; and for research and=20 development. French & Associates also has offices in Atlanta.=20 =09=09http://www.frenchassociates.com =09=09 =09=09 =09=09Skire Closes $17M Series B =09=09 mail? top =09=09 =09=09 MENLO PARK, Calif. (VENTUREWIRE) -- Skire, which provides enterprise= =20 software, said it closed its Series B at $17 million led by new investor=20 Walden International with participation by all past investors -- Hummer=20 Winblad Venture Partners and Asset Management Company -- and new investor= =20 Acacia Venture Partners. The company would not disclose the valuation, but= =20 said it was an up round. It also said the money will be used to grow its=20 customer base. Lip-Bu Tan, chairman and founder of Walden International, ha= s=20 become the fourth member of the board of directors. The company expects to= =20 add an independent director to its board soon. Hummer Winblad led Skire's= =20 first round in August 2000 and board seats were given to John Hummer, partn= er=20 of Hummer Winblad, and Ben Dubin, partner of Asset Management. The company = is=20 advised by the Silicon Valley office of law firm Brobeck, Phleger & Harriso= n.=20 According to a company spokesman, Skire began looking to raise this round t= wo=20 months ago. CEO Massy Mehdipour founded the com! pany in 1999.=20 =09=09http://www.skire.com =09=09 =09=09 =09=09Voice Commerce App Firm NetByTel Gets $18.1M Second Round =09=09 mail? top =09=09 =09=09 BOCA RATON, Fla. (VENTUREWIRE) -- NetByTel, which provides voice com= merce=20 applications that connect online e-commerce systems and telephones using=20 speech recognition as the interface, announced it has secured $18.1 million= =20 in its second round of funding led by new investor Lazard Technology=20 Partners, who invested $5.6 million in the company. Other new investors in= =20 the round included Noro-Mosley Partners, Accenture Technology Ventures, and= =20 InCentive Capital Group. NetByTel's first round investors, Chelsea Capital,= =20 Mesco Limited and T-Ventures, also participated in the round. A spokesman f= or=20 NetByTel said the round was over-subscribed and that the company eventually= =20 had to turn down offers. The company said it plans to use the funding to=20 continue to build its infrastructure and to ramp up sales and marketing, th= e=20 spokesman said. NetByTel currently has 58 employees, and expects to hire 22= =20 more people by the end of the year, he said. This latest round, which bring= s=20 the total capital invested in NetByTel to $! 25 million, is expected to tak= e=20 the company to profitability, but the spokesman said he did not know when= =20 that would happen. Tom Fischer, a general partner at Accenture Technology= =20 Ventures; Steve Nussrallah, a partner with Noro-Mosely; and Russell Planitz= er=20 will join NetByTel's board of directors. The additions brings the total=20 number of directors at the company to seven. NetByTel has 11 customers,=20 including Office Depot and the State of Illinois.=20 =09=09http://www.netbytel.com =09=09 =09=09 =09=09Financial Services Firm BUYandHOLD Secures $10 Million =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- BUYandHOLD, which provides investment serv= ices and=20 fractional share ownership to investors dedicated to the "buy and hold"=20 investment strategy, announced it has secured an additional $10 million in= =20 financing from its existing investors, which includes Goldman Sachs, Domini= on=20 Ventures, APV Technology Partners, and TH Lee.Putnam Internet Partners.=20 BUYandHOLD raised $42 million in its second round of funding last May. The= =20 company plans to use this latest round to expand its trading capabilities,= =20 enhance investment services and product offerings, and expand marketing=20 initiatives for its online brokerage subsidiary. The recent financing is=20 expected to take BUYandHOLD to profitability, a company spokeswoman said.= =20 Other investors in BUYandHOLD include The Bank of New York Company, Barnard= &=20 Company, Platform Ventures, and The Roman Arch Funds. CNN is also an invest= or=20 in the company. =20 =09=09http://www.buyandhold.com =09=09 =09=09 =09=09Marketing Claims Software Firm Bridium Gets $3.5M Round Two =09=09 mail? top =09=09 =09=09 ATLANTA (VENTUREWIRE) -- Bridium, which provides the financial servi= ces=20 industry with marketing claims software, announced it has secured $3.5=20 million in its second round of funding from its previous investor=20 CyberStarts, an Atlanta-based holding company. The company said it will use= =20 the funding to launch new products, form strategic partnerships, and for=20 operating costs. Bridium, formerly CyberASP, secured $5 million from=20 CyberStarts in its first round last June. CyberStarts strategic investors= =20 include iXL Ventures, Wachovia Capital, Marh & McLennan Capital, and First= =20 Data. =09=09http://www.bridium.com =09=09 =09=09 =09=09Performix Closes $10M Series B, Adds to Board =09=09 mail? top =09=09 =09=09 BURLINGTON, Mass. (VENTUREWIRE) -- Performix Technologies, which pro= vides=20 software to increase call center profitability, said it closed its Series B= =20 at $10 million from Dublin-based ICC Software Partner and private investors= .=20 The money will be used for expansion into the U.S. George G. Moore, founder= ,=20 chairman, and CEO of Targus Information has joined the board of directors.= =20 According to the company, its valuation went from $26 million to $44 millio= n=20 as a result of this round. Performix is based in Dublin, where it opened in= =20 1998, and has U.S. headquarters in Burlington, Mass., that opened in Octobe= r=20 2000. The company employs a total of 35 people at both locations. ICC=20 Software led the company's $6.5 million Series A in April 2000. =20 =09=09http://www.performixtechnologies.com =09=09 =09=09 =09=09PromoOrder Gets $6 Million in Second Round =09=09 mail? top =09=09 =09=09 AUSTIN, Texas (VENTUREWIRE) -- PromoOrder, which provides the promot= ional=20 products industry with Internet-based software systems, announced it has=20 raised $6 million in its second round of funding led by its previous invest= or=20 Polaris Venture Partners. G51 Capital, also a previous investor in=20 promoOrder, participated in the round along with undisclosed individual=20 investors. Polaris, which has two representatives on the promoOrder board,= =20 will take on an additional board seat. President and CEO Mike Linderman sai= d=20 promoOrder's valuation fell in this round, but added that the pricing=20 accurately reflects the current market standards. Mr. Linderman said=20 promoOrder expects the latest round to take the company to profitability=20 during the third quarter of 2002. promoOrder has raised $12.5 million in=20 funding to date. =09=09http://www.promoorder.com =09=09 =09=09 =09=09Video Software Developer Be Here Lands $6M in Series D =09=09 mail? top =09=09 =09=09 LOS ANGELES (VENTUREWIRE) -- Be Here, a developer of video software = and=20 products, said it received $6 million in new Series D financing, bringing t= he=20 total amount of capital raised since 1996 to $23 million. Investors in the= =20 most recent financing include Snider Capital, Eastman Kodak, Intel Capital,= =20 Philips Electronics, Enterprise Partners, Totem Investment Partners, and=20 Wasserstein Adelson Ventures. Snider Capital led the round, and was the onl= y=20 new investor. The company said that the funds will be used for sales,=20 marketing, product development, and infrastructure expansion=20 activities. =20 =09=09http://www.behere.com =09=09 =09=09 =09=09Ben Franklin Technology Partners Invests $450,000 =20 =09=09mail? top =09=09 =09=09 PHILADELPHIA (VENTUREWIRE) -- Ben Franklin Technology Partners, a ve= nture=20 network supported by the Pennsylvania Department of Community and Economic= =20 Development's Ben Franklin Partnership, announced that it has awarded=20 $450,000 in company investments for prototype and product development. The= =20 financing will be divided among three Pennsylvania-based companies:=20 EnviroGrow Solutions, which provides composting technology for animal waste= ;=20 iDayo Investor, a provider of financial content services for the investment= =20 community; and NetXentry, an Internet-based inbound and outbound calling=20 platform for data collection. Ben Franklin Technology Partners currently=20 maintains a portfolio of 140 companies representing over $14 million invest= ed=20 in southeastern Pennsylvania. =09=09http://www.benfranklin.org =09=09 =09=09 =09=09Open Solutions Raises $8.8 Million More in Mezzanine Round =09=09 mail? top =09=09 =09=09 GLASTONBURY, Conn. (VENTUREWIRE) -- Open Solutions (OSI), a provider= of data=20 processing, Internet banking, and e-commerce financial services for communi= ty=20 banks and credit unions, said it raised another $8.8 million as part of its= =20 mezzanine round, led by Key Principle Partners. Allianz of America also=20 invested along with previous investors including Aetna Investments, Axiom= =20 Venture Partners, Connecticut Innovations, Crystal Internet Ventures, Menlo= =20 Ventures, and Webster Bank of Connecticut. The company raised $20 million i= n=20 its mezzanine round last March. Open Solutions said it will close the round= =20 at $30 million. The company said it will use the additional funding to purs= ue=20 strategic opportunities and acquisitions and for ongoing operations. =20 =09=09http://www.opensolutions.com =09=09 =09=09 =09=09Streaming Video Firm EyeWonder Secures $800,000 Bridge =09=09 mail? top =09=09 =09=09 ATLANTA (VENTUREWIRE) -- EyeWonder, a developer of instant streaming= video=20 technologies for Internet and wireless advertising and communication, said = it=20 received $800,000 in bridge financing co-led by Eyevest, which led the seri= es=20 A round, and new investor Andojo I. EyeWonder said it expects to reach=20 positive cash flow by July. The company also said it was expecting to raise= a=20 $6 million second round within the next three months. EyeWonder has raised = a=20 total of $3.7 million. =09=09http://www.eyewonder.com =09=09 =09=09 =09=09Online Journal Publishing Firm ScholarOne Raises $3.7M =09=09 mail? top =09=09 =09=09 CHARLOTTESVILLE, Va. (VENTUREWIRE) -- ScholarOne, a provider of Web= -based=20 content management and production services for the scholarly publications= =20 market, said it closed its Series A round of funding with $3.7 million led = by=20 Tall Oaks Capital. Commonwealth Ventures, MV Management, Village Ventures,= =20 and Southside Rising also participated in the round. The company said it=20 would use the funding to increase its technology, research, and development= =20 teams, and to expand marketing efforts in the U.S., Europe and Asia.=20 Representatives from MV Management and Tall Oaks will join the company's=20 board of directors. ScholarOne's Web-based applications enable publishers t= o=20 manage the submission, peer review, production, and publication processes o= f=20 scientific, technical, medical and other academic journals. =09=09http://www.scholarone.com =09=09 =09=09 =09=09Newtek Capital Puts $2.7M in Group Management Technologies =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- Newtek Capital, a publicly traded firm whi= ch=20 invests in early-stage technology and Internet companies through seven=20 capital companies in four states, said it invested $2.7 million in Group=20 Management Technologies (GMT), a consulting firm providing financial,=20 operational, and management services, located in West Palm Beach, Fla.=20 Newtek's CEO Barry Sloane and CFO Brian Wasserman will be taking the third= =20 and fourth seats on GMT's board of directors. Newtek said the financing wou= ld=20 be used for expanding GMT's marketing, corporate infrastructure, and for=20 hiring additional employees. GMT currently provides its services to seven o= f=20 Newtek's partner companies. Newtek made the investment through its Florida= =20 certified Capco and now owns a 50% equity stake in GMT.=20 =09=09http://www.newtekcapital.com =09=09 =09=09 =09=09Web-to-Print Tech Firm Megawheels Raises $5 Million, Cuts 14 =09=09 mail? top =09=09 =09=09 CALGARY, Alberta (VENTUREWIRE) -- Megawheels, a publicly traded comp= any=20 which provides Web-to-print technology as well as search engines for the=20 automotive manufacturing and advertising sectors, announced it has secured = $5=20 million in funding led by Venture Investment Management Company. eLab=20 Technology Fund, Royal Bank Capital partners, and undisclosed investors als= o=20 participated in this round. The company plans to use the financing to=20 accelerate global expansion and to execute its plan to be cashflow-positive= =20 by the end of the year. In conjunction with the funding, the company said i= t=20 has eliminated 14 positions.=20 =09=09http://www.megawheels.com =09=09 =09=09 =09=09Guardent Raises $20M Series C, Acquires DefendNet =09=09 mail? top =09=09 =09=09 WALTHAM, Mass. (VENTUREWIRE) -- Guardent, a digital security firm, s= aid it=20 has raised $20 million in Series C financing led by new investor Citigroup'= s=20 e-Citi unit and acquired Providence, R.I.-based provider of managed securit= y=20 services DefendNet Solutions. New strategic investor Mercury Interactive=20 joined all existing investors -- Charles River Ventures, New Enterprise=20 Associates, and Sequoia Capital -- in this round. Kate Sullivan, COO for=20 e-Citi, takes the sixth seat on the board of directors. Guardent declined t= o=20 comment on post-money valuation. Series C funding will be used for the=20 acquisition of DefendNet's technology and customer assets and for general= =20 business operations. The company expects to become cash-flow positive by th= e=20 end of the year. Guardent acquired DefendNet for mostly stock and some cash= .=20 Details of the deal, which closed on Monday, were not disclosed. DefendNet,= a=20 security services firm that focused on outsourced operations at mid-tier=20 companies, was backed by M/C Ventures. ! Approximately 20 DefendNet employe= es=20 have joined Guardent, bringing staff size at Guardent to about 185. DefendN= et=20 president and CEO Vin Giordano has left the company, though he retains an= =20 equity stake in Guardent. Testa, Hurwitz advised Guardent in the deal.=20 Guardent will retain DefendNet's Providence, R.I. office. =09=09http://www.defendnet.com =09=09http://www.guardent.com =09=09 =09=09 =09=09 bad news=20 =09=09? =09=09ClickThings Clicks No More, Shuts Down =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- ClickThings, a developer of technology tha= t=20 enables companies to build and manage Web sites, has taken down its Web sit= e=20 and is in the process of closing down the company. "They needed to raise a= =20 round and couldn't raise it," said board member Stephen M. Krupa of the=20 Psilos Group. "They had an impressive technology and the sourcecode will=20 probably be sold to somebody." Mr. Kubel said the company has laid off almo= st=20 all of its approximately 30 employees. ClickThings received funding from=20 China.com, Holden Capital, Paine Webber, and Psilos Group. Mr. Krupa said= =20 ClickThings recently received interest from some investors to commit capita= l,=20 but not enough to raise a substantial round.=20 =09=09http://www.clickthings.com =09=09 =09=09 =09=09PurpleYogi Cuts 10% Staff & Shifts To Enterprise Focus =09=09 mail? top =09=09 =09=09 MOUNTAIN VIEW, Calif. (VENTUREWIRE) -- PurpleYogi, a creator of dis= tributed=20 information management software, said it laid off approximately 10 people, = or=20 10% of its 95-person workforce, three weeks ago as the company shifted its= =20 business strategy from focusing on Internet news services to enterprise=20 software firms. The laid-off employees received severance. The company said= =20 it will continue to service its news service clients but will also be=20 accelerating its development of products for large enterprises. PurpleYogi= =20 said it will begin beta-testing enterprise software this summer and will=20 commercially launch its enterprise-oriented services in the fall. The compa= ny=20 also said it was looking to expand its current 10-person sales force.=20 PurpleYogi has raised over $33.1 million in four rounds from At India, H&Q= =20 Asia Pacific, Infosys Technologies, Intel Capital, Skyblaze Ventures,=20 Softbank Venture Capital, and individuals. =20 =09=09http://www.purpleyogi.com =09=09 =09=09 =09=09 new products=20 =09=09? =09=09Pharmagenesis, Tianjin Zhong Xin Forms AntiCancer Drug Firm =09=09 mail? top =09=09 =09=09 PALO ALTO, Calif. (VENTUREWIRE) -- Pharmagenesis, a privately held= =20 biotechnology company focused on anticancer therapies, announced its parent= =20 company, The Orchid Group, has partnered with Tianjin Zhong Xin=20 Pharmaceutical Group, a publicly traded Chinese pharmaceutical manufacturer= ,=20 to form a new company for the production of PG2, a cancer therapy drug that= =20 restores blood cells destroyed by chemotherapy. The new company, Tianjin=20 Hualong Pharmaceutical Company, will build a new factory for the production= =20 of PG2. As part of the agreement, Pharmagenesis will hold a 70% share in th= e=20 new company, and Tianjin Zhong Xin will hold the remaining 30%. Pharmagenis= is=20 is backed by Biomerieux-Pierre Fabre, The Dassault Group, insurance and=20 investment group AXA, and an undisclosed Hong Kong-based investment group.= =20 Telephone 310-785-0515 =09=09 =09=09 =09=09Info Management Firm Oingo Changes Name to Applied Semantics =09=09 mail? top =09=09 =09=09 LOS ANGELES (VENTUREWIRE) -- Oingo, a provider of information-manage= ment=20 technology, said it has changed its name to Applied Semantics. The company,= =20 which targets the domain registrar market, develops tools and applications= =20 that enable businesses to organize, manage, and retrieve digital informatio= n=20 in Web-enabled, enterprise, and e-commerce environments. In conjunction wit= h=20 the change of name, Applied Semantics has announced the formation of an=20 enterprise software division which will market tools that enable the=20 automatic, enterprise-wide metatagging, categorization, summarization, and= =20 search of unstructured information. Applied Semantics is backed by Zero=20 Gravity Venture Partners, Ridgestone, Spotideas, Lynx Technology Group, and= =20 law firm Brobeck, Phleger and Harrison.=20 =09=09http://corp.oingo.com =09=09 =09=09 =09=09Broadband Provider Salira Optical Network Systems Launches =09=09 mail? top =09=09 =09=09 SAN JOSE, Calif. (VENTUREWIRE) -- Salira Optical Network Systems, a = provider=20 of IP/Ethernet-based broadband systems, announced its official launch. The= =20 company, whose products are expected to be in customer trials with carriers= =20 by the third quarter of this year, develops optical systems that enable=20 service providers to generate additional revenues from broadband voice,=20 video, and data services for the local access markets. In September 2000,= =20 Salira received $6.9 million in Series A financing led by Vertex Management= =20 Partners, with participation from Trident Ventures, U.O.B. Singapore, and= =20 unnamed individuals. The company is currently seeking a Series B round of $= 20=20 million, to close within the next few weeks.=20 =09=09http://www.salira.com =09=09 =09=09 =09=09Delta Pharmaceuticals Changes Name to Ardent Pharmaceuticals =09=09 mail? top =09=09 =09=09 RESEARCH TRIANGLE PARK, N.C. (VENTUREWIRE) -- Delta Pharmaceuticals,= a=20 developer of novel therapeutics, said that it has changed its name to Arden= t=20 Pharmaceuticals. The company, which currently has three products in human= =20 trials, operates development programs in the areas of pain, urinary=20 incontinence, cardioprotection and depression. In November 2000 Ardent rais= ed=20 $25 million in financing from China Industrial Development Bank of Taiwan a= nd=20 Elan Pharmaceuticals. Post-money, the company has a valuation of=20 approximately $85 million. =20 =09=09http://www.deltapharmaceuticals.com =09=09 =09=09 =09=09 m&a=20 =09=09? =09=09Atinera Acquires TraveLease in Asset Sale =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- Atinera, which develops travel softwa= re and=20 technology applications, said it acquired Seattle-based TraveLease, which= =20 provides automation tools to small- to mid-sized tour operators. Full terms= =20 of the deal were not revealed, only that it was an asset sale. TraveLease= =20 will retain its eight employees in its Seattle office. Atinera is an equal= =20 partnership joint venture between Amadeus Global Travel Distribution, found= ed=20 in 1987, and Fourth Dimension Software, founded in 1983. Announced in=20 December 2000, Amadeus provides funding and worldwide marketing assistance,= =20 and Fourth Dimension Software provides technology and continued support.=20 TraveLease held one round of funding in August 2000 and raised $500,000 fro= m=20 individuals. TraveLease is advised by the Seattle-based law firm Grahm &=20 Dunn.=20 =09=09http://www.collectoronline.com =09=09 =09=09 =09=09CAT Technology Intends to Sell Services Unit=20 =09=09mail? top =09=09 =09=09 LOS GATOS, Calif. (VENTUREWIRE) -- CAT Technology, which provides In= ternet=20 infrastructure equipment procurement services, said it signed a letter of= =20 intent to divest its managed services business unit to eOnline, an enterpri= se=20 application service provider based in Cupertino, Calif. CAT said it expects= =20 the deal to be finalized in 10 days. Financial details of the all-stock dea= l=20 were not disclosed. eOnline will operate the 20-person managed services uni= t=20 out of CAT's Los Gatos headquarters. CAT said the divesture was part of a= =20 realignment strategy and also said it had approached eOnline. CAT also said= =20 it expects to reach a point of positive cash flow in this quarter and has n= o=20 plans for new funding. In January 2000 CAT raised a $4.8 million first roun= d=20 from individual investors. In October 2000 CAT acquired the managed service= s=20 consulting firm Aptia and also received additional funding from Aptia's=20 investors AVI Management Partners, Sutter Hill, and Trident Capital. eOnlin= e=20 has raised over $73.5 million! from Access Technology Partners, Affiliated= =20 Computer Services, Comdisco, Dell Computer, GM Investment Management, Morga= n=20 Stanley Dean Witter Venture Partners, Trident Capital, and individuals. =20 =09=09http://www.cattech.com =09=09 =09=09 =09=09Renaissance Interactive Holding Corp. Becomes Impressa=20 =09=09mail? top =09=09 =09=09 ATLANTA (VENTUREWIRE) -- Renaissance Interactive Holding Corp has me= rged its=20 two companies, Impressa, which provides software for small to mid-sized=20 businesses, and Renaissance Interactive, which develops Web applications an= d=20 provides professional services. The new company will now offer existing=20 services under one name, Impressa. Since the former Renaissance Interactive= =20 Holding Corp functioned as the executive team for both companies, no change= s=20 have been made to its management team. Impressa closed a $16 million round = of=20 funding in March 2000. It is backed by Thayer Capital, Winston Partners, EG= L=20 Holdings, Dauphin Capital, and Robinson-Humphrey Capital Partners. Impressa= 's=20 board of directors includes Scott Andrews, Doug Gilbert, Rich Cannon, Tom= =20 Daly, and Joe Grimaud. =09=09http://www.impressa.com =09=09 =09=09 =09=09IT Factory Acquires Knowledge App Firm Synergistics =09=09 mail? top =09=09 =09=09 BOSTON (VENTUREWIRE) -- IT Factory, a supplier of software tools and= =20 business application objects, said it has acquired Cincinnati-based=20 Synergistics, a provider of knowledge-enabled collaborative applications, f= or=20 an undisclosed amount. IT Factory plans to retain all Synergistics managers= =20 and employees. Lewie Miller, president of Synergistics, will become executi= ve=20 vice president of applications. Factory's investors include 2M Invest,=20 BankInvest, Den Danske Bank, and Gilde.=20 =09=09http://www.itfactory.com =09=09http://www.syner.com =09=09 =09=09 =09=09eFS Network and Maverick Xchange Merge =09=09 mail? top =09=09 =09=09 CHICAGO (VENTUREWIRE) -- eFS Network and Maverick Xchange, which wer= e=20 preparing to launch independent foodservice networks, have merged and will = be=20 based in Chicago. Terms of the deal were not disclosed. A new name of merge= d=20 companies has yet to be determined but is expected within three months. No= =20 office closings or layoffs will occur, said an eFS spokesman. Former=20 president of Nabisco's Foodservice Company and recently appointed eFS CEO= =20 Hank Lambert will become the CEO of the joined companies. Christopher Thorn= e,=20 who founded Maverick, will become president. Pete Levangie, COO of eFS, wil= l=20 continue in that role. eFS and Maverick will also merge select members of= =20 each company's board of directors. In August 2000, Chicago-based eFS was=20 founded by investments from McDonald's Corporation through eMac Digital,=20 which is an Accel-KKR company; Sysco Corporation; Tyson Foods; and Cargill.= =20 It raised an disclosed amount of capital in its Series A in the fall of 200= 0,=20 in which eMac was the only ven! ture capital participant. In April 2000 New= =20 York-based Maverick launched and was co-founded by ten foodservice=20 distribution companies.=20 =09=09http://www.efsnetwork.com =09=09http://www.maverickxchange.com =09=09 =09=09 =09=09AskJeeves Acquires Defunct eTour's Assets for Cash =09=09 mail? top =09=09 =09=09 EMERYVILLE, Calif., (VENTUREWIRE) -- Ask Jeeves, a publicly traded = provider=20 of an online question answering technology, said it acquired the assets of= =20 eTour, a direct marketing and Internet media company that matched sites wit= h=20 users' preferences, for an undisclosed amount of cash. Earlier this month= =20 eTour announced it was closing down and selling its assets. The assets=20 AskJeeves acquired include eTour.com Web property, with 4.5 million=20 registered users; a direct Web site delivery engine; a direct e-mail=20 marketing technology with 2.2 million newsletter subscribers; a registratio= n=20 system; 230 vertical Web site "tours"; and an advertiser base. Ask Jeeves= =20 said it will integrate some of the technology into its site and continue to= =20 operate the eTour.com Web site. eTour had raised $45 million in equity and = $5=20 million in media-for-equity financing from Barnstable Broadcasting, the=20 Beasley Broadcasting Group, eHatchery, Imlay Investments, Jefferson Pilot= =20 Communications, Monarch Capital Partners, NeoCarta Ventures, ! and=20 Susquehanna Radio. Individual investors Jeff Arnold, the founder of WebMD,= =20 and Burt Ellis of iXL also backed the company. Wayne Walker & Associates=20 served as the assignee for selling eTour's assets. =20 =09=09http://www.askjeeves.com =09=09http://www.etour.com =09=09 =09=09 =09=09Investment Club Firm Actifunds Buys Iclubcentral.com=20 =09=09mail? top =09=09 =09=09 CAMBRIDGE, Mass. (VENTUREWIRE) -- Actifunds, which develops technolo= gy for=20 investment clubs, said it acquired Iclubcentral.com, an investment club=20 community site, in a mixed cash-and-stock deal of undisclosed value.=20 Actifunds, which approached iclubcentral.com about the acquisition, said it= =20 will integrate iclubcentral.com's offerings into its own Web sites. Douglas= =20 Gerlack, the founder of iclubcentral.com, will be joining Actifunds as a=20 senior contributing editor. Actifunds said what would become of the staff a= t=20 iclubcentral.com's New York offices has not yet been determined. Actifunds= =20 has received an undisclosed amount of funding from FGII, Hall Skywire, Marc= =20 Kaschky Investments, and individuals. Actifunds received legal counsel from= =20 Goodwin Procter. =09=09http://www.iclub.com =09=09 =09=09 =09=09OneMade Acquires Collector Online in Stock Deal =09=09 mail? top =09=09 =09=09 ALBANY, N.Y. (VENTUREWIRE) -- OneMade, an online arts and crafts=20 marketplace, said it has acquired Burlington, Vt.-based Collector Online,= =20 which operates an online antique mall, in an all-stock deal. Terms of the= =20 deal were not disclosed, but OneMade chairperson Liavan Mallin said OneMade= =20 valued the acquisition based on Collector Online's site traffic and custome= r=20 base. Law firm Hutchins Wheeler advised OneMade in the deal, while Gravel &= =20 Shea advised Collector Online. OneMade will retain the brand name Collector= =20 Online, the online mall, and the office in Burlington, Vt. Four of the eigh= t=20 former employees of the acquired company have been retained. Collector Onli= ne=20 was backed by Aggregate Capital and individuals. OneMade is backed by Eirco= n,=20 U.S. Technologies, and individuals including former president of Excel=20 Communications Jack McLaine. =09=09http://www.collectoronline.com =09=09http://www.onemade.com =09=09 =09=09 =09=09 new directors=20 =09=09? =09=09Biotech Firm Advanced Life Sciences Names New Director =09=09 mail? top =09=09 =09=09 WOODRIDGE, Ill. (VENTUREWIRE) -- Advanced Life Sciences, a developer= of=20 therapeutic compounds to fight infection, inflammation, and cancer, announc= ed=20 the appointment of Rosalie Sagraves to its board of directors. Ms. Sagraves= =20 is president of AphA-APRS, a member of the America Pharmaceutical Associati= on=20 Board of Trustees, and serves as dean and professor of the college of=20 pharmacy at the University of Illinois at Chicago. She joins as the third= =20 member of the seven-seat board, which currently has four seats avalable.=20 Currently backed by individuals and Small Business Innovation Research=20 grants, Advanced Life Sciences is currently seeking between $25 and $50=20 million in a second round of venture and strategic capital, which it hopes = to=20 close by the year's end.=20 =09=09http://www.advancedlifesciences.com =09=09 =09=09 =09=09Symmetry Communications Names Thales Group Exec. to Board =09=09 mail? top =09=09 =09=09 SAN JOSE, Calif. (VENTUREWIRE) -- Symmetry Communications Systems, w= hich=20 provides mobile data and voice technology, announced the appointment of Joh= n=20 Hughes to its board of directors. Mr. Hughes, who is CEO of information=20 technology and services for the Thales Group, joins as the company's eighth= =20 director. The board also includes Thomas Huseby of Seapoint Ventures and=20 David Walrod of Oak Investment Partners. Symmetry Communications Systems is= =20 backed by Acer Technology Venture Fund, API Venture, Seapoint Ventures, and= =20 VenGlobal Capital Partners. Based in San Jose, Calif., the company maintain= s=20 R&D and technical support offices in Taiwan. =09=09http://www.symmetrycomm.com =09=09 =09=09 =09=09 new people=20 =09=09? =09=09Nexterna Taps Ex-CellStar COO as President and CEO =09=09 mail? top =09=09 =09=09 OMAHA, Neb. (VENTUREWIRE) -- Nexterna, which provides wireless appli= cations=20 for the rail, trucking, and field service industries, said Richard M. Gozia= =20 has been appointed CEO and president. Mr. Gozia replaces Lynden Tennison, w= ho=20 had served as CEO since 1998 and has now been promoted to a senior position= =20 in the information technology group at Union Pacific. He also holds a seat = on=20 the board, replacing Mr. Tennison. Prior to Nexterna, Mr. Gozia served as= =20 president and COO at CellStar, a wholesale distributor of wireless=20 telephones. He was introduced to Nexterna through mutual industry contacts.= =20 Nexterna is backed by Fenix, an incubator formed by Union Pacific Corp. =09=09http://www.nexterna.com =09=09 =09=09 =09=09Storage Tech Firm i-drive Names Arif Janjua New CEO =09=09 mail? top =09=09 =09=09 SAN FRANCISCO (VENTUREWIRE) -- i-drive, a provider of storage techno= logy for=20 communication service providers, announced the appointment of Arif Janjua a= s=20 chief executive officer. Mr. Janjua will succeed company co-founder Tim=20 Craycroft, who will return to his position as chief technology officer of t= he=20 company. Most recently, Mr. Janjua led wireless services strategy and=20 acquisition for InfoSpace, where he previously served as president of the= =20 company's consumer services division. i-drive's software products enable=20 access to files and distributed information management from=20 Internet-connected devices. To date, the company has raised approximately $= 30=20 million in three rounds of funding. Backers include Draper Fisher Jurvetson= ,=20 Global Retail Partners, Hikari, Information Technology Ventures, Partners= =20 Group of Switzerland, and ZDNet. Strategic investors include Philips and EM= C.=20 http://www.idrive.com =09=09 =09=09 =09=09MEMS Firm InLight Communications Appoints President & CEO =09=09 mail? top =09=09 =09=09 FREMONT, Calif. (VENTUREWIRE) -- InLight Communications, which provi= des=20 microelectromechanical systems (MEMS) technologies and subsystems that exte= nd=20 the capabilities of broadband networks, said it appointed Steve Tobak as=20 president and CEO. He is the first person to hold this position. Prior to= =20 this appointment, the company was headed by acting general manager Keith=20 Love, who will continue as the company's vice president of operations. Most= =20 recently, Mr. Tobak served as senior vice president of marketing and sales = at=20 Tessera Technologies, a semiconductor intellectual property company. Mr.=20 Tobak has also joined as the fifth member of the board, which included Tedd= y=20 Shalon of Shalon Ventures, Erel Margalit of Jeruslelum Venture Partners and= =20 Ajit Shah of Worldview Technology Partners. To date, InLight Communications= =20 has raised more than $15 million from investors including Jerusalem Venture= =20 Partners, Shalon Ventures, and Worldview Technology Partners. Post-money, t= he=20 company is valued at $28 million.=20 =09=09http://www.inlightcommunications.com =09=09 =09=09 =09=09IT Consultancy Endymion Systems Promotes COO to CEO =09=09 mail? top =09=09 =09=09 OAKLAND, Calif. (VENTUREWIRE) -- Endymion, an information technology= =20 consultancy, announced it has promoted current COO and president Steve King= =20 to CEO. Mr. King replaces Fred Phares, who has stepped down as CEO but=20 remains chairman. Mr. King will also continue as COO and as a board directo= r.=20 Endymion Systems has raised $15 million in Series A funding from meVC and= =20 Ticonderoga Capital, and expects to reach profitability in the third quarte= r. =09=09http://www.esicom.com =09=09 =09=09 =09=09 vc fund news=20 =09=09? =09=09e4e Names New Partner, Will Open Mid-Atlantic Region Office =09=09 mail? top =09=09 =09=09 SANTA CLARA, Calif. (VENTUREWIRE) -- Global technology holding compa= ny e4e=20 has named a new partner and is in the process of expanding its offices to t= he=20 Mid-Atlantic region, VentureWire has learned. The firm, which focuses on=20 Internet infrastructure service companies, said it named Kevin Moore to the= =20 position of vice president. Mr. Moore will focus on the networking services= =20 and wireless spaces. He comes to the firm from Deutsche Banc Alex Brown,=20 where he specialized in telecommunications and Internet infrastructure=20 services equity research. He will head up the firm's McLean, Va. office,=20 which will launch at the end of May.=20 =09=09http://www.e4e.com =09=09 =09=09 =09=09IM Life Sciences Raising $100M Genomics, BioInformatics Fund =09=09 mail? top =09=09 =09=09 LONDON (VENTUREWIRE) -- IM Life Sciences said it has formed to raise= the=20 Next Generation Genomics and Bioinformatics Fund, targeted at $150 million,= =20 with a cap of $150 million and a floor of $40 million, according to IM Life= =20 Sciences' Neil Swift. Iregent, a Hong Kong investment group, has invested i= n=20 the new firm. Mr. Swift said the fund will typically invest between $3=20 million and $5 million in a company's first round of institutional funding.= =20 The fund, set to close in August or September, will focus on the genomics,= =20 proteomics, and bioinformatics sector in Europe and Israel.=20 =09=09http://www.imlifesciences.com =09=09 =09=09 =09=09Munder Reopens Munder Netnet Internet Mutual Fund =09=09 mail? top =09=09 =09=09 BIRMINGHAM, Mich. (VENTUREWIRE) -- Munder Capital Management, invest= ment=20 advisor to The Munder Funds, said the Munder NetNet, an equity mutual fund= =20 that also invests in privately held Internet- or intranet-related businesse= s,=20 will reopen today. The company said it is reopening the fund, which=20 originally closed last April, to take advantage of lower valuations.=20 Portfolio companies include Northville, Mich.-based Nanovation Technologies= ,=20 a developer of photonic integrated circuits for the telecommunications=20 market; San Francisco-based Cidera, which provides satellite-based delivery= =20 of Internet content; and WebCT, a Lynnfield, Mass.-based provider of=20 integrated Internet learning systems for the higher education market. =20 =09=09http://www.munder.com =09=09 =09=09 =09=09 vc personnel=20 =09=09? =09=09Jordan Edmiston Appoints New Managing Director =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- The Jordan Edmiston Group, a media investm= ent=20 bank, announced that Roger L. Krakoff has joined the company and its=20 affiliated venture capital fund, JEGI Capital, as managing director. Prior = to=20 joining Jordan Edmiston, Mr. Krakoff served as a managing director of Veron= is=20 Suhler, responsible for directing their business information and new media= =20 group. JEGI Capital invests in early-stage Internet, digital communications= ,=20 and e-commerce companies. http://www.jegi.com=20 =09=09 =09=09 =09=09 vw corrections=20 =09=09? =09=09Zight =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- An item in Tuesday's VentureWire about Col= orado=20 MicroDisplay, which changed its name to Zight and adjusted its executive=20 management team, incorrectly spelled the name of the company's president an= d=20 CEO. It is Kenney Roberts. =09=09 =09=09 =09=09Antrim Design Systems =09=09 mail? top =09=09 =09=09 NEW YORK (VENTUREWIRE) -- Due to incorrect information provided by a= n=20 investor, an item in Tuesday's VentureWire misstated the total investment= =20 raised by Antrim Design Systems. The company, a provider of electronic data= =20 automation software for semiconductor chips, has raised $36 million to date= . =09=09 =09=09 =09=09company index =09=09top =09=09 =09=09 =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=09Acacia Venture Partners, Accenture Technology Ventures, Aetna Investm= ents,=20 Allianz of America, Asset Management, Axiom Venture Partners, bHive, Chelse= a=20 Capital Partners, Connecticut Innovations, Crystal Internet Venture Funds,= =20 CyberStarts, Eastman Kodak, EnerTech Capital Partners, Hummer Winblad Ventu= re=20 Partners, ICC Software Partners, InCentive Capital Group, Intel Capital, Ke= y=20 Principle Investing, Lazard Technology Partners, Menlo Ventures, Mesco=20 Limited, Noro-Moseley Partners, Robin Hood Ventures, Royal Philips=20 Electronics, SeaCap Ventures, Snider Capital, T-Venture, Totem Investment= =20 Partners, Walden International Investment Group, Wasserstein Adelson=20 Ventures, Webster Bank of Connecticut =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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