======================================================
VENTUREWIRE --- Wednesday, October 4, 2000
======================================================
Private Company Business News
------ Published Daily by Technologic Partners -------
http://technologicpartners.com
======================================================

Top Stories:

o Optical System Developer Maple Has Over $50 Million Series B
o Beauty ASP Makeover Networks Names Former Revlon Exec CEO
o Silicon Valley Bank Launches First Direct Investment Fund
o Latin Portal SportsYA! Cuts 25% of Staff, Raises $10 Million
o Ex-Arthur Andersen Partner Joins ECOutlook as President/COO
o Gameplay.com Buys Pixel Broadband Studios for $50 Million

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Also in This Issue:

New Money:
o CRM Firm Allmystuff Raises $10 Million in Series A
o Entertainment Site SRSwowcast Raises $6 Million Series A
o B2B Service Firm for Music Industry Adds $5 Million Seed
o Dais and SmallHill Merge to Form Quivox; Raise First Round
o Edge Technologies Receives $3.8 Million Private Placement
o Entertainment App Firm Starlight Gets $750,000 in Series A
o Newtek Capital Takes 50% of Starphire in Round One Funding
o $25 Million for Excess Consumer Goods B2B RetailExchange.com
o E-Commerce Firm Aimed at Latin America Fiera Sells 13% Stake
o Silicon Access Raises $56 Million in Third Round
o Wireless Access Firm BridgeWave Gets $26.5 Million Series C
o WaveSplitter Technologies Completes $51 Million F Round
o CRM Vendor Respond UK Gets $5.9 Million from Interregnum, 3i
o Educational Tools Firm Co-nect Gets $7 Million, New CEO
o Shopping Site MyOnlyCatalog.com Gets $8 Million Round Three
o E-Business Security Firm Solsoft Raises $9 Million
o Job Fair Company MyJobs.com Gets $1.54 Million Interim Funds
o Amadeus Invests $2.6 Million in LeatherXchange
o Lycos Invests in Media Software Company Wonderhorse.com
o Protege Adds $5 Million From Sal. Oppenheim jr. & CIE
o Tellme Networks Confirms $125 Million Funding

New Products:
o GNAC Changes Name To Certainty Solutions, Names New CEO
o Interpersonal Communication Tech Provider Commtag Founded
o Travel Writer's Web Site Travel Intelligence Launches

M&A:
o Sensory To Acquire Speech Technology Firm Fluent
o ShareMax Acquires Freight Forwarding Firm CargoStream
o U.K.-Based Easi to Buy Canadian Travel Firm Coventus
o Xilinx Acquires Fabless Semiconductor Firm RocketChips

New Directors:
o Voice Over Broadband Provider Woodwind Adds Three To Board
o Cyota Taps Former Citigroup Exec as Chairman of the Board
o Former Schwab Exec Joins Board of Finance Site Pure Markets
o InstallShield Exec Joins Board of ASP Firm Thinter.net

New People:
o Event Planning Software Maker Certain Names CEO, President
o Ex-PRWT ComServ Exec Joins Braxtel as Chairman and CEO
o Interstar Tech Names Ex-Omtool Exec as President and CEO
o NetScaler Names Exodus Co-Founder President and CEO
o 3D Graphic Firm Hypercosm Names Ex-IVN CEO As President, CEO

VC Fund News:
o New $20 Million Fund Targets Emerging Imaging Technology

VC Personnel:
o Boston Ventures Management Names New Managing Director
o Pivotal Asset Promotes Kevin Linker to General Partner
o Ex-PaeTec Exec Joins Camelot Ventures' Technology Team
o NewSpring Names Former Maxwell Systems Chairman as Partner

VW Corrections:
o Promia
o Drivewire

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======= Top Stories =======

o Optical System Developer Maple Has Over $50 Million Series B

SAN JOSE, Calif. -- Maple Optical Systems, which
develops optical systems, said it raised over $50
million in its Series B round of funding. The latest
round brings the company's funding to over $60 million.
New investor Texas Pacific Group led the round,
which included new investors Amerindo Investment
Advisors, Aurora Networks, McQuillian Ventures,
Siemens AG, and Technology Crossover Ventures. Previous
investor Raza Foundries, which invested $9 million
in the company's initial funding, also invested
in this round. The company will use the funding
for sales and marketing, developing a research and
development facility, and for manufacturing. Maple
Optical Systems, formerly Maple Networks, develops
multi-service optical systems that enable carriers
to provision, scale, and manage bandwidth.
http://www.mapleoptical.com/
_____________________________________________

o Beauty ASP Makeover Networks Names Former Revlon Exec CEO

SAN MATEO, Calif. -- Makeover Networks, an application
service provider for the beauty, fashion, and accessory
industries, said it named George R. Cannon as its
president and CEO. Mr. Cannon most recently served
as president and general manager of Revlon's South
American, Central American, and Caribbean markets.
Makeover Networks is backed by Draper Richards and
Venture Management Associates.
http://www.makeoverstudio.com/
_____________________________________________

o Silicon Valley Bank Launches First Direct Investment Fund

SANTA CLARA, Calif. -- Publicly-traded Silicon Valley
Bancshares, parent company of Silicon Valley Bank,
said its first direct equity fund Silicon Valley
BancVentures had a first close at $42 million. The
fund expects to have a final close in excess of
$50 million in mid-November. The fund will invest
$250,000 to $1 million in technology and life sciences
companies and will co-invest with other venture
capitalists. The investment managers are Greg Becker,
Aaron Gershenberg, and Doug Hamilton in Menlo Park,
Calif. and Jim Maynard in Boston.
http://www.svb.com/
_____________________________________________

o Latin Portal SportsYA! Cuts 25% of Staff, Raises $10 Million

MIAMI -- SportsYA!, a sports portal aimed at Latin
America, Spain, and the U.S. Hispanic market, said
it that it cut its staff by 25%, laying off 50 of
its 200 employees. Part of the cuts will come from
duplications resulting from SportsYA!'s recent acquisition
of Element 7. SportsYA! also said it raised $10
million in fourth round financing from previous
investors IMG/Chase Sports Capital, Chase Capital
Partners, Flatiron Partners, and Ventech. The company
will invest the money in its Latin American operations.
The funds will also be used for sales and marketing.
The company intends to open new offices in New York
and Los Angeles.
http://www.sportsya.com/
_____________________________________________

o Ex-Arthur Andersen Partner Joins ECOutlook as President/COO

HOUSTON -- ECOutlook.com, an online business services
company that provides a link between organizations
for automated business information exchange, said
it has named Mathew Verghese as its new president
and CEO. Mr. Verghese succeeds founder and chief
business development officer James Paat as president
and COO. Mr. Paat will focus on continuing to attract
new business to ECOutlook.com and serve as vice-chairman
of ECOutlook.com's advisory board. Prior to joining
ECOutlook.com Mr. Verghese was a partner and CFO
at Arthur Andersen. Mr. Verghese will serve on ECOutlook.com's
board of directors with Tom Frederick, general partner
at Venrock Associates and Varel Freeman, senior
partner at Baring Latin America Private Equity Fund.
James Paat, David Fischer, and Hugh Switzer will
rotate off the board of directors but will continue
to play key roles in building the company. ECOutlook
is backed by Venrock Associates and the Baring Latin
American Private Equity Fund.
http://www.ecoutlook.com/
_____________________________________________

o Gameplay.com Buys Pixel Broadband Studios for $50 Million

LONDON -- Gameplay.com, an e-commerce and online
gaming company backed by British Telecom and BSkyB,
said it acquired Pixel Broadband Studios, a game
developer, from its parent company Take2 in an all
stock acquisition was valued at $50 million. The
two firms also entered a strategic partnership agreement
through which Gameplay acquires Take2's digital
distribution rights and Pixel Broadband Studios'
proprietary broadband multiplayer technology, distribution
relationships, and idTV games. Take2 gets a digital
distribution partner in Europe and an equity stake
in Gameplay.com as part of the deal.
http://www.gameplay.com/

======= New Money =======

o CRM Firm Allmystuff Raises $10 Million in Series A

AUSTIN, Texas -- AV Labs said that allmystuff raised
$10 million in Series A funding. TL Ventures led
the round, with Dell Ventures and Austin Ventures
participating. AV Labs, which had previously invested
in allmystuff, also contributed. Allmystuff enables
durable goods companies to keep product information
and services on a personalized page for their customers.
http://www.allmystuff.com/
_____________________________________________

o Entertainment Site SRSwowcast Raises $6 Million Series A

SANTA ANA, Calif. -- SRSwowcast.com, an Internet
music and entertainment broadcasting company, said
it raised $6 million in its Series A round of financing
from WI Harper Group. The company will use the funds
for expansion and technology development. SRSwowcast.com
is a subsidiary of publicly traded audio and video
technology company SRS Labs.
http://www.srswowcast.com/
_____________________________________________

o B2B Service Firm for Music Industry Adds $5 Million Seed

LOS ANGELES -- MoodLogic, a business-to-business
service provider for the music industry, said it
raised $5 million in additional seed money from
individual investors and led by Broadband Capital.
The company plans to use the funds to develop its
product and database.
http://www.moodlogic.com/
_____________________________________________

o Dais and SmallHill Merge to Form Quivox; Raise First Round

LOS ANGELES -- Dais, a developer of online, business-to-business
claims management and underwriting technology for
the property and casualty insurance industry, said
it has merged with SmallHill, a developer of production
management software for the automobile physical
damage repair industry. The new company will be
called Quivox Systems, and will have its headquarters
in Los Angeles. Quivox also announced it raised
an undisclosed first round of funding through private
equity investors led by Blue Capital. Additional
investors in this round include Fenway Partners
and Chase Capital Partners (CCP). The company said
the financing will be used to for technology development
and marketing. Joe Gonzalez, a limited partner at
CCP, will join Robert Taylor and Rick Beckett, both
managing directors of Blue Capital, on Quivox's
board.
http://www.quivox.com/
_____________________________________________

o Edge Technologies Receives $3.8 Million Private Placement

WEST CONSHOHOCKEN, Pa. -- Edge Technologies, develops
technologies for enterprise network management applications
and services, said it raised $3.8 million in a private
placement from PMG Capital Corp. The company plans
to use the proceeds as working capital, marketing,
and to establish a sales channel support infrastructure
and product customization. Edge Technologies was
founded in 1993.
http://www.edge-technology.com/
_____________________________________________

o Entertainment App Firm Starlight Gets $750,000 in Series A

NEW YORK -- Starlight Runner Entertainment, which
develops personalized entertainment software, said
it raised its Series A funding for $750,000 from
Arcturus Capital. Arcturus Capital's Frank Tota
will sit on the company's board of directors. The
company will use the funding for infrastructure
development and for further software development.
The company plans to soon pursue a Series B round
of funding, which it hopes to close by the first
quarter of 2001. Starlight Runner Entertainment
is led by interactive content creator Jeff Gomez,
who serves as chairman, president, and CEO.
http://www.starlightrunner.com/
_____________________________________________

o Newtek Capital Takes 50% of Starphire in Round One Funding

NEW YORK -- Starphire Technologies, an application
service provider that provides software tools for
the development and deployment of interactive and
data-driven Web sites, said it raised an undisclosed
amount of funds from Newtek Capital in its first
round of funding. Newtek will receive a 50% ownership
interest along with three of Starphire's seven board
seats for its investment. The company said the funds
will be used for software development, staffing,
and marketing.
http://www.starphire.com/
_____________________________________________

o $25 Million for Excess Consumer Goods B2B RetailExchange.com

BOSTON -- RetailExchange.com, an online business-to-business
exchange for excess consumer goods, said the company
secured $25 million in financing. New investor 3i
led the round with new investors Koch Ventures and
Exeter Funds contributing. Existing investors Internet
Capital Group, Dorset Capital, and Castile Ventures
also participated. Nelson Stacks, director of 3i,
joined the board of directors. The company will
use the funding to enhance its services and expand
internationally.
http://www.retailexchange.com/
_____________________________________________

o E-Commerce Firm Aimed at Latin America Fiera Sells 13% Stake

MIAMI -- Fiera, an e-commerce firm that has developed
a distribution and technology platform aimed at
Spanish and Portuguese-speaking users and English-speaking
Hispanics in the U.S., said the Technology and Internet
Fund has invested an undisclosed amount of Series
B funding in exchange for a 13.3% interest in the
company. Fiera, which has operations in Brazil,
Argentina, Chile, Colombia, Mexico, the U.S., Puerto
Rico, and Spain, said it will use the funding to
expand its distribution and technology platform
throughout Latin America. In addition to the cash
investment, The Technology and Internet Fund intends
to assist Fiera in its regional e-commerce operations.
Fiera is also backed by the Advent Group, Latin
America Enterprise Fund and individual investors.
http://www.fiera.com/
_____________________________________________

o Silicon Access Raises $56 Million in Third Round

SAN JOSE, Calif. -- Silicon Access Networks, a provider
of network processing products to the terabit router
market, said it raised $56 million in its third
round. New investors Soros Private Equity Partners
led the round, which also included Pivotal Asset
Management, Morgan Stanley Dean Witter, and previous
investors Comdisco Ventures, Intel Communication
Fund, Norwest Venture Partners, Raza Venture Fund,
Sprout Group, the venture capital affiliate of
Donaldson, Lufkin & Jenrette, Synopsys, and Tallwood
Venture Capital. Jonathan Bilzin, a partner with
Soros Private Equity Partners, joined the company's
board of directors. The company will use the funds
to develop its iFlow chipset product.
http://www.siliconaccess.com/
_____________________________________________

o Wireless Access Firm BridgeWave Gets $26.5 Million Series C

SUNNYVALE, Calif. -- BridgeWave Communications,
a provider of wireless access technologies that
extend the reach of broadband networks, said it
has received $26.5 million in a Series C financing
round. Jerusalem Venture Partners led the current
round of financing, which also included funding
from Ampal, BreezeCOM, DRW Venture Partners, investment
funds affiliated with Merrill Lynch & Co., MKS Ventures,
Oak Investment Partners, Seapoint Ventures, and
Scientific-Atlanta. JVP, Ampal, MKS Ventures, Oak
Investment Partners, and Seapoint Ventures have
all participated in previous funding rounds. BridgeWave
Communications will use this funding to support
its expanding R&D programs, build new facilities,
expand its manufacturing infrastructure, and develop
its marketing and sales organization.
http://www.bridgewave.com/
_____________________________________________

o WaveSplitter Technologies Completes $51 Million F Round

FREMONT, Calif. -- WaveSplitter Technologies, a
company that develops, manufactures, and markets
components for optical amplifier and DWDM systems
for both long-haul and metropolitan area network
applications, said it raised a $51 million equity
financing round led by Thomas Weisel Capital Partners.
This latest round was also funded by J. & W. Seligman
& Co., Corvis Corporation, NEC Corporation, and
Kalkhoven Pettit Levin Ventures. Previous investors
Mayfield Funds, China Development Industrial Bank,
NIF Ventures, and Star Ventures also participated
in the round. The company said it will use the funds
for marketing, increasing manufacturing capacity,
product development, and expanding sales and customer
support.
http://www.wavesplitter.com/
_____________________________________________

o CRM Vendor Respond UK Gets $5.9 Million from Interregnum, 3i

KETTERING, England -- Respond UK, a CRM software
and services vendor, said it raised $5.9 million
in its third round of funding from 3i and Interregnum.
The company said it will use the funding for product
development and continued expansion.
http://www.respond.co.uk/
_____________________________________________

o Educational Tools Firm Co-nect Gets $7 Million, New CEO

BOSTON -- Co-nect, which provides schools with online
tools, training and resources, said it has secured
$7 million led by Rex Capital. The funding will
enable Co-nect to expand its core services, as well
as for product development and to extend its offerings.
Dave Mixer, managing director of Rex Capital, will
join Co-nect's board of directors, which also includes
Lamar Alexander, former Secretary of Education.
The company also announced changes to its management:
Richard Lim, formerly Co-nect CEO, will now assume
the duties of chairman. Andrew Skoler, president
and COO, has been promoted to president and CEO.
http://www.co-nect.net/
_____________________________________________

o Shopping Site MyOnlyCatalog.com Gets $8 Million Round Three

IRVINE, Calif. -- MyOnlyCatalog.com, which enables
online shoppers to browse a selection of catalogs
and purchase merchandise, said it has raised $8
million in its third round of funding from individual
investors. The company, which has raised $10 million
to date, said it will use the funds to develop its
electronic commerce infrastructure and day-to-day
operations.
http://www.myonlycatalog.com/
_____________________________________________

o E-Business Security Firm Solsoft Raises $9 Million

MOUNTAIN VIEW, Calif. -- Solsoft, a provider of
policy management for Internet business security,
said it has secured $9 million from new investors
Carlyle Internet Partners Europe and Intel Capital.
Solsoft's previous investors, Cita, Innovacom-Technocom,
Societe Generale Asset Management, Sofinnova Partners,
Vantech, and Viventures all participated in the
round. Solsoft, which has secured $16 million in
financial backing to date, said it will use the
funds for development of its expansion, distribution,
service and partners channels, and for additional
product development.
http://www.solsoft.com/
_____________________________________________

o Job Fair Company MyJobs.com Gets $1.54 Million Interim Funds

CHICAGO -- Career Fairs International, a job fair
company doing business as MyJobs.com, said it secured
$1.54 million in interim funding. The CS Private
Equity Fund invested the funding. The company, which
focuses on jobs within the financial industry, will
expand its categories to include jobs in health,
legal, travel, sales, technology, and marketing
fields. MyJobs.com expects to close on a larger
institutional round within the next three months
and is also backed by individuals.
http://www.myjobs.com/
_____________________________________________

o Amadeus Invests $2.6 Million in LeatherXchange

LONDON -- Amadeus Capital, an English venture capitl
firm, said it invested $2.6 million as part of a
$10.1 million funding for leatherXchange.com, a
Barcelona-based business-to-business marketplace
for the leather industry. Additional investors in
the round included Gilde, Banco de Santander Central
Hispano, and Latin Rim. The company said it will
use the funding to recruit a sales force, establish
customer support and training operations, and add
services such as quality inspection and credit checks.
The investment is Amadeus Capital's first in continental
Europe.
http://www.leatherxchange.com/
_____________________________________________

o Lycos Invests in Media Software Company Wonderhorse.com

WALTHAM, Mass. -- Lycos Ventures announced it has
invested $1.6 million in Wonderhorse.com, a real-time
media software company. The investment is part of
Wonderhorse.com's $3.1 million funding round, which
Lycos co-led along with Alexander Hutton Venture
Partners. Washington Park Ventures also participated
in the round. Wonderhorse said it will use the funds
to expand its operations and complete production
of its software next year.
http://www.wonderhorse.com/
_____________________________________________

o Protege Adds $5 Million From Sal. Oppenheim jr. & CIE

LONDON -- Protege, which provides development services
for online businesses, said it raised $5 million
in additional funding following its second round.
The funding was provided by Sal. Oppenheim jr. &
CIE, a private German bank. The company had raised
$45 million in its second round of funding from
investors including Partech International, American
Express, XDL Intervest, and Vulcan Ventures. The
company's $20 million first round was funded entirely
by Global Retail Partners.
http://www.protege.co.uk/
_____________________________________________

o Tellme Networks Confirms $125 Million Funding

MOUNTAIN VIEW, Calif. -- Tellme Networks, which
provides phone applications using voiceXML technology,
confirmed that it raised $125 million in its most
recent round of funding. The round included investments
from Attractor, Amerindo Investment Advisors, Bowman
Capital, Essex Capital, Ignition, Van Wagoner, and
original investors Benchmark Capital, Kleiner Perkins
Caufield & Byers, and Barksdale Group. The company
said it will use the funding for global expansion.
The Tellme network enables businesses to outsource
all infrastructure required to answer a phone number
with a voice-activated phone application. The company
said there would be no board seats taken as a result
of the investment. The company had also received
a previous $60 million investment from AT&T.
http://www.tellme.com/

======= New Products =======

o GNAC Changes Name To Certainty Solutions, Names New CEO

REDWOOD CITY, Calif. -- Global Networking & Computing
(GNAC), a provider of Internet operations management
services, said it has appointed Catherine Chiu as
its new chief executive officer and changed its
name to Certainty Solutions. Ms. Chiu, who was most
recently a partner at Alpine Technology Ventures,
has also worked at CIBC Oppenheimer. Certainty,
which has raised $4 million from individual investors,
is presently seeking an additional $20 million in
its first round of funding.
http://www.certaintysolutions.com/
_____________________________________________

o Interpersonal Communication Tech Provider Commtag Founded

CAMBRIDGE, U.K. -- Commtag, a interpersonal communication
technology start-up company, has been jointly founded
by Ran Mokady, founder of wireless Internet start-up
STNC; Guy Larri, formerly a product manager at ARM;
and Bridget Kerle, previously a partner at the law
firm Hewitson, Becke, and Shaw. The founders provided
$1,000,000 in seed funding. The company expects
to close an additional round before the year-end
to fund product development. Commtag will be based
in Cambridge, England.
http://www.commtag.com/
_____________________________________________

o Travel Writer's Web Site Travel Intelligence Launches

LONDON -- Travel Intelligence, an online publishing
platform for travel writers, announced its launch.
Travel Intelligence will host and syndicate travel
writing from writers around the world. Co-founder
Jamie Dunford Wood, former managing editor of Metropolist
Magazines, is managing director and co-founder A.A.
Gill is editorial director. The company is funded
by individual investors.
http://www.travelintelligence.net/

======= M&A =======

o Sensory To Acquire Speech Technology Firm Fluent

SUNNYVALE, Calif. -- Sensory, a supplier of embedded
speech recognition technology for consumer electronics,
said it has signed an agreement to acquire Fluent
Speech Technologies, a speech technology firm founded
by researchers from Oregon Graduate Institute. The
terms of the deal were not disclosed. Sensory said
the acquisition will enable the company to offer
a wider range of products incorporating speech technology.
Sensory, backed by Norwest Venture Partners and
Investar, has raised a total of $7 million from
two separate rounds of funding. Fluent is backed
by individual investors.
http://www.sensoryinc.com/
_____________________________________________

o ShareMax Acquires Freight Forwarding Firm CargoStream

PARSIPPANY, N.J. -- ShareMax, an Internet-based
strategic sourcing platform provider, said it acquired
CargoStream, which provides freight forwarding services.
Terms of the deal were undisclosed. Steve Lingeman,
chief executive officer of CargoStream, will become
vice president of logistics for ShareMax. ShareMax
is funded by Apollo Management, Indigo Capital,
Odeon Capital Partners, and Net Gain. CargoStream
is funded by individual investors.
http://www.sharemax.com/
_____________________________________________

o U.K.-Based Easi to Buy Canadian Travel Firm Coventus

KANATA, Ontario -- U.K.-based hotel technology provider
easi Solutions said it will acquire Coventus, which
provides Web-based applications and remote access
services for business travelers, for an undisclosed
amount. Coventus will retain all of its employees
and will become the North American division for
easi Solutions. Coventus chief executive officer
Ranald McGillis will serve as president of easi
Solutions North America. Easi Solutions, formerly
PCC, is backed by Aether, Alcatel, Market Capital,
and individual investors. Coventus is backed by
Celtic House International, Hollinger Digital, PSINet,
and individual investors.
http://www.easico.com/
http://www.coventus.com/
_____________________________________________

o Xilinx Acquires Fabless Semiconductor Firm RocketChips

SAN JOSE, Calif. -- Xilinx, a provider of programmable
logic technology, said it acquired RocketChips,
a fabless semiconductor company, for an undisclosed
amount. RocketChips will function as a subsidiary
of Xilinx with Raymond Johnson, chief executive
officer of RocketChips, heading the division. RocketChips
is funded by individual investors.
http://www.rocketchips.com/
http://www.xilinx.com/

======= New Directors =======

o Voice Over Broadband Provider Woodwind Adds Three To Board

GERMANTOWN, Md. -- Woodwind Communications Systems,
provider of soft integrated access devices for next-generation
services such as voice-over- broadband, said that
Mike Pascoe, former president of PairGain Technologies
and Newbridge Networks; Richard Harris, vice president
of SpaceVest; and Khaled Nasr, partner at Alta Partners
and former president and CEO, FlowWise Networks,
have joined the company's board of directors. The
recent addition brings the total number of directors
to seven. Members of the current board include:
Dick Berger, president and CEO of Woodwind Communications,
Tom Scholl, founder of Telogy Networks, Andrew Jones,
partner at Boulder Ventures, and Stephen Frederick,
partner at Novak Biddle Venture Partners. Woodwind
is backed by Alta Partners, SpaceVest, Sterling
Venture Partners, Boulder Venture, and Novak Biddle
Venture Partners. Telephone 703-760-0900 ext. 110.

_____________________________________________

o Cyota Taps Former Citigroup Exec as Chairman of the Board

NEW YORK -- Cyota, a provider of online payment
security technology, said it has appointed James
E. Bailey as chairman of its board of directors.
Mr. Bailey was executive vice president and corporate
quality director at Citigroup, formerly known as
Citibank. Mr. Bailey joins board members Ira Rimerman,
Kelly Doherty, and Gary Heatherington. Cyota is
funded by Israel Seed Partners and individual investors.
http://www.cyota.com/
_____________________________________________

o Former Schwab Exec Joins Board of Finance Site Pure Markets

SAN FRANCISCO -- Pure Markets, an online marketplace
for equipment finance, said it added Mark Thompson
to its board of directors, which includes CEO Jay
Fudemberg and Crosspoint Ventures Partner's Bob
Hoff. Mr. Thompson is chairman of Integration.com,
a wireless chip company, and previously was an executive
producer and senior vice president at Schwab.com,
an online brokerage. Pure Markets is funded by Crosspoint
Venture Partners.
http://www.puremarkets.com/
_____________________________________________

o InstallShield Exec Joins Board of ASP Firm Thinter.net

San Jose, Calif. -- Thinter.net, an ASP infrastructure
provider, said it added Viresh Bhatia to its board
of directors. Mr. Bhatia is the co-founder and chief
executive officer of InstallShield Software, an
Internet-enabled software installation and distribution
service. Thinter.net is backed by InstallShield
Software Corp.
http://www.thinter.net/

======= New People =======

o Event Planning Software Maker Certain Names CEO, President

SAN FRANCISCO -- Certain Software, a developer of
meeting and event planning software, said it has
appointed James Pappas as president and chief executive
officer. With his appointment, former president
and CEO Douglas Goldman advances to chairman of
the board of directors. Mr. Pappas comes to Certain
from Video Yellow Pages.com, where he served as
chief information officer. Certain is backed by
individual investors.
http://www.certain.com/
_____________________________________________

o Ex-PRWT ComServ Exec Joins Braxtel as Chairman and CEO

BOXBOROUGH, Mass. -- Braxtel Communications, a developer
of customer contact services for small and medium-size
businesses, said it appointed Mark L. Kutner as
chairman and CEO. Mr. Kutner, who has served as
a consultant to Braxtel for the past several months,
was formerly president and CEO of PRWT ComServ,
a Philadelphia-based provider of call-center and
document processing services. Braxtel's backers
include Geocapital Partners, Delta Partners, and
Intel Communications Fund.
http://www.braxtel.com/
_____________________________________________

o Interstar Tech Names Ex-Omtool Exec as President and CEO

MONTREAL -- Interstar Technologies, a developer
of network fax server technology, said it appointed
Guy D. Blanchette as its new president and CEO succeeding
co-founder and chairman Michael Di Perno, who is
now vice president of corporate accounts. Mr. Blanchette
previously served as senior vice president of Omtool,
a fax server developer. Interstar is backed by Telesystem
and Sofinov, both Montreal based venture capital
firms.
http://www.interstarinc.com/
_____________________________________________

o NetScaler Names Exodus Co-Founder President and CEO

SANTA CLARA, Calif. -- NetScaler, a provider of
Internet infrastructure services, said it named
Exodus Communications co-founder and former CEO
B.V. Jagadeesh as its new president and CEO. Mr.
Jagadeesh, who has been serving on NetScaler's board
of directors, will work alongside Michael Susai,
NetScaler's founder, chairman of the board, and
CFO. The company has received financial backing
from Gabriel Venture Partners, Credit Suisse First
Boston, and individual investors.
http://www.netscaler.com/
_____________________________________________

o 3D Graphic Firm Hypercosm Names Ex-IVN CEO As President, CEO

SUNNYVALE, Calif. -- Hypercosm, a developer of interactive
3D graphics technology for the Internet, said it
has appointed G. Robert Brownwell as president and
CEO. Most recently, he was president and CEO of
IVN Entertainment, an Internet media and entertainment
technology company. Hypercosm has raised $3.5 million
from individual investors and is presently pursuing
institutional investors.
http://www.hypercosm.com/

======= VC Fund News =======

o New $20 Million Fund Targets Emerging Imaging Technology

FOSTER CITY, Calif. -- Publicly traded Electronics
For Imaging, which provides networked printing technology,
said it is creating a venture fund to invest in
early stage companies involved in imaging technology.
The initial allocation to the fund will total $20
million. EFI said the fund will enable the company
to identify, create, and manage the development
of new imaging technology related businesses while
maintaining its current development and acquisition
strategy.
http://www.efi.com/

======= VC Personnel =======

o Boston Ventures Management Names New Managing Director

BOSTON -- Boston Ventures Management said Barry
Baker, former president and COO of USA Networks,
joined the firm as managing director and venture
partner. Baker will be a general partner of Boston
Ventures Fund VI, the firm's new $1.2 billion fund.
The firm focuses on companies involved in communications,
media, and leisure activities. Telephone 212-299-8964.

_____________________________________________

o Pivotal Asset Promotes Kevin Linker to General Partner

SAN FRANCISCO -- Pivotal Asset Management, a late-stage
technology investor, said it has promoted Kevin
Linker to general partner. Mr. Linker oversees Pivotal's
investments in telecommunications, data communications,
optical components, and systems companies. Prior
to joining Pivotal, Mr. Linker worked as an analyst
in the technology mergers and acquisitions group
at Morgan Stanley. Pivotal invests in late stage
private and post-IPO technology enterprises, with
emphasis on communications, software, and services
entities. Telephone 415-641-4907.
_____________________________________________

o Ex-PaeTec Exec Joins Camelot Ventures' Technology Team

SOUTHFIELD, Mich. -- Camelot Ventures said it has
added Joe Golden to its technology team. Mr. Golden
was previously president of Data Services at PaeTec
Communications, an integrated communications provider.
Before serving as a president at PaeTec, Mr. Golden
was the CEO of Ann Arbor-based CampusLink Communications
Systems, a provider of telecommunications services
for the higher education market.
http://www.camelotventures.com/
_____________________________________________

o NewSpring Names Former Maxwell Systems Chairman as Partner

CONSHOHOCKEN, Penn. -- Venture capital firm NewSpring
Ventures said it named Michael A. DiPiano as a new
parter. Mr. DiPiano was most recently chairman of
Internet commerce company Maxwell Systems and co-founded
several companies such as Alliance One, Message
Link, and Vytek Wireless. NewSpring Ventures is
a $90 million fund that invests in IT, healthcare,
and business services start-ups.
http://www.newspringventures.com/

======= VW Corrections =======

o Promia

NEW YORK -- An item in yesterday's Venture Wire
about Promia's financing incorrectly stated it raised
funds through ICM Asset Management. The company
raised funds through investment bank Trautman Wasserman.
The funds were from individual investors and two
undisclosed ICM Asset Management funds.
_____________________________________________

o Drivewire

NEW YORK -- Due to incorrect information released
by the company, an item in last Thursday's VentureWire
about Drivewire's new chief executive officer, Joseph
Hughes, misidentified his background. Mr. Hughes
was not president of IBM, but was vice president
of the company's Northwest district. Mr. Hughes'
most recent position was president of US West Cellular.
Mr. Hughes replaced interim CEO C.R. Gentry, who
is on Drivewire's board of directors.

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