Jonathan Marino
SustainX, the New Hampshire-based energy storage company, took on an additional $5.6 million in funding, less than two months after striking a $14.4 million funding with a group of investors. This time, General Catalyst and prior investors chipped in on its funding. Other investors include GE Energy Financial Services, a unit of GE, Cadent Energy Partners, Polaris Ventures, Rockport Capital, Small Business Innovation Research program of the National Science Foundation and the Energy Storage Program of the US Department of Energy.
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Ted Forstmann has been treated for a malignant brain tumor and is recovering, according to a report. Fox Business News reported earlier today that Forstmann, 71, has already undergone brain surgery to remove the tumor and that he’s returned to the private equity firm that he founded, Forstmann Little & Co. Forstmann is also CEO and chairman of IMG, the talent agency that counts golf titan Tiger Woods among its star-studded client roster....
Bain Capital Partners and a subsidiary of Oaktree Capital Management teamed together to invest $1 billion in International Market Centers, with the intent of developing the showrooms assets. International Market Centers has locations in North Carolina and Las Vegas. Phil Loughlin, managing director, worked on the deal from Bain Capital. Kirkland & Ellis is counsel for Bain Capital, Paul Weiss is acting as legal advisor to the Oaktree entities, and Paul Hastings represents related companies.
An anonymous investor led a financing round in San Diego-based neurotechnology company NeuroVigil. The company was founded by Dr. Philip Low. According to its site, NeuroVigil is dedicated to the betterment of the human condition by merging non-invasive wireless brain recording technology with advanced computational analysis techniques.
OncoHealth Corp., the developer of HPV diagnostics and treatments, raised $1.6 million in what it called an oversubscribed round from investors including Band of Angels, Emergent Medical Partners, Halo Fund, Tech Coast Angels, The Angels Forum, and Wilmington Investor Network. Sand Hill Angels and Life Science Angels anchored the round.
Want that Old Thing Back: Old friends are the best networking contacts China, China, China: PE’s honchos powwow in the Hills He Beat Zuck to it: Joe Chen, CEO of RenRen, will take his social network public How We Got Him: U.S. intel passes attaboys around after nabbing the high value target
Battery Ventures led a group of investors that put $3 million in Series A funding into Send the Trend, an e-commerce company. Founder Collective participated in the round as well. Send the Trend has been operating since October 2010.
KPS Capital Partners’ HHI Group Holdings LLC, maker of forged automotive parts, will enter into a joint venture with Zhejiang 8+1 Precision Machinery Co. and C&U Americas, LLC to form Mapleland Precision Forge Co. Ltd. HHI Group, formerly named Hephaestus Holdings, has completed numerous deals and recaps since KPS’ initial investment.
Late stage venture capital firms had a pretty good 2010, according the to Thomson Reuters U.S. Private Equity Performance Index—VC shops investing in late-stage companies enjoyed average returns of more than 35% over a 12-month span, according to data. VCs like Elevation Partners, Goldman Sachs and Digital Sky Technologies—to say nothing of secondary market venture capital stake buyers, far greater in number—which spent the last year plowing cash into the meteoric ascent Facebook were rewarded...