======================================================
VENTUREWIRE --- Friday, October 20, 2000
======================================================
Private Company Business News
------ Published Daily by Technologic Partners -------
http://technologicpartners.com
======================================================

Top Stories:

o Shopping Site SmartBargains Lands $33 Million First Round
o Investment Sites iExchange and InteractiveFunds.com Merge
o Portal Firm ChamberBiz Hires Interim CEO and Lays Off Staff
o Prudential Launches Polish VC Argus With $172 Million Close

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Also in This Issue:

New Money:
o Net Storage Apps Firm FreeDrive Gets $20 Million First Round
o Wireless Firm Northstream Gets $8 Million First Round Funds
o Auto Industry Apps Firm Markethaus Has $2.5 Million Series A
o Corporate Intelligence Services Firm WarRoom Gets Round One
o Information Security Firm DigitalMoJo Gets $4 Million Round
o Infrastructure Firm TerraShare Has $2.1 Million Series A
o Interactive Game Developer Raises $4 Million First Round
o Online Naming Firm Brand Fidelity Lands $1 Million Round One
o Sift, Online Marketplace Developer Raises $7.2 Million Round
o Web Lotto Site LuckySurfAsia Gets $4 Million in Seed Round
o Management Service Firm TriActive in $17.3 Million Round Two
o Medical Imaging Company Stentor Raises $20 Million Round Two
o Healthcare ASP Scheduling.com Gets $31.9 Million in Series C
o Amicas Lands $8 Million in Second Round, Names Two to Board
o B2B E-Commerce TexYard Secures $4.5 Million From ICG
o Management Software Firm Belenus Gets $6.3 Million Round Two
o Medical Marketing Firm Aptilon Gets $3 Million in Round Two
o Phillip Morris Invests in First Online Venture, RMX
o Software Firm DoBox Gets Extra $1 Million For Series B Round
o DSI Israel Takes 3.7% Stake in Israeli-Startup Karismatech
o ITF Optical Technologies Closes $30 Million in Seventh Round
o Customer Retention Portal Affinity Logic Gets PSINet Funds
o Newtek Capital Invests in Credit Services Firm Merchant Data

New Products:
o Softbank and Ariba Launch Japanese Joint Venture
o Streaming Video Provider TV House Announces Launch

New Deals:
o Shopping Resource Deja.com Expects to be Split and Sold Soon

M&A:
o Dynamis Merges with Wireless and Mobile Tech Firm Empyrean
o Investment Firm Operon Partners Acquires ComVersant

New Directors:
o Windward Partner Joins Board of Optical Network Firm Zonu

New People:
o Web Business Infrastucture Company Littlefish Appoints CEO
o Online Reference Firm Ibooks.com Names President and CEO
o Paint Industry Web Site PaintandCoatings.com Names CEO
o Subject Specific Portal Developer Only.com Names Chairman

VC Fund News:
o Securitas Closes $100 Million Early-Stage Insurance Fund

VC Personnel:
o Allegis Capital Appoints New Venture Partner

VW Corrections:
o How2TV

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

o Shopping Site SmartBargains Lands $33 Million First Round

BOSTON -- SmartBargains, an online shopping site
that features discounted brand name merchandise,
said it secured $33 million in its first round of
funding, led by Highland Capital Partners. Other
investors include America Online, Berkshire Partners,
Dorset Capital, General Catalyst, Madison Dearborn,
and the Gordon Brothers Group. The company will
use the funds to expand its inventory and set up
its internal infrastructure. The company also said
it reached an agreement with America Online to be
a main tenant of AOL Bargain Basement, a new domain
of Shop@AOL exclusive to members. AOL senior vice
president Katherine Borsecnik joined the board of
directors.
http://www.smartbargains.com/
_____________________________________________

o Investment Sites iExchange and InteractiveFunds.com Merge

DALLAS -- iExchange.com, an online marketplace for
investment advice, and InteractiveFunds.com, an
investment site that  provides financial research
tools, a discussion board, and stock price forecasts,
said they will merge. Financial terms were undisclosed.
The combined company will run under the name iExchange.com
and plans to launch a new Web site by next year
that will include investment products and services.
The company will be operate from InteractiveFunds'
headquarters in Dallas and InteractiveFunds' CEO
Randall Bullard will remain as the new company's
CEO. Heath Schiesser, iExchange's interim CEO and
managing director of idealab! Capital Partners,
will return to idealab!. The company's board will
include Mr. Bullard, Adam Mizel of Capital Z Partners,
AOL co-founder Mark Seriff,  idealab! partner Bruce
Johnston, and a fifth board seat yet to be selected.
iExchange is funded by idealab!, Kleiner Perkins
Caufield & Byers, and Capital Z Partners. InteractiveFunds
is funded by Techxas Ventures and individual investors
including Mr. Seriff and Mort Topfer, former vice-chairman
of Dell.
http://www.iexchange.com/
http://www.interactivefunds.com/
_____________________________________________

o Portal Firm ChamberBiz Hires Interim CEO and Lays Off Staff

WASHINGTON -- ChamberBiz, an Internet portal that
provides information, support, connectivity, and
discounted buying services to U.S.-based small businesses,
brought in a new chief executive officer and laid
off approximately 20 employees as a part of company
restructuring. U.S. Chamber of Commerce executive
vice president and COO Greg Lebedev is the company's
new interim chief executive officer, taking the
place of Thomas Dailey, who has resigned from the
company. ChamberBiz is a joint venture between the
U.S. Chamber of Commerce and Telcom Ventures. Mr.
Lebedev said the lay offs, which are still proceeding,
have left ChamberBiz with between 20 to 25 employees
down from approximately 40. The interim CEO said
that the restructuring is part of the board of directors'
efforts to keep the company competitive given the
current market for business-to-business companies.
http://www.chamberbiz.com/
_____________________________________________

o Prudential Launches Polish VC Argus With $172 Million Close

LONDON -- Argus Capital Group, a Polish venture
capital firm launched by Prudential Insurance Company
of America, said it closed its first fund with $172
million. The fund will invest between $5 million
and $20 million in companies located primarily in
the Czech Republic, Poland, and Hungary. The company
said it would also consider investing in Slovenia,
Croatia, Slovakia, Romania, Bulgaria, and Turkey.
The firm described its fund as a generalist investing
in everything from telecommunications to consumer
goods and services. Other investment areas include
export-firms, privatizations, and specialty retail
ventures. The firm has already invested $60 million
in FiberNet, a cable operator. Argus is a division
of Pricoa capital group.
http://www.pricoacapital.com/

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

o Net Storage Apps Firm FreeDrive Gets $20 Million First Round

CHICAGO -- FreeDrive, a provider of Internet-based
storage applications, said it has raised $20 million
in its first round of funding from Motorola, EDS
Ventures, and EMC Corp. The company said it will
use the funds to expand its core infrastructure
operations and marketing organizations in order
to expand its global business. Warren Holtsberg,
corporate vice president and director of One Motorola
Ventures, will take a seat on FreeDrive's board
of directors.
http://www.freedrive.com/
_____________________________________________

o Wireless Firm Northstream Gets $8 Million First Round Funds

STOCKHOLM -- Northstream, a wireless communication
provider, said it has secured $8 million in its
first round of funding from Argo Global Capital,
a venture capital fund. In addition to the investment,
Allan MacIntosh, a partner at Argo, will take a
seat on Northstream's board. Northstream said it
will use the funding to continue its expansion and
create partnerships with wireless industry players.
http://www.northstream.se/
_____________________________________________

o Auto Industry Apps Firm Markethaus Has $2.5 Million Series A

SEATTLE -- Markethaus, a company that develops and
delivers Internet based hosted applications services
to the automotive service industry, said it secured
its series A round of funding with $2.5 million
from Prince Sultan, Bin Faisal Bin Turki of Saudi
Arabia.  The company said it will launch a test
market in the Northwest during the first quarter
of 2001. Markethaus raised $400,000 from individual
investors in an earlier seed round.  A representative
of Prince Sultan will take the fifth seat on Markethaus'
board of directors.
http://www.markethaus.net/
_____________________________________________

o Corporate Intelligence Services Firm WarRoom Gets Round One

BALTIMORE -- WarRoom Research, which provides corporate
intelligence services, said it raised an undisclosed
amount of funding in its first round, led by ABS
Ventures, an affiliate of Deutsche Banc Alex.Brown.
WomenAngels.net was also an investor in the round.
John Burke of ABS Ventures joined the board of directors.
The company will use the funds for product development.
The company released its first product, "En Garde,"
an Internet-deployable software that can be used
on mobile devices and uses automated search engines
and analytical tools to provide its clients with
24-hour information.
http://www.warroomresearch.com/
_____________________________________________

o Information Security Firm DigitalMoJo Gets $4 Million Round

ATLANTA -- DigitalMoJo, which provides information
security consulting, training, and management services,
said it raised $4 million in its first round of
funding. The round was led by Meyer Duffy Ventures
and included Predictive Systems, Formational Ventures,
and strategic individual investors including Warren
Weiss, president and CEO of Asera. The company said
it will use the funding to build its Secure Operations
Center and support expansion into additional regions.
http://www.digitalmojo.com/
http://www.meyerduffy.com/
_____________________________________________

o Infrastructure Firm TerraShare Has $2.1 Million Series A

ALEXANDRIA, Va. -- TerraShare.com, which provides
users with resource guides to Web sites, databases,
and articles on the Web, said it has secured $2.1
million in its Series A round of funding from the
Aslan Group. The company also provides businesses
with search and targeted advertising services. The
company said it will use the funds to expand its
network of topic experts and to enhance its business
development and marketing.
http://www.terrashare.com/
_____________________________________________

o Interactive Game Developer Raises $4 Million First Round

SAN FRANCISCO -- Quantic Dream, which develops interactive
computer games, said it raised over $4 million in
its first round of funding. The round included investments
from French investors Intiative & Finance Gestion
and Odyssee Venture. The company said the funding
will be used to enhance its content generation and
Internet technologies, open its West Coast office,
and increase its staff.
http://www.quanticdream.com/
_____________________________________________

o Online Naming Firm Brand Fidelity Lands $1 Million Round One

PORTLAND, Ore. -- Brand Fidelity, an online naming,
trademark, and domain name resource, said it raised
over $1 million in its first round of funding from
undisclosed individual and corporate investors.
The company will use the financing for its next
phase of product development and customer acquisition.
Brand Fidelity launched its Web site in September.
http://www.brandfideity.com/
_____________________________________________

o Sift, Online Marketplace Developer Raises $7.2 Million Round

BRISTOL, U.K. -- Sift, which develops online business-to-business
marketplaces, said it raised GBP 5 million ($7.2
million) in its second round of funding. The round
was led by previous investor Quester and included
investments from first round backer Elderstreet
and new investor NIF of Japan. The funding gives
Sift a valuation of $29 million. The company said
it will use the funding to further develop its technology,
expand globally, and support the branding campaign
of its SiftGroups ASP business model.
http://www.sift.co.uk/
_____________________________________________

o Web Lotto Site LuckySurfAsia Gets $4 Million in Seed Round

SAN FRANCISCO -- LuckySurfAsia.com, an online lottery
site for Asia, said it received $4 million in its
seed round from individual Hong Kong-based investors.
The stand-alone company, a spin-off of U.S.-based
LuckySurf.com, has already launched in China and
plans to expand to other Asian markets. LuckySurfAsia.com
plans to use the funds toward marketing and advertising
and said it would seek venture funding in the future.
LuckySurf.com is funded by CVC Europe, TransCosmos,
Alta Partners, 3i, Vantage Point Partners, Ridge
Ventures, and Dassault Developpement.
http://www.luckysurf.com/
http://www.luckysurfasia.com/
_____________________________________________

o Management Service Firm TriActive in $17.3 Million Round Two

AUSTIN, Texas -- TriActive, a management service
provider, said it completed a $17.3 million second
round of financing led by new investor Sierra Ventures.
Previous investors TL Ventures, El Dorado Ventures,
and TriActive board chairman Bob Chiste, president
and CEO of Houston-based fuel and lubricant company
FuelOne, also participated in the round. The company
will use the funding to step up its marketing and
sales activity and to launch development products.
TriActive provides IT infrastructure management,
including PC management, server management, network
and Web site monitoring to mid-sized IT organizations.
The company has raised $24 million to date. Steven
P. Williams, general partner of Sierra Ventures,
will take the sixth seat on TriActive's board of
directors.
http://www.triactive.com/
_____________________________________________

o Medical Imaging Company Stentor Raises $20 Million Round Two

SAN FRANCISCO -- Stentor, a company which delivers
diagnostic images over existing hospital networks,
said it raised $20 million in its second round of
financing led by new investor Gilo Ventures. New
investor EMC and previous investors Caduceus Capital
and Sanderling Biomedical Venture Capital also participated.
The company said it will use the funding for North
American expansion of its medical imaging management
distribution system iSite, as well as for product
engineering, research and development, expansion
of its customer service infrastructure, and sales
and marketing. iSite, commercially released in April,
enables clinicians and referring physicians access
to full-fidelity images across their enterprise.
The company has raised $25 million to date. Emiko
Higashi of Gilo will take a seat on Stentor's board
of directors.
http://www.stentor.com/
_____________________________________________

o Healthcare ASP Scheduling.com Gets $31.9 Million in Series C

LOS GATOS, Calif. -- Scheduling.com, a healthcare
access management application service provider,
said it completed its Series C round with $31.9
million, led by Thomas Weisel Partners. Previous
investors Interwest Partners and New Enterprise
Associates also participated. Thomas Weisel Managing
Director Daniel Dross was added to the board of
directors, bringing the total count to six members.
The company will use the funds for product development.
http://www.scheduling.com/
_____________________________________________

o Amicas Lands $8 Million in Second Round, Names Two to Board

NEWTON, Mass. -- Amicas, a provider of diagnostic
quality radiology image management services, said
it secured nearly $8 million in its second round
of funding. New investors include InvestCare Partners,
TAIB Bank, and EMC Corporation. Previous investors
Radius Ventures, Portage Venture Partners, and Banc
One Equity Capital also participated this round.
Amicas said it will use the capital to expand its
sales and marketing effort and accelerate deployment
of its image distribution system. The company has
raised $12.25 million to date. Amicas is also backed
by HHH Investments and MedCapital. Rajesh U. Kothari
of InvestCare Partners, and Joel Schwartz of EMC,
will join Amicas' board of directors, bringing the
total to six members.
http://www.amicas.com/
_____________________________________________

o B2B E-Commerce TexYard Secures $4.5 Million From ICG

LONDON -- TexYard, an online business-to-business
sourcing technology provider for the apparel industry,
said it has secured $4.5 million from Internet Capital
Group, a publicly traded firm that provides capital
and operational assistance to some 70 business-to-business
Internet commerce companies throughout the world.
The company said it will use the funding for overall
growth. TexYard has also received funding from KarstadtQuelle
New Media, the online business arm of the clothing
manufacturer KarstadtQuelle Group.
http://www.texyard.com/
_____________________________________________

o Management Software Firm Belenus Gets $6.3 Million Round Two

MUNICH, Germany -- Belenus, which develops management
software for the organization and consolidation
of multimedia information, said it raised EUR 7.5
million ($6.3 million) in its second round of funding.
The round was led by Wellington partners and included
a pro rata investment from 3i. The company said
it will use the financing to support increases in
its development and sales and marketing staff. The
company also said the money will be used to support
its international expansion efforts. Belenus received
its initial funding from Technologie Holding, which
was recently acquired by 3i. As a result of its
investment Bart Markus of Wellington Partners will
take a seat on the Belenus board of directors.
http://www.wellington.de/
http://www.belenus.com/
_____________________________________________

o Medical Marketing Firm Aptilon Gets $3 Million in Round Two

BOSTON -- Aptilon Health, a provider of business-to-business
marketing services for pharmaceutical and medical
device companies, said it raised $3 million in its
second round of financing from previous investor
CDP Capital Communications. The company will use
the funds to expand throughout the U.S. and Europe.
http://www.aptilon.com/
_____________________________________________

o Phillip Morris Invests in First Online Venture, RMX

NEW YORK -- Phillip Morris USA, operating company
for the cigarette producer, said it has entered
into an agreement to invest in RetailersMarketXchange,
an online marketplace for convenience store owners
and suppliers. Financial details were undisclosed.
This is Phillip Morris' first planned investment
in an online company. RMX was created by Chevron,
Oracle, and WalMart subsidiary McLane, all of which
are investors. RMX provides small retailers direct
access to suppliers for brand, promotion, and merchandising
information, product ordering, and customer service.
http://www.rmx.com/
http://www.philipmorrisusa.com/
_____________________________________________

o Software Firm DoBox Gets Extra $1 Million For Series B Round

SOUTH JORDAN, Utah -- DoBox, a broadband software
provider, said it received an additional $1 million
in bridge funding as part of its Series B round
of equity financing. The Series B round will total
$7.5 million, and is expected to be completed by
December 2000. DoBox will use the funds for software
development, hiring, and other "strategic growth
initiatives." DoBox's software helps simplify the
delivery of broadband connectivity to residential
customers. The $1 million financing was received
from a number of investors, including: Richard A.
Marin, co-founder and managing director of B2B-Hive;
Frank S. Trumbower, president of Cambridge Technology
Partners; Josh Weinreich, head of Deutsche Asset
Management Americas; Josh Harris, founder of Jupiter
Communications; Arthur Shoen, and Michael Walsh,
managing directors of corporate finance at Deutsche
Bank; and AK Holding. All are prior investors in
the company.
http://www.dobox.com/
_____________________________________________

o DSI Israel Takes 3.7% Stake in Israeli-Startup Karismatech

MAHWAH, N.J -- DSI Israel, a subsidiary of DSSI
and provider of computer software development and
consulting services for Israeli technology companies,
said it has taken a 3.7% equity position in Karismatech,
a provider of computer keyboard display interfaces.
Other financial details of the deal were not disclosed.
Also under the agreement, DSI Israel will provide
Karismatech with development services at lower rates
and retain the option to purchase additional Karismatech
shares upon the completion of certain goals. Besides
DSI Israel, Karismatech has received funding from
Edmond de Rothschild Venture Capital Management.
http://www.dssiinc.com/
_____________________________________________

o ITF Optical Technologies Closes $30 Million in Seventh Round

MONTREAL -- ITF Optical Technology, a designer,
developer and manufacturer of passive photonic components
for optical communication networks, said it has
raised $30 million in its seventh round of funding
from Fidelty Research Company and previous investors
Celtic House, Tyco Ventures, and Essex Investments.
This financing brings the company's total funding
to more than $68 million since it started operating
early last year. The company said the funds will
help expand capacity at its manufacturing facility,
and will be used to train and hire new employees
and pursue the development of new products.
http://www.itfoptical.com/
_____________________________________________

o Customer Retention Portal Affinity Logic Gets PSINet Funds

ORLANDO -- Affinity Logic Systems, which provides
a Web-based customer retention and customer knowledge
portal, said it has secured an undisclosed amount
of funding from PSINet Ventures. Under the terms
of the agreement, PSINet will manage Affinity Logic's
eCRM customer portal in its Web hosting centers.
Crossbow Ventures and several individual investors
have invested in Affinity Logic Systems.
http://www.affinitylogic.com/
_____________________________________________

o Newtek Capital Invests in Credit Services Firm Merchant Data

NEW YORK -- Newtek Capital, which invests in early
stage technology and Internet companies, said it
invested an undisclosed amount in Merchant Data
Systems, a provider of debit, credit card, and ancillary
processing equipment and services, as part of its
first round of funding. Merchant Data Systems will
use the money for general working capital, corporate
infrastructure, and joint venture opportunities.
Newtek will receive a preferred stock position in
addition to 35% of common stock. The firm will also
receive two of Merchant's five board seats.
http://www.merchantdatasystems.com/

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

o Softbank and Ariba Launch Japanese Joint Venture

MOUNTAIN VIEW, Calif. -- Publicly-owned Ariba, a
business-to-business commerce platform, said Softbank
invested $40 million in Nihon Ariba, a joint venture
that will distribute Ariba products in Japan. Softbank
will take a significant equity position in Nihon
Ariba and agree to use the Ariba platform internally.
Softbank also agreed to help distribute the product
within the Japanese market, provide Ariba's product
to its 450 portfolio companies, establish 10 vertical
exchanges for major Japanese industries, and create
commerce services for the Japanese market. Softbank
also will nominate two members to the board of Nihon
Ariba.
http://www.softbank.com/
http://www.ariba.com/
_____________________________________________

o Streaming Video Provider TV House Announces Launch

CHICAGO -- TV House, an Internet infrastructure
company that creates and syndicates proprietary
streaming video content for company Web sites, announced
it has launched. The company was founded by former
Chicago bureau chief for CNBC Ted Holsten, who serves
as president and CEO; Kathleen Behof, a former vice
president of Fleischman Hillard and business correspondent
for CNN, who serves as vice president of content
and business development; and former broadband consultant
Joshua Farlow, who serves as vice president of operations.
The company also announced it has partnered with
Morningstar, a provider of stock, mutual fund, and
insurance investment information, to create and
distribute stock market updates and breaking mutual
fund news three times a day. TV House is backed
by Divine interVentures, an incubator and investment
firm.
http://www.tvhouse.com/

======= New Deals =======

o Shopping Resource Deja.com Expects to be Split and Sold Soon

NEW YORK -- Deja.com, a provider of comparison shopping
resources, is close to a deal that will see the
company split and sold, according to a company source.
The company withdrew its registration for an IPO
in June and laid off employees last month. The source
would not say when the deal would close or who the
buyer or buyers of a divided Deja.com might be.
The company raised $12.5 million in a fifth round
of funding this summer. Deja.com is backed by Austin
Ventures, Chase H&Q, Comcast, GE Capital, Internet
Capital Group, Prime New Media Ventures, and ZDNet.
Deja.com offers product specifications, product
reviews, and comparison search tools.
http://www.deja.com/

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

o Dynamis Merges with Wireless and Mobile Tech Firm Empyrean

SOUTHFIELD, Mich. -- Dynamis Solutions, an Internet
professional services firm, announced it has merged
with Empyrean Design Works, a full service handheld,
mobile, and wireless software company. The companies
did not disclose financial terms of the deal. The
companies said that the merger will allow them to
provide clients with new wireless and mobile services
and products. The combined companies will operate
under the Dynamis Solutions name. Dynamis is backed
by Kohlberg Kravis Roberts & Co.
http://www.edynamis.com/
http://www.empyreabdw.com/
_____________________________________________

o Investment Firm Operon Partners Acquires ComVersant

GAITHERSBURG, Md. -- Operon Partners, an accelerator
for business-to-business firms that takes cash and
equity stakes for its services, said it acquired
ComVersant, an investment firm that targets later-stage
Internet companies. Financial terms were undisclosed.
ComVersant CEO James Datovech will serve as president
and chief operating officer of the company. The
merged company said it will provide electronic business
strategy, planning, and capital formation advice,
as well as business analysis, management, and strategic
recruiting. Both companies are self-funded.
http://www.operonpartners.com/

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

o Windward Partner Joins Board of Optical Network Firm Zonu

THOUSAND OAKS, Calif. -- Windward Ventures, an investment
firm that targets early-stage technology companies,
said general partner Jim Cole has joined the board
of directors at Zonu, a passive optical network
developer based in Tarzana, Calif. Zonu recently
raised its first round of funding from Windward.
http://www.zonu.com/

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

o Web Business Infrastucture Company Littlefish Appoints CEO

BERKELY, Calif. -- Littlefish Commerce, an Internet
business infrastructure company, said it named Thomas
A. Nora as president and CEO. Mr. Nora previously
served as president of Genus Intelligent Systems.
He succeeds co-founder Greg Gibson, who served as
CEO during the company's seed round fundraising
phase and CEO search. Mr. Gibson will continue to
serve as Littlefish's chairman and a long-term strategist.
Littlefish will deploy its first offering, Virtual
Business Platform, in 2001. The company received
seed funding from Timothy Draper of Draper Fisher
Jurvetson and Wasatch Venture Fund.
http://www.littlefishcommerce.com/
_____________________________________________

o Online Reference Firm Ibooks.com Names President and CEO

AUSTIN, Texas -- Ibooks.com, a resource for online
technical reference material, said it appointed
George Leppert as president and CEO. Mr. Leppert
previously served as president of BinaryTree.com,
an e-commerce services provider. Guy Hoffman of
TL Ventures, who had been serving as interim chief
executive, will remain on ibooks' board of directors.
The company, which also assists publishers and distributors
with electronic reference publishing, currently
has $34 million in funding from backers including
Austin Ventures, Dell Computer, and TL Ventures.
http://www.ibooks.com/
_____________________________________________

o Paint Industry Web Site PaintandCoatings.com Names CEO

MALVERN, Pa. -- PaintandCoatings.com, a Web site
for the paint and coatings industry, said it appointed
Matthew Trerotola as its first chief executive officer.
Mr. Trerotola  previously served as vice president
of business development at Ventro. PaintandCoatings.com
is backed by VerticalNetworks, a publicly traded
firm that operates industry-specific business-to-business
Web sites, and Eastman Chemcial.
http://www.paintandcoatings.com/
_____________________________________________

o Subject Specific Portal Developer Only.com Names Chairman

NEW YORK -- Only.com, which is developing 3,000
subject specific portals with the prefix "only-",
said it named Philip L. Letts as non-executive chairman.
Mr. Letts formerly served as chairman and CEO of
Beenz.com, a Web-based currency provider, and is
currently president and CEO of BarterTrust, a business-to-business
exchange. The company said it will open its first
thirty Only- portals in November. Only.com is backed
by venture firm Infinex and individual investors.
http://www.only.com/

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

o Securitas Closes $100 Million Early-Stage Insurance Fund

NEW YORK -- Securitas Capital announced the closing
of Securitas Ventures, a new $100 million global
private equity fund that will target early stage
companies in the insurance industry. The new fund
brings the total capital raised by Securitas Ventures
to $600 million. The Swiss Reinsurance Company and
Credit Suisse Group are limited partners in Securitas
Ventures.
http://www.securitascapital.com/

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

o Allegis Capital Appoints New Venture Partner

SAN FRANCISCO -- Allegis Capital, a venture capital
firm that focuses on seed and early stage funding,
said Leo Hindery, Jr., has joined the firm in an
advisory position as venture partner and a member
of the advisory board. Mr. Hindery, chairman and
CEO of e-commerce and network technology firm GlobalCenter,
will assist with Internet, communications, and technology-related
investments, and work with portfolio companies.
Allegis, which focuses on broadband, wireless and
media-related technology, has partnered with a number
of corporate investors including American Express,
Motorola, Sun Microsystems, GE Equity Capital, and
Dow Jones.
http://www.mtventures.com/

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

o How2TV

NEW YORK -- A story in Tuesday's VentureWire about
How2TV misspelled the first name of its new chief
executive officer. He is Henio R. Arcangeli Jr.

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