======================================================
        VENTUREWIRE --- Wednesday, November 1, 2000
======================================================
           Private Company Business News
------ Published Daily by Technologic Partners -------
           http://technologicpartners.com
======================================================

Top Stories:

o Bertelsmann Forms Alliance with Napster to End Lawsuit
o 39 Workers Lose Jobs as Internet Appliance Shuts NY Office
o Home Director, An IBM Spin-Off, Closes $55 Million Round One
o Lehman Brothers and Booz-Allen Form Joint Venture Innovate@

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Also in This Issue:

     New Money:
o PDA Info Network adAlive Secures $2.5 Million in First Round
o Risk Management Firm Gladwyne Raises $3 Million First Round
o VantagePoint Backs Wireless Data Firm And VoIP Firm Kagoor
o Web Services Firm E-Quill Lands $3.9 Million in Series A
o Broadband Services Firm P-cube Closes $20 Million Round Two
o Optical Component Firm Lightwave Has $75 Million Fifth Round
o Optical Firm Centerpoint Has $130 Million Mezzanine Round
o Optical Networking Firm Kymata Gets $77 Million Round Four
o Print and Publishing Service PrintCafe Secures $62.5 Million
o European Online Billing Service Raises $5.9 Million Round
o Logistics ASP Elogex Raises $6.2 Million Series B
o Net Messaging Infrastructure Firm Mirapoint Has $38 Million
o Q-go.com, Natural Language Search Engine, Raises New Funds
o Search Engine Firm LingoMotors Gets $16 Million Round Three
o Personal Asset Info Site iPlace Receives $5 Million
o Quality Assurance Firm Megaxess Has $2.2 Million Third Round
o Draper Fisher Jurvetson Invests in Brokerage Site iFox
o VentureWorx Invests in E-Learning Security Tech Firm Vynamic

     New Products:
o Gen Y Entertainment Web Site NeuroTrash Launches

     New Deals:
o ASP vJungle Gets Funding From Office Depot as Part of Deal
o Taiwanese Firm Joins Need2Buy and Mitsubishi Joint Venture

     M&A:
o Silicon Energy Acquires EPS Solutions
o U.S. Wireless Data to Acquire CellGate Technologies

     New Directors:
o Lightspeed Interactive Adds Sun Microsystems Exec. to Board
o Spanish & Portuguese Travel Site Viajo.com Names Chairman
o Former Stamps.com President Named Chair of Perquia
o Narus Appoints Network Appliance President To Its Board
o Portals Provider Conjoin Adds Former Teradyne Exec To Board

     New People:
o Boats.com Co-Founder Takes Over For Departed CEO
o eBenefits Names Wells Fargo Executive as New CEO
o Former Active Software Exec Joins Tradec as President & CEO
o Health Care Security Services Firm HealthCast Names CEO
o Optical Firm Cinta Names Former Tellabs President as CEO
o Publishing Exec Named CEO of Training Product Firm Cognitive
o Sekani Names Former NFL Enterprises President Bernard as CEO
o Broadband Firm Infinilink Names New President & COO
o TelCo Firm IP Services Names President and CEO
o Communications Firm Hotline Names Former Phoenix Exec as CEO
o Swedish IT Consultant DataVis Names President and CEO
o Automation Software Firm Novient's President & COO Named CEO

     VC Fund News:
o Capital Z Partners and Zurich Financial to Form New Firm
o Village Ventures Raises $7 Million From Banknorth Group
o Project Development Firm Venture Studio Launches
o New Media Venture Partners Raises $17.5 Million

     VC Personnel:
o Former Lucent Executive Joins St. Paul Venture Capital
o Former WhoWhere Exec Joins NeoCarta Ventures as Partner

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

o Bertelsmann Forms Alliance with Napster to End Lawsuit

NEW YORK -- Napster, which operates a Web site for
sharing music files in MP3 format, said it formed
an alliance with Bertelsmann that will result in
Bertelsmann dropping its copyright lawsuit against
Napster. The agreement stipulates that once Napster
has implemented a new membership-based service,
Bertelsmann's music unit will drop its lawsuit and
make its BMG music catalogue available on Napster.
The Bertelsmann eCommerce group will loan funds
to Napster to develop the new service and will have
a warrant to acquire equity in the company. A&M
Records and other recording companies, the Recording
Industry Association of America (RIAA), and the
National Music Publishers Association have also
filed a lawsuit against Napster that remains unresolved.
Hilary B. Rosen, the president of the RIAA, released
a statement saying the agreement was a positive
step but made no predictions of what the record
companies it represents would do in light of the
development. Napster is backed by Hummer Winblad
Venture Partners and individual investors.
http://www.napster.com/
http://www.bertelsmann.com/
_____________________________________________

o 39 Workers Lose Jobs as Internet Appliance Shuts NY Office

NEW YORK -- In a bid to focus on profitability and
manage its operational costs, Audrey Parma, the
chief executive officer and president of Internet
Appliance Network (IAN), said the company is closing
down its New York office, laying off 39 employees.
IAN, which had been providing customized user interfaces,
software, Internet access, targeted content and
links, loyalty programs, and an e-commerce and advertising
network, among other services, said it will focus
mainly on its software and technology business and
drop its marketing services. Ms. Parma said the
company will relocate its headquarters from New
York to its branch office in Boxborough, Mass. Laid-off
employees received a month's severance pay and other
benefits, she said. A skeleton staff, mainly employees
in the finance and human resource division, still
remain in the New York office. The company, which
was seeking to close on $20 million to $30 million
in an upcoming Series C funding said it has put
a hold on the round in order to refocus its strategy.
Ms. Parma said it expects to raise a less when the
company starts raising funds because the company's
needs have now changed. IAN is backed by Flatiron
Partners and J&W Seligman, both of which endorsed
the cut back.
http://www.internetappliance.net/
_____________________________________________

o Home Director, An IBM Spin-Off, Closes $55 Million Round One

MORRISVILLE, N.C. -- Home Director, an IBM spin-off
that provides home networking and technology products,
said it closed its first round of funding at $55
million with a strategic investment from Motorola's
Broadband Communication Sector. Spencer Trask Ventures
led the round, which included investments from Cisco
and IBM. In addition to the investment, Motorola
has entered into a partnership with Home Director
to develop home networking integration products.
Home Director said it will use the funds to expand
the company and develop new products.
http://www.homedirector.com/
_____________________________________________

o Lehman Brothers and Booz-Allen Form Joint Venture Innovate@

NEW YORK -- Investment bank Lehman Brothers and
consulting firm Booz-Allen & Hamilton said they
formed an alliance to launch a new venture that
will fund and provide services to startups. The
new venture, Innovate@ Lehman Brothers/Booz-Allen,
will fund and provide strategic, technical, executive,
and financial services to companies in the communications,
media, and technology industries. The partnership
will invest between $1 million and $5 million per
investment and fund all investments jointly. The
joint venture may later establish a fund for outside
investors. Innovate@ will be managed by Lehman Brothers
managing directors Scott Freidheim and Leo Russell
and Booz Allen vice presidents Bill Jackson, Sajai
Krishnan, and Steffen Leistner.
http://www.innovate-at.com/

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

o PDA Info Network adAlive Secures $2.5 Million in First Round

WALTHAM, Mass. -- adAlive, which provides a network
of information access-points for PDA-users, said
it has received $2.5 million in its first round
of funding from Davenport Capital Ventures. The
company said it will use the funds to support the
development and launch of its new content and information
service for PDA users. The company also said it
named co-founder Rohit Arora as president and chief
executive officer. Mr. Arora was formerly vice president
of sales and marketing for Barry Controls, a unit
of Applied Power. The company said co-founders Raj
Sisodia and Vinit Nijhawan will serve as co-chairman.
Co-founder Dipinder Singh was named adAlive's executive
vice president of marketing and business development.
http://www.adalive.com/
_____________________________________________

o Risk Management Firm Gladwyne Raises $3 Million First Round

WAYNE, Pa. -- PA Early Stage, a Safeguard Scientifics
affiliated private equity fund focused on start-up
and early stage investments, said it led a $3-million
first round raised by Gladwyne Software Surety,
a provider of risk management products and services
for information technology implementations. The
Eastern Technology Fund, Base Camp Ventures, CIP
Capital, and individual investors also participated.
Two members of PA Early Stage will receive Gladwyne
Software Surety board seats.
http://www.itsurety.com/
_____________________________________________

o VantagePoint Backs Wireless Data Firm And VoIP Firm Kagoor

SAN BRUNO, Calif. -- VantagePoint Venture Partners
said it participated in the second round financing
of Kagoor Networks, a San Mateo, Calif.-based developer
of voice over IP technologies, and the first round
financing of Broadstorm Telecommunications, a Redmond,
Wash.-based developer of wireless data systems.
In all, Kagoor received $15 million in its round.
Kagoor received backing in a prior round from ComVentures
and Ed Kozel, former chief technology officer for
Cisco Systems. Other details of the deal were not
released. In its first round, Broadstorm received
a total of $2.5 million.  Further details of the
investment were not made public. Broadstorm is also
backed by Vulcan Northwest.
http://www.kagoor.com/
http://www.broadstorm.com/
_____________________________________________

o Web Services Firm E-Quill Lands $3.9 Million in Series A

SAN FRANCISCO -- E-Quill, a provider of Web development,
Web design, and customer relationship management
services, said it closed a $3.9 million Series A
round of financing. Participants in the round included
Draper Richards; Stonepath Group; Tim Draper; Steve
Jurvetson; Nicholas Negroponte, founder of the MIT
Media Lab; and David Hayden, founder of Critical
Path.  E-Quill will use the funding to further develop
and market its technology and expand its team. E-Quill's
other investors include Angel Investors, Gordon
Bell, David Norman, and Steven Blank.
http://www.e-quill.com/
_____________________________________________

o Broadband Services Firm P-cube Closes $20 Million Round Two

SANTA CLARA, Calif. -- P-cube, a developer of a
broadband IP platform for service monitoring, provisioning,
and creation, said it completed a $20 million second
round of financing. Participants in the round included
previous investors Accel Partners, Communications
Ventures, Singapore-based TDF, and Israeli firms
Evergreen and Microdent. New investors included
Sandoz Foundation and Singapore Telecom. The company
has raised $30 million to date.
http://www.p-cube.com/
_____________________________________________

o Optical Component Firm Lightwave Has $75 Million Fifth Round

SAN JOSE, Calif. -- Lightwave Microsystems, an integrated
optical component supplier, said it raised $75 million
in its fifth round of financing led by previous
investor Meritech Capital Partners. Also participating
were Putnam Investments, Essex Investment Mangement,
and previous investors Chase H&Q, Draper Fisher
Jurvetson, Information Technology Ventures, Morgenthaler
Ventures, Oak Investment Partners, Lightspeed Venture
Partners, Worldview Technology, Robertson Stephens
& Co., First Analysis of Chicago, Stanford University,
and Comdisco. The company will use the funds for
manufacturing expansion and product development.
http://www.lightwavemicro.com/
_____________________________________________

o Optical Firm Centerpoint Has $130 Million Mezzanine Round

SAN JOSE, Calif. -- Centerpoint Broadband Technologies,
a developer of optical networking transport and
aggregation systems, said it raised $130 million
in its mezzanine round of funding led by Putnam
Investments and Oppenheimer Funds. Other investors
included Amerindo Investment Advisors, Essex Investment
Management Company, Firsthand Capital Management,
 Kaufmann Fund, Octane Capital Management, and Pilgrim
Baxter & Associates. The company said it will use
the funds to develop its technology.
http://www.centerpoint.com/
_____________________________________________

o Optical Networking Firm Kymata Gets $77 Million Round Four

LIVINGSTON, Scotland. -- Kymata, a designer and
manufacturer of optical networking components, said
it has raised $77 million in its fourth round of
funding led by European Venture Partners, with syndicate
members including GATC European Technology Ventures
and new investor RBS Mezzanine. Other investors
include Chase H&Q, Comdisco Ventures, FNI Venture
Capital, and William Jones & Associates. Kymata,
which has raised $162 million to date, has received
funding from 3i Group, ACT Venture Capital, Bowman
Capital, BT, ComVentures, Kleiner Perkins Caufield
& Byers, Telesoft Partners, and the University of
Southampton.
http://www.kymata.com/
_____________________________________________

o Print and Publishing Service PrintCafe Secures $62.5 Million

VANCOUVER, British Columbia -- Creo Products said
it invested $32 million in cash and stock in PrintCafe,
a provider of Internet-based, business-to-business
products and services for the printing and publishing
industry, as part of a $62.5 million round of financing.
In January of this year, Creo Products formed PrintCafe
along with Prography Systems. HarbourVest Partners,
Weiss, Peck & Greer, and previous investor Mellon
Ventures also participated in the current funding
round. The company will use the funds to repay outstanding
debt, and for working capital.
http://www.printcafe.com/
_____________________________________________

o European Online Billing Service Raises $5.9 Million Round

AMSTERDAM -- Anachron, which provides online billing
services, said it raised EUR 7 million ($5.9 million)
in its second round of funding. The round was led
by NIB Capital and included an investment from the
company's initial investor Residentie Investments.
The company said it will use the funding to increase
its research and development, sales and marketing,
and European expansion activities.
http://www.anachron.com/
_____________________________________________

o Logistics ASP Elogex Raises $6.2 Million Series B

CHARLOTTE, N.C. -- Elogex, an application service
provider that provides commerce and transportation
execution products and services for the logistics
and distribution industry, said it raised $6.2 million
in its Series B funding. New investor Fenway Partners
led the round, which also included individual investors.
John Anderson, who leads Fenway Partners subsidiary
Big Wheel Partners, will represent Fenway on the
company's board of directors. The company will use
the funding for sales and marketing, further product
development, and for recruiting additional executive
management. Elogex, which raised a $1.3 million
Series A round from individuals earlier this year,
said it will launch a  collaborative commerce platform
this quarter.
http://www.elogex.com/
_____________________________________________

o Net Messaging Infrastructure Firm Mirapoint Has $38 Million

SUNNYVALE, Calif. -- Mirapoint, a provider of Internet
messaging infrastructure products, said it has raised
$38 million in a funding round led by Van Wogoner
Capital Management. Additional investors in the
round included Fremont Communications, Pivotal Asset
Management, and Robert Stephens' Bayview 2000. Mirapoint's
previous investors, Worldview Technology Partners,
Goldman Sachs, and Amerindo Investment Advisors
contributed additional capital to the round. The
company said it will use the funds to develop its
product, and support international sales and marketing
programs.
http://www.mirapoint.com/
_____________________________________________

o Q-go.com, Natural Language Search Engine, Raises New Funds

AMSTERDAM -- Q-go.com, which provides a natural
language search engine developer, said it raised
EUR 12 million ($10.1 million) in its second round
of funding. The funding was divided between new
investors NIB Capital Technology Partners, Argo
Global Capital, and previous investor Prime Technology
Ventures. The company said it will use the funding
to expand its marketing and sales activities and
to enter other European markets. Q-go.com has offices
in Bonn, Berlin, London, and Barcelona.
http://www.q-go.com/
_____________________________________________

o Search Engine Firm LingoMotors Gets $16 Million Round Three

CAMBRIDGE, Mass. -- LingoMotors, which develops
'ordinary language' search technology  for Web site
search engines, said it has raised about $16 million
in its third round of funding led by Reuters, through
its Greenhouse Fund. Additional investors in the
round included Rosewood Venture Capital Group and
Brook Venture Fund. The company said it will use
the funds to grow the company. LingoMotors previously
received funding from Seed Capital Partners, Corning
Technology Ventures Sparkventures, and Crimson Capital.
http://www.lingomotors.com/
_____________________________________________

o Personal Asset Info Site iPlace Receives $5 Million

BRISTOL, Pa. -- iPlace, which aims to provide users
with relevant information about their credit, home,
neighborhood and other personal assets, said it
received a $5 million cash investment from publicly-traded
Equifax, a consumer credit data provider. The companies
have entered into a multi-year strategic alliance
to create and deliver Web-enabled credit products
to businesses and consumers. iPlace's network of
Web sites includes QSpace.com, ConsumerInfo.com,
HomeRadar.com, eNeighborhoods.com, and FreeCreditReport.com.
The company is majority-owned by MemberWorks and
is also backed by individual investors.
http://www.iplace.com/
_____________________________________________

o Quality Assurance Firm Megaxess Has $2.2 Million Third Round

GERMANTOWN, Md. -- Megaxess, a maker of quality
assurance service products, said it received $2.2
million in its third round from Advantec. The company
said it will go through one more round of funding
before it goes public in March or April. The company
said it will use the funds for additional product
development.
http://www.megaxess.com/
_____________________________________________

o Draper Fisher Jurvetson Invests in Brokerage Site iFox

REDWOOD CITY, Calif. -- Draper Fisher Jurvetson
ePlanet Ventures said it invested in iFox International
of Stockholm, an electronic broker for over-the-counter
derivatives. No further details were released. iFox
said it will use the funds to expand internationally.
http://www.ifoxdirect.com/
_____________________________________________

o VentureWorx Invests in E-Learning Security Tech Firm Vynamic

CHARLOTTE, NC -- VentureWorx, a venture management
consultancy company, said it acquired an 6% equity
stake in Vynamic, an Internet infrastructure company
that provides security software and services for
online learning companies. As part of the deal,
VentureWorx will also provide services in exchange
for a combination of cash and equity. Backers for
Vynamic include VentureWorx, Cabletron, and individual
investors.
http://www.vynamic.com/

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

o Gen Y Entertainment Web Site NeuroTrash Launches

LOS ANGELES -- NeuroTrash, a new media entertainment
company that targets users aged 14 to 24 years old,
announced its launch. The company features four
channels: NT Extreme, which offers extreme sports
videos; NT Reality, which shows "caught on tape"
clips; NT Original, which features original programming;
and NT Films, which offers short independent digital
films. The company said it will add more to its
Web site later this month, such as an online store
and chat rooms. NeuroTrash is backed by Astor Capital.
http://www.neurotrash.com/

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

o ASP vJungle Gets Funding From Office Depot as Part of Deal

REDMOND, Wash. -- vJungle, an integrated application
service provider, said it has secured an undisclosed
investment from Office Depot, as part of a strategic
alliance agreement with the office supply giant.
Office Depot will showcase vJungle' services in
the business services section of its Web site, and
vJungle will provide Office Depot with its OpenEX
platform. The company's backers include Andy Bechtolsheim,
co-founder of Sun Microsystems; Ashutosh Roy, founder
of WhoWhere and eGain; Ben Rosen, founder of Compaq
Computer; and Venkatesh Harinarayan, a general manager
with Amazon.com.
http://www.officedepot.com/
http://www.vjungle.com/
_____________________________________________

o Taiwanese Firm Joins Need2Buy and Mitsubishi Joint Venture

WESTLAKE VILLAGE, Calif. -- Need2Buy, which provides
an online marketplace for buyers and sellers of
electronic components, said Taiwan-based component
distributor World Peace Industrial (WPI) joined
Mitsubishi in the joint venture Need2Buy-Asia, a
business-to-business Internet commerce site for
electronic components in Asia. Mitsubishi and WPI
now each hold a 20% equity stake in the joint venture,
with Need2Buy retaining a 60% equity stake. Need2Buy
is backed by Baker Capital, Jump! Investors, Misubishi,
Shelter Ventures, Star Ventures,TMCT Ventures, and
Trust Co. of the West.
http://www.need2buy.com/

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

o Silicon Energy Acquires EPS Solutions

ALAMEDA, Calif. -- Silicon Energy, which provides
Internet-based energy technology software, said
it will acquire EPS Solutions, an energy rate software
and information company. The terms of the deal were
not disclosed at this time. Silicon Energy's backers
include Andersen Consulting, GPU, Integral Capital
Partners, GE Capital, United Technologies, Morgan
Stanley Dean Witter, Energy Ventures, and RealEnergy,
Peregrine Systems, Nth Power, and Red Rock Ventures.
http://www.siliconenergy.com/
_____________________________________________

o U.S. Wireless Data to Acquire CellGate Technologies

NEW YORK -- U.S. Wireless Data, a publicly traded
wireless transaction services company, announced
that it has entered into an agreement to acquire
CellGate Technologies, a provider of wireless services
for financial transaction processing. The assets
acquired include an exclusive license to the AT&T
Wireless technology that makes the conversion from
landline to wireless transaction possible for traditional
dial-up point of sale terminals and other dial-up
devices. The acquisition will be made for approximately
$10 million in cash and shares. Cellgate is backed
by individual investors.
http://www.uswirelessdata.com/
http://www.cellgate.com/

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

o Lightspeed Interactive Adds Sun Microsystems Exec. to Board

PLEASANTON, Calif. -- Lightspeed Interactive, a
provider of Internet infrastructure software, said
it added John Loiacono, Sun Microsystems senior
vice president and chief marketing officer, to its
board of directors. Backers for Lightspeed Interactive
include Ticonderoga Capital, Millenium Technology
Ventures, Goldman Sachs, InveStar Capital, Lucent
Venture Partners, Mayfield Fund, Mohr Davidow Ventures,
Synopsys, and U.S. Venture Partners.
http://www.lspeed.com/
_____________________________________________

o Spanish & Portuguese Travel Site Viajo.com Names Chairman

MIAMI -- Viajo.com, an Internet travel site for
Spanish and Portuguese speaking markets, said it
appointed Kenneth J. Orton as chairman of the board.
 Mr. Orton was most recently founder and CEO of
Preview Travel, which merged with Sabre's Travelocity.com.
He also serves as chairman of the board of Wine.com
and sits on the boards of autobytel.com, Egghead.com,
and VetmedCenter.com. Viajo.com also offers traditional
travel services off-line. The company is backed
by Chase Capital Partners, GE Equity, GP Investimentos,
Morgan Stanley Dean Witter Private Equity, SLI Investments,
TH Lee.Putnam Internet Partners, Flatiron Partners,
and WaldenVC.
http://www.viajo.com/
_____________________________________________

o Former Stamps.com President Named Chair of Perquia

HAYWARD, Calif. -- Perquia, a loyalty marketing
services provider, said it appointed former Stamps.com
president and COO Loren Smith as chairman. Prior
to joining Stamps.com, Mr. Smith served as chief
marketing officer of the U.S. Postal Service. Perquia
is backed by outside investors and is seeking first
round funding.
http://www.perquia.com/
_____________________________________________

o Narus Appoints Network Appliance President To Its Board

PALO ALTO, Calif. -- Narus, which provides IP service
providers with business infrastructure systems and
software, said Thomas F. Mendoza, the president
of Network Appliance, joined its board of directors.
Besides Network Appliance, Mr. Mendoza has held
several management positions at Auspex, Stratus
Computer, and Data General, and Burroughs. Narus
is backed by Mayfield Fund, Walden Ventures, Chase
Capital Partners, MediaOne Ventures, and Frontier
Internet Ventures.
http://www.narus.com/
_____________________________________________

o Portals Provider Conjoin Adds Former Teradyne Exec To Board

BEDFORD, Mass. -- Conjoin, which provides sales
and marketing portals, said it has elected Jim Prestridge
to the company's board of directors. Mr. Prestridge,
the former vice chairman and executive vice president
of Teradyne, was one of three members of Teradyne's
management team. He will join existing board members,
Nick d'Arbeloff, president and CEO of Conjoin, Paul
Levine, the former chief executive officer of Atria
Software, and Mike Shanahan, managing partner and
co-founder of Egan-Managed Capital, which is an
investor in Conjoin. Conjoin is also backed by individual
investors.
http://www.conjoin.com/

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

o Boats.com Co-Founder Takes Over For Departed CEO

SAN FRANCISCO -- Boats.com, which provides an online
portal for the recreational boating community, said
its board of directors named Tom Hutton as the company's
CEO. Mr. Hutton, the co-founder of Boats.com and
chairman of its board, previously served as chief
executive officer of Risk Management Solutions.
He replaces Rolando Esteverena, who resigned as
the chief executive officer of the company. Boats.com
raised $21 million in its last round of funding
from investors including Mayfield Fund and Trident
Capital.
http://www.boats.com/
_____________________________________________

o eBenefits Names Wells Fargo Executive as New CEO

SAN FRANCISCO -- eBenefits, which provides free
Internet-based human resources and benefits management
services to small businesses, said it appointed
Jim Ketcham, former executive vice president at
Wells Fargo, to the position of chief executive
officer. Backers for eBenefits include Draper Fisher
Jurvetson, New Enterprise Associates, and W.R. Hambrecht.
http://www.ebenefits.com/
_____________________________________________

o Former Active Software Exec Joins Tradec as President & CEO

SAN JOSE, Calif. -- Tradec, which provides Web-based
applications and integrated content technology for
materials procurement, said it has appointed Edwin
C. Winder as its president and CEO. Mr. Winder,
who assumes his new role from Tradec founder John
Abe, was most recently senior vice president of
worldwide sales and business development at Active
Software. He will be responsible for the overall
management of the company focusing on sales and
marketing leadership, growth and expansion. Mr.
Abe will continue with the company as chairman.
Tradec is backed by Novus Ventures, Graystone Venture
Partners, Mitsui, China First, and Concord Ventures.
http://www.tradec.com/
_____________________________________________

o Health Care Security Services Firm HealthCast Names CEO

BOISE, Idaho -- HealthCast, a provider of Web-based
information and security services to the health
care industry, said it appointed Joan H. Mehn as
its chief executive officer. Ms. Mehn has been senior
vice president and acting general manager of the
company since April. Prior to joining HealthCast,
she was a senior executive at Bridge Medical Systems,
a leader of McKinsey & Company's health care practice,
and a clinician and executive at Childrens Hospital
Los Angeles. HealthCast is a wholly owned subsidiary
of AltaCast, a holding company focusing on the funding
and development of incubator start-up companies
and is backed by undisclosed private and corporate
investors.
http://www.gohealthcast.com/
_____________________________________________

o Optical Firm Cinta Names Former Tellabs President as CEO

SAN JOSE, Calif. -- Cinta, a builder of carrier-class
optical networking systems, said it  named John
E. Vaughan as president and CEO. He succeeds founding
CEO Chien-Yu Kuo who will become executive vice
president and chief technology officer. Before joining
Cinta, Mr. Vaughan served as president of Tellabs
Global Sales and Service and was also an executive
vice president of Tellabs, a supplier of optical
networking, switching, and broadband access systems.
Mr. Vaughan will also take the fifth seat on Cinta's
board of directors. The company raised $15 million
in its first round of funding from Battery Ventures
and Sequoia Capital in November 1999.
http://www.cinta-corp.com/
_____________________________________________

o Publishing Exec Named CEO of Training Product Firm Cognitive

NEW YORK -- Cognitive Arts, a developer of Internet-based
products and services for educational and corporate
training uses, said it appointed Russell C. White
as chief executive officer. Mr. White was most recently
president of Elsevier Science, a science publication
Web site. Cognitive Arts is backed by GE Equity,
Catterton Partners, Leeds Equity Partners, Regent
Capital, and ING Furman Selz Investments.
http://www.cognitivearts.com/
_____________________________________________

o Sekani Names Former NFL Enterprises President Bernard as CEO

NEW YORK -- Sekani, formerly FootageNow, a media
asset management services company, said it named
Ron Bernard, former President of NFL Enterprises,
as chief executive officer. Mr. Bernard is also
former president of Viacom Network Enterprises.
Sekani's co-founders Armistead Whitney and Todd
Pavlin will continue in their senior executive roles
as part of the company's management team. Sekani's
investors include Corbis, a provider of photography
and fine art on the Internet, founded by Bill Gates;
iXL, an Internet strategy consulting firm; RRE Ventures,
a venture capital firm that invests in entrepreneurial
IT companies; ComVentures; Bessemer Venture Partners;
Infinity Capital; WaterView Advisors; and the Wakefield
Group.
http://www.sekani.com/
_____________________________________________

o Broadband Firm Infinilink Names New President & COO

IRVINE, Calif. -- Infinilink, which develops and
manufactures broadband software, products, and services,
said it has named Chuck Hong as its  president and
COO. Mr. Hong was previously executive vice president
of Rancho Santa Margarita, Calif.-based Viking Components.
He replaces Infinilink president M. Finney Gilbert,
who will now serve as chief executive officer and
chairman of the board. Infinilink's backers include
GlobalEuroNet Group, Global PMX and Roth Capital
Partners.
http://www.infinilink.com/
_____________________________________________

o TelCo Firm IP Services Names President and CEO

DENVER -- IP Services, a provider of local, long
distance, and data communications services to third
tier markets, said it named Martin F. McDermott
III as president and COO. Mr. McDermott joins the
company from KMC Telecom, where he served as executive
vice president of marketing services. IP Services
uses packet-switching and routing technology to
transmit voice and data through a network of computer
servers. The company is backed by Indian Mining
Company, a public company traded on the Australian
exchange.
http://www.ipserv.com/
_____________________________________________

o Communications Firm Hotline Names Former Phoenix Exec as CEO

TORONTO -- Hotline Communications, a provider of
peer-to-peer communications and community-building
software, said it appointed Jack Kay as president
and chief executive officer. Mr. Kay replaces Steve
Bielawski, who will remain with the company as vice
president of business development. Mr. Kay was formerly
president and CEO of Phoenix Technologies. The company
is backed by individual investors and has raised
$8 million to date.
http://www.bigredh.com/
_____________________________________________

o Swedish IT Consultant DataVis Names President and CEO

STOCKHOLM, Sweden -- DataVis, a Swedish IT-consultancy
group, said Johan Ortenblad, the former CEO of Systemintegration
SIMECO Norden, was appointed as the company's new
president and CEO. Investors for DataVis include
Ratos.
http://www.datavis.se/
http://www.ratos.se/
_____________________________________________

o Automation Software Firm Novient's President & COO Named CEO

ATLANTA -- Novient, which provides automation software
for professional services companies and systems
integrators, said it named named Halsey Wise chief
executive officer. Mr. Wise has served as president
and COO since he joined the company in December
of last year. Investors for Novient include Hummer
Winblad Venture Partners, Noro-Moseley Partners,
First Union Capital Partners, R-H Capital Partners,
and Lovett-Miller Venture Partners.
http://www.novient.com/

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

o Capital Z Partners and Zurich Financial to Form New Firm

NEW YORK -- Capital Z Partners said it will join
with publicly traded financial services firm Zurich
Financial Services Group, its leading limited partner,
to form Capital Z Investment Partners (CZIP), a
new alternative asset management company. Capital
Z expects Zurich to invest $2 billion for significant
equity in CZIP. The newly formed firm will launch
Capital Z Financial Services Fund III and Capital
Z Investments II, independent successor funds to
existing Capital Z funds. CZIP will expand the alternative
asset investment scope of Capital Z, which includes
venture capital investment. Capital Z partner Laurence
Cheng will be the chief executive officer of CZIP
and sit on its board of directors. Capital Z partner
Steven Gluckstern will become CEO of Zurich's global
asset business and a member of its group management
board. Mr. Gluckstern will also be one of two Zurich
representatives on CZIP's board of directors.
http://www.capitalz.com/
http://www.zurich.com/
_____________________________________________

o Village Ventures Raises $7 Million From Banknorth Group

WILLIAMSTOWN, Mass. -- Village Ventures, which operates
early stage investment funds in seven states, said
it raised $7 million from the Banknorth Group, an
affiliated group of local banks in the northeastern
U.S. The investment enables the banks of the group,
located in New Hampshire, Maine, Massachusetts,
Vermont, upper New York state, and Connecticut,
to invest in startup companies in their localities.
Village Ventures launched in June with $80 million
in funding from Bain Capital, Highland Capital Partners,
and Sandler Capital Management. The venture firm
operates funds in Massachusetts, Rhode Island, Maine,
Idaho, Vermont, Tennessee, and Virginia.
http://www.villageventures.com/
_____________________________________________

o Project Development Firm Venture Studio Launches

WASHINGTON -- Venture Studio, a project management
and development firm for Internet and technology-based
companies, announced its launch. The company will
provide Web site and product development, seed capital,
business planning, business development, fundraising
assistance, public relations, and marketing in exchange
for equity or fees. The company already has two
products in beta testing, Estimates Online, a software
package that enables companies to provide price
quotes or estimates to customers from its Web site,
and ShowMyAds, an advertising exchange network.
VentureEmployment, a job search resource for individuals
who want to work for technology and Internet start-up
companies, will soon launch.
http://www.venturestudio.com/
_____________________________________________

o New Media Venture Partners Raises $17.5 Million

SALT LAKE CITY -- New Media Venture Partners (NMVP),
an investment firm focused on technology companies,
said it closed what it called its Series B round
of funding with $17.5 million. Hewlett-Packard invested
$10 million in cash and debt financing, and several
Asian investors including Media Corp., a part of
the Singapore government; Midas International Asset
Management; and individual investor Allen Miner,
founder of Oracle Asia, invested a combined $7.5
million. The company recently opened offices in
Tokyo and plans to expand to Europe next year.
http://www.nmvp.com/

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

o Former Lucent Executive Joins St. Paul Venture Capital

BOSTON -- St. Paul Venture Capital, which invests
in early-stage communications, business Internet,
and consumer technology firms, said it named Roderick
K. Randall as general partner of its Boston office.
Mr. Randall was most recently chief marketing officer
at Lucent Technologies and founded Teleos Communications,
a wide-area network access equipment provider, in
1987. St. Paul currently has $3 billion in committed
capital.
http://www.stpaulvc.com/
_____________________________________________

o Former WhoWhere Exec Joins NeoCarta Ventures as Partner

SAN FRANCISCO -- NeoCarta Ventures said Ellen Levy
has joined the company as its sixth partner and
as vice president of corporate development. Ms.
Levy previously served at Softbank Venture Capital,
assisting a managing director in finding and evaluating
investments. Ms. Levy is also a former vice president
of corporate development at information site WhoWhere,
which was acquired by Lycos, and is co-founder of
parenting site drspock.com, where she continues
to serve as an advisor. Ms. Levy will develop strategic
planning and development services aimed at helping
NeoCarta's portfolio companies.
http://www.neocarta.com/

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