?	
?	VentureWire
	Tuesday, May 22, 2001		?
?	CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND	VentureWire Index
		'VentureWire
		today: 737.6 ? +3.36%	?
? 		
		
		top stories
		
		  Kodiak Venture Partners Closes Fund II with $290M
		  Mercury Pays $147M for Freshwater Software
		  Manufacturing Services Firm Celetron Lands $48M Round One 
		 TVM Has First Close on New Life Science Fund
		
		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 
		Lucent's Investment Pace Slows
		By Matthew Sheahan
		Lucent Venture Partners, the venture capital unit of Lucent Technologies, is 
now investing from its third fund, though at a slower pace than in years 
past, according to managing partner Ashton B. Peery. more>>
		
		
		Entrepreneurs and VC-backed company CEOs:
		* Where can you obtain FREE detailed information on the
		latest quarter'sventure funding by region, industry,
		round and stage of development?
		* Where are there FREE tools and templates for writing a
		business plan and securing venture funding?
		* And if you're a young tech company CEO, where can you
		hear other CEOs discuss the issues of the day?
		VISIT PricewaterhouseCooper's Entrepreneur Resource Center
		for this and more -->http://www.pwcmoneytree.com
		
		
		
		iCelerate Gets Series B Funds, Looks For New Deals
		By Taran Provost
		iCelerate, an application, integration and managed services firm, closed a 
new round of funding, and is on the lookout for acquisitions, sources at the 
company told VentureWire. more>>
		
		Instant Messaging Company Odigo Looking For Partnerships
		By Lizbeth Scordo
		Fresh off a new strategic partnership, instant messaging firm Odigo is 
continuing to seek more, and predicts profitability next year, Avner Ronen, 
co-founder and vice president of strategic development, told VentureWire. 
more>>
		
		
		
		
		new money
		
		  CGtime Gets $7 Million Series A
		  e-Merchandising Tech Firm MotionPoint Raises $400,000 Seed 
		 Lawson Software Raises $40M in First Round 
		 NetContinuum Raises $26M Second Round 
		 Virtual Mobile Operator Firm Spinbox Sets Up with $2.4M Seed
		  Wireless Tech Firm Danger Closes Series A with $11M
		  Air Charter Firm FlightTime Gets $25 Million Series B
		  Bluetooth Tech Firm Inventel Systemes Gets $5.3M First Round
		  Cambridge Broadband Raises $15 Million in Round Two
		  Database Management Firm Lazy Software Caps $8.6M Round One 
		 Net Consultancy Proteus Gets Series A from Lycos Ventures
		  NuVasive Raises $29.3 Million Series D
		  Celvibe Raises $2M More in Second Round
		  Financial Services Firm MiFund Raises $25 Million Series B
		  Mobile Applications Provider ViAir Gets $15M Round Two
		  Reinhardt Gets $5.3M from JBWere in Round Two
		  Supply Chain Firm SeeCommerce Raises $27 Million Series E
		  Zinio Systems Closes $5M Series B Led by NEA
		  E-Mail Management Service Akio Solutions Raises $3 Million
		  Antrim Design Systems Caps $11 Million in Series D
		  NewMarkets Raises $7.5M  in Series F Funds
		
		
		bad news
		
		  AgWeb Discloses Staff Cuts
		  Online Construction Marketplace Ironmax Cuts 30% of Staff
		  Rx.com No Longer Filling Prescriptions
		
		
		new products
		
		  AuctioNet.com Changes Name to Realm Connect
		  Voice and Data Services Firm Nextira Federal Launches
		
		
		m&a
		
		  Net Bookmarking Tech Firm Blink.com Buys BookmarksPlus
		  Everstream Acquires The MusicBooth in $10M Stock Deal
		  Primus Gets Search Engine AnswerLogic in $3M Stock Swap 
		 MindArrow Systems Buys Control Commerce in Stock Deal
		
		
		new directors
		
		  iVita Names Landmark Graphics President and CEO to Board
		  Armando Geday Joins Chameleon Board of Directors
		
		
		new people
		
		  Colorado MicroDisplay Changes Name, Juggles Execs
		  Icarian Hires Ed Koepfler as New President and CEO
		  Travel Site Viator Promotes COO Jan Knox to President
		  IKANO Appoints New President and Chief Operating Officer
		  MRM Fulfillment Appoints New President & CEO
		  DigitalMoJo Announces Thomas Joseph As New Chairman & CEO
		  Digi-Block Taps Ex Pres of Ziff-Davis Education as CEO
		
		
		vc fund news
		
		  University of Pittsburgh, Redleaf Form Tech Funding Program
		
		
		vc personnel
		
		  Baroness Sarah Hogg Set to Become 3i Chair in January
		  Dekkers Davidson Joins Charles River as Exec in Residence
		  Growth Capital Names New Executive Vice President
		
		
		vw corrections
		
		  Broadview
		  Porivo Technologies
		
		 TOP STORIES... NEW MONEY... BAD NEWS... NEW PRODUCTS... M&A... NEW 
DIRECTORS... NEW PEOPLE... VC FUND NEWS... VC PERSONNEL... VW CORRECTIONS
		
		
		top
		
		
		Time is money and time can be saved through
		effortless, streamlined Web-based enterprise
		services.
		
		As IBM preps to launch Web-based software
		allowing for smoother enterprise-application-
		integration, it will face competition from the
		likes of Hewlett-Packard, Microsoft, Oracle and Sun.
		Which will attract the greatest number of
		developers and customers in the Web-services
		arena?
		
		Hear what Steven Mills, Senior VP & Group
		Executive of IBM Software, has to say about
		IBM's latest at Enterprise Outlook, June 26 & 27.
		
		Register today:http://www.enterpriseoutlook.com/register.asp
		
		
		
		 top stories 
		?
		Kodiak Venture Partners Closes Fund II with $290M
		 mail? top
		
		 CONCORD, Mass. (VENTUREWIRE) -- Kodiak Venture Partners, a seed and 
early-stage venture capital firm, said it closed its second fund, Kodiak 
Venture Partners II (KVP II) with $290 million. The fund, initially targeted 
at $250 million, will make seed and early stage investments typically ranging 
between $500,000 and $5 million. KVP will continue to focus on 
communications, semiconductor, and software sectors in eastern North America. 
Partner Mike O'Neill said most of KVP II's investments so far have been in 
the Ottawa and Boston areas. While the company will continue to concentrate 
on those areas, it will expand into a few other cities, including Washington. 
KVP II has already invested in several companies including TeraConnect, an 
optical communications company; IceFyre Semiconductor, a developer of 
high-speed wireless connectivity chips; Sentito, a provider of network and 
telecommunications equipment; and Chaoticom, a developer of data compression 
and encryption technology.  Kodiak said all of the! institutional and 
corporate limited partners from its first fund contributed to the new fund 
along with several new institutions and individuals from the technology 
industry. Co-founder Dave Furneaux serves as managing general partner of KVP. 
Limited partners include Cisco, PMC-Sierra, Goldman Sachs, BancBoston 
Capital, and CIBC.
		http://www.kodiakvp.com
		
		
		Mercury Pays $147M for Freshwater Software
		 mail? top
		
		 SUNNYVALE, Calif.  (VENTUREWIRE) -- Mercury Interactive, a publicly traded 
provider of enterprise testing and performance management software, said it 
acquired Freshwater Software, which develops Web management tools and 
services, for $147 million in cash for Freshwater's outstanding capital 
stock. Mercury also assumed Freshwater's stock option plan. Mercury said 
Freshwater will become a wholly owned subsidiary but will retain its name, 
its Boulder, Colo.-based office, and its 64-person staff. Four of the five 
founders of Freshwater will remain with the company. Donna Auguste, the fifth 
founder and the president and CEO of Freshwater, will leave the company after 
a transition period to pursue philanthropic interests. In 1996 Freshwater 
raised $1.25 million from Mayfield Fund and Mohr, Davidow Ventures. Mercury 
received financial advice from PricewaterhouseCoopers and legal counsel from 
Davis, Polk & Wardwell.   
		http://www.freshwater.com
		http://www.mercuryinteractive.com
		
		
		Manufacturing Services Firm Celetron Lands $48M Round One 
		mail? top
		
		 SIMI VALLEY, Calif.  (VENTUREWIRE) -- Celetron International, an 
international provider of electronic and optical manufacturing services, 
announced closing a $48 million first round led by New Enterprise Associates 
(NEA) that also included Golden Gate Capital, Baring Asia Private Equity Fund 
II, Alta Partners, and an undisclosed strategic corporate investor. Celetron, 
founded in 1981 and formerly family owned, said the board was still being 
formed. However, Celetron said it expects the board to be comprised of three 
or four of its own executives as well as representatives from NEA, Golden 
Gate, Baring Asia, and the strategic corporate investor. Celetron said the 
financing would be used for accelerated development of its optical 
manufacturing division, capital equipment, and as working capital. The 
company said it had no plans for additional funding. Celetron said it earned 
$200 million in revenues in 2000 and projects to earn close to $500 million 
in 2001. Celetron currently employs 7,000 people worldwide and al! so has 
offices in India in Bombay, Delhi, and Madras and in Sri Lanka.  
		http://www.celetron.com
		
		
		TVM Has First Close on New Life Science Fund
		 mail? top
		
		 MUNICH, Germany (VENTUREWIRE) -- Techno Venture Management (TVM), a 
German-U.S. venture capital firm, announced first close of TVM V Life Science 
Ventures at EUR 70 million ($61 million) as part of its fifth generation of 
venture funds. Existing European investors and new investors in U.S. and Asia 
participated in the first close. TVM expects to target $219 million for the 
Life Science Ventures fund, though the firm expects the fund will exceed that 
target, said partner and COO for U.S. operations John DiBello. Final close 
for Life Science Ventures fund is expected in September.   Previous limited 
partners will contribute more than half the fund, while new investors will 
include European pension funds and insurance companies, American pension 
funds and endowments, and Asian government-related authorities and banks. TVM 
expects to invest approximately $8.7 million in each company, for a total of 
25 new portfolio companies over two years. Life Science Ventures will 
primarily make seed investments in early-sta! ge companies in functional 
genomics, drug discovery and development, medical devices, small molecule 
therapeutics, and peptide chemistry. Managing partner Helmut Schuehsler will 
have overall responsibility for the TVM V Life Science Ventures. Mr. 
Schuehsler also oversaw life science investments in TVM IV. The firm is also 
raising TVM V Information Technology, a $219 million fund. First close for 
that fund is expected in the third quarter of 2001, and final close in the 
first quarter of 2002. Mr. DiBello expects the fund to exceed its $219 
million target.  Like Life Science Ventures, Information Technology will 
invest approximately $8.7 million in about 25 companies over two years. The 
fund will focus on Internet infrastructure, telecommunications, and 
enterprise software. Limited partners will include European, U.S., and Asian 
banks, pension funds, and insurance companies. Friedrich Bornikoel, managing 
partner for IT investments at TVM, will oversee the new fund, as he overs! aw 
Fund IV's IT investments. Terms of the two TVM V funds are "standard" and the 
same as with previous funds, said Mr. DiBello, who disclosed a 20% carry but 
did not comment on management fees.  The firm expects to fundraise again two 
years after final close of TVM V. The TVM V funds will invest primarily in 
German and American companies, in addition to companies in Switzerland, 
Austria, Israel, and the U.K. UBS Warburg is helping TVM raise the fund. Law 
firm Testa Hurwitz is handling the fundraising in the U.S., while S.J. Berwin 
provides those services in Germany. The firm currently employs between 20 and 
25 investment professionals, and expects to add between three and four new 
partners within two years. In 2001 TVM promoted John Chapman and Hans G. 
Schreck to partner positions. TVM currently has $526 million under 
management, with investments split evenly between life sciences and 
information technology.  
		http://www.tvmvc.com
		
		
		 new money 
		?
		CGtime Gets $7 Million Series A
		 mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- CGtime, a developer of software engines to 
help brand marketers create incentive marketing programs on the Web, said it 
raised $7 million in its Series A round of funding led by New Enterprise 
Associates. Odyssey LP, individual investors, and the company's senior 
management also participated. CGtime said it will use the funding to 
accelerate development of its software. The company plans to launch its suite 
of marketing and sales applications later this year, and to market it to 
Fortune 500 companies and advertising agencies. Board members will include 
Marke Perry, general partner of New Enterprise Associates; A. Michael Spence, 
former dean of the Graduate School of Business at Stanford University and 
former dean of the faculty of arts and sciences at Harvard; and Robert V. 
Gunderson, senior partner of Gunderson Dettmer. 
		http://www.cgtime.com
		
		
		e-Merchandising Tech Firm MotionPoint Raises $400,000 Seed 
		mail? top
		
		 BOCA RATON, Fla. (VENTUREWIRE) -- MotionPoint, which develops online 
merchandising services and technology for retailers, said it secured $400,000 
in seed funding from individual investors, including Charles Vitton of BMO 
Nesbitt Burns. The company said it is currently beta-testing its products and 
plans on commercially launching with two retailers in the fourth quarter of 
this year. MotionPoint also said it would triple its six-member staff before 
the end of the year and that it plans on being profitable by the end of 2002. 
Outside investors hold 10% of the company. MotionPoint said it had a 
pre-money valuation of $5 million and would consider raising a $3 million 
round at the end of the year. Will Fleming, Stewart Padveen, Adam Rubenstein, 
and Enrique Travieso founded MotionPoint in September 2000.  
		http://www.motionpoint.com
		
		
		Lawson Software Raises $40M in First Round 
		mail? top
		
		 ST. PAUL, Minn. (VENTUREWIRE) -- Lawson Software, a provider of integrated 
e-business software applications, said it closed a $40 million first round 
led by TA Associates, which invested $30 million, with St. Paul Venture 
Capital investing the remaining $10 million. David S.B. Lang, a principal at 
TA Associates, joins Lawson's board of directors. Lawson said the financing 
would be used as growth capital and to fuel expansion. Founded in 1975, 
Lawson had 1999 and 2000 year revenues of $268 million and $313 million, 
respectively.  
		http://www.lawson.com
		
		
		NetContinuum Raises $26M Second Round 
		mail? top
		
		 SANTA CLARA, Calif. (VENTUREWIRE) -- NetContinuum, which provides Internet 
data center infrastructure, announced it has raised $26 million in its second 
round of funding led by new investor NIF Ventures, a division of Daiwa 
Securities Group. Menlo Ventures, which led NetContinuum's first round of 
funding, also participated in the round, along with new investors Adams 
Street Partners, Invus Group, and Siemens Venture Capital. Jim Timmins, a 
general partner at NIF, will join NetContinuum's board of directors. Kamal 
Anand, vice president of marketing and business development, said 
NetContinuum will use the funding to develop and launch its product. The  
funding is expected to last for 18 months, at which point NetContinuum would 
seek another round of funding. Mr. Anand said the company plans to reach 
profitability sometime in 2003. He said NetContinuum's valuation is up more 
than three to four times from the previous round. The company has 90 
employees and plans to add 40 or 50 more by the end of the y! ear. 
		http://www.netcontinuum.com
		
		
		Virtual Mobile Operator Firm Spinbox Sets Up with $2.4M Seed
		 mail? top
		
		 STOCKHOLM, SE (VENTUREWIRE) -- Spinbox, a newly formed company developing 
technology for virtual mobile operators, said it raised EUR 2.7 million ($2.4 
million) in seed funding led by Brainheart Capital and Christer Hagglund, 
founder of Proffice. Petter Bogren of Brainheart and Christer Hagglund both 
have board seats. Spinbox intends to provide hosted mobile phone services to 
enable large companies to operate their own mobile services. The company said 
the financing would be used for product development and increasing its staff 
from six to between 15 and 20. Spinbox plans on making its services 
commercially available by July. CEO Christer Palmgren, Mr. Hagglund, and 
Brainheart Capital founded the company in April 2001.    
		http://www.spinbox.se
		
		
		Wireless Tech Firm Danger Closes Series A with $11M
		 mail? top
		
		 PALO ALTO, Calif. (VENTUREWIRE) -- Danger, which develops and produces 
wireless online digital hardware, software, and services, said it raised $11 
million in its Series A round of funding led by Softbank Venture Capital. 
Undiclosed investors also participated in the round. Greg Galanos of Softbank 
Venture Capital will join Danger's board of directors. A company spokesperson 
said Danger, which launched earlier this month, will roll out its first 
product later this year.  
		http://www.danger.com
		
		
		Air Charter Firm FlightTime Gets $25 Million Series B
		 mail? top
		
		 WALTHAM, Mass. (VENTUREWIRE) -- FlightTime, a provider of technology that 
manages pricing, scheduling, and inventory of charter aircrafts, said it 
raised $25 million in a Series B round led by Amerland Holdings, with 
participation of prior investors Axxon Capital, BancBoston Ventures, 
Covestco-Seteura, and Southeast Interactive Technology Funds. The company 
said it plans to dedicate the new funds to sales and marketing expansion as 
well as to develop its technology infrastructure. As a result of this 
financing, Christopher Austen, a partner of Southeast Interactive Technology 
Funds, and Zacharias Karelas, a representative of Amerland, have joined the 
seven-member FlightTime board of directors that also includes John Doggett of 
Bancboston Ventures. The company raised $10 million in Series A financing in 
February 2000.
		http://www.flighttime.com
		
		
		Bluetooth Tech Firm Inventel Systemes Gets $5.3M First Round
		 mail? top
		
		 PARIS  (VENTUREWIRE) -- Inventel Systemes, a radiocommunications firm 
developing Bluetooth and DECT technology, said it closed its first round at 
FRF40 million ($5.3 million) led by new investor Banexi Ventures with 
participation from Innovacom, which is also a new investor. Both Banexi and 
Innovacom are taking board seats, but the representatives have not been 
determined. Inventel said it plans to have a seven-member board with two 
investor representatives, three company executives, and two outside 
directors. The company said the financing would be used for further 
technology development, marketing, and sales. Inventel also said it would 
consider a new round with U.S. investors later this year if the company met 
certain benchmarks. Inventel, founded in 1990, was profitable prior to this 
round of funding and had year 2000 revenues of $4 million and said it plans 
to make the same amount in 2001. Banexi and Innovacom own less than 30% of 
Inventel.   
		http://www.inventel.com
		
		
		Cambridge Broadband Raises $15 Million in Round Two
		 mail? top
		
		 CAMBRIDGE, U.K. (VENTUREWIRE) -- Cambridge Broadband, a developer of 
broadband wireless technology, said it raised $15 million in second round 
funding led by Gilde IT Fund, with participation from Amadeus Capital 
Partners, Kiwi II, and TVM. The new money will be dedicated to product 
development and deployment. As a result of this financing, Anton Arts of 
Gilde IT has been granted the sixth seat on the company's board of directors, 
which also includes Peter Wynn of Amadeus Capital Partners and David Cleevely 
of Analysys Group. In May 2000 the company raised $6 million in a first round 
led by Amadeus Capital Partners. Cambridge Broadband plans to raise an 
additional $5 million before closing this round within the next two months.  
		http://www.cambridgebroadband.com
		
		
		Database Management Firm Lazy Software Caps $8.6M Round One 
		mail? top
		
		 LONDON (VENTUREWIRE) -- Lazy Software, which develops a Web-enabled database 
management system, said it received an additional GBP 2.5 million ($3.6 
million)  to close its first round at $8.6 million.  The new investors are 
Commerzbank, which invested $2.9 million, and Metropolitan Venture Partners, 
which invested $720,000. In December Lazy Software received $5 million in 
first round funding from Advent Venture Partners. James Powell-Tuck of 
Commerzbank will join the board of directors. The company said the financing 
would be used for sales, research and development, and further U.S. market 
expansion.  
		http://www.lazysoft.com
		
		
		Net Consultancy Proteus Gets Series A from Lycos Ventures
		 mail? top
		
		 WASHINGTON (VENTUREWIRE) -- Proteus, an Internet consultancy that develops 
Internet, wireless, and interactive television applications, said it has 
closed Series A at an undisclosed amount with financing from Lycos Ventures. 
Brett Moraski of Lycos Ventures joins the board, bringing the total number of 
directors to five. Proteus, which has been profitable since 1996, will devote 
funds to developing interactive television and mobile products. 
		http://www.proteus.com
		
		
		NuVasive Raises $29.3 Million Series D
		 mail? top
		
		 SAN DIEGO (VENTUREWIRE) -- NuVasive, a medical company that designs, 
manufactures, and markets spine surgery systems, announced it has closed 
$29.3 million in Series D equity financing. New investor William Blair 
Capital Partners VII led the round, with participation from other new 
investors A.M. Pappas & Associates, RS Coinvestment Fund, Societe Financiere 
d'Innovation, and Sofinov. All existing investors -- Domain Associates, 
Enterprise Partners, and Kleiner Perkins Caufield & Byers -- also joined in 
this round. Post-money, NuVasive had a valuation of $75 million in this flat 
round. Robertson Stephens managed the round. William Blair and Sofinov each 
gain a seat on the board, which now has eight directors. Funds will be used 
for product development, product launch, sales, marketing, and staff 
expansion. The company employs 63 and expects to add another 10, mostly in 
sales, by the end of the year. NuVasive has raised a total of $50 million in 
financing. The company expects to become cash flow pos! itive by mid-2003, 
and may raise a small fifth round. NuVasive recently established an office in 
New Jersey and in Munich, and will focus on forming co-development, 
co-marketing partnerships that may involve equity investments.  
		http://www.nuvasive.com
		
		
		Celvibe Raises $2M More in Second Round
		 mail? top
		
		 NATANYA, Israel (VENTUREWIRE) -- Celvibe, which has developed a technology 
that enables wireless carriers to deliver live, multi-channel television 
broadcasts to wireless users in real time based on the MPEG-4 standard, said 
it has secured an additional $2 million from China Development Industrial 
Bank of Taiwan and an undisclosed Asian investor. The latest investment are 
additional installments to the company's second round of $12 million that is 
being led by the  Challenge Fund. The Challenge Fund, which has invested $8 
million in Celvibe, was joined by Poalim Capital Market Technologies, Ophir 
Technologies, Eurofund Israel 2000, and tecc-IS in the round. The company 
said it will use the funds for research and development, expansion of its 
marketing and sales, and to establish strategic partnerships with 
communications firms in the U.S., Europe, and the Far East. 
		http://www.celvibe.com
		
		
		Financial Services Firm MiFund Raises $25 Million Series B
		 mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- MiFund, a provider of financial services for 
the distribution and client management of third party mutual funds, said it 
closed on $25 million in its Series B round. The round was led by State 
Street and included Series A investors Walden Interational Investment Group, 
Partech International, and Crystal Internet Investment Fund. Gary Enos, 
executive vice president of State Street, will take a seat on the MiFund 
board of directors as a result of the investment. The company has operations 
in Dublin and Paris as well as in San Francisco, the site of the firm's 
corporate headquarters. 
		http://www.mifund.com
		
		
		Mobile Applications Provider ViAir Gets $15M Round Two
		 mail? top
		
		 SEATTLE (VENTUREWIRE) -- ViAir, a provider of mobile applications management 
and delivery platforms, said it raised over $15 million in its second round 
of financing led by Spectrum Equity Investors with participation from 3i, 
Mercury Interactive, and return investor The Barksdale Group. The company 
plans to spend the new funds for expansion into the European and Asian 
markets, as well as on product development. As a result of this financing, 
the company has appointed Victor E. Parker, a general partner at Spectrum, to 
its six-member board of directors, which also includes Peter Currie, the 
founder and partner of The Barksdale Group. In addition, the company 
announced that it has granted a board seat to Bill Owens, co-CEO and vice 
chairman of Teledesic. In May 2000, the company raised $8 million in first 
round led by The Barksdale Group, with unnamed individuals participating. 
		http://www.viair.com
		
		
		Reinhardt Gets $5.3M from JBWere in Round Two
		 mail? top
		
		 SYDNEY, AU (VENTUREWIRE) -- Reinhardt International, which operates Reino 
International, a designer and builder of digital parking meters, announced it 
has raised AUD 5 million ($2.6 million) from sole investor JB Were Private 
Equity Fund. JB Were retains an option to invest an additional $2.6 million 
in the next 12 months. Existing investor Saltbush Capital did not participate 
in this round. Bernard Stanton, executive director of JBWere Private Equity 
Fund, joins the board of directors as the sixth member. Funds will be used to 
expand product distribution as the company targets the U.S., Europe, and 
Asia. Prior to this round Reinhardt had raised $1.3 million.
		http://www.reino.com.au
		
		
		Supply Chain Firm SeeCommerce Raises $27 Million Series E
		 mail? top
		
		 PALO ALTO, Calif. (VENTUREWIRE) -- SeeCommerce, a provider of supply-chain 
performance management and improvement applications, announced it has closed 
its Series E round at $27.4 million. New investor Amerindo Investment 
Advisors led the round, which included previous investors Insight Capital 
Partners, Integral Capital Partners, Voyager Capital, Munder Capital 
Management Altamira Financial Services, SunAmerica Ventures, Task Holdings, 
Telsoft Ventures and Sierra Ventures. Siebel Systems, NetMarket Partners, and 
Charter Growth Capital also participated in the round as new investors. Jim 
Dorst, SeeCommerce's chief financial officer, said the company's valuation 
increased by 50% from the previous round, and is now over $150 million. Mr. 
Dorst said the funding is expected to last until the second quarter of 2002, 
when SeeCommerce turns cash-flow positive. The bulk of this financing was 
raised in February, but the company kept the round open for strategic 
financing, Mr. Dorst explained. He said the fundi! ng is earmarked for 
general operations and to further expand business around the world. The 
company, which has raised $66 million in funding to date, also plans to 
develop new business applications. Mr. Dorst said that if market conditions 
are favorable, SeeCommerce will seek an IPO during the second half of next 
year. SeeCommerce currently employs about 125 people, but plans to steadily 
increase its workforce to about 175 by year's end, Mr. Dorst said.  
		http://www.seecommerce.com
		
		
		Zinio Systems Closes $5M Series B Led by NEA
		 mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- Zinio Systems, which develops a content 
delivery system that enables magazines to be distributed over the Internet 
and read in their print-layout forms, announced it has closed more than $5 
million in Series B financing. New investor New Enterprise Associates led the 
round, with participation from additional new investors Odyssey Capital and 
IDEO Ventures. Stewart Alsop, general partner at NEA, joins the board, as 
does outside director Mike Edelhart; there are four directors in total. In 
February 2001 the company raised $2 million from undisclosed strategic 
investors and individuals.
		http://www.zinio.com
		
		
		E-Mail Management Service Akio Solutions Raises $3 Million
		 mail? top
		
		 PARIS (VENTUREWIRE) -- Akio Solutions, a provider of corporate e-mail 
management, said it raised FRF 23 million ($3 million) in its latest round of 
funding. The round was funded by previous investors 3i Technology, Banexi 
Ventures, and Innovacom. In January, 2000, Akio Solutions raised FRF 26 
million ($3.4 million) from the same group of investors. The company has 
operations in England, France, and Germany. The firm's customers include a 
subsidiary of French large-scale distribution firm, Carrefours Jardin, and 
Sofinco, a subsidiary of Credit Agricole Bank Group. 
		http://www.akio-solutions.com
		
		
		Antrim Design Systems Caps $11 Million in Series D
		 mail? top
		
		 SCOTTS VALLEY, Calif. (VENTUREWIRE) -- Antrim Design Systems, which provides 
electronic data automation software for semiconductor chips, said it has 
closed $11 million in a round of Series D financing. New investor iVisionary 
Fund lead the round, with participation from other new investors Mitsubishi 
and Matsushita, and all existing investors -- Brentwood Venture Capital, 
Goldman Sachs, and the Intel 64 Fund. A representative from the round will be 
appointed to the sixth seat on the board of directors. Post-money valuation 
increased from that of the previous round. Funds will be used primarily for 
research and development. The company expects to become cash flow positive by 
the third or fourth quarter this year. To date Antrim has raised $72 million.
		http://www.antrim.com
		
		
		NewMarkets Raises $7.5M  in Series F Funds
		 mail? top
		
		 SAN MATEO, Calif. (VENTUREWIRE) -- NewMarkets International, which develops 
technology for international e-payments through its foreign currency exchange 
Web site FXWeb, said it has received commitments of approximately $7.5 
million in its Series F round of funding from Quantam Venture Partners and 
individual investors. NewMarkets said it plans on closing the Series F round 
by the end of June with $15 million to $25 million. NewMarkets said it is 
currently in discussions with six to 12 international and U.S. investors to 
participate in the round. The company said the funding would be used as 
operating and security capital. Prior to the Series F round, NewMarkets 
raised $28.8 million from Accel Partners, Bay Partners, Charter Growth 
Capital, Draper Fisher Jurvetson, Jafco, Menlo Ventures, Softbank, Softbank 
Technology Ventures, and Technology Crossover Ventures.   
		http://www.sonnet-financial.com
		
		
		 bad news 
		?
		AgWeb Discloses Staff Cuts
		 mail? top
		
		 KING OF PRUSSIA, Pa.  (VENTUREWIRE) -- AgWeb.com, a business-to-business 
commerce and content site serving the agricultural market, told VentureWire 
that it cut 20 employees, or 36% of its staff due to a lack of commercial 
revenue from its satellite information service, which is being eliminated. 
The cuts, which took place in March, occurred in AgWeb.com's Des Moines, Iowa 
office and were concentrated in customer service, IT, and administrative 
positions related to the satellite division. All the laid off employees 
received severance. Eight employees in the editorial department remain in the 
Iowa office, and 27 people are employed in AgWeb.com's King of Prussia 
headquarters. The company said it was currently hiring people for its 
nationwide sales force. AgWeb.com also said it plans on being profitable in 
the fourth quarter of this year.  In addition, AgWeb.com said discussions are 
underway to acquire other venture-backed firms in its niche and expects to 
complete one such acquisition by the end of the yea! r. AgWeb.com said it has 
no plans to seek additional funding. In January 2000 AgWeb.com launched with 
$100 million from Farm Journal, Madison Dearborn Partners, and Safeguard 
Scientifics.  
		http://www.agweb.com
		
		
		Online Construction Marketplace Ironmax Cuts 30% of Staff
		 mail? top
		
		 LOUISVILLE, Ky. (VENTUREWIRE) -- Ironmax, an online marketplace for the 
construction equipment industry, said it laid off approximately 30% of its 
staff. A company spokesperson, who would not disclose the current staff 
number, said the cuts mainly affected those in the sales and marketing 
departments. The company's strategic partners, Primedia (which holds an 
equity stake in the company) and McGraw Hill now serve as Ironmax 
distribution channels. "But it was also to execute an alignment with what's 
going on in the marketplace and the economy and to trim to the current sales 
level and funding environment," said the spokesperson. "It's important to do 
what's right at the right time. It's the best thing for proactive 
management."  Ironmax raised $10 million in its Series A round of funding in 
April 2000 from CMGI@Ventures, Chrysalis Ventures, Iceberg Ventures, and 
Prosperitas Investment Partners. The spokesperson would not comment on 
whether or not the company would seek another round of fu! nding.  
		http://www.ironmax.com
		
		
		Rx.com No Longer Filling Prescriptions
		 mail? top
		
		 AUSTIN, Texas (VENTUREWIRE) -- Rx.com, which provides pharmacy items and 
health information online, has ceased day-to-day operations and is no longer 
filling prescriptions. An operator for the company's customer service 
department confirmed Rx.com had laid off employees from several departments, 
but did not know the precise amount. The operator said that the company's 
annoucement came with no explanation of how long the cessation would last or 
if the company would inevitably close down. Rx.com's Web site now directs all 
activity to its help line. The company's executives could not be reached for 
comment. In May 2000, Alliance UniChem, a publicly traded European retail 
pharmacy company, invested an undisclosed amount of money in the company. In 
July 1999, CBS entered an agreement with Rx.com for $37.5 million worth of 
advertising and promotion deals over a four-year period. CBS received 700,000 
common shares of the company, or an 20% stake, as a result of the deal.
		http://www.rx.com
		
		
		 new products 
		?
		AuctioNet.com Changes Name to Realm Connect
		 mail? top
		
		 REDWOOD CITY, Calif. (VENTUREWIRE) -- AuctioNet.com, which operates a 
private label auction network, said it changed its name to Realm Connect to 
reflect its growth from auction aggregator to a network of online 
marketplaces. Nuri Otus is the company's president and CEO. Realm Connect is 
backed by Ambex Venture Group, AP Venture Partners I, B3 Ventures, Clayton, 
Dubilier & Rice, Empire Ventures, Garage.com, Global Virtual Accelerator, 
Oracle Corp., and ZDNet. The board of directors is comprised of Michela 
O'Connor Abrams, an executive at Imagine Media; Bruce M. Lange, senior vice 
president, treasuer and head of worldwide real estate of Oracle; Chong-Moon 
Lee, chairman and CEO of AmBex Venture Group; Samuel S. Lee, managing partner 
of Bluehawk Venture Partners; and R. Nuri Otus, CEO of AuctioNet.   
		http://www.realmconnect.com
		
		
		Voice and Data Services Firm Nextira Federal Launches
		 mail? top
		
		 FAIRFAX, Va. (VENTUREWIRE) -- Nextira Federal, a company formed from the 
consolidation of the federal business components of Milgo Solutions, a 
provider of voice and data services; TimePlex Federal Systems, which provides 
networking services to the federal government; and the federal services 
division of Nextira, (formerly Williams Communications Solutions) said that 
it has offically launched operations. The new company will provide converged 
voice and data services to the civilian and defense agencies of the federal 
government.  Stephen L. Snyder, who was the president and CEO of Timeplex 
Federal Systems, has been named Nextira Federal's president. Nextira Federal 
is backed by Platinum Equity Holdings, a privately held company that acquires 
and operates international technology organizations and service companies. 
		http://www.nextirafederal.com
		
		
		 m&a 
		?
		Net Bookmarking Tech Firm Blink.com Buys BookmarksPlus
		 mail? top
		
		 NEW YORK (VENTUREWIRE) -- Blink.com, which provides free online bookmark 
technology, announced it has acquired its rival BookmarksPlus.com, for an 
undisclosed amount. A spokeswoman for Blink.com said the company will not 
retain any of BookmarksPlus.com's employees.  The BookmarksPlus Web site is 
now linked to Blink.com. Last year, Blink acquired CoolSync and BookmarkBox, 
two of its rivals in the online bookmarking market. Earlier this month, the 
company appointed former Doubleclick vice president and general manager, Eli 
Chaflin, as its new CEO. Blink's backers include Inabata, Jafco, Palisade 
Capital Management, Sandler Capital Management, Sumitomo, and Tudor 
Investment.     
		http://www.blink.com
		
		
		Everstream Acquires The MusicBooth in $10M Stock Deal
		 mail? top
		
		 CLEVELAND (VENTUREWIRE) -- everstream, which provides software for audio and 
video advertising, said it has acquired AdAcoustics and its parent company 
The MusicBooth, an online advertising services and technology company, in an 
all-stock transaction worth $10 million. The combined entity has a valuation 
of $40 million. The deal was valued based on funds raised for The MusicBooth. 
Law firm Benesch and Fiedlander advised everstream, while Mintz and Levitz 
advised The MusicBooth. Deloitte and Touche served as accountants. Two of 
nine employees from The MusicBooth will join everstream. AdAcoustics 
president Robert Wolfe will join the board of directors and serve as 
executive vice president and general counsel, while AdAcoustics board member 
Burt Manning will join everstream's board. The combined company will maintain 
offices in Cleveland and in New York. everstream has raised $8.54 million 
from Knight Ridder Venture, Gannet, Pulitzer, and CapStar Partners. The 
MusicBooth has raised more than $2 milli! on from CRM Ventures and 
Excite@Home.
		http://www.everstream.com
		http://www.musicbooth.com
		
		
		Primus Gets Search Engine AnswerLogic in $3M Stock Swap 
		mail? top
		
		 SEATTLE (VENTUREWIRE) -- Primus, a publicly traded provider of knowledge 
enabling software for customer relationship management (CRM) applications, 
said it acquired AnswerLogic, which develops answer engine CRM software 
utilizing natural language processes, for 750,000 shares of common stock in 
Primus worth approximately $3 million. Primus said that when the deal is 
finalized, AnswerLogic would become a wholly owned subsidiary and would 
continue to employ its staff and operate out of its Washington office. 
AnswerLogic's CEO Lou Pugliese will continue with the company through the 
transition period. AnswerLogic's founders Jamie Hamilton and Paul Jacobs will 
have executive positions with Primus. AnswerLogic had received $12 million in 
funding from CMGI@Ventures, which had invested $9 million, Novak Biddle 
Venture Partners, which had invested $2.6 million, and individual investors. 
Primus received legal counsel from the Seattle law firm Preston, Gates & 
Ellis.  
		http://www.answerlogic.com
		http://www.primus.com
		
		
		MindArrow Systems Buys Control Commerce in Stock Deal
		 mail? top
		
		 ALISO VIEJO, Calif. (VENTUREWIRE) -- MindArrow Systems, a publicly-traded 
company that provides direct digital marketing software and services, said it 
has agreed to acquire New York-based Control Commerce, a provider of the 
"Virtual Kiosk" e-commerce system. Details of the all-stock deal were not 
disclosed; the acquisition will close within a few weeks. The deal was valued 
based on Control Commerce's discounted cash flow, patents, and sales. Control 
Commerce had ceased marketing in October in an effort to focus on finding a 
buyer. At the time of the acquisition, the company had $1.4 million in cash. 
Three employees from Control Commerce, including co-founder Eric Wolffe, will 
join MindArrow; Mr. Wolffe will serve as vice president of business 
development. MindArrow will not retain Control Commerce's New York or San 
Diego offices. Law firm O'Melveney and Myers advised MindArrow in the 
acquisition. Drinker, Biddle, and Shanley advised Control Commerce, and 
Business Development helped the acquired com! pany find a buyer. Control 
Commerce had raised $5.5 million from ColumbusNewport, Guthy-Renker, Hudson 
Venture Partners, MacAndrews and Forbes, Millennium Hanson,  Waterview 
Partners, and William E. Simon and Sons.
		http://www.controlcommerce.com
		
		
		 new directors 
		?
		iVita Names Landmark Graphics President and CEO to Board
		 mail? top
		
		 HOUSTON (VENTUREWIRE) -- iVita, which provides applications for performance 
management of fixed-asset portfolios, said John Gibson, current president and 
CEO of Landmark Graphics, has become the sixth member of its board of 
directors. Other board members include Vic Mahadevan, chairman and CEO; 
Andrew W. Kahn, managing director and partner of Access Technology Partners; 
Robert W. Stearns, managing director of Sternhill Partners; Ken DeAngelis, 
general partner of Austin Ventures; and Somesh Singh, president and COO of 
iVita. Investors in iVita are Austin Ventures, Information Access Technology, 
Morgan Stanley Dean Witter Private Equity, and Sternhill Partners. The 
company is advised by the Houston office of law firm Baker Botts.   
		http://www.ivita.com
		
		
		Armando Geday Joins Chameleon Board of Directors
		 mail? top
		
		 SAN JOSE, Calif. (VENTUREWIRE) -- Chameleon Systems, a fabless semiconductor 
company, said Armando Geday has become the sixth member of the  board of 
directors. Mr. Geday is the current board member, president, and CEO of 
GlobeSpan. Chameleon designs, markets, and sells programmable 
system-on-a-chip applications for the communications electronics markets. Mr. 
Geday joins Charles Cump, Chameleon's chairman and vice president of sales; 
Charles Fox, president and CEO; Sam Lee, general partner of Infinity Capital; 
Russ Irwin, general partner at Convergence Partners; and Gary Little, general 
partner of Morgenthaler Ventures. Chameleon is backed by 3i Group, Argo 
Global Capital, Athena Technology Ventures, Bayview 2000, Convergence 
Partners, Crossroads Ventures, Dain Rauscher Wessels, GTG Ventures, 
Information Technology Ventures, Macnica, Merrill Lynch Kecalp, Morgan 
Stanley Dean Witter Venture Partners, Morgenthaler Ventures, Synopsys, U.S. 
Bancorp Piper Jaffray Ventures, and WK Technology Fund.
		http://www.chameleonsystems.com
		
		
		 new people 
		?
		Colorado MicroDisplay Changes Name, Juggles Execs
		 mail? top
		
		 BOULDER, Colo. (VENTUREWIRE) -- Colorado MicroDisplay, which develops 
high-resolution, full-color microdisplay applications, said it has changed 
its name to Zight. The company said that the name change reflects its growth 
and not a business model shift. Zight also shifted several members of its 
management team. Co-founder and former CEO Mark Willner will become chairman 
of the board and chief strategy officer. He replaces co-founder Bob Epstein, 
who will retain his seat on the board. The company's former president and COO 
Kennedy Roberts replaces Mr. Willner in the CEO position and will remain 
president. The company said the COO position will remain open. New board 
members were also announced. Sherel Horsley, former key business and 
marketing executive of the DLP Product Group at Texas Instruments, and Stuart 
Chapman, director at 3i -- who has been an observer of the board for the last 
nine months -- become the eighth and ninth board members. The company's 
backers are GE Capital, Texas Instruments,! Intel, InFocus, Granite Ventures, 
Mustang Ventures Fund, Vulcan Ventures, 3i, Telesystems-Argo Global Capital, 
Sequel Venture Partners, and Polaroid. The company was founded in July 1996 
by Mr. Epstein, Mr. Willner, and Douglas McKnight and closed its fourth round 
of funding in November 2000 at $34.3 million.   
		http://www.zight.com
		
		
		Icarian Hires Ed Koepfler as New President and CEO
		 mail? top
		
		 SUNNYVALE, Calif. (VENTUREWIRE) -- Icarian, which provides innovative hosted 
workforce management applications, said it appointed Ed Koepfler as its new 
president and CEO. He replaces Doug Merritt, who founded the company in 1997 
and has become vice president of sales. Its investors include Fidelity 
Ventures, Granite Ventures, Information Access Technology, J.P. Morgan H&Q, 
Kleiner Perkins Caufield & Byers, Partech International, Patricof & Co. 
Ventures, Presidio Venture Partners, Sands Brothers & Co., TMP Worldwide, Van 
Wagoner Capital Management, and Wheatley Partners. 
		
		
		Travel Site Viator Promotes COO Jan Knox to President
		 mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- Viator, a provider of travel destination 
content, technology, and distribution services, announced the promotion of 
Jan Knox to the company's first president. Ms. Knox has been with the company 
for two years and most recently served as the company's chief operating 
officer in Sydney, Australia and will relocate to San Francisco. Viator is 
backed by Australia Technology Group, Technology Venture Partners, 
Travelocity, Worldspan, and individual investors. 
		http://www.viator.com
		
		
		IKANO Appoints New President and Chief Operating Officer
		 mail? top
		
		 SALT LAKE CITY (VENTUREWIRE) -- IKANO Communications, a provider of Internet 
networking infrastructure and branded services, said it has appointed Garth 
Howard as president and chief operating officer. Mr. Howard, who most 
recently served as president of custom solutions for Convergys' customer 
management group, replaces founder Henry Smith as president. Mr. Smith will 
continue on as the company's CEO. As president and COO, Mr. Howard will 
manage the strategic direction and operations of IKANO's sales, marketing, 
finance, customer relationship management, creative, and call center offices. 
In January 2000, the company secured $11.5 million from Insight Capital 
Partners and Chicago Venture Partners.
		http://www.ikano.com
		
		
		MRM Fulfillment Appoints New President & CEO
		 mail? top
		
		 RESEARCH TRIANGLE PARK, N.C. (VENTUREWIRE) -- MRM Fulfillment, a provider of 
order management and fulfillment services to marketing organizations, 
announced the appointment of Antony Francis as president and CEO. Mr. 
Francis, who most recently served as vice president of global operations for 
publicly traded online marketplace SciQuest.com, replaces founder Ed 
Hathaway. Mr. Hathaway will continue with the company as chairman and vice 
president, business development and operations. Currently backed by 
individuals, MRM Fulfillment is actively seeking between $3 million and $5 
million in Series A financing, to close by the third quarter of this year. 
		http://www.mrmfulfillment.com
		
		
		DigitalMoJo Announces Thomas Joseph As New Chairman & CEO
		 mail? top
		
		 ATLANTA (VENTUREWIRE) -- DigitalMoJo, a provider of risk management and 
information security services, said that it appointed Thomas Joseph as chief 
executive officer and chairman of the board. Mr. Joseph replaces Robert 
McMillon, who will continue with the company as chief strategist and board 
member. Prior to joining DigitalMojo, Mr. Joseph served as vice president and 
general manager of North American operations for publicly traded network 
infrastructure consulting firm Predictive Systems. DigitalMoJo's five-member 
board of direction includes Teddy Kaplan and Gavin Ray of Meyer Duffy 
Ventures. To date, DigitalMoJo has raised $4 million in one round from Meyer 
Duffy Ventures, Predictive Systems, Formational Ventures, and unnamed 
individuals. The company is currently seeking an undisclosed amount of second 
round funding, to close in June. 
		http://www.digitalmojo.com
		
		
		Digi-Block Taps Ex Pres of Ziff-Davis Education as CEO
		 mail? top
		
		 WATERTOWN, Mass. (VENTUREWIRE) -- Digi-Block, which develops mathematics 
blocks for elementary schools, announced Bill Rosenthal will join as CEO on 
June 1, replacing Patricia Reinhardt, who is leaving the company for personal 
reasons. He was introduced to the company by executive search firm Christian 
& Timbers. Mr. Rosenthal also takes Mr. Reinhardt's seat on the board, which 
totals seven directors. Prior to Digi-Block, Mr. Rosenthal served as 
president of The Kaplan colleges, a division of Kaplan, and as president of 
Ziff-Davis Education. The company is backed by KKR and Grace Capital.  
		http://www.digi-block.com
		
		
		 vc fund news 
		?
		University of Pittsburgh, Redleaf Form Tech Funding Program
		 mail? top
		
		 PITTSBURGH (VENTUREWIRE) -- The University of Pittsburgh and Redleaf Group, 
a technology operating company that provides services and capital for very 
early stage technology companies, announced plans to create Oak Leaf 
Networks, a new program that will provide capital, services, and 
infrastructure to start-ups in southwestern Pennsylvania and northern West 
Virginia. RedLeaf Group said the new program will seek to commercialize new 
ideas at the university, as well as fund emerging technologies in the Greater 
Delaware region. Oak Leaf said it is particularly interested in information 
technologies, Internet-related technologies, and biotechnology applications 
such as bio-informatics and drug discovery software. Redleaf will manage the 
program and provide capital through its early-stage venture fund, while the 
University of Pittsburgh will facilitate the formation of new ventures based 
on University technology. Oak Leaf Networks will be located in the Oakland 
neighborhood of Pittsburgh, near the Pitt camp! us. Mark Coticchia, a senior 
director at RedLeaf who handles the technology transfer program, said Oak 
Leaf expects to complete two new deals by the end of July. RedLeaf has also 
partnered with the University of Pennsylvania to form another accelerator 
program, known as PennNetworks. About two weeks ago, RedLeaf announced it is 
financing the launch of a network optimization company called 61C Networks, 
which was founded by a graduate student at Carnigie Mellon. Mike Nelson, a 
managing director at RedLeaf, is also responsible for the execution of this 
program, along with Chris Capelli, who heads the University of Pittsburgh's 
technology development and research program.      
		http://www.redleaf.com
		
		
		 vc personnel 
		?
		Baroness Sarah Hogg Set to Become 3i Chair in January
		 mail? top
		
		 LONDON (VENTUREWIRE) -- 3i announced the retirement of George Russell as 
non-executive chairman of its board of directors, effective December 31, 
2001. Upon Mr. Russell's retirement Baroness Sarah Hogg will become the new 
non-executive chairman of the board of directors, which now has 12 directors. 
Ms. Hogg is currently chairman of 3i's audit and compliance committee and has 
been a non-executive director at 3i since 1997. She is also a chairman of 
Frontier Economics and Foreign & Colonial Smaller Companies, a director of 
GKN, Martin Currie Portfolio Investment Trust, P&O Princess Cruises, a 
Governor of the BBC, and a member of the House of Lords select committee on 
economic affairs. 
		http://www.3i.com
		
		
		Dekkers Davidson Joins Charles River as Exec in Residence
		 mail? top
		
		 WALTHAM, Mass. (VENTUREWIRE) -- Charles River Ventures (CRV), which closed 
its Charles River Partnership XI fund in January at $1.2 billion, said it 
hired Dekkers Davidson as its executive in residence. Mr. Davidson will work 
with entrepreneurs on how to effectively run start-up companies. Prior to 
joining CRV, he was the president of the Ontario division of Rogers Cantel, 
Canada's largest wireless company. CRV's portfolio includes Brix Networks, 
Storigen Systems, Guardent, TalkingNets, InteQ, and Upromise. 
		http://www.crv.com
		
		
		Growth Capital Names New Executive Vice President
		 mail? top
		
		 LANCASTER, Pa. (VENTUREWIRE) -- Growth Capital, a private venture capital 
firm, announced it has appointed Richard A. Bidgood to head its venture 
capital group as an executive vice president. Mr. Bidgood will be responsible 
for Growth Capital's venture capital fund, as well as for its business 
management and consulting activities. He will report to Jeremy Freakins, 
Growth Capital's chairman and CEO. Before joining Growth Capital, Mr. Bidgood 
was vice president and senior portfolio manager at First Union National Bank, 
where he worked since 1983. 
		http://www.growthcapitalusa.com
		
		
		 vw corrections 
		?
		Broadview
		 mail? top
		
		 NEW YORK (VENTUREWIRE) -- An item in Friday's VentureWire incorrectly cited 
Broadview Associates as an investor in Red Herring. Broadview Capital 
Partners backs Red Herring. 
		
		
		Porivo Technologies
		 mail? top
		
		 NEW YORK (VENTUREWIRE) -- An item in Friday's VentureWire about the 
appointment of Gordon Kass as president and CEO of Porivo Technologies 
contained an editing error that made his background unclear. He formerly 
served as executive vice president and chief technology officer at NBC 
Internet. The story also misspelled the name of the company's co-founder and 
vice president of strategic development Will Holmes.
		
		
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