Cambridge Enterprise Leads $2.28M Series A Funding for DefiniGEN

Cambridge Enterprise and 24 Haymarket led a $2.28 million in series A funding for DefiniGEN, a provider of stem cell life science products and services.

Other new investors in the business through the round include Wren Capital and Ranworth Capital, with the money earmarked for supporting the international expansion of the business and commercial launch of new products.

The company focuses on serving the growing need in the pharmaceutical industry for more accurate predictions of efficacy and toxicity in drug candidates ahead of clinical trials.

24 Haymarket lead investor Marek Gumienny, who was formerly Chairman of Candover Partners, said, “DefiniGEN is a dynamic innovative company with a business model that can harness the huge potential of stem cell technology.

“Stem cells have the power to revolutionise healthcare, radically improve the efficiency and economics of drug development and enable personalised regenerative medicine to become a reality.”

Source: AltAssets

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Cambridge Enterprise, 24 Haymarket, DefiniGEN, Marek Gumienny, Candover Partners, Healthcare.


Andreessen Horowitz Boosts Its investment in Zenefits

Andreessen Horowitz, a $4 billion venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz, boosted its investment in Zenefits, a human resources software company, few months after investing in the software company.

Zenefits, which delivers its software to businesses over the cloud, has raised a $66.5 million financing round led by Andreessen Horowitz, with participation from another venture capital firm, Institutional Venture Partners, the company announced on Tuesday.

The Zenefits software – which is free for its customers – helps companies manage compliance and human resources-related tasks. Zenefits makes money by acting as an insurance broker, selling health insurance plans to businesses.

For Andreessen Horowitz, which led the company’s previous $15 million financing round in January, such a pair of back-to-back deals is a rare move, amounting to a big bet by the venture capital firm.

“There’s no situation like this right now that anybody knows of,” said Lars Dalgaard, an Andreessen Horowitz partner. “We think it’s the fastest-growing cloud company ever.”

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, Marc Andreessen, Ben Horowitz. Zenefits, Human Resources Software Company, Institutional Venture Partners, Lars Dalgaard.


Rocket Internet Boosts Online Cleaning Startup Helpling

Rocket Internet, a Berlin-based venture capital firm, is increasing its latest startup Helpling, an online platform for booking professional cleaners, to countries like France, Sweden, the Netherlands and Austria, according to company’s announcement.

Helpling, which only launched in Germany in April, allows users to book a licensed cleaner online in 60 seconds, taking a 20 percent commission of the 12.90 euros ($17.60) per hour it charges for the service.

Berlin-based Rocket Internet, backed by Swedish investor Kinnevik, was founded in 2007 by the German Samwer brothers Oliver, Marc and Alexander, who have gained a reputation for cloning online businesses in new markets.

Online cleaning booking services are already well established in the United States and Britain, including firms like Homejoy, Handybook, Hassle and Mopp, but have yet to take off in most of continental Europe.

Helpling co-founder Benedikt Franke sees big potential for the business as it takes care of the administrative hassle of invoicing and payment, and provides insurance and customer service, giving it a big advantage over black market cleaning.

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, Rocket Internet, Germany, Germany Venture Capital, Helpling, Online Cleaning Startup, France, Sweden, the Netherlands, Austria, Berlin, Kinnevik, German Samwer Brothers, United States, Britain, Homejoy, Handybook, Hassle, Mopp, Europe, Benedikt Franke.


Pathbrite Receives $3.7M in New Funding

An online-education company that makes software for multimedia e-portfolios Pathbrite Inc., has raised $3.7 million in new funding led by Cengage Learning.

And now the company has raised a new $3.7 million in capital from Cengage Learning, a Boston-based company that provides educational content, services, and technology.

“In the simplest form, it’s like a really sexy digital resume,” explained Pathbrite spokesperson Deborah Veney. “Until now, a degree and the name of a person’s college have basically served as a proxy for what a person knows and what they can do. Employers are increasingly finding this is not working out so well for them.”

Instead, colleges may purchase a site license for Pathbrite, giving teachers a tool that they can use to map out “learning paths” for students, showing the skills they need to master in order to reach particular goals. As the students complete those goals, their portfolio gets updated, so potential employers can see exactly what they’ve learned.

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, Online-Education Company, Pathbrite Inc., Cengage Learning, Boston, Deborah Veney.


Formisimo Secures £350k in Equity Funding

Formisimo has raised the amount of £350,000 in equity funding from a syndicate led by The North West Fund for Digital & Creative and including two London-based angels and leading accelerator.

The new capital will be used to enable the company to relocate to the UK city Manchester, after its acceleration stint in London, and to grow the team to a headcount of around 14 in the next 12 months. The young startup has also appointed Anish Kapoor, the co-founder of Telecity, as its first Manchester-based adviser.

Formisimo is tackling the problem of web forms/online checkouts that go unfilled because of factors, such as confusingly worded questions, layout or formatting errors, and rogue auto-filling wreaking havoc with the user’s intentions. It offers cloud-based web analytics specifically targeted at improving the performance of forms so e-commerce companies can identify where their users are going wrong.

In our profile of the startup back in January, Formisimo’s founder Al Mackin described web forms as “the forgotten part of almost every conversion funnel,” and argued they further suffer because the responsibility for forms often falls between the marketing department and the web development team — with neither taking ownership.

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, Formisimo, The North West Fund for Digital & Creative, London, London Angel, Angel Investor, UK, Manchester, Anish Kapoor, Telecity, Al Mackin.


Fenox Venture Capital Welcomes Former Sony CEO

Fenox Venture Capital, Inc., a Silicon Valley-based venture capital firm founded in 2012 with teams in global locations, is pleased to announce the addition of Nobuyuki Idei, former chairman and group CEO of electronics giant Sony, as board advisor.

Mr. Idei is currently the founder and CEO of Quantum Leaps Corporation (Quantum), a consultancy in Tokyo nurturing the next generation of global leaders who are set to secure a bright and prosperous future for Japan. This new relationship between Fenox Venture Capital and Mr. Idei’s Quantum Leaps Corporation will bring their respective services for global clients to new heights.

Fenox VC is a Silicon Valley-based global venture capital firm investing in Internet, mobile, social, cloud and emerging technologies. Fenox has been rapidly expanding its operation in Japan and Asia, with 6 investments into Japanese startups to date.

Aside from investing into startups, Fenox has been providing large Japanese corporations with insights into the technological trends in Silicon Valley, so as to enter joint ventures with the hottest startups, and secure exclusive licensing of their products and technology in Japan and Asia. Through Fenox VC’s presence in Singapore and Indonesia, Japanese corporations are also granted access to the lucrative emerging market opportunities in Southeast Asia.

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, Fenox Venture Capital, Inc., Silicon Valley, Silicon Valley Venture Capital, Nobuyuki Idei, Sony, Quantum, Quantum Leaps Corporation, Tokyo, Japan, Internet, Mobile, Social, Cloud, Emerging Technologies, Asia, Startup, Singapore, Indonesia, Southeast Asia.


GLAAD Adds Meghan McCain to Its National Board of Directors

Meghan McCain, Republican political commentator, author, TV host and daughter of Senator John McCain, has been appointed by GLAAD to join its national board of directors.

As the daughter of U.S. Senator John McCain, Meghan McCain was propelled into the national spotlight at an early age, involved in everything from community events to national conventions. A powerful role model for young women and Republicans alike, she passionately discusses women’s issues, social issues, and marriage equality, among other LGBT issues. In 2013, McCain launched her genre-busting docu-talk series ’Raising McCain’ on Pivot, Participant Media’s new television network aimed at the Millennial generation. Most recently, Meghan has signed on to co-host the late night news program ’TakePart Live’ on Pivot-a nightly live show that decodes the news stories of the day with irreverence and insight, and points viewers to related actions.

“Equality is no longer a partisan issue,” said GLAAD President & CEO Sarah Kate Ellis. “For years, Meghan McCain has lent her voice and platform to spreading messages of acceptance across party lines. Now, as the American south and our heartland move closer to LGBT equality, it’s critical that we continue to build the bridges that unite us in our common ground – whether you’re republican or democrat, gay or straight.”

Source: EDGEOnTheNet

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Meghan McCain, TV Host, John McCain, GLAAD, LGBT, Raising McCain, Sarah Kate Ellis.


Chilean Streaming Company Raises $1.75M from iS Capital

Mediastream, the development of locally based multimedia streaming tech company, announced it has raised the amount of $1.75 million in funding from a Chilean venture capital fund iS Capital.

iS Capital started up a year ago with the help of local startup investor Amérigo Chile Early Stage & Growth Fund and state development fund Corfo’s early-stage funding.

iS Capital has total funds of US$35mn, and is linked to InverSur Capital, a Chile-based venture capital business focusing on tech startups. The first fund InverSur launched was Amérigo Chile.

Amérigo Chile is a US$30mn capital fund made up of US$11mn from Telefónica Digital, US$1mn from the general partners – founder Oliver Flögel, Nils Galdo and Rodrigo Albagli – US$3mn from private investors, and US$15mn from Corfo.

Mediastream has a platform that allows the capture and broadcast of HD content via the web for corporations and for large events like concerts. The company currently works with 90 brands as well as with the Colombian and Chilean governments.

Source: Business News Americas

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Mediastream, Streaming Tech Company, Chile, Chilean Venture Capital, iS Capital, Amérigo Chile Early Stage & Growth Fund, InverSur, Amérigo Chile, Telefónica, Oliver Flögel, Nils Galdo, Rodrigo Albagli, Corfo, Colombia.


Nix Hydra Announces $5M in Venture Capital Boost

Los Angeles-based digital media company Nix Hydra has secured the amount of $5 million in early stage venture capital financing from Foundry Group, a venture capital firm focused on funding early stage technology companies like Zynga, FitBit and Harmonix.

This Series A round takes Nix Hydra’s total funding to more than $5.6M and includes one new angel investor: Mike Lazerow (Buddy Media CEO and Cofounder). Previous angel investors include Matt Britton (MRY CEO and Cofounder), Vinny Lingham (Gyft CEO and Cofounder), Brad Schwartz (Riot Games investor) and others.

“Having spent a significant time in the gaming space serving on the boards of Zynga and Harmonix, I can say first hand that there aren’t enough companies focused on creating apps and games for young women – and even fewer that are run by women. Nix Hydra changes that,” said Brad Feld, Managing Director at Foundry Group. “Lina and Naomi bring the perfect combination of talent, success and attitude that’s going to help catapult them into becoming one of the most fun and successful developers in the industry. They’re a force to be reckoned with, and I can’t wait to see what they create next.”

Source: Business 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, Los Angeles, California, Nix Hydra, Digital Media Company, Foundry Group, Zynga, FitBit, Harmonix, Mike Lazerow, Buddy Media, Matt Britton, MRY, Vinny Lingham, Gyft, Brad Schwartz, Riot Games, Brad Feld.


Three New Venture Partners Join SV Life Sciences

Dan Burgess, Dr. Ed Mascioli and Dr. Michael Mendelsohn joined SV Life Sciences, a leading international life sciences venture capital firm, as new venture partners.

All three new venture partners will join SVLS’ biotechnology investment team, a highly experienced group investing in truly innovative medicines, platform technologies and diagnostics addressing significant, unmet medical needs. This team has an extensive and successful record of forming and growing companies from early stage seed and start-ups to late stage development including growth capital. In addition, the team possesses deep operating expertise and strong industry relationships across a wide spectrum of the biotech sector.

Dan Burgess is an entrepreneur and business leader with whom SVLS has maintained a productive relationship for many years. Prior to joining SVLS, Mr. Burgess was Founder, President and CEO of Rempex Pharmaceuticals, Inc., an antibiotic company sold two years after its founding to The Medicines Company. Previously, Mr. Burgess was President and CEO of Mpex Pharmaceuticals, Inc., a company that advanced an inhaled antibiotic for cystic fibrosis patients into Phase 3 clinical trials and was acquired by Aptalis, Inc. in 2011.

Source: PR Newswire

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Dan Burgess, Dr. Ed Mascioli, Dr. Michael Mendelsohn, Life Sciences Venture Capital, SV Life Sciences, SVLS, Rempex Pharmaceuticals, Inc., The Medicines Company, Mpex Pharmaceuticals, Inc., Aptalis, Inc.


Oxford Capital and Finance Wales Back BioMonde with £3.5M

BioMonde, a Welsh wound care company that specializes in larval debridement therapy (LBT), also known as maggot therapy, has been backed by Oxford Capital and Finance Wales in a £3.5 million round.

BioMonde now has plans to open a US production plant, from which it will launch its American offering on the back of establishing itself in the UK, Germany and other sites in Europe.

The business uses the existing Larval Debridement Therapy (LDT) treatment, for cleaning of chronic wounds unresponsive to other techniques, and improves it by adding a patented bag delivery system. According to the business, its BioBag contains larvae in a sterile bag which ‘greatly simplifies’ wound treatment and gets rid of problems associated with loose larvae.

Investment manager Oxford Capital, which has bases in the UK, Switzerland and Hong Kong, is taking part in the funding deal alongside Finance Wales.

Investment body Finance Wales provides capital amounts of between £1,000 and £2 million for SMEs based in Wales, and has supported BioMonde since 2005.

Gareth Kempson, CEO of BioMonde, comments, ‘This investment will enable BioMonde to drive the next phase hoof its growth and development, entry into the largest medical device market in the world.

Source: GrowthBusiness

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, BioMonde, Welsh, Wound Care Company, Larval Debridement Therapy, LBT, Maggot Therapy, Oxford Capital, Finance Wales, UK, Germany, Europe, US, Larval Debridement Therapy, LDT, BioBag, Oxford Capital, Switzerland, Hong Kong, Finance Wales, Gareth Kempson.


AppDynamics Gets $50M in Venture Capital Boost

Investors at Silicon Valley Bank have put up as much as $50 million in AppDynamics Inc., whose software is used to monitor and manage complex software environments for large corporate customers, according to Venture Capital Dispatch.

The money, which includes both mezzanine term financing and a revolving line of credit, was raised in February and comes from Silicon Valley Bank.

AppDynamics this week will report an increase in bookings for the 12 months ending April 30 of 150% and has added several new customers. These include Barnes & Noble Inc., McKesson Corp. and Salesforce.com Inc.

“Debt financing is a great low-cost way to finance our business, and because of the quality of our enterprise customers, we were able to raise a great debt financing round easily,” said founder and Chief Executive Jyoti Bansal.

Overall, venture debt financing has decreased in recent years from a high in 2010, when there were 474 financings that raised $3.42 billion for companies, according to data from Dow Jones VentureSource.

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, Silicon Valley Bank, Silicon Valley Investors, AppDynamics Inc., Venture Capital Dispatch, Barnes & Noble Inc., McKesson Corp., Salesforce.com Inc., Jyoti Bansal, Dow Jones VentureSource.


HackerOne Scores $9M in Series A Venture Capital

A startup that was started by the former head of the Facebook security team HackerOne has raised $9 million in its first round of institutional venture capital funding.

Former Microsoft lead security strategist Katie Moussouris was joining the company as Chief Policy Officer.

Moussouris joins co-founder and CTO Alex Rice, who is formerly of Facebook and Merijn Terheggen, co-founder and CEO.

The company helps organizations by providing a platform to share security and bug information with the idea that the more eyeballs you have on a program or service, the more likely you’ll find an issue. While they have existing clients, this is the first time they are announcing the service publicly.

“The general problem is that vulnerabilities are inevitable. No matter what your security system, you are going to find issues. The current state of the world is pretty terrible. A researcher that finds [a bug] in the wild doesn’t know what to expect,” Rice explained.

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, Startup, Facebook, HackerOne, Microsoft, Katie Moussouris, Alex Rice, Merijn Terheggen.


VC Firm Osprey Capital Boosts GovToday

Osprey Capital, a Liverpool-based venture capital firm, has led a £500,000 series-A round for Manchester-based public sector media platform GovToday.

Having raised over GBP700,000 last year, including an initial round of investment from Osprey and a grant from the North West Fund for Digital & Creative, the latest fundraising has seen a small group of investors commit a further GBP500,000.

Along with Osprey, a significant proportion of this funding has come from the Greater Manchester Loan Fund, managed by Maven Capital Partners.

GovToday, which incorporates an online portal engaging with the public, private and third sectors as well as a programme of events and conferences, is committed to communicating key government initiatives and policies across a range of fields. The company employs more than 40 people and last year re-located to MediaCity in Manchester.

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, Liverpool, Liverpool Venture Capital, Manchester, Public Sector Media Platform, GovToday, North West Fund, Digital & Creative, Greater Manchester Loan Fund, Maven Capital Partners.


Sierra Ventures Leads $2.3M Series A Funding for Qeexo

Sierra Ventures, a privately held venture capital firm, has led a $2.3 million in series A funding round for Qeexo, a software startup focusing on a mobile touch screen technology called FingerSense.

Qeexo will use the funding to accelerate market adoption of FingerSense, the company’s mobile software which distinguishes between touchscreen input from a fingertip, knuckle, nail or stylus.

“OEMs are always looking for software innovation that will radically improve the way devices are used, while adding power and simplicity simultaneously,” says Sang Won Lee, Qeexo co-founder and CEO. “The current state of touch technology is not the pinnacle of the touchscreen experience. Multi-touch has been around since 2007 and we’re elevating the touch experience beyond just swiping multiple fingers across the screen. FingerSense is the first solution in this new rich-touch era.”

FingerSense was developed by a research team at Carnegie Mellon University, led by Qeexo co-founder and chief technology officer Chris Harrison.

Source: Private Equity Wire

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Sierra Ventures, Qeexo, Software Startup, Mobile Touch Screen Technology, FingerSense, Sang Won Lee, Carnegie Mellon University, Chris Harrison.


Saudi Arabia’s $270M Startups Venture Fund

The government of Saudi Arabia and one of the country’s biggest banks, are planning a $270 million or 1 billion riyals venture capital fund to invest in startup technology companies.

Riyad Capital, the investment banking arm of Riyad Bank (RIBL), will manage the fund, while Saudi Technology Development and Investment Co., a subsidiary of the Public Investment Fund, will provide seed capital, according to Adel Al Ateeq, head of asset management at Riyad Capital. The venture, which may make its first investment before the end of the year, will target the advanced materials, sustainable energy, and information, communication and technology industries, Al Ateeq said in an interview in Dubai on June 1.

The fund intends to capitalize on interest in developing new industrial materials from companies like Saudi Basic Industries Corp. (SABIC), the world’s largest petrochemical maker by market value, and the country’s $109 billion spending on solar energy. Economic expansion in Saudi Arabia is forecast to accelerate to 4.2 percent this year from 3.8 percent, according to the median of 18 estimates compiled by Bloomberg.

Source: Bloomberg

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Saudi Arabia, Saudi Arabia Government, Startup Technology Company, Riyad Capital, Riyad Bank, Saudi Technology Development and Investment Co., Public Investment Fund, Adel Al Ateeq, Dubai, Saudi Basic Industries Corp.


List of the Most Valuable Venture Capital-Backed Companies

The Billion-Dollar Startup Club, a list of the most valuable venture-capital backed companies, shows that of the 35 U.S. startups valued by venture capitalists at $1 billion or more, according to the Wall Street Journal.

That’s more than the dot-com bubble years of 1999 and 2000, when 18 such startups were in the club, according to an earlier analysis by VentureSource. During those years, the billion-dollar startup club was dominated by companies that made networking equipment for the telecom market. Only a handful of those companies still exist.

If the pattern repeats itself, chief information officers have reason to be concerned, since they’re the target customer for much of the software, hardware and services offered by the new billion-dollar startups. The list includes companies that are privately held, have raised money in the last three years and have at least one venture capital firm as an investor. Those that sell to businesses include Dropbox Inc., valued at about $10 billion, Palantir Technologies Inc., Cloudera Inc., Square Inc. and Pure Storage Inc.

In some cases, those valuations are soaring quickly. Pure Storage, maker of flash-storage for data centers, was valued at $1 billion in August 2013. By April 2014 it raised $225 million, which valued the company at $3 billion. In March, Cloudera raised about $900 million bringing its total equity funding to $1.2 billion and its valuation to $4.1 billion.

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, The Billion-Dollar Startup Club, US Startup, VentureSource, Software, Hardware, Dropbox Inc., Palantir Technologies Inc., Cloudera Inc., Square Inc., Pure Storage Inc.


Benoit Forcier Joins Cycle Capital as Partner

Benoit Forcier has joined Cycle Capital Management, a strategic imperative for the 21st Century economy, as Partner, declared Cycle Capital’s founder and managing partner Mrs. Andrée-Lise Méthot.

“Ben has helped shape and grow the technology sector of Atlantic Canada over the course of the last 10 years. We are delighted that Benoit comes back to Montreal to join the team to the benefit of Cycle Capital’s portfolios companies” said Ms. Méthot.

Benoit Forcier began his career at BCE Inc. in treasury management which led him to roles in Alliances, Venture and Acquisitions and then Ben worked on a number of transactions at BCE’s Venture Capital Fund which resulted in attractive returns through a trade sale and an IPO. After working in the Telesystem Group of companies on the fundraising side and for TIW, Ben moved to the East Coast to join Innovacorp where he played an active role as part of the leadership team scaling the organization’s technology business incubation and mentoring business model managing a seed and early stage venture fund with more than $60M in Capital Commitments as Vice-President Investment. While at Innovacorp, Ben also established and EIR program, operationalized a Fund-of-Fund Strategy and secured $35 million in commitments for the establishment of a new regional venture capital fund. More recently, Ben was a partner at Espresso Capital and has been working with Technology-based companies in northeastern North America.

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, Benoit Forcier, Cycle Capital Management, 21st Century Economy, Cycle Capital, Mrs. Andrée-Lise Méthot, Atlantic Canada, Montreal, BCE Inc., Telesystem Group, TIW, Innovacorp, Espresso Capital, Technology, North America.


Hi Inov Leads $7.3M in Series B Funding for Commerce Guys

The venture capital company Hi Inov has led a $7.3 million funding round for Commerce Guys, the creator of Drupal Commerce, according to company’s announcement.

The round represents Series B and was led by venture capital company Hi Inov, alongside venture capital firms already involved: ISAI, Alven Capital and Open Ocean Capital. The purpose of this funding is to accelerate the worldwide launch of Platform.sh, the cloud development and hosting solution by Commerce Guys.

“We are very pleased to welcome Hi Inov among the investors of Commerce Guys. This round of funding will enable a significant boost in sales and marketing around our cloud solution, Platform.sh. Launched last month, it has been very favorably received by drupal sites end users and our integration partners around the world,” said Frédéric Plais, Chairman and CEO of Commerce Guys.

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, Hi Inov, Commerce Guys, Drupal Commerce, ISAI, Alven Capital, Open Ocean Capital, Platform.sh, Frédéric Plais.


Covacsis Technologies Raises Venture Capital Funding

Covacsis Technologies, an early stage solution company, located in Mumbai, announced it has raised funding from the venture capital arms of Reliance Industries and Cisco.

The Mumbai-based startup founded by two IIT Bombay graduates helps manufacturing companies like Cipla and Tata Rallis make their factories more efficient.

“A strategic investor is of greater value for our growth and aspirations to become a global service provider to the manufacturing sector,” said Tarun Mishra, chief executive officer of Covascis who teamed up with classmate Abhijeet Mhatre to set up the company in 2009.

He declined to share financial details of the transaction. The investment in Covacsis comes as the startup is moving to become machine-to-machine (M2M) player, which refers to companies building tools that allow both wireless and wired systems to communicate with other devices of the same type, in the broader Internet of Things (IoT) theme.

Source: Economic 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, Covacsis Technologies, Mumbai, Reliance Industries, Cisco, Startup, IIT Bombay, Cipla, Tata Rallis, Tarun Mishra, Abhijeet Mhatre, Internet of Things, IoT.


Krishna Gupta Fills a Gap in the Venture Capital World

Krishna Gupta, as a senior at MIT back in 2008, realized that there was a gap in the venture capital world and launch his own venture capital firm called Romulus Capital.

There were all these students coming up with great ideas for companies, but there were few places for them to look to for support. VC firms were growing and less interested in investing in the smaller, early-stage companies.

Gupta decided that he was going to fill that gap himself with Romulus Capital.

“Venture capital firms are getting larger, so as a result it didn’t make sense for them to really be spending time at the seed stage, they really were becoming more of betting firms versus business builders,” Gupta told Business Insider in an interview.

Gupta took on that role of “business builder”, and six years later his firm is about to close a $US50 million second fund.

Source: Business Insider Australia

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Krishna Gupta, MIT, Romulus Capital.


Swipely Closes $20M Series C Funding

A Providence, Rhode Island-based Swipely, announced it has taken a new $20 million round of funding led by Pritzker Group Venture Capital, according to company’s founder and CEO Angus Davis announcement.

The company Davis founded in late 2009 employs more than 100 people and manages more than $2 billion in annual sales for merchants who use its system in more than 40 states. That’s up from $1 billion in sales it managed in November. Davis expects to have 200 employees by the end of 2015, he said. That’s a far cry from nearly 30 he employed at the start of last year.

The company’s payments platform allows more than 1,000 small retailers and local businesses across the country to better understand their customers by analyzing their credit- and debit-card usage.

Swipely gives retailers the kind of information that has fueled the growth of e-commerce giants such as Amazon and Zappos.com, Davis said. Much the way Amazon’s data collection allows that company to recommend books and other items to customers, Davis said Swipely helps restaurants understand who on the wait staff has the best success selling wine and who could do a better job selling desserts to diners.

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, Swipely, Providence, Rhode Island, Pritzker Group Venture Capital Pritzker, Angus Davis, E-commerce, Amazon, Zappos.com.


Hipmunk Scores $20M in Series C Funding to Take on Kayak

Hipmunk, Flight and hotel search startup, is announcing that it has scored the amount of $20 million in Series C funding to compete with sites like Priceline’s Kayak and TripAdvisor.

The funding from Oak Investment Partners, Institutional Venture Partners and Ignition Partners will be used for mobile, hiring and partnership efforts.

Hipmunk helps travelers find deals on flights and hotel rentals, by integrating comparison sites like Expedia and Hotels.com. Hipmunk also includes non-commercial options from Airbnb and HomeAway.

The startup is a “different kind of travel search,” said Adam Goldstein, CEO and co-founder of Hipmunk. “You get a really nice simple visual presentation of all the different options,” Goldstein said of the firm’s map search.

Hipmunk also places an emphasis on mobile. “Increasingly travelers are searching and booking on different devices,” said Goldstein.

This is the third funding round for the four-year-old company. The latest announcement brings the total capital raised to $40 million.

Source: Fox Business

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Hipmunk, Flight and Hotel Search Startup, Startup, Priceline, Kayak, TripAdvisor, Oak Investment Partners, Institutional Venture Partners, Ignition Partners, Expedia, Hotels.com, Airbnb, HomeAway, Adam Goldstein.


Campbell Smyth Joins A.I.S. RESOURCES Advisory Board

Campbell Smyth, an investment manager with over twenty years’ experience in financial markets, specializing in venture capital and commodities, has been added by A.I.S. RESOURCES LTD. to the company’s advisory board.

He graduated with a Bachelor of Commerce degree in Finance from the University of Western Australia in 1990 and his career has included co-managing several resource focused specialty funds with Lion Resource Management in London.

Currently Mr. Smyth advises the Malaysian domiciled Phoenix Gold Fund. He is also the Investment Manager of Clariden Capital, his venture capital fund based in Perth, Australia which has a focus on natural resources and technology. Mr. Smyth has assisted in extensive capital raisings and has advised on numerous global M&A transactions. Over the years, Mr. Smyth has built an extensive investor network in Australia, Europe, North America and Asia.

“Having Campbell on our Advisory Board presents the company with a strong depth of experience and wisdom in the junior natural resources and technology sectors,” states Martyn Element, president and CEO of A.I.S. Resources.

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, Campbell Smyth, Financial Markets, Commodities, A.I.S. RESOURCES LTD., University of Western Australia, Lion Resource Management, London, Malaysia, Phoenix Gold Fund, Clariden Capital, Perth, Australia, M&A, Europe, North America, Asia, Martyn Element.


Sequoia Capital Closes $530M India-Focused Fund

Venture capital firm Sequoia Capital has closed $530 million in its fourth India-focused fund to build on its venture and early growth investment activity in India, according to the U.S. venture capital fund statement.

Although intended to focus on India, the fund will also look for opportunities in Southeast Asia, and will invest primarily in technology, consumer and healthcare sectors, Sequoia said.

With the new fund, the total capital committed to Sequoia’s India-focused investments will be around $2 billion, it said in the statement. The U.S. fund’s strategy in India includes seed, venture and growth investments.

Sequoia Capital is invested in more than 75 companies including Just Dial (JUST.NS), handset maker Micromax Informatics Ltd, and Vasan Eye Care Ltd.

The new fund comes amid surging interest by foreign investors in India, fueled by expectations that the new Narendra Modi government will help kickstart economic growth with new economic and fiscal reforms.

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, Sequoia Capital, US Venture Capital, India-Focused Fund, India, Southeast Asia, Technology, Consumer, Healthcare Sectors, Growth Investment, Just Dial, Micromax Informatics Ltd, Vasan Eye Care Ltd, Narendra Modi.


Microsoft Ventures is Launching Its First Cyber Security Startup

Accelerator, a program designed to speed the development of fledgling businesses, is being launched by Microsoft Ventures in partnership with venture capital fund Jerusalem Venture Partners.

The new cybersecurity program will be based in Microsoft’s existing business accelerator in Herzeliya, Israel.

The four-month program is slated to run from September 2014 to January 2015; Microsoft plans to select six to weight start-ups, providing them with mentorship and access to Microsoft’s software applications. While the accelerator provides workspace and technology, it does not take an equity stake in the start-ups, according to Microsoft Ventures.

Jerusalem Venture Partners plans to invest $1 million in one of the start-ups at the end of the program, and provide a place in its own incubator in Be’er Sheva, Israel.

Source: Washington Post

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Accelerator, Fledgling Businesses, Microsoft, Microsoft Ventures, Jerusalem Venture Partners, Herzeliya, Israel, Startup, Software Application, Software App, Be’er Sheva.


Twitter CTO Adam Messinger Joins $200M Software Analytics Company

Adam Messinger, a Twitter Inc. Chief Technology Officer, has joined New Relic Inc., a software analytics company that’s raised more than $200 million, board, Venture Capital Dispatch has learned.

The move is a departure from the path taken by most technology companies, which tend to fill their boards with directors who have backgrounds in finance, according to New Relic founder and Chief Executive Lew Cirne.

Mr. Messinger, who has undergraduate degrees in physics and computer science in addition to a master’s degree in management from Stanford University, is listed as an inventor on more than a dozen patents. He has held technically oriented jobs at Bay Area technology companies, including BEA Systems and Oracle Corp., for nearly 20 years.

“I like making stuff–I like the craftsmanship–and I want to make something useful and so does Lew. That basic motivation of wanting to build something cool is what powers great companies,” Mr. Messinger said.

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, Adam Messinger, Twitter Inc., New Relic Inc., Software Analytics Company, Venture Capital Dispatch, Lew Cirne, Stanford University, Bay Area, BEA Systems, Oracle Corp.


Rodin Therapeutics Banks Nearly $13M in Initial Funding

Current investors Atlas Venture and Johnson & Johnson Development Corporation (JJDC) led the $12.9 million financing round for Rodin Therapeutics, Inc., a biotechnology company applying insights of epigenetics to novel therapeutics for neurological disorders.

Rodin will use the new funds to advance its pipeline of selective epigenetic modulators towards the clinic.

“Rodin has spent the last year validating the thesis that an unique chemistry approach, high potential biology, and a strong team could drive generation of compelling therapies for CNS diseases,” said Bruce Booth, Rodin’s Chairman and acting CEO, and a Partner at Atlas Venture. “The Series A investment is a culmination of our efforts over the last 12 months to start a preeminent company in the field.”

The Rodin approach is the product of a strategic partnership with Proteros, a founding shareholder in Rodin. Proteros’ capabilities in structure-accelerated lead discovery enables an orthogonal evaluation of the interactions of small molecules as they bind to key epigenetic targets.

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, Atlas Venture, Johnson & Johnson Development Corporation, Rodin Therapeutics, Inc., Biotechnology Company, Neurological Disorders, Bruce Booth, Proteros.


TVC Leads $41M Series C Round for ExtraHop

Technology Crossover Ventures (TCV), an investment firm with a long track record of investment, has led a $41 million in series C funding round for ExtraHop, the global leader in real-time wire data analytics for IT operational intelligence.

TCV was joined in the round by existing investors Meritech Capital Partners and Madrona Venture Group, as well as private investors including Sujal Patel, the former CEO and founder of Isilon Systems. To-date, ExtraHop has raised $61.6 million in venture capital. The company will use this round to further establish the IT Operations Analytics (ITOA) category, with an emphasis on delivering significant innovations within its Wire Data Analytics platform and aggressive expansion into new geographic markets. ExtraHop also announced that Ted Coons at Technology Crossover Ventures is joining its board of directors.

“Just as Splunk’s platform fundamentally changed the way businesses leverage machine data, ExtraHop has transformed wire data into a key source of visibility and intelligence for IT operations teams with its Wire Data Analytics platform,” said Coons. “Led by a team with extensive expertise in virtualization, application delivery, and network technologies, ExtraHop is reshaping the way IT approaches management of its operations. The ExtraHop Wire Data Analytics platform provides CIOs, CTOs, and IT Operations teams with the insight they need to translate rich wire data into tangible business value. Serving on the board, I look forward to working with this proven and dynamic team as they continue their category leadership.”

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, Technology Crossover Ventures, TVC, ExtraHop, Real-Time Wire Data Analytics, IT Operational Intelligence, Meritech Capital Partners, Madrona Venture Group, Sujal Patel, Isilon Systems, IT Operations Analytics, ITOA, Ted Coons, Technology Crossover Ventures.


Sequoia Capital Leads $100M Round for Korea’s Coupang

Sequoia Capital, an American venture capital firm located in Menlo Park, California, has led a $100 million funding round for Korea’s deal-of-the day website Coupang.

Michael Moritz, chairman of Sequoia Capital, said Coupang, headed by CEO Kim Bom, is the leading online retailer in Korea, one of the most attractive e-commerce markets in the world.

“It’s rare to find an entrepreneur like Kim Bom, who has blended the freshest innovations in e-commerce with the exceptionally fertile needs of the Korean market,” Moritz said. “This is visible in every order placed by Coupang’s extraordinarily loyal customers, and the meticulous attention to detail evident in every part of the company, from its smart phone app to its delivery team.”

Kim said in a statement, “With the support of Sequoia Capital, which has abundant experiences of success with innovative firms, we will continue to make our business lead the fast growing e-commerce market.”

Source: Korea 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, Sequoia Capital, American Venture Capital, US Venture Capital, Menlo Park, California, Korea’s Deal-of-The Day Website, Korea, Coupang, Michael Moritz, Kim Bom, Korean Market, Smart Phone App.


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