Madrona Venture Group has closed its fourth venture fund, raising $250 million to continue investing in early-stage Northwest technology startups, The Seattle Times reported. The fund exceeded its target of $225 million. Existing institutional investors, including TheUniversity of Washington, participated in Madrona Venture Fund IV LP. Several new investors such as Cambridge and Oxford universities […]
PayMate India, a mobile payment company, has closed its second round of investment at $9 million led by Mayfield Fund and participation from existing investors, Kleiner Perkins Caufield & Byers and Sherpalo Ventures. Nikhil Khattau of Mayfield will join the board of PayMate. In July 2006, Sherpalo Ventures and Kleiner Perkins Caufield & Byers invested […]
ECO2 Plastics Inc., (OTCBB: ECOO), the recycling company based in San Francisco, has raised $6.5 million in new financing. The investment was led by Trident Capital and included a group of smaller investors led by Thompson Hutton LLC. In addition to the new capital, existing investors converted more than $6 million in short term notes […]
Yap Inc. has secured $6.5 million in Series A financing. The Charlotte, N.C.-based company said the funding was led by SunBridge Partners. The round also features participation by Harbert Venture Partners, Pittco Capital Partners, and existing individual investors. As part of the round, partners from SunBridge and Harbert are joining Yap's board of directors, with […]
5th Finger, a San Francisco-based mobile marketing company, has raised $7 million from the leading Australian venture capital firm, Starfish Ventures. 5th Finger will use the capital to fund its ongoing growth in the U.S. www.5thfinger.com
GIMV, a Brussels-based venture capital firm, and its Halder IV fund have sold five minority shareholdings to private equity fund BECAP. The transactions include GIMV's 10 percent stake in PVC window frame manufacturer Gaelan and its 32 percent in Wichard, which manufactures and distributes hardware for sailing boats and for the medical, automotive and aeronautic […]
Merrill Lynch & Co (MER.N: Quote, Profile, Research) may need to raise more capital, a move that would heavily dilute shareholders, said prominent Wall Street analyst, Meredith Whitney. Wall Street investment banks are likely to disclose their Tier 1 capital ratios — a measure of a bank's strength — for the first time when they […]
SenSage Inc., a San Francisco-based provider of security management solutions, has raised $15 million in fifth-round funding. FTVentures led the round, and was joined by Sand Hill Capital and return backers Sierra Ventures, Canaan Partners and Mitsui Ventures. The company has now raised around $45 million in total VC funding snce 2000. PRESS RELEASE Enterprise […]
Wesco Aircraft Hardware Corp., a portfolio company of The Carlyle Group, has agreed to acquire Airtechnics Inc., a Wichita, Kansas-based distributor of electrical components to the aerospace market. No financial terms were disclosed for the deal, which is expected to close later this month. Bank of America and Lehman Brothers are providing financing. PRESS RELEASE […]
Sally Choi has been named general manager for the Los Angeles City Employees Retirement System (LACERS). She is a former LACERS assistant GM, and currently serves as Los Angeles' deputy mayor for finance and performance management. Choi succeeds Robert Aguallo Jr., who left earlier this year to become a managing partner of infrastructure-focused private equity […]