Bear Stearns Merchant Banking is closing its San Francisco office, following the departure of sole staffer Bodil Arlander, according to LBO Wire. Arlander is a founding partner of BSMB. No future plans were reported. www.bsmb.com
BNY Mellon Wealth Management has named Ted Berenblum as head of alternative investments, a new position. he previously was with Citigroup as a managing director and head of ultra-high net worth investments. Read more
Horsley Bridge Partners has closed its ninth general fund-of-funds with just under $1.76 billion. Limited partners include the Indiana Public Employees' Retirement Fund and Railways Pension Trustee Co. Its prior general fund closed on around $1 billion in 2005.
Inside Contactless, a French maker of “contactless” payment chips and NFC technologies for mobile devices, expanded its Series C round to a total of nearly $42 million. Samsung Ventures America participated in the latest tranche, which followed a $38 million first close. Other round backers include Nokia Growth Partners, Sofinnova Partners, Vertex Management, Vertex Ventures, […]
Lithium Technologies, an Emeryville, Calif.-based provider of on-demand solutions for enterprise communities, has raised $12 million in Series B funding. Benchmark Capital led the round, and was joined by return backers Emergence Capital and Shasta Ventures. Lithium had previously raised $9 million in April 2007. PRESS RELEASE Lithium Technologies, market-leading provider of on-demand solutions […]
(Reuters) – Merrill Lynch & Co Inc (MER.N: Quote, Profile, Research, Stock Buzz) will be forced to raise equity in the third quarter and may sell 20 percent of its holdings in Bloomberg for $1 billion, Ladenburg Thalmann analyst Richard Bove said. This would bring in cash, allow the company to value the remaining position […]
(Reuters) – Investments by venture capital firms in new and innovative companies will be treated more favourably by the German tax authorities, according to a law passed in the Bundestag lower house of parliament on Friday. Following are the main points of the law, which is due to be signed off in the upper house, […]
KUWAIT, June 29 (Reuters) – Sovereign wealth fund Kuwait Investment Authority (KIA) said it focused on the long-term value of companies, not short-term fluctuations, when managing the Gulf Arab state's assets. KIA has come under fire from local media and some deputies in Kuwait's parliament for investing $5 billion in U.S. banks Citigroup (C.N: Quote, […]
Bayhill Therapeutics Inc., a Palo Alto, Calif.-based drug company focused on autoimmune diseases like multiple sclerosis, has withdrawn registration for an $86.25 million IPO, citing unfavorable market conditions. It had planned to trade on the Nasdaq, with Pacific Growth Equities and Lazard Capital Markets serving as co-lead underwriters. The company has raised $62.75 million […]
Kaltura Inc., a Brooklyn, N.Y.-based provider of an open-source video platform, has raised an undisclosed amount of Series B funding, peHUB has learned. 406 Ventures led the round, with managing director Maria Cirino taking a board seat and principal Greg Dracon serving as a board observer. Also participating pro rata was Alavon Ventures, which led Kaltura's $2.1 […]