?	
?	VentureWire
	Thursday, May 17, 2001		?
?	CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND	VentureWire Index
		'VentureWire
		today: 712.9 ? +1.26%	?
? 		
		
		top stories
		
		  Mobile Internet Firm Tahoe Launches with $38M First Round
		  Accelerator Startups.com Changes Model & Name, Cuts 30%
		  Hermes Set to Invest $965M for BTPS in Companies and Funds
		  OffRoad Capital Splits into Two Divisions, Lays Off 50%  
		
		UPCOMING EVENTS
		Enterprise Outlook 2001
		90 private enterprise companies already comfirmed to present their business 
plans Register for Enterprise Outlook to learn more!
		
		TODAY'S FEATURES
		Flatiron Denies Rumours of Demise
		By Taran Provost
		Flatiron Partners is not being dismantled and will continue to aggressively 
seek out new investment opportunities, a partner at the firm told 
VentureWire. more>>
		
		
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		Kodiak Venture Partners Looking At Data Deals
		By Suzanne Segers Travers
		Kodiak Venture Partners of Concord, Mass. more>>
		
		iBase Wants to Broaden Its Base To US
		By Jonathan Shieber
		London-based digital asset management firm iBase is looking to expand its US 
operations, according to Brendan Flattery, the company's chief executive 
officer. The company, which raised GBP 4.2 million ($6 million) in a Series B 
funding last week, has established an office in New York and has hired 
Parthenon Group, a market analysis firm with offices in Boston, London, and 
San Francisco, to help determine where iBase will concentrate its initial 
efforts to penetrate the American market. more>>
		
		DataSynapse To Close $15 Series B
		By Michelle Tsai
		DataSynapse, a peer-to-peer software platform for distributed computing in 
the financial services and energy industries, expects to close $15 million in 
Series B funding within two weeks, said CEO Peter Lee. more>>
		
		
		
		
		new money
		
		  InterWest Makes Series A Investment in Pharma Company Algorx
		  Alphamosaic Spins Out from Arthur D. Little with $9 Million
		  Fiber-Optics Components Firm Comlase Gets $3.5M Series A
		  Mobile Apps Firm Xora Secures $7M Round One
		  E.Intelligence Caps $8M Round Two Led by Commonwealth
		  Foundstone Closes Series B at $9 Million
		  Customer Services Firm Yube Gets $2 Million in Series B 
		 eVentures Group Takes Minority Stake in White Amber
		  Beyond Genomics Secures $5 Million Strategic Investment
		  Korean Online Transaction Firm Cpocket Gets $1.1M
		  Embark Gets $3 Million, Bringing Series F to $8 Million
		  Orange to Become Third Co-owner in 3G Infrastructure
		
		
		bad news
		
		  Linux-based Software Developer Eazel Closes
		  RoundArch Cuts 12% of North American Staff
		
		
		new products
		
		  Online and Analytical Consultancy Compete Announces Launch
		  EdgeMatrix and MobileOne Form Wireless Intellect Labs
		  Sightward Launches and Introduces First Product
		  Terrace Mountain Changes Name to Impart Technology
		
		
		m&a
		
		  All Bases Covered Makes Second Acquistion in a Week
		  Princeton eCom Buys Venture Finance Software from Intuit
		  Net Printing Products Firm PrintCafe Buys Assets of Impresse
		  Lost Boys, Incubation and Design Firm, Makes Acquisitions
		  Pitman Acquires Online Printing Equipment Firm PrintNation
		  Poster Firm Bignose Acquires Photo Finishing Site Eframes
		  eKit.com Buys Call Sciences' International Calling Card Biz
		
		
		new directors
		
		  Clarity Names First Chairman 
		
		
		new people
		
		  SmartBargains Appoints Former Barnes&Noble.com Exec to CEO
		  Creative Planet Promotes CFO to President
		  CyLex Systems Appoints New President & CEO
		  Net Security Firm Zone Labs Names First President and COO
		  PrivateExpress Appoints New President & CEO
		  EVLogix Officially Appoints Founder as President & CEO
		
		
		vc fund news
		
		  Israeli Telecom Firm Bezeq Teams Up to Start $50M VC Fund
		
		
		vc personnel
		
		  Encompass Ventures Adds New Associate to Team
		  Atlas Venture Names Entrepreneur as Venture Partner
		
		
		vw corrections
		
		  MolecularWare
		
		 TOP STORIES... NEW MONEY... BAD NEWS... NEW PRODUCTS... M&A... NEW 
DIRECTORS... NEW PEOPLE... VC FUND NEWS... VC PERSONNEL... VW CORRECTIONS
		
		
		top
		
		
		Hot New Development - Mobile Outlook, June 5 & 6,
		San Francisco Airport Marriott
		
		Exciting, new speakers have just been added to Mobile
		Outlook. George Davis, vice chairman and president of
		Aether Systems, will discuss how his company powers
		mobile and wireless data services for Charles Schwab,
		National Discount Brokers, Allegiance Health Care, the
		U.S. Postal Service, Office Depot, Nissan, and more.
		
		With industry leaders and trendsetters such as George
		Davis planning to be in attendance at Mobile Outlook,
		why aren't you? Mobile Outlook is less than 3 weeks away,
		so register online today:http://www.mobile2001.net/register.asp
		
		
		
		top stories
		?
		Mobile Internet Firm Tahoe Launches with $38M First Round
		 mail? top
		
		 SAN JOSE, Calif.  (VENTUREWIRE) -- Newly launched Tahoe Networks, a 
developer of networking infrastructure for mobile data networks, announced 
the completion of a $38 million first round led by Redpoint Ventures, with 
participation from Accel Partners. Geoff Yang of Redpoint and Jim Goetz of 
Accel are taking seats on Tahoe's six-member board of directors. Tahoe said 
the financing would be used for product development, sales, and to increase 
its staff of 50 to over 120 by the end of the year. The company said it 
expects to launch commercially in the latter half of 2002. Mika Uusitalo, the 
former CTO of Sonera, heads Tahoe Networks' European office in  Tampere, 
Finland. Tahoe Networks was founded in January 2001 by CEO Anthony Alles and 
president and CTO Arthur Lin, formerly Cisco executives and the co-founders 
of Shasta Networks. Nortel Networks acquired Shasta Networks in April 1999 
for $340 million. 
		http://www.tahoenetworks.com
		
		
		Accelerator Startups.com Changes Model & Name, Cuts 30%
		 mail? top
		
		 NEW YORK (VENTUREWIRE) -- Startups.com, previously a company accelerator, 
said it changed its business model to become a market intelligence firm, 
changed its name to Startups, Inc., and laid off 11 of its 35 member staff in 
its latest round of layoffs. The company will still offer some of the same 
services to startup companies, but its primary clients will now be service 
providers to which the firm will offer online decision support tools, market 
insights, and help with facilitating relationships with startups. CEO Donna 
Jensen said the company will no longer go out and physically set up 
companies. At the end of January, Startups said it was preparing to lay off 
some of its then 65-member staff. Ms. Jensen said the company cut those 
employees involved with services it no longer offered and the company will 
hire more staff for its new products and services. She said Startups, which 
will most likely be back to having a 35-member staff by the end of the year, 
has enough funding to last through the end ! of next year when the company 
expects to be profitable. Startups has raised $15 million over two rounds of 
funding. Backers include Redleaf Venture Management, Garage.com, Constantin 
Partners, CrossFire Ventures, Roni Capital, Staenberg Venture Partners, 
Venture Factory, and individuals.  
		http://www.startups.com
		
		
		Hermes Set to Invest $965M for BTPS in Companies and Funds
		 mail? top
		
		 LONDON (VENTUREWIRE) -- Hermes Pensions Management, the manager of the 
British Telecommunications Pension Scheme (BTPS) and other pension funds, 
said BTPS had allocated $965 million for investing in private companies and 
funds that invest in private companies. Hermes said it will invest up to $50 
million in the Botts Capital Partners 2 fund, a recently started fund managed 
by the London-based private investment bank Botts & Co. In addition, Hermes 
said it has committed $7.1 million for a 10.5% equity stake in Botts & Co. 
and has the option to invest an additional $7.1 million to gain up to 21% 
equity in Botts. Tony Watson is the chief investment officer for Hermes. 
Hermes Pensions Management has $71.5 billion in assets under management. 
		http://www.hermes.co.uk
		
		
		OffRoad Capital Splits into Two Divisions, Lays Off 50%  
		mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- OffRoad Capital, an online private securities 
and technology firm that helps raise funding for startups and venture funds 
using its online network, said it is reorganizing into two independent but 
related businesses: OffRoad Technologies and OffRoad Capital. Both businesses 
will be subsidiaries of OffRoad, Inc., the new name for the parent holding 
company. The firm also said it will cut 50% of its staff, from 60 to 30 
employees. OffRoad said the reorganization and reductions will lower its 
capital requirements and give it flexibility for financing and growing the 
businesses independently of each other. OffRoad Technologies will focus on 
marketing its private finance technology platform and services. OffRoad 
Capital, the company's investment banking business, will continue to operate 
under the OffRoad Capital name and will be headed by its current leaders 
Richard Bowman and Tripp Brower. John A. Forlines III and David B. Weir, 
co-CEOs of OffRoad, have both resigned, but w! ill remain on the board of 
directors of OffRoad Inc. Stephen D. Pelletier, OffRoad's founder and 
chairman, resumes the role of CEO of the holding company. The company made 41 
layoffs in February after a $6 million round of funding. OffRoad's backers 
include Mayfield Fund and ING Barings. 
		http://www.offroadcapital.com
		
		
		new money
		?
		InterWest Makes Series A Investment in Pharma Company Algorx
		 mail? top
		
		 MENLO PARK, Calif. (VENTUREWIRE) -- InterWest Partners, a venture firm in 
Menlo Park, Calif., has told VentureWire that it has made an undisclosed 
Series A investment in Wilton, Conn.-based Algorx Pharmaceuticals, a company 
developing prescription pain relief medications. Together with J.P. Morgan 
Partners and Sofinova Ventures, Algorx has raised a total of $1.5 million. 
Each firm has received a board seat as a result of its investment. The 
company may land as much as $9 million in the round if it meets various 
milestones, said InterWest senior associate Chris Ehrlich. Algorx was 
developed in house at InterWest Partners. Algorx will use the Series A 
funding for product development and other purposes.       
		http://www.algorx.com   
		
		
		Alphamosaic Spins Out from Arthur D. Little with $9 Million
		 mail? top
		
		 CAMBRIDGE, U.K. (VENTUREWIRE) -- Alphamosaic, which designs fabless 
semiconductor chips for mobile video, announced spinning off from Arthur D. 
Little and securing $9 million in venture funding from Prelude Trust. Prelude 
director Alan Duncan will become the fourth member of the board as a result 
of the funding. The company said it will use the funds for product 
development. The company said it expects the funding to last until early 
2002. Alphamosaic began developing technology at Arthur D. Little's 
technology arm Cambridge Consultants last May. 
		http://www.alphamosaic.com
		
		
		Fiber-Optics Components Firm Comlase Gets $3.5M Series A
		 mail? top
		
		 STOCKHOLM (VENTUREWIRE) -- Comlase, a Swedish developer of active components 
for metropolitan fiber-optics networks, said it has received Series A 
financing of $3.5 million from European Equity Partners and 
InnovationsKapital. The company plans to dedicate the new funds to chip and 
module development. Comlase was founded in January 2001.
		http://www.comlase.com
		
		
		Mobile Apps Firm Xora Secures $7M Round One
		 mail? top
		
		 MOUNTAIN VIEW, Calif. (VENTUREWIRE) -- Xora, a provider of wireless and 
speech-enabling data applications, announced that it has secured $7 million 
in a first round of venture funding led by Wit SoundView Ventures, with 
unnamed individuals participating. The company plans to use the new funds for 
marketing and research and development. Post-money, the company is valued at 
$18 million. As a result of this financing, Ned Carlson, senior vice 
president of Wit SoundView Ventures, joined as the third member of the Xora 
board of directors, which still has two seats open. Xora plans to seek a 
second round between $15 million and $20 million by the end of this year and 
expects it to close in the first quarter of 2002. 
		http://www.xora.com
		
		
		E.Intelligence Caps $8M Round Two Led by Commonwealth
		 mail? top
		
		 MINNEAPOLIS (VENTUREWIRE) -- e.Iintelligence, which provides software for 
demand chain management, said it has closed an $8 million second round led by 
new investor Commonwealth Capital Ventures with participation from other new 
investors Brightstone Capital, Barnard & Co., and Discovery Ventures. 
Existing investor JMI Equity Fund, which had held a majority of the company 
after round one, participated in this round but did not maintain its share. 
First round investor SPSS did not reinvest. Post-money, the company garnered 
a valuation of about $20 million in this up round. Justin Perreault, general 
partner at Commonwealth Capital, and Arnold Silverman, principal of Discovery 
Ventures, join the board, bringing the total number of directors to six. 
Funds will be used for marketing and sales and are expected to last for at 
least a year. e.Intelligence expects to become cash flow positive in 2002.
		http://www.eintelligence-inc.com
		
		
		Foundstone Closes Series B at $9 Million
		 mail? top
		
		 IRVINE, Calif. (VENTUREWIRE) -- Foundstone, which provides managed and 
professional security assessment services and education, said it closed its 
Series B at $9 million with funding from new investors Riordan, Lewis & 
Haden, and Wilson; Sonsini, Goodrich, & Rosati; and return investor OVP 
Venture Partners, which invested $2.7 million. The company said that the 
money will be used for business development, sales and marketing, and 
research and development. In March 2000, Foundstone announced it had launched 
and raised $3 million in first-round financing from OVP.
		http://www.foundstone.com
		
		
		Customer Services Firm Yube Gets $2 Million in Series B 
		mail? top
		
		 SANTA CLARA, Calif. (VENTUREWIRE) -- Yube, a provider of Web-based software 
for customer services, announced that it has raised $2 million from Labrador 
Ventures in its first closing of a Series B round financing. Yube plans to 
use the new capital for sales and marketing expansion. The company expects to 
raise an additional $5 million before closing the round within the next few 
months. Larry Kubal, a managing director at Labrador, currently holds a seat 
on the company's three-member board of directors, which also includes private 
investor Reza Mikaili. The company expects to make two appointments to its 
board once the Series B is completed. To date, Yube has raised $4 million in 
venture capital, and has a valuation of $10.5 million. 
		http://www.yube.com
		
		
		eVentures Group Takes Minority Stake in White Amber
		 mail? top
		
		 LAKE SUCCESS, N.Y. (VENTUREWIRE) -- White Amber, a provider of Web-enabled 
staffing management services, said it has received an undisclosed amount of 
strategic financing from First Union's eVentures Group. The company plans to 
dedicate the new funds to sales and marketing. In conjunction with the 
minority stake, White Amber announced that First Union has decided to 
implement its flagship staffing technology to manage its contract workforce. 
To date, White Amber has raised approximately $32 million in two rounds of 
financing. Previous venture investors include Infinity Capital Venture Fund, 
Venrock Associates, and RRE Ventures.
		http://www.whiteamber.com
		
		
		Beyond Genomics Secures $5 Million Strategic Investment
		 mail? top
		
		 CAMBRIDGE, Mass. (VENTUREWIRE) -- Beyond Genomics, which is developing a 
systems biology platform to provide new insights into molecular mechanisms of 
health and diseases, announced that it has secured a $5 million strategic 
equity investment from Elan Corp., a pharmaceutical company focused on 
Alzheimer's disease therapeutics and diagnostics. The investment was made as 
part of partnership between the two companies to jointly apply novel systems 
biology technologies in Alzheimer's disease research. Beyond Genomics was 
co-founded by NewcoGen, a unit of NewcoGen Group, and has received $5.5 
million of Series A funding from NewcoFunds and OneLiberty Ventures. 
		http://www.beyondgenomics.com
		
		
		Korean Online Transaction Firm Cpocket Gets $1.1M
		 mail? top
		
		 SEOUL, Korea (VENTUREWIRE) -- Cpocket, which provides billing and payment 
services online, has raised KRW 1.5 billion ($1.1 million) from Korea 
Development Bank and KDB Capital, according to president K. H. Kim. 
Post-money, the company has a valuation of $20 million. Funds will be used 
for infrastructure and are expected to last until September. The company 
expects to have $3 million in revenues this year. 
		http://www.cpocket.com
		
		
		Embark Gets $3 Million, Bringing Series F to $8 Million
		 mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- Embark, which provides software for higher 
education, said it has secured $3 million from Norwest Venture Partners, Doll 
Capital Management, and Morgan Stanley Dean Witter Venture Partners, bringing 
Series F funding to $8 million. The company, which received $5 million in 
debt financing from those three investors in November, declined to say 
whether the debt financing converted to equity. The company said that funds 
will be used for product development.
		http://www.embark.com
		
		
		Orange to Become Third Co-owner in 3G Infrastructure
		 mail? top
		
		 STOCKHOLM (VENTUREWIRE) -- Orange, a wireless communications company, said 
it has signed a letter to buy a third of of 3G Infrastructure, a joint 
venture between Europolitan Vodafone and Hi3G Access that will provide 3G 
mobile telephony infrastructure. 3G will operate in areas outside of 
Goteborg, Malmo, and Stockholm. Orange is owned by France Tlcom, Bredband 
Mobil, Skanska, NTL, and Schibsted. Hutchison Whampoa has a 60% stake in Hi3G 
and Sweden's Investor AB holds the remaining 40%. 
		http://www.orangecommunications.nu
		
		
		bad news
		?
		Linux-based Software Developer Eazel Closes
		 mail? top
		
		 MOUNTAIN VIEW, Calif. (VENTUREWIRE) -- Eazel, a developer of user-interface 
software and system management services for Linux, said it has ceased 
operations. In a note posted on its Web site, the company said it could not 
secure additional funding. The company laid off 40 of its 75 employees two 
months ago, citing the difficult funding environment and its efforts to 
release a new product, a services platform slated for roll out this spring. 
The company had already launched its first product, Nautilus I, a front-end 
client product. In the note, the company stated "We are confident ... that 
Nautilus' development will continue forward." The company raised 
approximately $15 million over two rounds of funding. Backers included Accel 
Partners. When asked last Friday about a possible shutdown, Eazel said it had 
no comment. The company's phone has since been disconnected. Accel Parnters 
did not return calls. Eazel was founded by several widely-known veterans of 
Apple Computer, including Mike Boich, Andy Hertzfeld! , and Mike Homer.
		http://www.eazel.com
		
		
		RoundArch Cuts 12% of North American Staff
		 mail? top
		
		 CHICAGO (VENTUREWIRE) -- RoundArch, a provider of customer relationship 
services, said it cut approximately 34 people, or 12% of its 290 member 
staff, from its North American offices. The company said the cuts were 
prompted by a need to adjust the company's size to current growth 
projections. The company said that all of the laid-off employees received 
severance. RoundArch said it is profitable and has no plans to seek 
additional funding. The company was founded in May 2000 with $10 million from 
Deloitte Consulting, Broadvision, and the WPP Group. RoundArch also has 
offices in Toronto and London.
		http://www.roundarch.com
		
		
		new products
		?
		Online and Analytical Consultancy Compete Announces Launch
		 mail? top
		
		 BOSTON (VENTUREWIRE) -- Compete, which provides online and analytical 
consulting services focused on customer intelligence, announced its launch. 
Founded in August 2000, Compete offers Compete First Take, an online 
subscription service that provides metrics; Industry Capsule, which looks at 
subjects like online brokerage and financial information sources; and 
consulting services. Compete is backed by Charles River Ventures and 
idealab!. Man Jit Singh is the company's CEO. 
		http://www.compete.com
		
		
		EdgeMatrix and MobileOne Form Wireless Intellect Labs
		 mail? top
		
		 SINGAPORE (VENTUREWIRE) -- Edgematrix, a developer of information 
infrastructure technology products and professional services, and MobileOne, 
a mobile operator, announced they have agreed to form Wireless Intellect 
Labs, an independent wireless research center that will focus on wireless 
broadband software, and multichannel commerce and transactions. Both 
companies will invest $1 million to fund the center in the first year. 
Wireless Intellect Labs will begin operations in the third quarter, and will 
license its technology to telecommunications operators and manufacturers. 
Approximately 10 employees will staff the company. The company also expects 
to hire a general manager by the third quarter. Mr. Varun Arora, senior 
director of planning and development at EdgeMatrix, will head the research 
center. EdgeMatrix is backed by over $12 million from 3i, Agency.com, and 
NetworkAsia. MobileOne is backed by Keppel Group, Singapore Press Holdings, 
and Greater Eastern Telecommunications. 
		http://www.edgematrix.com
		http://www.m1.com.sg
		
		
		Sightward Launches and Introduces First Product
		 mail? top
		
		 BELLEVUE, Wash. (VENTUREWIRE) -- Sightward, a predictive analytics company, 
said it launched and will begin offering products. The company recently 
changed its name from Applied Inference, but has not changed its direction as 
a result of the new name, a company spokeswoman said. In 1999, CTO Rod Cook 
founded Sightward and is a member of the six person board. Kevin Klustner is 
the company's president and CEO. The company has raised $5 million to date 
from Northwest Venture, Fluke Venture Partners, Timberline Venture Partners, 
eFund, and an undisclosed individual. 
		http://www.sightward.com
		
		
		Terrace Mountain Changes Name to Impart Technology
		 mail? top
		
		 AUSTIN (VENTUREWIRE) -- Terrace Mountain Systems, a provider of software for 
embedded wireless services, said it has changed its name to Impart 
Technology. The company, which had previously provided consulting services 
for embedded communication systems, has refocused on its software business. 
Impart expects to launch its first product in about four weeks. To date, the 
company has raised $2.5 million in two rounds from AV Labs, Convergent 
Investors, G51 Capital, and Techxas Ventures. Impart expects to begin raising 
$5 million to $7 million in Series C funding within 60 days.
		http://www.imparttech.com
		
		
		m&a
		?
		All Bases Covered Makes Second Acquistion in a Week
		 mail? top
		
		 REDWOOD CITY, Calif. (VENTUREWIRE) -- All Bases Covered (ABC), which 
provides IT consulting and outsourcing services for small offices, said it 
has acquired Mission Critical Systems, an outsourced IT services provider to 
Denver's legal community, in a cash and stock deal. Full terms of the 
transaction were not disclosed. Mission Critical employed five people that 
will move into ABC's offices. Earlier this week, ABC announced it acquired 
Boston-based Advanced Network Technology Services (ANTS), a technology 
service provider. ABC has raised $77 million to date from backers Ironwood 
Capital, Red Rock Ventures, and Technology Crossover Ventures. ABC was 
founded in October 1997. 
		http://www.allcovered.com
		
		
		Princeton eCom Buys Venture Finance Software from Intuit
		 mail? top
		
		 PRINCETON, N.J.  (VENTUREWIRE) -- Princeton eCom, which provides electronic 
billing and payment services to corporations and banks, said it acquired 
Intuit's online bill and payment service, Quicken Bill Manager, and all the 
outstanding shares of  Venture Finance Software, a wholly owned subsidiary of 
publicly traded Intuit. Financial details of the deal were undisclosed. As 
part of the deal Intuit has the option to take a 20% equity stake in 
Princeton or the cash equivalent in February 2002. Princeton also said it 
made employment offers to the 25 employees from Intuit's Quicken division and 
plans to open an office in the vicinity of Intuit's Quicken offices in 
Mountain View, Calif. Princeton eCom raised $20 million in convertible debt 
in April from existing investors Mellon Ventures and New Century Equity 
Holdings. The company has raised over $104 million from BT Investment 
Partners; Bottomline Technologies; Mellon Ventures; New Century Equity 
Holdings, which owns 42.5% of the firm; SG Capital P! artners; and Terra 
Lycos Ventures.
		http://www.princetonecom.com
		
		
		Net Printing Products Firm PrintCafe Buys Assets of Impresse
		 mail? top
		
		 PITTSBURGH (VENTUREWIRE) -- printCafe, which provides Internet-based, 
business-to-business products and services for the printing and publishing 
industry, announced it has acquired all of the intellectual property assets 
of Impresse, a provider of Internet commerce services focused on commercial 
printing procurement that has gone bankrupt, for an undisclosed amount. 
printCafe purchased the assets from Sherwood Partners, a technology business 
advisory firm, that is the assignee of Impresse's assets for the benefit of 
its creditors. Last October, following the resignation of its CEO Nimish 
Mehta, Impresse laid of an undisclosed number of employees. Impresse, which 
has since shut down, was funded by Adobe Ventures, Amerindo Investment 
Advisors, Atlas Ventures, BancBoston Ventures, Benchmark Capital, Comdisco, 
Gilbert Global Equity Partners, Hambrecht & Quist Ventures, JW Seligman & 
Co., Kleiner Perkins Caufield & Byers, Palantir Capital, and Van Wagoner 
Capital Management. printCafe, which has raised ! $113 million in funding to 
date, is backed by Creo Products; Prography Systems; HarbourVest Partners; 
Weiss, Peck & Greer; and  Mellon Ventures.  
		http://www.printCafe.com
		
		
		Lost Boys, Incubation and Design Firm, Makes Acquisitions
		 mail? top
		
		 AMSTERDAM (VENTUREWIRE) -- Lost Boys, a pan-European provider of incubation 
and new media services based in the Netherlands, said it has merged with the 
German branding and design firm MetaDesign. MetaDesign also has operations in 
Zurich and San Francisco. The merger with MetaDesign comes two days after the 
company announced the acquisition of French interactive technology company 
Lab Production. Lost Boys is backed Roel Pieper, which took an undisclosed 
equity stake in the company in 1998. In May 2000 the Amsterdam-based firm 
acquired two Dutch companies, Netcast, an Internet business-to-business 
services firm, and Internet consulting firm MVLG. The Lost Boys incubator has 
launched one company, NedCargo, an online marketplace for ocean container 
transportation.
		http://www.lostboys.com
		
		
		Pitman Acquires Online Printing Equipment Firm PrintNation
		 mail? top
		
		 TOTOWA, N.J. (VENTUREWIRE) -- Pitman, which provides digital imaging 
services, traditional pre-press and pressroom products, announced it has 
acquired PrintNation, an online printing equipment and supplies store, for an 
undisclosed amount. Pitman said it will retain the PrintNation name for the 
e-commerce site, which will be relaunched this month with Pitman's full 
product line. Founded in 1906, Pitman has 20 fully-stocked warehouse 
locations across the U.S. Pitman said it will continue to support its own web 
site at www.pitman.com for customer information, support services, product 
sales, technical resources and industry information. PrintNation was funded 
by Lehman Bros. Venture Partners, Partech International, U.S. Venture 
Partners, and Venrock Associates.
		http://www.pitman.com
		http://www.printnation.com
		
		
		Poster Firm Bignose Acquires Photo Finishing Site Eframes
		 mail? top
		
		 BREMERTON, Wash. (VENTUREWIRE) -- Bignose.com, a provider of custom 
large-format printing products, said it acquired San Francisco-based 
eframes.com, a supplier of custom framed prints and online photo finishing. 
Financial terms of the deal were not disclosed. Eframes will operate as a 
division of Bignose, but  will consolidate its administration and Web 
development with Bignose. Brian Dunham, president of eframes.com, will serve 
as president of the eframes division. A Bignose spokesperson said the company 
will be taking on all five eframes employees. Last September, Zing Network, 
an online photo service, acquired eframes but then spun it out again into a 
stand-alone company a few months ago, Mr. Dunham said. Eframes.com has 
received funding from Villante Capital Partners. Bignose.com is self-funded. 
		http://www.bignose.com
		http://www.eframes.com 
		
		
		eKit.com Buys Call Sciences' International Calling Card Biz
		 mail? top
		
		 EDISON, N.J. (VENTUREWIRE) -- Call Sciences, an international corporation 
that develops and markets unified communications services, announced it has 
sold its international calling card business to eKit.com, an internet and 
communications provider specializing in the travel industry. A Call Sciences 
spokesman declined to disclose the financial terms of the transaction and 
could not say if the sale would affect any of Call Science's employees. 
However, He said that the proceeds of the sale will go to finance its recent 
acquisition of Vocal Link, a communications services provider specializing in 
e-mail hosting and voice-activated messaging. Call Sciences acquired Vocal 
Link for an all-stock deal valued around $15 million. Call Sciences is backed 
by the Chatterjee Group. eKit.com is backed Escor, Allen & Buckeridge and AMP 
Private Capital UK.   
		http://www.callsciences.com
		http://www.ekit.com
		
		
		new directors
		?
		Clarity Names First Chairman 
		mail? top
		
		 TROY, Mich. (VENTUREWIRE) -- Clarity, which provides software products for 
voice-activated telecommunications and human-to-machine interfaces, said it 
appointed John H. Duerden as its first chairman. Mr. Duerden was CEO of 
Lernout & Hauspie until he left in January 2001 due to differences with the 
company's board. Lernout & Hauspie was being investigated by the SEC at the 
time over its historical accounting and operational practices. Clarity is 
backed by Duchossois TECnology Partners, Sloan Ventures, individual 
investors, and other undisclosed institutions. President and CEO Raymond Gunn 
is also a member of the seven-person board. Mr. Duerden was introduced to the 
company through Robert Frost, a partner of Investor Access and a member of 
Clarity's advisory board. 
		http://www.clarityco.com
		
		
		new people
		?
		SmartBargains Appoints Former Barnes&Noble.com Exec to CEO
		 mail? top
		
		 BOSTON (VENTUREWIRE) -- SmartBargains.com, an online retailer of bargain and 
closeout merchandise, said it appointed Carl S. Rosendorf as its new CEO and 
board member. He replaces interim CEO and current board member Malcolm L. 
Sherman, the chairman of the board at Gordon Brothers. Mr. Rosendorf spent 
the last four years with Barnes&Noble.com as an executive vice-president for 
e-commerce. He was introduced to the company through Ossining, N.Y.-based 
executive search firm Ramsey Beirne Associates. Founded in September 2000, 
SmartBargains raised $33 million in one round of funding from Highland 
Capital Partners, America Online, Dorset Capital, General Catalyst, Berkshire 
Partners, Madison Dearborn, and Gordon Brothers Group.  
		http://www.smartbargains.com
		
		
		Creative Planet Promotes CFO to President
		 mail? top
		
		 LOS ANGELES (VENTUREWIRE) -- Creative Planet, a business-to-business 
technology and information services firm for media industry professionals, 
announced it has promoted its chief financial officer, Kelyn Brannon, to 
president. Ms. Brannon, who joined Creative Planet late last year, will 
report to Chairman and CEO Allen DeBevoise and will head operations, 
including the company's newly established Movie Magic Producer and Studio 
System business unit. Before joining Creative Planet, Ms. Brannon was chief 
accounting officer of Amazon.com. Creative Planet, which plans to break even 
in 2002, has raised nearly $100 million in funding to date. Investors in the 
company include Ares Management, Chase Capital Partners, East River Ventures, 
J. & W. Seligman Funds, PaineWebber Capital, SunAmerica Investments, Times 
Mirror Chandler Trust Ventures, Trekk Opportunity Partners, and Waterview 
Advisors.
		http://www.creativeplanet.com
		
		
		CyLex Systems Appoints New President & CEO
		 mail? top
		
		 BOCA RATON, Fla. (VENTUREWIRE) -- CyLex, which provides services for the 
management and organization of data, announced the appointment of Bill E. 
Newell as president and CEO. Mr. Newell replaces co-founder Zijad Aganovic, 
who has been named chairman of the board. Mr. Newell most recently served as 
vice president of Safeguard Scientifics, where he provided managerial and 
strategic guidance to selected portfolio companies. He has also held 
president and CEO positions for companies including US Data, Micro Dynamics, 
and PPS/Husky Computers. As president and CEO, Mr. Newell will report to the 
company's seven-member board of directors, which includes Brian Schwartz, 
managing director of HIG Ventures, and Bjorge Gretland, managing partner and 
head of NorgesInvestor Vekst AS. To date, CyLex has raised approximately $20 
million in three rounds of funding. Backers include Alpine Venture Capital 
Partners, Antares Capital Fund III, Carnegie ASA, Documentum, Greer 
Investors, H.I.G. Documents, NorgesInvestor Vekst, ! and Stonehenge Capital.
		http://www.cylexsys.com
		
		
		Net Security Firm Zone Labs Names First President and COO
		 mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- Zone Labs, which develops Internet security 
software, announced it has appointed Irfan Salim as the company's first 
president and COO. Gregor Freund, CEO and co-founder, had previously held 
those responsibilities. Mr. Salim, who was introduced to the company through 
mutual contacts at Zone Labs, had previously served as president of U.S. and 
European operations for Trend Micro. He had also served as president and CEO 
of Software Publishing Corp. Zone Labs is backed by EastWest Ventures, Intel, 
Oxford Bioscience, Pacific Venture Group, and John McAfee.
		http://www.zonelabs.com
		
		
		PrivateExpress Appoints New President & CEO
		 mail? top
		
		 SAN MATEO, Calif. (VENTUREWIRE) -- PrivateExpress, a provider of security 
software for Internet-based business communications, said that it has 
appointed Richard W. Ormond to president and CEO. Mr. Ormond most recently 
served as chief operating officer at e-commerce provider Glovia 
International, a subsidiary of Fujitsu Limited. He replaces Jim Levy, who was 
interim chief executive officer and will remain with the company as chairman. 
Mr. Ormond also joins as the seventh member of the board, which includes 
Alberto J. Yepez, president of Entrust Ventures, Philip Wang, president of 
F.V.I.G. Fortunetech Partners, Susan E. Hopkinson, vice president of Nomura 
Securities International, David Wynne, senior vice president of Transpac 
Capital, and private investor Eugene Flath. To date, PrivateExpress has 
received $20 million in venture financing. Investors include Entrust 
Ventures, F.V.I.G. Fortunetech Partners, Harbinger Venture Management, Nomura 
Securities International, and Transpac Capital.
		http://www.privateexpress.com
		
		
		EVLogix Officially Appoints Founder as President & CEO
		 mail? top
		
		 DEERFIELD BEACH, Fla. (VENTUREWIRE) -- EVLogix, a provider of Web-based 
supply chain management software for mid-sized businesses, said it appointed 
founder Andreas Kozma as chief executive officer and president. Before 
starting the company, Mr. Kozma was head of European development at 
Nutraceutics, a pharmaceutical company. The company officially launched in 
January and is backed by undisclosed individuals. EVLogix said it is 
currently seeking to raise its first round.
		http://www.evlogix.com
		
		
		vc fund news
		?
		Israeli Telecom Firm Bezeq Teams Up to Start $50M VC Fund
		 mail? top
		
		 TEL AVIV (VENTUREWIRE) -- Bezeq, an Israeli national telecommunications 
provider; Discount Capital Markets, an investment firm; said they are 
establishing Stage-One Ventures, a new $50 million venture capital fund. The 
fund will focus on seed investments in communications startups. Bezeq said it 
will invest $20 million, while Discount Capital Markets will invest at least 
$10 million. Yuval Cohen, managing director of Clal Group's Infinity fund, 
and Adam Gaash, a former managment team member of ECI and RAD Group, will 
manage the fund. Bezeq has invested in two other Israeli venture capital 
firms, BRM Capital and Eurofund 2000. 
		http://www.bezeq.co.il
		
		
		vc personnel
		?
		Encompass Ventures Adds New Associate to Team
		 mail? top
		
		 BELLEVUE, Wash. (VENTUREWIRE) -- Encompass Ventures Management said it has 
added Rob Jacobs as an associate. Mr. Jacobs will help portfolio companies to 
evaluate international market opportunities. The firm currently has $65 
million under management and 23 portfolio companies, and is raising a $100 
million fund. Encompass Ventures has a staff of two managing partners, one 
senior associate, and one associate.
		http://www.encompassventures.com
		
		
		Atlas Venture Names Entrepreneur as Venture Partner
		 mail? top
		
		 NEW YORK (VENTUREWIRE) -- Atlas Venture, an international venture capital 
firm investing in communications, information technology, and life sciences 
companies, said it named Bill Bryant as a venture partner at Atlas Venture's 
Seattle office, which opened in January. Mr. Bryant co-founded Qpass, a 
provider of digital commerce services, where he served as CEO until 1998 and 
as chairman until January 2001. He currently serves as the chairman of the 
company's advisory board. Mr. Bryant alos co-founded and served as president 
of Netbot, which was acquired by Excite@Home. Atlas Venture's most recent 
investments on the West coast include Asta Networks, a Seattle-based provider 
of network reliability and management services, and Mspect, a Sunnyvale, 
Calif.-based provider of performance measurement services for the mobile 
internet. Founded in 1980, Atlas Venture has six international funds and 
manages more than $2.5 billion in committed capital. It recently closed a 
$950 million venture fund.  http://www.atlasventure.com
		
		
		vw corrections
		?
		MolecularWare
		 mail? top
		
		 NEW YORK (VENTUREWIRE) -- A story in Friday's VentureWire about 
MolecularWare's new funding from KnowledgeCube incorrectly omitted Aspen 
Investment Group as a prior investor in the company.
		
		
		company index
		top
		
		Algorx Pharmaceuticals, All Bases Covered, Alphamosaic, Atlas Venture, Beyond 
Genomics, Bezeq, Bignose.com, Call Sciences, Clarity, Comlase, Compete, 
Cpocket, Creative Planet, CyLex Systems, DataSynapse, e.Intelligence, Eazel, 
EdgeMatrix, eframes.com, eKit.com, Embark.com, Encompass Ventures, EVLogix, 
Flatiron Partners, Flatiron Partners, Foundstone, Hermes Pensions Management, 
Impart Technology, Kodiak Venture Partners, Lost Boys, MobileOne, OffRoad 
Capital, Orange, Pitman Company, Princeton eCom, printCafe, PrintNation.com, 
PrivateExpress, Roundarch, Sightward, smartBargains, Startups, Tahoe 
Networks, White Amber, Xora, Yube.com, Zone Labs 
		
		
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		investor index
		top
		
		Barnard & Co., Brightstone Capital, Commonwealth Capital Ventures, Discovery 
Ventures, Doll Capital Management, Elan, European Equity Partners, First 
Union Capital Partners, InnovationsKapital, InterWest Partners, J.P. Morgan 
Capital, JMI Equity Fund, KDB Capital, Korea Development Bank, Morgan Stanley 
Dean Witter Venture Partners, Norwest Venture Partners, OVP Venture Partners, 
Prelude Trust, Riordan Lewis & Haden, Sofinnova Ventures, Wilson Sonsini 
Goodrich & Rosati
		
		
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