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Enron Mail |
o Report: Crosspoint Forgoes $1 Billion New Fund
NEW YORK -- Crosspoint Venture Partners has commitments for a new $1 billion fund but has decided not to raise the capital, according to a report in the Wall Street Journal. The reason for the delay is the difficult environment for investing in new companies and generating high returns. Crosspoint will raise the fund as soon as the environment improves, according to the report. Crosspoint raised an $850 million fund earlier this year. http://www.cpvp.com/ _____________________________________________ o Mineral and Metal Marketplace Gets Funding from Votorantim LOS ANGELES -- Quadrem, an online marketplace for mining, minerals, and metals, said that Votorantim Venture Capital, the venture arm of industrial giant Votorantim Group of Brazil, has become a founding shareholder of Quadrem. Other founding shareholders of include Alcan Aluminium Limited, Alcoa, Anglo American, Barrick Gold, BHP, Corporacion Nacional del Cobre de Chile (CODELCO), Companhia Vale do Rio Doce (CVRD), De Beers Consolidated Mines, Imerys, Inco Limited, Newmont Mining, Noranda. Normandy Mining, Pechiney, Phelps Dodge , Rio Tinto, WMC Limited, and Morgan Stanley Dean Witter. http://www.quadrem.com/ _________________________________________ o Crosslink Capital Makes Add-ons but No New Investments in Q3 SAN FRANCISCO -- Crosslink Capital said that it made no new investments in the third quarter of 2000. The firm said this was the first time this happened since the fourth quarter of 1996. Crosslink did commit additional capital to existing portfolio companies in the third quarter. The firm invested in Brightmail, a provider of anti-spam software; NonStop Solutions, which develops chain automation software; Protocare, a healthcare services company; and techies.com, which provides Web-based IT recruiting services. The firm said it is evaluating potential investments in software, Internet infrastructure, and communications integrated circuits companies. Crosslink Capital has more $800 million under management. http://www.crosslinkcapital.com/ _____________________________________________ EnergyWorkspace in alliance with VerticalNet HOUSTON, Nov. 29 (LocalBusiness.com) -- EnergyWorkspace, a developer of online business software for the oil and gas industry, has formed an alliance with a huge Pennsylvania business-to-business company to co-brand their products. EnergyWorkspace said the deal with VerticalNet Markets, a unit of VerticalNet Inc. (Nasdaq: VERT), of Horsham, Pa., will give its users greater information reach through that company's two energy portals. VerticalNet operates 55 industry-specific online communities, including one for oil and gas interests and another for the hydrocarbon industry. Mark Beatty, president and chief executive officer of Houston-based EnergyWorkspace, said in a release the alliance will aid his customers and it also will "introduce our unique business process support system to thousands of potential clients across a range of energy companies." Both companies commented on how well the two fit each other's needs, stopping just short of mentioning a possible merger. Jerry Alwais, a spokesman for EnergyWorkspace, told LocalBusiness.com that he does not know terms of the deal and has not heard anything about a merger. Officials at each company were not available for futher comment. The once high-flying VerticalNet, whose stock traded as high as $148.38 last spring, opened today at a 52-week low of $10.50. Joseph Galli, chief executive officer and president of VerticalNet, earlier said his company was looking to make strategic acquisitions. He made the announcement at the same time the company said it lost a whopping $121.9 million through the first nine months of the year, compared with a loss of $38.2 million for the period a year earlier. Since EnergyWorkspace is privately held, it doesn't report on its financial picture. ___________________________________________ o Broadband Access Firm Allegro Gets $24 Million First Round SAN JOSE, Calif. -- Allegro Networks, which is developing a wholesale broadband access platform, said it has secured $24 million in its first round of funding from Bessemer Venture Partners, Columbia Capital, and Infinity Capital. The company said it will use the funds to develop its technology. Allegro Networks said it named P.J. Singh as its chief technical officer and acting CEO. Mr. Singh co-founded Packet Engines. http://www.allegronetworks.com/ _______________________________________________ o ASP United Messaging Closes Third Round with $70 Million WEST CHESTER, Pa. -- United Messaging, an enterprise messaging service provider, said it closed a $70 million third round of financing led by Broadview Capital Partners. New investors First Union Capital Partners, Comcast Interactive Capital, and Brinson Partners, and previous investors Internet Capital Group, Oak Investment Partners, Infinity Capital, and Labrador Ventures participated in the round as well. United Messaging is a global application service provider that offers hosted messaging and professional services. The company said it will use the funding to expand service platforms in the U.S. and abroad, to support the launch and promotion of its existing and upcoming messaging technologies and services, and to open new sales offices in Europe and Asia. Broadview and First Union will each receive a seat on United Messaging's board of directors. http://www.unitedmessaging.com/ _____________________________________________ o ID Management Firm Courion Gets $13.2 Million in Round Two FRAMINGHAM, Mass. -- Courion, which develops self-service identity management software, said it secured $13.2 million in its second round of funding led by QuestMark Partners. Other investors include Riggs Capital and previous investors JMI Equity and Massachusetts Technology Development. The company will use the funds to add new products, and to expand into Internet commerce and international markets. http://www.courion.com/ _____________________________________________ o Performance Management Firm Wily Has $10 Million Round Two BURLINGAME, Calif. -- Wily Technology, a provider of performance management software for Java Web applications, said it raised $10 million in its second round of funding. Previous investors Greylock Management and BEA Systems participated along with new investor Accel Partners. The company will use the funds to expand its Web application management product portfolio, and for sales and marketing. http://www.wilytech.com/ _____________________________________________
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