Sunverge Energy Scores $15M in Series B Financing

A Stockton, California-based developer and manufacturer of distributed energy management systems Sunverge Energy, Inc. announced it has raised $15 million in series B financing round.

Sunverge Energy, Inc. a leading developer and manufacturer of distributed energy management systems, announced today the closing of a $15 million Series B financing round led by the Southern Cross Renewable Energy Fund and joined by the Venture Capital Unit of Siemens and Total Energy Ventures International. The investment will support immediate growth opportunities for Sunverge in key markets worldwide.

Sunverge was founded in 2009 with the vision of combining solar, storage, and smart controls to maximize value for both electricity consumers and providers. That vision led to the creation of the Sunverge Solar Integration System (SIS), a distributed energy storage solution which combines batteries, power electronics, and multiple energy inputs with software running locally and in the cloud. Sunverge currently has nearly 300 SIS units in operation at customer sites across the United States, Australia, New Zealand, Germany, and South Korea.

Source: MarketWatch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Stockton, California, Energy Management Systems, Sunverge Energy, Inc., Southern Cross Renewable Energy Fund, Siemens, Siemens Venture Capital, Total Energy Ventures International, Sunverge Solar Integration System, United States, Australia, New Zealand, Germany, South Korea.


BioCatch Completes a $10M Financing Round

A venture capital firm Blumberg Capital and equity crowdfunding firm OurCrowd led a $10 million financing round for BioCatch, the global leader in behavioral biometric authentication and threat detection.

Existing investors also participated in the funding round.

BioCatch proactively collects and analyses over 400 bio-behavioral, cognitive and physiological parameters to create unique user profiles for visitors to banking and eCommerce sites. BioCatch also significantly reduces friction associated with risky transactions, and then authenticates visitors upon their return to a site as well as identifies users exhibiting behaviors consistent with fraudsters. Enterprises use BioCatch as a tool to improve the employee authentication experience while protecting access to critical IT assets.

“BioCatch’s goal is to provide effective fraud protection, while improving user-experience for customers visiting banking and eCommerce sites,” said BioCatch CEO Benny Rosenbaum.

Source: Broadway World

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Blumberg Capital, Equity Crowdfunding, OurCrowd, BioCatch, eCommerce Site, Benny Rosenbaum.


NEA Leads $21M Funding Round for VeloCloud Networks

A pair of venture capital firms New Enterprise Associates (NEA) and Venrock, led a $21 million funding round for VeloCloud Networks, Inc., a pioneer in Cloud-Delivered WAN.

VeloCloud dramatically simplifies the WAN by delivering virtualized services from the cloud to branch offices and mobile users everywhere. The company provides services that deliver enterprise grade performance, visibility and control over both Internet and private networks, combining the economy of the Internet with the flexibility of the cloud.

Typically, enterprises have been locked into a rigid WAN architecture that delivers services piecemeal on hardware appliances over difficult-to-provision network connections. At the same time, businesses are experiencing an explosive growth of rich, bandwidth hungry applications, increasingly distributed and mobile employees and the growing migration of business critical apps to the cloud. This changing environment compounds the IT complexity in a rigid WAN architecture that is no longer able to meet the budget, performance or control needs of the enterprise.

Source: DigitalJournal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, New Enterprise Associates, NEA, Venrock, VeloCloud Networks, Inc., Cloud, WAN.


UK DaaS Provider Atlas Cloud Gets £350K

A Newcastle, UK-based IT services provider Atlas Cloud, announced it has raised the amount of £350,000 in venture capital funding, the round was led by Northstar Ventures and private investors.

Here at Spectrum Business Park we’re always thrilled to hear about growth in the region. BDaily, published a fantastic article on Friday 13th June regarding a Newcastle based IT services Outlet:

Newcastle-based IT services outfit Atlas Cloud has secured £350k investment from Northstar Ventures and private investors.

Following Bdaily’s recent coverage of the firm’s expansion plans, the investment will now support that strategy on a regional and national level.

The business, which is in its fourth year, designs, builds and manages tailored hosted desktop solutions that allow businesses to access systems remotely, offering flexible working and security.

Corporate finance expert Paul Wigham from Watson Burton acted for Atlas in successfully securing the investment. Funding was provided by Northstar Ventures’ Finance for Business North East Accelerator Fund and a number of high net worth individuals.

Source: Spectrum Business Park

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Newcastle, UK, Atlas Cloud, Northstar Ventures, Spectrum Business Park, BDaily, IT, Paul Wigham, Watson Burton.


BuzzFeed to Raise $200 Million

The news site known for its viral content BuzzFeed, is reportedly in the process of raising a financing round of about $200 million.

It’s unclear how far along talks are, nor is it clear who will lead the round, although existing investors NEA, Lerer Ventures, RRE Ventures, Hearst Ventures, and SV Angel may participate. When reached for comment, a BuzzFeed spokesperson provided VentureBeat with the following statement: “We don’t comment on rumors and speculation.”

According to VentureBeat’s source, the $200 million figure is seen as a median estimate; the round may fall above or below that line.

Buzzfeed’s last funding round back in January 2013 saw the company raise nearly $20 million at a rumored valuation of $200 million. Following its last round, Buzzfeed reportedly planned to expand its mobile and video products. To date, Buzzfeed has raised $46.3 million.

Source: VentureBeat

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, BuzzFeed, NEA, Lerer Ventures, RRE Ventures, Hearst Ventures, SV Angel, VentureBeat.


Phoenix Venture Partners Leads $6M Series A Funding for Imprint Energy, Inc.

Phoenix Venture Partners (PVP), a venture capital firm with extensive domain expertise in advanced materials entrepreneurship, has led a $6 million in series A funding for Imprint Energy, Inc., a leader in the development of thin, flexible, rechargeable batteries.

Phoenix Venture Partners led the investment and was joined by Flextronics Lab IX and AME Cloud Ventures. Proceeds will be used to accelerate development of Imprint Energy’s proprietary ZincPoly™ chemistry and secure initial product design wins in the Wearable Electronics and Internet of Things markets.

“Imprint Energy is pleased to welcome PVP to the growing Imprint Energy team. PVP’s successful track record of providing development and strategic assistance to materials-oriented start-ups, as well as its broad industrial end-user/partner network, make PVP a perfect fit for accelerating our efforts,” said Dr. Devin MacKenzie, Imprint Energy CEO.

“PVP sees Imprint Energy’s highly differentiated printable battery technology as a key enabling component to accelerating the growth and emergence of wearable electronics and the Internet of Things. We are delighted to join the Imprint Energy team and welcome the company to the PVP portfolio,” said Dr. John Chen of Phoenix Venture Partners, who along with fellow partner Dr. Nobi Kambe, will both join the Imprint Energy’s Board of Directors.

Source: PR Web

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Phoenix Venture Partners, PVP, Energy, Inc., Flextronics Lab IX, AME Cloud Ventures, ZincPoly, Wearable Electronics, Internet of Things, Dr. Devin MacKenzie, Imprint Energy, Dr. John Chen, partner Dr. Nobi Kambe.


Early-Stage Venture Capital Fund Sets Up Dolby Family Ventures

The Dolby, the early stage venture capital fund adds to the Dolby family’s existing technology venture portfolio, is pleased to announce the launch of Dolby Family Ventures.

Dolby Family Ventures is jointly managed by David Dolby, son of Ray Dolby, and veteran venture capitalist Pascal Levensohn. Based in San Francisco, Dolby Family Ventures funds international seed and Series A investments in four sectors: Digital Media, Cloud Services, Security, and HealthCare Technology and Services. Dolby Family Ventures anticipates making four to seven investments per year, with capital at risk of approximately $3 million per company. The fund is not affiliated with Dolby Laboratories, Inc.

“Our family is committed to honoring my father’s legacy by investing in the development of exceptional technologies that have the potential to generate significant social impact,” said David Dolby, Managing Director, Dolby Family Ventures. “Our direct investment approach focuses on highly defensible intellectual property, and our long time horizon provides ongoing support for entrepreneurs to build great companies.”

Source: MarketWatch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, The Dolby, Dolby Family Ventures, Dolby’s Family, David Dolby, Ray Dolby, Pascal Levensohn, San Francisco, Digital Media, Cloud Services, Security, HealthCare Technology and Services, Dolby Laboratories, Inc.


Andreessen Horowitz Leads a $44M Funding Round for Instacart

Andreessen Horowitz, a $4 billion venture capital firm, has led a $44 million funding round for Instacart, a two-year-old grocery delivery company.

Three venture capital firms that previously invested in the company, Sequoia Capital, Khosla Ventures and Canaan Partners, participated in the latest round.

The company, which is based in San Francisco, lets customers shop online from grocery stores in their area. The orders are filled by other people who have signed up to be shoppers and who receive a cut of the delivery fees. Information about a store’s inventory comes from store managers and from the shoppers. The company says it can have groceries delivered within an hour.

Jeff Jordan, a partner at Andreessen Horowitz, said he was attracted to Instacart because it was a “people marketplace.”

Source: New York Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Andreessen Horowitz, Instacart, Grocery Delivery Company, Sequoia Capital, Khosla Ventures, Canaan Partners, San Francisco, Jeff Jordan.


IndoorAtlas Ltd. Scores $4.5M in Venture Capital Funding

IndoorAtlas Ltd., the world‘s first company to utilize magnetic anomalies inside buildings and smartphones to pinpoint indoor locations, scored the amount of $4.5 million in funding from US venture capitalist Mobility Ventures and Finnish seed funder KoppiCatch.

Valuation is undisclosed, in part because investors are still interested, according to KoppiCatch co-founder and IndoorAtlas Executive Chairwoman Inka Mero. The two-year-old company has turned away acquisition offers and may raise another larger funding round in the near future.

“I’ve had my share of the highs and lows of startups, and I know this is a rare luxury, when the bigger companies call you,” Ms. Mero said.

IndoorAtlas, which has offices in Finland and Mountain View, Calif., spun out of the University of Oulu in Finland in 2012 with software that enables the compass in a smart phone to pinpoint a person’s indoor location by exploiting variations caused by buildings in the Earth’s magnetic fields.

An early version of the product, whose technology is patented, is available on both iPhones and Android devices, and IndoorAtlas is testing it with a large U.S.-based retailer that the startup declined to name.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, IndoorAtlas Ltd., Smartphone, US, US Venture Capitalist, Mobility Ventures, Finland, Finish Seed Funding, KoppiCatch, Inka Mero, Mountain View, California, University of Oulu, Software, iPhones, Android.


Bull City Venture Partners Beats Fundraising Target

Bull City Venture Partners, a Durham, North Carolina-based venture capital fund, announced it has exceeded its fundraising target by $1 million with the mark of $26 million from investors that it will plow into the next generation of technology startups.

Despite a difficult climate for raising money from institutional investors, wealthy individuals and businesses, the Durham-based venture capital fund exceeded its target by nearly $1 million. Its investors include Red Hat, Cisco, Capitol Broadcasting, NC Innovation Fund and Blue Cross and Blue Shield of North Carolina.

“It’s a very challenging environment,” said Jason Caplain, general partner and co-founder of Bull City. “I think it’s great for venture capitalists to have to go out and do this, because it keeps us all humble because we are out raising capital like everyone else.”

Source: News & Observer

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Bull City Venture Partners, Durham Venture Capital, North Carolina Venture Capital, Technology Startup, Startup, Red Hat, Cisco, Capitol Broadcasting, NC Innovation Fund and Blue Cross, Blue Shield of North Carolina, Jason Caplain.


Move Loot Gets $2.8M in Seed Funding Round

Move Loot, the easiest way to buy and sell used furniture online, is pleased to announce the raise of $2.8 million in seed funding round led by First Round Capital and Index Ventures.

The San Francisco start-up says other participants include Google Ventures, SV Angel and Y Combinator.

Move Loot says it will use the funds for geographic expansion and supply chain enhancements to improve the customer experience. Bill Bobbitt, co-founder and CEO of Move Loot, says Move Loot plans to expand to at least two additional cities by the end of 2014.

“We recently moved to a new warehouse that’s six times the size of our original unit because we were so capacity constrained,” says Bobbitt. “There is no shortage of people looking for an easy and affordable furniture solution,” said Bobbitt.

Move Loot says it hopes to change how people furnish homes and offices with its technology platform and warehousing solution to make it more convenient and less expensive to buy used furniture over new. The founders say they also hope to reduce the amount of used furniture that goes into landfills each year: 10.8 million tons.

Source: WoodworkingNetwork

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Move Loot, Furniture Online, First Round Capital, Index Ventures, San Francisco, San Francisco Startup, Startup, Google Ventures, SV Angel, Y Combinator, Bill Bobbitt.


Freshdesk Scores $31M Series D Funding

In a new round of funding led by existing investors such as Tiger Global and Accel Partners, Indian online customer support platform Freshdesk has raised $31 million.

Freshdesk, based in southern city of Chennai, was founded in October 2010, and provides a cloud-based customer support platform to companies. The start-up competes with the likes of U.S.-based Zendesk Inc, which went public in May.

Venture capital funding has long been a missing link for budding tech start-ups in India, but with the rising use of internet and cloud based services, Indian start-ups are finding it increasingly easy to service clients across the world.

“The world is truly flat now, so it does not matter the company is based. Freshdesk has a good product, which makes it a good investment for us,” said Shekhar Kirani, partner at Accel Partners.

Freshdesk is planning an initial public offering in 2017, Girish Mathrubootham, chief executive and co-founder of Freshdesk told Reuters in a telephone interview.

Source: Reuters

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Tiger Global, Accel Partners, India, Online Customer Support Platform, Freshdesk, Chennai, Startup, US, based Zendesk Inc, Indian Startup, Shekhar Kirani, Girish Mathrubootham.


Osprey Capital’s Investment in CAERUS Capital

A venture capital firm Osprey Capital Limited has re-financed CAERUS Capital, generating a return of 1.7x capital for investors to date.

Osprey retains a diluted minority holding.

The investment in CAERUS Capital Group, a specialist fund management and advice firm for advisers and consumers, was made in 2009. During this time the company has grown with more than GBP650 million now invested on behalf of clients.

Ronan Kearney, chairman of Osprey Capital Limited, who stepped down from the board of CAERUS Capital in November last year, says: “CAERUS Capital Group has been an excellent investment for Osprey Capital, having shown good growth over the past four years. I have especially enjoyed my time with CAERUS and have learnt a huge amount from working with Keith and the team in a fast growing company. I look forward to collaborating on other projects with them in the future.

“Of course, additionally, delivering such a return is also welcome on my second investment but more importantly than that it is further evidence it provides for our unique model. Osprey exited its first investment Allium Capital in February 2013, delivering a return of 11.9 x capital for investors. This is undoubtedly the way venture capital should be done and how Osprey will continue to operate.”

Source: Private Equity Wire

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Osprey Capital, CAERUS Capital, CAERUS Capital Group, Ronan Kearney, Osprey Capital Limited, Allium Capital.


Max Levchin Raises $45M for Startup Affirm from Venture Capital Firms

Max Levchin, a serial entrepreneur who co-founded payments company PayPal and game maker Slide, has raised $45 million from venture capital firms including Khosla Ventures, Lightspeed Venture Partners and Nyca Partners.

But perhaps the most promising thing going for Affirm is the pedigree of its new CEO. After selling Slide to Google for $182 million in 2010, Levchin left the Internet giant to set up his incubator, HVF, with the intention to start as many as 10 companies and then eventually commit himself to the most promising. Affirm is one of just two startups to come out of HVF so far, along with fertility-monitoring software maker Glow.

Levchin said he decided to make Affirm his full-time job earlier this year after seeing the service gain traction in early testing and realizing the company’s potential impact.

“There’s a short list of things that really make the world go ’round,” he said. “Finance is one of them.”

E-commerce sites including makeup boutique Beautylish, electric-bicycle seller Faraday and online consignment shop Twice have started using Affirm to offer customers instant lines of credit for purchasing items on their sites.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Max Levchin, Payments Company, PayPal, Game Maker, Slide, Khosla Ventures, Lightspeed Venture Partners, Nyca Partners, Google, Glow, Beautylish.


New Mexico State Investment Council Pumps Extra Capital into Epic Ventures

The New Mexico State Investment Council announced it has agreed to pump more capital into EPIC Ventures, a premier early stage software and Internet infrastructure venture firm.

A bit more early-stage venture capital soon will be available for New Mexico startups thanks to a new State Investment Council commitment of up to $10 million for Epic Ventures’ newest fund.

Utah-headquartered Epic, which operates a local office in New Mexico, is raising its fifth fund with an initial target of $75 million. The SIC approved an investment of up to $10 million, or a maximum of 10 percent of the final value of the fund, at the end of May.

The SIC money comes from the state’s private equity program, through which the council can invest up to 9 percent of the Severance Tax Permanent Fund in venture activity in New Mexico. That includes direct investments in local startup companies through a Co-Investment Fund managed for the SIC by Sun Mountain Capital, plus investments of up to $20 million in independent venture funds managed by firms like Epic.

Source: Albuquerque Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, New Mexico State Investment Council, EPIC Ventures, New Mexico, New Mexico Startup, Severance Tax Permanent Fund, SIC, Sun Mountain Capital.


Pair of Sacramento VC Funds Investing in Local Area

Sacramento area will receive investment from a pair of local venture capital funds, according to venture capital funds announcement.

The Folsom-based Moneta Ventures recently secured $19.3 million to invest in early-stage technology companies, while Roseville’sDCA Capital Partners is looking to invest in the neighborhood of $25 million in larger business needing an influx of cash in order to grow.

That the two venture capital firms are looking to invest locally is a positive sign for the region, said Meg Arnold, chief executive officer of the Sacramento Area Regional Technology Alliance.

“A locally based fund is a good thing for the companies here,” she said.

Prior to the recession, the Sacramento region had a relatively healthy amount of venture capital firms investing in local companies, but the economic downturn took a bite out of venture capitalism locally, Arnold said.

Source: HispanicBusiness

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Sacramento, Sacramento Venture Capital, Folsom, Moneta Ventures, Roseville, DCA Capital Partners, Meg Arnold, Sacramento Area Regional Technology Alliance.


Comvest Partners Leads $16M Funding Round for Egenera

With $1.2 billion of assets under management, Comvest Partners has led a $16 million funding round for Egenera, a leader in converged infrastructure and cloud management software.

The funds will be used to further product innovation and aggressively drive its go-to-market strategy.

‘With cloud transforming businesses of all kinds, our technology puts us at a strong competitive advantage which is what made us such an interesting investment prospect,’ said Pete Manca, CEO of Egenera. ‘The new funding will help fuel our sales and marketing efforts, enabling more companies to transform the way they manage their cloud infrastructures and virtual data centers.’

‘Egenera’s technology is unique within the cloud management space putting them in a position to take a significant share of the market,’ said Dan Lee, managing director of Comvest Partners. ‘We are excited to invest in the future growth of this company, and feel they have the proven executive team and technology for success.’

Source: VC News Daily

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Comvest Partners, Egenera, Converged Infrastructure, Cloud Management Software, Pete Manca, Dan Lee.


Sequoia Capital Gets $530M for India-Focused Fund

Sequoia Capital, an American venture capital firm located in Menlo Park, California, is pleased to announce that it has raised $530 million for its fourth India-focused fund, bringing its total financial investment in India to around $2 billion.

Speaking to the Times of India, Sequoia Capital’s India head, Abhay Pandey, said that the size of each investment will range from anywhere between $100,000, to as high as $50 million.

Sequoia Capital is already making good on that promise. Earlier this week, its India branch announced a $15 million (Rs. 90 crore) investment into New Delhi-based Octro, a start-up that specializes in mobile games. With India’s mobile sector booming over the last few years, the time is ripe for Sequoia Capital to invest in it. In fact, several international IT companies have been scooping up Indian tech start-ups in the last year.

Sequoia Capital is known for picking winners, and has been an investor in some of the biggest tech start-ups of the past decade. Names that Sequoia Capital has attached itself to include Instagram, PayPal, Meebo, and WhatsApp, which recently was acquired by Facebook for a staggering $19 billion.

Source: The American Bazaar

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Sequoia Capital, US Venture Capital, Menlo Park, California, India, Times of India, Abhay Pandey, New Delhi, Octro, Startup, Tech Startup, Instagram, PayPal, Meebo, WhatsApp, Facebook.


VC-Backed Dragonplay Bought by Bally Technologies

DragonPlay Ltd., the Israeli social casino business, has been acquired by Bally Technologies Inc., for up to $100 million, the gaming company was sold from its venture capital backers.

Bally Technologies’ Chief Executive Officer Richard Haddrill.

Launched in 2010, Dragonplay ranks among the 10 top-grossing game developers in the social casino genre with approximately 700,000 daily active users (“DAU”) and nearly three million MAU across all platforms. In the “Card” category on Google Play, Dragonplay’s poker game Live Hold’em Pro is ranked number one in the top-grossing category.(1) In the “Casino” category on Google Play, Dragonplay Slots is a top 10 performer in terms of active users.

“With over three years of topping various performance charts on Google Play, Dragonplay has successfully and consistently demonstrated its ability to acquire, monetize and retain social gamers by creating compelling games with staying power in the social casino space,” said Bally’s Chief Executive Officer Richard Haddrill. “We expect this strategic acquisition to help position Bally at the forefront of social casino gaming by leveraging our world-class content, including proprietary table games and award-winning video slots, on Dragonplay’s increasingly popular social casino. Additionally, with the majority of its revenues generated from smartphones and tablets, Dragonplay has proven remarkable foresight and leadership in the mobile space, which is the fastest growing segment of social gaming.”

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, DragonPlay Ltd., Israel, Social Casino Business, Bally Technologies Inc., Richard Haddrill, Google Play, Live Hold’em Pro, Mobile Space.


Bitcoin Attracts 30% more in Venture Capital Investment YTD

Bitcoin, a peer-to-peer payment system introduced as open-source software in 2009, attracted over than 30 percent in venture capital investment year-to-date from 2013.

The steady rise has been assisted by growing confidence in responsible venture capitalist investors known for sound business practices and more secure approaches to wallet off-line holding of bitcoin, according to CNBC.

Coin Desk reports today that March through May of this year five venture capital funding rounds accounted for $97million of total venture capital invested, or 84 percent. The firms who led these rounds of receiving funding are:

OK Coin (Exchange) $10 million, Bit Fury (Mining) $20 million, Bit Pay (Payment Processor) $30 million, Circle Internet Financial (Universal Financial) $17 million and Xapo (Wallet) $20 million.

Investments made to date according to Coin Desk calculates that $172 million of all venture funding has gone to US companies for 75 percent of the total of all venture funding.

Source: Examiner

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Bitcoin, Peer-to-Peer Payment System, CNBC, Coin Desk, OK Coin, Bit Fury, Bit Pay, Circle Internet Financial, Xapo, US Companies.


Capital Today Raises $400M “Evergreen” Fund

Capital Today, a private equity and venture capital firm specializing in growth capital and mid-size companies, is planning to raise a $400 million “evergreen” fund, according to a term sheet seen by Reuters.

The fund’s long-term structure is typically shunned by private-equity investors, because the global industry is built around investing, and getting returns, over much shorter periods.

Capital Today founder and former Baring Private Equity senior executive Kathy Xu declined to comment on the new fund, citing legal restrictions in an emailed response to Reuters questions.

Private equity firms traditionally make investments using 10-year funds, and sell them after three to five years. Any gains made are returned to investors in the fund.

But Internet companies such as Alibaba Group Holding Ltd, Baidu Inc and Tencent Holdings Ltd continued to grow strongly long after private equity firms sold their stakes.

Source: Reuters

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Capital Today, Venture Capital, Venture Capital Firm, Growth Capital, Baring Private Equity, Kathy Xu, Alibaba Group Holding Ltd, Baidu Inc, Tencent Holdings Ltd.


IDG Capital Closes Fourth Fund at $586M

IDG Capital Partners, venture capital firm backed by billionaire venture capitalist Jim Breyer, announced it has closed a $586 million new venture fund focused on making early stage technology, media and telecom investments in China.

At the same time, it beat its target of $550 million as limited partners choose to back some of China’s more seasoned fund managers.

IDG’s investment hits include popular Chinese technology companies: Internet giants Baidu Inc., Tencent Holdings and online travel company C-trip Ltd. IDG Founding Partner Hugo Shong said the Beijing-based firm will stick to doing what it does best, with plans to invest the lions-share of the new fund into Chinese startups in the technology, media and telecommunications sectors.

Global investors are turning to the safety of managers like IDG, which have a longer investment and distribution track record, following a recent wave of slower returns from other China-focused firms. Last year, some venture firms struggled to achieve returns amid lackluster deal-flow and exits as initial public offerings slowed.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, IDG Capital Partners, Jim Breyer, China, Internet, Baidu Inc., Tencent Holdings, C-trip Ltd., Hugo Shong, Beijing, Chinese Startup.


Allocadia Raises $7M in Series A Funding Round

Altos Ventures and iNovia led a $7 million series A funding round for the Vancouver-based startup Allocadia Software Inc.

The idea of founding a company with a sibling would give most people pause as they question whether business and family could mix in a way that would deliver success.

Sisters Kristine Steuart and Katherine Berry appear to be striking that balance after announcing June 5 their Vancouver-based startup Allocadia Software Inc. has raised an additional $7 million in venture capital funding.

“It’s definitely exciting,” said CEO Steuart, who launched the company four years ago with chief product officer — and identical twin — Berry.

“As an entrepreneur, I think you always look to the next phase and the next step, and as a company we’re absolutely already thinking about, ‘How do you we put this to work?’”

The CEO said Allocadia plans to double in size within the next year and much of the funding is going toward sales, marketing and product development.

Source: Business in Vancouver

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Altos Ventures, iNovia, Vancouver, Startup, Allocadia, Allocadia Software Inc., Kristine Steuart, Katherine Berry.


ATRP Solutions Scores $3.55M in Venture Capital

Birchmere Ventures, Strip District-based venture capital firm, has led a $3.55 million funding round for ATRP Solutions, a specialty polymer company which designs and delivers polymers tailored to improve product performance.

Patrick McCarthy, CEO and co-founder, said the money will go toward commercialization and at least two hires. The company currently employs five.

“We invented a new hydraulic fracturing fluid technology that will improve the environmental impact and improve oil and gas production from wells,” McCarthy said.

He believes the product has potential throughout Marcellus, Utica and other shale plays across the country.

“This is a really interesting company based on technology that lets them manufacturer polymers to spec,” said Sean Sebastian, Birchmere partner. “They’re looking at materials that should make the fracking process consume less water and be much more environmentally friendly.”

ATRP launched in 2006 with technology leased from Carnegie Mellon University. McCarthy, 43, previously worked at Dionex Corp. in Silicon Valley. It has received funding from Innovation Works and the Pittsburgh Life Sciences Greenhouse, McCarthy said. Birchmere is also a prior investor.

Source: Pittsburgh Business Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Birchmere Ventures, Strip District Venture Capital, ATRP Solutions, Polymer Company, Patrick McCarthy, Marcellus, Utica, Sean Sebastian, Carnegie Mellon University, Dionex Corp., Silicon Valley, Pittsburgh Life Sciences Greenhouse.


Kobalt Music Group Gets $140M in Funding

The leading independent music publisher and music services company Kobalt Music Group, has banked $140 million in new funding from Balderton Capital and MSD Capital.

“Not making public” is the operative phrase here: New York-based, UK-registered Kobalt has kept a relatively low profile since first opening for business in 2001. That means there has been little disclosure of just how much money it had raised in that time. In actual fact, the total figure is $250 million, according to Willard Ahdritz, the Swedish CEO and founder of the company.

(While he will not say what Kobalt’s current valuation is, I’m guessing that it is now north of the $250 million valuation the company had when it announced the investment from MSD. The company is not disclosing current revenues but in fiscal 2013 sales were $175 million, up 40% on the year before, with losses growing 30% to $7.4 million.)

The low profile has also translated into relatively little fanfare about what the company has been doing up to now.

Source: TechCrunch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Independent Music Publisher, Music, Kobalt Music Group, Balderton Capital, MSD Capital, New York, UK, Willard Ahdritz, Sweden.


Nishkaam Mehta, Sanjay Jain Join GSF Accelerator

Nishkaam Mehta, Sanjay Jain were appointed by GSF Accelerator, a startup accelerator programme launched by former Reliance Entertainment president and GSF Superangels founder Rajesh Sawhney, as new venture partners.

These include technology and digital media investor Nishkaam Mehta and former president and chief marketing officer at Reliance Capital Sanjay Jain.

“To strengthen the investment and mentoring capacity of GSF platform, we have begun an exercise to deepen our human capital. At GSF, a ‘venture partner’ is either an accomplished startup founder; a seasoned executive with deep domain expertise; or an investor with networks in global geographies relevant to GSF portfolio companies,” said Sawhney.

“A venture partner will help GSF diligence deals during the selection of cohort every six months and take on board responsibilities in some of the portfolio companies,” he added.

Source: VC Circle

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Nishkaam Mehta, Sanjay Jain, GSF Accelerator, Startup Accelerator Programme, Reliance Entertainment, GSF Superangels, Rajesh Sawhney, Nishkaam Mehta, Reliance Capital Sanjay Jain.


Elasticsearch Raises $70M in Series C Round of Venture Capital

New Enterprise Associates, a global venture capital firm, has led a $70 million series C funding round for Elasticsearch, the company behind the popular open source search engine.

Existing investors Benchmark Capital and Index Ventures also participated. The company has now raised $104 million since launching in early 2012.

That’s a significant amount of money for such a young company, and an open source one at that, but it goes to show that users can matter in enterprise IT just as much as they do in the consumer world. When we profiled Elasticsearch in January, the open source project for quickly indexing and searching JSON files — which also includes a log-management tool called Logstash and a visualization tool called Kibana — had surpassed 6 million downloads and the company had just launched its first commercial product, a monitoring tool called Marvel.

Source: GigaOM

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, New Enterprise Associates, NEA, Elasticsearch, Benchmark Capital, Index Ventures, JSON files, Logstash, Kibana, Marvel.


BrightFarms Banks $2.4M in Series B Venture Capital

Agriculture technology company BrightFarms, which builds greenhouses in urban areas, raised $2.4 million in its second round of institutional venture capital funding.

The tranche was led by WP Global Partners LLC, a private equity firm with over $2 billion in assets under management. The financing, which also includes participation by investors NGEN Partners, Emil Capital Partners, BrightFarms founder Ted Caplow, and several other prominent investors, coincides with BrightFarms’ announcement that Gregory S. Oberholtzer, senior managing director at WP Global, has joined BrightFarms’ board.

BrightFarms has emerged as the leading urban agriculture company, with more than $100 million in backlogged projects, close to $20 million in capital raised to date, and its first 1.3 acre prototype farm successfully operating and selling under the industry’s first Produce Purchase Agreements.

Source: Citybizlist

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Agriculture Technology Company, BrightFarms, WP Global Partners LLC, NGEN Partners, Emil Capital Partners, Ted Caplow, Gregory S. Oberholtzer.


True Ventures Ends Fourth Fund at $290M

A Silicon Valley-based venture capital firm that invests in early-stage technology startups True Ventures, announced it has raised $290 million for its fourth venture fund, its founders told Venture Capital Dispatch.

The early-stage firm, which said it set out to raise $225 million for True Ventures IV LP, saw strong support from its limited partners, a reflection of its reputation and an improving fundraising climate for venture capital. True’s prior pool, raised in 2011, was $226 million.

“I believe that there is more interest in venture capital,” Phil Black, a founder of the Palo Alto, Calif., firm, said. Venture capital returns data, which for years showed subpar results, now show that venture can be a good business under the right market conditions and the right managers, he said.

The latest Cambridge Associates data show continued improvement in venture capital performance, with 10-year returns as of the end of 2013 hitting 9.7%, beating out several public-market benchmarks.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Silicon Valley Venture Capital, Silicon Valley, Early-Stage Technology Startups, True Ventures, Venture Capital Dispatch, True Ventures IV LP, Phil Black, Palo Alto, California.


NJ’s Venture Capital Firm Moves to Grand Central Area

Apple Tree Life Sciences, a Princeton, NJ-based venture capital firm that invests in pharmaceuticals, biotech, medtech, and healthcare services, is moving to Grand Central Terminal area.

Apple Tree has signed a 10-year lease for 14,169 square feet of office space on the 22,000-square-foot 28th floor of the Monday Properties and Invesco-owned building between 45th and 46th Streets. The firm is slated to move in in the fourth quarter.

“I believe our new tenant will be absolutely thrilled with their unobstructed view up Park Avenue, having the entire northern exposure on the 28th floor,” said Anthony Westreich, the Chief Executive Officer of Monday Properties, in a prepared statement.

The asking rent was in the low $80s per foot. As part of the deal, Monday Properties will build out Apple Tree’s space. Spector Group is the design architect for Apple Tree, responsible for the design, project management and furniture selection for the project. The firm is coordinating with Gensler, the architect of record for Monday Properties.

Source: Commercial Observer

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Apple Tree Life Sciences, Princeton, NJ, New Jersey, Pharmaceuticals, Biotech, Medtech, Healthcare Services, Grand Central Terminal, Park Avenue, Anthony Westreich, Monday Properties.


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