======================================================
        VENTUREWIRE --- Wednesday, August 23, 2000
======================================================
           Private Company Business News
------ Published Daily by Technologic Partners -------
           http://technologicpartners.com
======================================================

Top Stories:

o BlueStream Ventures Raises $250 Million for First Fund
o VCs Rescue Drkoop.com With $20 Million, Clear Out Management
o Online Bill Payment Rivals Paytrust and PayMyBills.com Merge
o Mylackey.com Chief Executive Steps Down
o Broadband Tech Firm Sigma Raises $20 Million in First Round
o Ifilm in Strategic Deal With Independent Film Channel

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Also in This Issue:

     New Money:
o Gallium Nitride Chip Maker Scores $13 Million First Round
o Wireless Developer SkyGo Raises $11 Million in Series A
o Net Tech Firm United Devices Gets $13 Million in Round One
o Web Site Defender Asta Gets $3 Million in First Round
o Display Developer Alien Technology Raises $80 Million
o Auto Info Provider Edmunds.com Raises $36 Million Series B
o Coriolis Networks Closes $20 Million in Second-Round Funding
o FeedRoom News Network Raises $30 Million in Second Round
o IP Unity Raise $12 Million in Series B from Kleiner Perkins
o ApplianceWare Raises $14 Million in Second Round
o Ericsson Takes 29% Stake in Mobile Marketing Firm Mediatude
o Event411.com Raises $16 Million in Second Round of Funding
o Finnish Micro-Optics Firm Heptagon Gets $1.62 Million
o First Insight Raises $10.4 Million in Second Round
o Incubator Cube8.com Takes 70% of E-Commerce Consultant
o Kraft Takes Stake in Ethnic Food Vendor EthnicGrocer.com
o Redleaf Invests $5.5 Million in Net Healthcare Firm Medebiz
o Telecomm Firm FirstMile Closes Second Round of Funding
o THCG's Zinook to Invest $2 Million in Data Transmission Firm
o WorldNet Resource Group Takes 20% Stake in MyMobileCity
o Agilera Secures $5 Million in Additional Round Two Financing
o Net Outsourcing Firm Riverstone Has $2.5 Million Round Two
o Online Customer Support Firm Nuasis Raises $25 Million
o Sports Site Asimbia Raises $18.5 Million Series C
o U.K. Net Clothier 9Feet.com Secures $4 Million Second Round
o Campusfood.com and Continuing Education Channel Raise Funds
o CareGuide Secures $10.6 Million in Third Round of Funding
o Home Improvement Site HomePro Raises GBP 2.7 Million
o Network Commerce Acquires Stake in ePublicEye.com
o Summit Microelectronics Raises $8.3 Million in Third Round

     New Products:
o Celotek Forms Network Security Provider Spin Off NetOctave
o Online Travel Guide Tripology Announces Launch of Website

     New Deals:
o GE Invests in Online Freight Transportation Firm FreightWise

     M&A:
o Student Advantage to Buy Struggling Rival CollegeClub.com
o Fusion Networks to Acquire Visualcom for Stocks and Warrants
o Logo Merchandise Firm MadeToOrder Buys Marketer Shea Hammond
o SafetyTips.com Makes Offer for APB, Deal Pending Hearing
o eVestment Acquires British Investment Network
o Rx.com Acquires Mail Order Pharmacy Prescription Care

     New Directors:
o ShoppingList.com Elects Ex-Flycast CEO To Board of Directors
o Interactive Silicon Names Transmeta Chairman to Board
o Cierra Photonics Adds Advanced Fiber Co-Founder to Board
o Click to Market Names New Member to Board
o Endwave Names Former TriQuint Executive to Board
o Life Science E-Tech Provider Taratec Adds New Board Member
o Net Communications Security Firm Sigaba Names Board Members
o World Wide Packet Elects Resort Owner Reiner Board Chairman

     New People:
o Wireless Data Firm Outercurve Names Ex-Warburg Exec as CEO
o Spanlink Names New CEO and Three Additions to Board
o Gate42 Technologies Names Former Juno Exec as CEO

     VC Fund News:
o German Publisher Axel Springer to Launch Venture Unit

     VC Personnel:
o Former ON Technology CEO Joins Dutch Fund NeSBIC
o Incubator bHive Names Ex-Bretlin Executive As President
o Former British Red Cross Exec. Assumes Cube8 CEO Role

     VW Corrections:
o SecureWorks

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

o BlueStream Ventures Raises $250 Million for First Fund

MINNEAPOLIS -- BlueStream Ventures said it raised
$250 million for a new venture capital fund. More
than one-third of the fund's capital was provided
by infrastructure industry executives. The fund
is focusing on next-generation infrastructure and
networking technology companies in the U.S. BlueStream
hopes to complete a second closing in the fall that
will increase the fund to $300 million. BlueStream
hopes to invest in about 20 companies over the next
two years, with earlier-stage investments of $3
million to $5 million and later-stage investments
of $5 million to $10 million. BlueStream recently
invested $10 million in the Series B financing of
Santa Clara, Calif.-based Metro-Optix, an optical
technology firm. Telephone 651-292-8900.
_____________________________________________

o VCs Rescue Drkoop.com With $20 Million, Clear Out Management

AUSTIN, Texas -- Publicly traded drkoop.com, which
provides users with health information online, said
it received $20 million in funding from a group
of investors including Prime Ventures, JF Shea Ventures,
Cramer-Rosenthal-McGlynn, and RMC Capital. The company
was on the verge of running out of cash. The leadership
of Prime Ventures also took over the top management
posts at drkoop.com. Richard M. Rosenblatt replaced
Donald Hackett as the company's chief executive
officer. Edward A. Cespedes was named president
and Stephen Plutsky now serves as chief financial
officer. Dr. C. Everett Koop, former U.S. Surgeon
General and a founder of the company, will continue
to serve as chairman of the board.
http://www.drkoop.com/
_____________________________________________

o Online Bill Payment Rivals Paytrust and PayMyBills.com Merge

PASADENA, Calif. -- Paytrust, a service that enables
consumers to receive, review, pay, and organize
all of their bills online, said it entered into
a definitive purchase agreement for an all-stock
acquisition of personal bill management services
company PayMyBills.com. The companies did not disclose
financial terms of the deal. Both co-founders of
Paytrust, CEO Edward G. McLaughlin and chairman
and president Flint Lane, will retain their positions
in the newly combined company. PayMyBills.com co-founder
and CEO John Tedesco will become chief strategy
officer. PayMyBills.com co-founder Jeff Grass will
continue in his role in business development, andp
resident and COO Jaynie Miller Studenmund will run
West Coast operations for Paytrust. Paytrust backers
include American Express, AT&T Ventures, Citigroup,
GE Equity, Goldman Sachs, NextCard, Softbank Venture
Capital, Spectrum Equity Investors and Thomas Weisel
Partners. PayMyBills.com is backed by E*Trade, ComVentures,
Financial Technology Ventures, idealab! and idealab
Capital Partners. Paytrust will expand its board
to include representatives from E*Trade, Financial
Technology Ventures, and idealab!.
http://www.paymybills.com/
http://www.paytrust.com/
_____________________________________________

o Mylackey.com Chief Executive Steps Down

SEATTLE -- Mylackey.com, which enables consumers
to arrange for the completion of errands online,
said its chief executive, Brian McGarvey, has resigned
his position. The company said Mr. McGarvey resigned
to allow a more experienced executive to run the
company. He will remain with the company as a member
of its board of directors. The chief executive's
responsibilities will be handled by the company's
senior management until a permanent replacement
is found. Mylackey.com is backed by Golden Gate
Partners, WaldenVC, and individual investors.
http://www.mylackey.com/
_____________________________________________

o Broadband Tech Firm Sigma Raises $20 Million in First Round

TORONTO -- Sigma Systems Group, which provides operational
support services for residential broadband service
and telecommunications service providers, said it
raised $20 million in its first round of funding.
Kleiner Perkins Caulfield & Byers and Redwood Ventures
were the sole investors in the round. The company
said it would use the funding for its intended expansion
in Europe and the U.S., establishment of a software
development facility in India, and increased reasearch
and development of new software and technologies.
http://www.sigma-systems.com/
_____________________________________________

o Ifilm in Strategic Deal With Independent Film Channel

BETHPAGE, N.Y. -- Rainbow Media Holdings, a subsidiary
of Cablevision Systems, and Ifilm, a Web site for
film fans, announced a strategic equity and content
agreement between the Independent Film Channel (IFC),
a division of Rainbow, and Ifilm. Rainbow will take
a 5% equity stake in Ifilm and will provide Ifilm
with on-air promotional time, delivered over several
years, on IFC. Ifilm and IFC will exchange content
and cross-promote throughout their Web, television,
and print properties. Also, IFC will pay Ifilm to
develop and produce 26 half-hour episodes annually
of a hosted magazine-style television show for IFC
focusing on independent films to air spring 2001.
Ifilm backers include Eastman Kodak, Liberty Digital,
Shamrock Capital Advisors, Sony, and Vulcan Ventures.
http://www.ifctv.com/
http://www.ifilm.com/

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

o Gallium Nitride Chip Maker Scores $13 Million First Round

RALEIGH, N.C. -- Nitronex, which plans to produce
chips and amplifiers for wireless base stations,
said it secured $13 million in a first round of
funding led by new investor Alliance Technology
Investors with new investors Southeast Interactive
Technology Funds and VantagePoint Venture Partners
contributing. The company will provide makers of
wireless devices with gallium nitride chips. The
funds will be used for product development. Nitronex,
which received $500,000 in seed funding from Centennial
Ventures, was recently spun off from the North Carolina
State University small business incubator. The company's
technology was developed by three material science
graduate students at North Carolina State University.
The company plans to launch its first product, a
microwave amplifier, within the next year.
http://www.nitronex.com/
_____________________________________________

o Wireless Developer SkyGo Raises $11 Million in Series A

SAN MATEO, Calif. -- SkyGo, a developer of technology
that enables companies to provide interactive marketing
via Internet-enabled mobile phones, said it raised
$11 million in its first, Series A round of funding.
Vanguard Venture Partners led the round, which also
included Ironweed Ventures, a new fund to launch
in October. The company will use the funding for
company growth and consumer research. SkyGo's technology
enables consumers to select the types of products
and services featured in the marketing messages
they receive.
http://www.skygo.com/
_____________________________________________

o Net Tech Firm United Devices Gets $13 Million in Round One

AUSTIN -- United Devices, which provides Internet
distributed computing technology, said it has secured
$13 million in first round funds from Softbank Venture
Capital, Oak Investment Partners, and other strategic
investors. United Devices said it will use the funds
to launch the first applications built on the company's
Internet distributed computing infrastructure.
http://www.ud.com/
_____________________________________________

o Web Site Defender Asta Gets $3 Million in First Round

SEATTLE -- Asta Networks, which provide products
and services to counter denial of service attacks,
said it has secured $3 million in its first round
of funding led by Madrona Venture Group and ARCH
Venture Partners. Asta has also appointed Alex Knight,
managing director at ARCH, and Greg Gottesman, a
managing director at Madrona, to its board of directors.
Daniel Weld, a professor of computer science at
the University of Washington, has also been appointed
to the board.
http://www.astanetworks.com/
_____________________________________________

o Display Developer Alien Technology Raises $80 Million

WILMINGTON, Del. -- Alien Technology, which has
developed a technology for producing active matrix
displays, said it raised $55 million in a third
round of equity funding and $25 million in equipment
lease financing. Financial investors provided about
half of the equity financing. Rho Management led
that group and all of Alien's previous investors
participated as well, including Sevin Rosen Funds,
New Enterprise Associates, CMEA Ventures, Brinson
Partners, and Dow Chemical. The remainder of the
equity came from strategic investors including new
investors Philips Electronics Flat Display Systems
group and Dupont iTechnologies and previous Toray
Engineering. The company did not disclose the source
of the lease financing. The funding will be used
to build and equip the company's first production
factory. Alien also formed joint technical agreements
with Philips and Dupont. Ben Terk of Rho will join
the board.
http://www.alientechnology.com/
_____________________________________________

o Auto Info Provider Edmunds.com Raises $36 Million Series B

SANTA MONICA, Calif. -- Edmunds.com, a consumer
resource for unbiased automotive information, said
it has raised $36 million in Series B funding. The
round was led by Cox Enterprises and included AutoLogic
Holdings and previous investors General Electric
Pension Trust and Rare Ventures. Edmunds plans to
use the funding for marketing and expansion. The
company also said that it has appointed Andrew Drake,
director of new media development for Cox Enterprises,
and John Merry, chief executive of AutoLogic Holdings,
to its board of directors. Edmunds' board now has
five members.
http://www.edmunds.com/
_____________________________________________

o Coriolis Networks Closes $20 Million in Second-Round Funding

BOXBOROUGH, Mass. -- Optical networking startup
Coriolis Networks, said it closed $20 million in
its second round of financing, bringing its total
raised to date to $28.5 million. Participating investors
in this round included new investor Boston University
Community Technology Fund, and previous investors
Columbia Capital, Bessemer Venture Partners, and
New Enterprise Associates. The funding will be used
for company growth and continued product development.
http://www.coriolisnet.com/
_____________________________________________

o FeedRoom News Network Raises $30 Million in Second Round

NEW YORK -- The FeedRoom, a personalized Web-based
interactive news network, said it has raised $30
million in its second round of funding led by Warbug
and Pincus Equity Partners. Existing investors Tribune
Ventures, NBC, Bear Sterns Constellation Ventures,
Ridgewood Capital, I-Hatch Ventures, New York City
Investment Fund, Angel Investors, and Telesoft Partners
also contributed. The company said the new funds
will be used to launch its national site, www.feedroom.com,
and the co-branded Tribune and NBC sites. The company
will also use the funds to add additional content
partners and expand its convergence technology.
Warbug Pinus will hold two seats on the Feedroom's
board of directors. Telephone 212-741-5106 x21.
_____________________________________________

o IP Unity Raise $12 Million in Series B from Kleiner Perkins

MILIPITAS, Calif. -- IP Unity, which develops voice
infrastructure technologies for networks, said it
raised $12 million in its Series B round of funding
from sole investor Kleiner Perkins Caufield & Byers.
The company had raised its initial funding from
Battery Ventures and New Enterprise Associates.
The two initial investors did not invest in the
second round in order for Kleiner Perkins to take
an equivalent 20% equity stake in the company. The
investment gives IP Unity a valuation of $60 million.
Battery Ventures and New Enterprise Associates,
who had each received a 30% stake, now hold 20%
of IP Unity. Vinod Khosla, a general partner with
Kleiner Perkins and board member of Juniper Networks,
Redback, and QWEST Communications, will take a seat
on the company's board of directors as a result
of the Kleiner Perkins investment.
http://www.ipunity.com/
_____________________________________________

o ApplianceWare Raises $14 Million in Second Round

FREMONT, Calif. -- ApplianceWare, a provider of
server appliance software services, said it has
raised an additional $14 million in second round
funding led by OppenheimerFunds. Other investors
include Scudder Kemper Investments and Sidus Investment
Management. The financing follows an earlier private
placement of $3 million led by Wit SoundView. The
company said the funds will be used for expansion
of its engineering team, product development, and
sales and marketing. There has been no change to
ApplianceWare's board of directors.
http://www.applianceware.com/
_____________________________________________

o Ericsson Takes 29% Stake in Mobile Marketing Firm Mediatude

STOCKHOLM, Sweden -- Ericsson Business Innovation,
a entrepreneurial business development company,
said it is taking a 29% stake in Mediatude, a company
specializing in targeted mobile marketing services
over voice, SMS, and WAP. Mediatude will shortly
launch its mobile advertising services in the U.K.
and Sweden. Previous investors in Mediatude include
Real Venture Group and individual investors.
http://www.mediatude.com/
_____________________________________________

o Event411.com Raises $16 Million in Second Round of Funding

MARINA DEL REY, Calif. -- Event411.com, which provides
online event-planning software tools through an
application services provider model, said it has
raised $16 million in its second round of funding.
The round was led by CB Capital, a Portland-based
venture capital fund. Gannett, an international
news and information company, and WI Harper Group
also participated in the financing, as did previous
investors Van Wagoner Funds, Sandler Capital Management,
and Camelot Capital. The company said it will use
the funds to enhance its professional and consumer
divisions,  grow sales, and to expand globally.
 Craig Berkman, principal of CB Capital, will join
Event411.com's board of directors. Mr. Berkman is
one of the founders of Applied Materials.
http://www.event411.com/
_____________________________________________

o Finnish Micro-Optics Firm Heptagon Gets $1.62 Million

HELSINKI, Finland -- Heptagon, a micro-optics company,
said it secured $1.62 million from InnovationsKapital,
a Swedish venture capital firm, and Sitra, a Finnish
National Fund. The company will use the funds to
expand company operations.
http://www.heptagon.fi/
_____________________________________________

o First Insight Raises $10.4 Million in Second Round

PORTLAN, Ore. -- First Insight, a provider of technology-based
services for eyecare practitioners, said it closed
a second round of funding at $10.4 million. Investors
include Richland Ventures,Validus, Moss Forest Ventures,
and HLM Partners. First Insight said the money will
be used to implement business strategies and to
develop its integrated, real-time e-commerce system,
paradEyes.com. The company had an earlier round
in September that raised $7.5 million. The company
has raised a total of $17.9 million. First Insight
supplies e-commerce services, practice management
software, and electronic medical records for opthalmology
practitioners.
http://www.first-insight.com/
_____________________________________________

o Incubator Cube8.com Takes 70% of E-Commerce Consultant

LONDON -- Cube8.com, a publicly traded British incubation
and investment company, said it invested GBP 550,000.00
($820,000.00) in Planet Three, a Web consulting
firm, for a 70% stake in the company. The investment
will enable Planet Three to expand its marketing
and services. The company said that David Cartwright,
chief technology officer of Cube8.com, will take
a seat on its board of directors as an executive
director. Two other Cube8.com employees, Dan Parker
and Phillip Marsden, will take non-executive seats
on the company's board as well.
http://www.planet-three.co.uk/
_____________________________________________

o Kraft Takes Stake in Ethnic Food Vendor EthnicGrocer.com

NORTHFIELD, Ill -- Kraft Foods said it has made
an equity investment in EthnicGrocer.com, a Web-based
retail site for ethnic foods and other products.
Kraft will share its supply chain and quality systems
with EthnicGrocer.com. Alene Korby, the senior vice
president of procurement for Kraft, will join EthnicGrocer.com's
board of directors. Integral Capital Partners, Kleiner
Perkins Caufield & Byers, Amerindo Investment Advisors,
Merrill Lynch, Benchmark Capital, and KB Partners
have all invested in EthnicGrocer.com, which raised
$34 million in its recent funding round.
http://www.ethnicgrocer.com/
_____________________________________________

o Redleaf Invests $5.5 Million in Net Healthcare Firm Medebiz

PITTSBURGH -- Redleaf Group, which provides services
and capital for seed stage Internet technology companies,
said it has invested $5.5 million in Medebiz, a
health care e-commerce service provider. In addition
to financial support, two Redleaf executives will
serve on Medebiz' board of directors. Medebiz will
have access to Redleaf Innovations, which offers
product development and Web integration capabilities
to Internet partner companies. Redleaf will also
provide Medebiz with recruiting assistance and will
develop alliances with service providers. Medebiz
was incubated last year by American Hytech.
http://www.redleaf.com/
_____________________________________________

o Telecomm Firm FirstMile Closes Second Round of Funding

INDIANAPOLIS -- FirstMile Technologies, a provider
of bundled telecom, high-speed data, security, and
video services to new home developments, said it
recently closed its second round of financing for
an undisclosed amount. Investors in this round included
Encore Venture Partners, Centex Corporation, Lennar
Corporation, and Pulte Corporation. The new funding
will be used to continue FirstMile's deployment
of bundled connectivity services across the country.
Richard Beckwitt, general partner of Encore, has
joined FirstMile's board of directors. Previous
investors include Nortel networks, Northwood Ventures,
and individual investors. Telephone 317-846-7311.

_____________________________________________

o THCG's Zinook to Invest $2 Million in Data Transmission Firm

NEW YORK -- Publicly traded THCG, through its wholly-owned
Israeli-based subsidiary, Zinook, said it will provide
$2 million along with its venture development services
to Israeli-based Xtend Networks for a 30% ownership
stake. Xtend Networks is working on increasing bandwidth
over regular CATV broadcast infrastructure. As part
of the deal, Zinook's V3 team will aid Xtend's technology
development and product marketing. Xtend is developing
core-technology and derivative products for the
transmission of data over standard television channels,
including cable and satellite.
http://www.thcg.com/
_____________________________________________

o WorldNet Resource Group Takes 20% Stake in MyMobileCity

SANTA CLARA, Calif. -- WorldNet Resource Group said
it has acquired a 20% stake in MyMobileCity, an
online consumer searching service accessible through
a worldwide wireless network. The financial terms
of the investment were not disclosed. MyMobileCity
is currently searching for its first round of funding.
The company's backers include individual investors.
http://www.mymobilecity.com/
_____________________________________________

o Agilera Secures $5 Million in Additional Round Two Financing

ENGLEWOOD, Colo. -- Agilera, a full-service application
service provider, said it secured $5 million from
GE Capital in its second round of financing, bringing
the round total to $85 million. The round was led
by First Union Capital Partners. Other investors
participating in the round include Providence Equity
Partners, Lonetree Partners, Unterberg, Towbin,
Verio, and Centennial Ventures. The financing will
go towards expansion.
http://www.agilera.com/
_____________________________________________

o Net Outsourcing Firm Riverstone Has $2.5 Million Round Two

CEDAR RAPIDS, Iowa -- Riverstone, a provider of
outsourced e-commerce services, said it raised $2.5
million in a second round led by Copia Capital and
Investcom International. The company also received
commitments for an  additional $1 million to be
completed in September. Representatives from both
companies will take seats on the board. The funding
will go towards expanding customer service support.
http://www.riverstoneinc.com/
_____________________________________________

o Online Customer Support Firm Nuasis Raises $25 Million

SAN JOSE, Calif. -- Nuasis, which provides an Internet
customer contact center deployed as a hosted service,
said it received $25 million in a third round of
funding led by Menlo Ventures with Tudor Ventures,
Oracle, Brentwood Venture Capital, and Grove Street
Advisors participating. Tom Bredt, general partner
and managing director at Menlo Ventures, joined
the company's board of directors.
http://www.nuasis.com/
_____________________________________________

o Sports Site Asimbia Raises $18.5 Million Series C

REDWOOD CITY, Calif. -- Asimbia, a sports and fitness
lifestyle site, said it raised $18.5 million in
its Series C round of funding led by McCown De Leeuw
& Co. I-Hatch Ventures and existing investors CMGI@Ventures,
Global Retail Partners, and Fayez Sarofim & Co also
participated. The company said the funds will be
used to develop and launch new products.
http://www.asimba.com/
_____________________________________________

o U.K. Net Clothier 9Feet.com Secures $4 Million Second Round

LONDON -- 9Feet.com, which sells clothing online,
said it raised $4 million in its second round of
funding from sole investor William Baird, a clothing
retail company. William Baird chief executive officer
David Suddens has joined the company's board of
directors. The company will use the funding to launch
its snow sportswear product line and to expand into
Germany. The company's first round raised approximately
$1 million from William Baird. 9Feet.com is also
backed by bainlab, the incubator of Bain & co, and
individual investors
http://www.9feet.com/
_____________________________________________

o Campusfood.com and Continuing Education Channel Raise Funds

NEW YORK -- UniversityAngels.com, an international
entrepreneur and angel investment resource for alumni
and students of selected academic institutions,
said that the Continuing Education Channel, a developer
of Internet-based education technology, and Campusfood.com,
which connects restaurants and students via online
menus, secured undisclosed financing from investors
in the UniversityAngels.com network.  The Continuing
Education Channel has developed technology designed
to allow continuing education providers and resellers
to expand the distribution of event-based programs,
and create and deploy online course content. Almost
1,500 investors are registered with UniversityAngels.com.
http://www.campusfood.com/
http://www.universityangels.com/
_____________________________________________

o CareGuide Secures $10.6 Million in Third Round of Funding

SAN FRANCISCO -- CareGuide, a Web-based care management
company for the elderly, said it has secured $10.6
million in its third round of funding led by Pequot
Capital Management. The investment also included
previous investors Nob Hill Capital Management.
CareGuide, which has raised $15 million to date,
said the funds will be used to finance selected
acquisitions and to expand proprietary technology.
 Lawrence Lenihan, Jr., managing director of Pequot
Capital, will join CareGuide's Board of Directors.
The company said it expects to complete another
funding round by the end of the year.
http://www.careguide.com/
_____________________________________________

o Home Improvement Site HomePro Raises GBP 2.7 Million

LONDON -- HomePro.com, a service dedicated to matching
homeowners undertaking home improvement projects
with pre-approved, professional contractors, said
it has raised GBP 2.7 million ($4 million) in its
third round of funding. The Carphone Warehouse Group
led the investment with GBP 2 million, while existing
investor Atlas Ventures added GPB 700,000. The funds
will be used to adhere to strategy plans that will
lead the company to a leadership role in the home
improvement realm. Previous backers in HomePro.com
include Jellyworks.com, Sussex Place Partners, and
London Business School Investment.
http://www.hompro.com/
_____________________________________________

o Network Commerce Acquires Stake in ePublicEye.com

LOS ANGELES -- Network Commerce, a provider of technology
infrastructure, services, and commerce networks,
said it acquired a stake in ePublicEye.com, a global
e-business rating service. Details of the agreement
were not  disclosed. ePublicEye.com said the deal
will strengthen its financial position and enable
it to continue its global expansion. The company
is backed by Auburn Capital and individual investors.
http://www.epubliceye.com/
_____________________________________________

o Summit Microelectronics Raises $8.3 Million in Third Round

CAMPBELL, Calif. -- Summit Microelectronics, a company
that develops semiconductors that manage the power
functions in communications system equipment, said
it raised $8.3 million in new funding. The investors
in this round, the company's third, are Norwest
Venture Partners, August Capital, and Bessemer Ventures.
All are prior investors. The funds will be used
to develop the company's manufacturing infrastructure
and for other purposes.
http://www.summitmicro.com/

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

o Celotek Forms Network Security Provider Spin Off NetOctave

RESEARCH TRIANGLE PARK, N.C. -- Celotek, a provider
of network security, said it has formed a spin off,
NetOctave, focused on the Internet device market.
NetOctave will develop Internet security services
targeted at network appliance, switch, and server
vendors. NetOctave's initial products will focus
on IPSec and SSL Technologies. Celotek's backers
include Wakefield Group, Kitty Hawk, TriState Investment
Group II, North Carolina Enterprise Corporation,
and BancAmerica Capital Investors.
http://www.celotek.com/
_____________________________________________

o Online Travel Guide Tripology Announces Launch of Website

SUNNYDALE, Calif. -- Online travel and lifestyle
guide Tripology announced the launch of its first
Web site that is a preview of the full site, which
is still in the developmental stages. The site will
function as a marketplace geared towards style-conscious
and affluent travelers that will offer travel information
and services. The company plans to raise its second
round of financing in a few weeks. Tripology is
backed by individual investors.
http://www.tripology.com/

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

o GE Invests in Online Freight Transportation Firm FreightWise

FORT WORTH, Texas -- FreightWise, an Internet marketplace
for freight transportation, announced that General
Electric will become a strategic investor in the
company in exchange for an undisclosed equity stake.
Details of the proposed agreement, which the companies
expect to formalize by the end of September, are
not being disclosed. The company, which also allows
exchange users to conduct online transactions, including
matching loads through financial settlement, said
it is currently in talks with other potential strategic
investors. FreightWise has also received funding
from the railroad company Burlington Northern Santa
Fe.
http://www.freightwise.com/

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

o Student Advantage to Buy Struggling Rival CollegeClub.com

BOSTON -- The online college community portal Student
Advantage said it signed a definitive agreement
to acquire most of the assets of San Diego-based
CollegeClub.com, a competitor in the online college
market that had filed bankruptcy protection earlier
this week. Publicly traded Student Advantage will
exchange $7 million in cash and 1.5 million shares
of  common stock, worth about $10.5 million. The
agreement also provides for an additional cash payment
of up to $5 million to CollegeClub.com if certain
Web site revenue performance goals are met next
year. Previous backers for CollegeClub.com include
Seligman Technology Group, Convergence Partners,
 Sony Corp. of America, Viventures and NBC as well
as indivdual investors.
http://www.collegeclub.com/
http://www.studentadvantage.com/
_____________________________________________

o Fusion Networks to Acquire Visualcom for Stocks and Warrants

MIAMI -- Fusion Networks, a provider of internet
marketing software, portal technology and content,
said it signed a letter of intent to acquire Visualcom,
an Internet consulting company for two million shares
of stock, which closed Tuesday at $1 per share,
and 2.5 million warrants. Additional terms include
one million additional shares and 1.5 million warrants
to be held in escrow until certain revenue requirements
have been met by Visualcom. Also included, is the
purchase of Fusion Networks stock valued at approximately
$500,000, by current Visualcom shareholders to be
used for financing the company's operational expenses
during the transition. Completion of the transaction
is subject to negotiation and approval by the boards
of both companies and Visualcom's shareholders and
certain other conditions. Andre L. Vanyi-Robin,
the president of Visualcom will become the chief
strategic officer at Fusion Networks. Investors
for Fusion Networks include Infospace.com and Wired
Empire, a subsidiary of MSGI.
http://www.visualcom.net/
http://www.latinfusion.com/
_____________________________________________

o Logo Merchandise Firm MadeToOrder Buys Marketer Shea Hammond

REDWOOD CITY, Calif. -- MadeToOrder.com, a source
for logo merchandise, said it is acquiring Shea
Hammond, a creative promotional marketing group
that provides logo merchandising programs and creative
advertising specialty services. The value of the
deal was not released. Lisa Hammond, chief executive
officer of Shea Hammond, will join MadeToOrder.com
as vice president of merchandising. MadeToOrder.com
expects the closing of the deal to take place in
early September 2000. MadeToOrder is backed by Charter
Ventures, Nexus Group, Alloy Ventures, Alpine Technology
Ventures, and Sara Lee.
http://www.sheahammond.com/
http://www.madetoorder.com/
_____________________________________________

o SafetyTips.com Makes Offer for APB, Deal Pending Hearing

NEW YORK -- APB Online, the operator of the news
site APBnews.com, said Waltham, Mass.-based SafetyTips.com,
which provides companies and individuals with safety
information, offered to acquire ABP Online for $950,000.
A spokesperson for APB Online said the company can't
close the deal without the approval of its creditors.
APB Online, which ran out of money in June and filed
for Chapter 11 bankruptcy protection on July 5,
has a hearing scheduled for September 1. According
to the spokesperson, the outcome depends on what
the company's creditors, who are owed approximately
$7 million, decide to do. APB Online raised and
spent about $27 million from investors including
Storie Partners, Galleon Partners, and J&W Seligman.
http://www.apbnews.com/
_____________________________________________

o eVestment Acquires British Investment Network

LONDON -- eVestment, which provides development
and investment services for startup companies, said
it acquired Capital Exchange, a network linking
entrepreneurs with private investors. eVestment
previously held a 24.3% stake in Capital Exchange
with an investment of GBP 300,000 ($447,000). The
value of the acquisition of the company is GBP 775,000
 eVestment has several portfolio companies including
5GM.com, Web2p.com, Sellso.com, 4Hightech.com, Educentre.com,
Wave.com, and iDefense.com.
http://www.capitalexchange.co.uk/
http://www.evestment.co.uk/
_____________________________________________

o Rx.com Acquires Mail Order Pharmacy Prescription Care

AUSTIN, Texas -- Rx.com, an Internet pharmacy and
healthcare information resource, said it acquired
Prescription Care, which provides mail-order prescriptions.
Terms of the transaction were not disclosed. Rx.com
is backed by Alliance UniChem, CBS, which acquired
a 20% stake in the company last year, and by unnamed
institutions and individuals.
http://www.rx.com/

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

o ShoppingList.com Elects Ex-Flycast CEO To Board of Directors

SUNNYVALE, Calif. -- ShoppingList.com, which provides
shopping information resource for consumers, retailers,
and manufacturers, said it appointed George Garrick
to its board of directors. Mr. Garrick is the principal
at G2 Ventures and the former CEO and president
of Flycast Communications. ShoppingList.com is backed
by Trinity Ventures, Brentwood Venture Capital,
Venture Strategy Partners, Comdisco Ventures, and
Technology Development Fund.
http://www.shoppinglist.com/
_____________________________________________

o Interactive Silicon Names Transmeta Chairman to Board

AUSTIN, Texas -- Interactive Silicon, a semiconductor
and software company, said  Murray Goldman, chairman
of Transmeta, joined its board of directors. Prior
to joining Transmeta, Mr. Goldman was vice president
and assistant general manager of Motorola's semiconductor
products sector. There are now five members on Interactive
Silicon's board of directors. The company's backers
include Band of Angels Fund, Dell Computer, Siemens
Venture Capital, Synopsys, Austin Ventures, and
individuals from Band of Angels.
http://www.interactivesi.com/
_____________________________________________

o Cierra Photonics Adds Advanced Fiber Co-Founder to Board

SANTA ROSA, Calif. -- Cierra Photonics, which designs
and manufactures wavelength discrimination components
for the fiber optic telecommunications industry,
said it has appointed Donald Green to its board
of directors. Mr. Green co-founded Advanced Fiber
Communications, Optilink Corp., and Digital Telephone
Systems. Cierra Photonics, which was founded early
this year, is backed  by the Mayfield Fund.
http://www.cierraphotonics.com/
_____________________________________________

o Click to Market Names New Member to Board

SAN MATEO, Calif. -- Click To Market, a provider
of real-time technology for community collaboration
management, said it named Joseph A. Prang to its
board of directors. Mr. Prang is the founder of
the Mentor Capital Group. Click To Market is backed
by individual investors.
http://www.clicktomarket.com/
_____________________________________________

o Endwave Names Former TriQuint Executive to Board

SUNNYVALE, Calif. -- Endwave, a provider of radio
frequency subsystems that enable the transmission
and reception of data signals in broadband wireless
systems, said it appointed Ed Winn to its board
of directors, bringing membership to six. Mr. Winn
was previously the CFO at TriQuint. Endwave backers
include Crescendo, Gilder Group, Goldman Sachs,
Invesco, Morganthaler Ventures, Oak Investment Partners,
and Walden Group.
http://www.endwave.com/
_____________________________________________

o Life Science E-Tech Provider Taratec Adds New Board Member

BRIDGEWATER, N.J. -- Taratec Development Corporation,
a provider of  regulatory compliance consulting
services and Internet and computer systems for the
life science industry, said that David Gatham has
joined the company's board. Mr. Gatham was the CFO
and Treasurer of Internet Capital Group. Taratec
recently completed a $5 million first round of funding
in June that added three board members. Taratec
is backed by Edison Venture Fund and LLR Equity
Partners.
http://www.taratec.com/
_____________________________________________

o Net Communications Security Firm Sigaba Names Board Members

SAN MATEO, Calif. -- Sigaba, a secure Internet communications
company, announced the formation of its board of
directors. The board comprises Rick Crandall, the
founder and chairman of Comshare and managing director
of Arbor Venture Partners; Gary Friedman, a former
IBM executive and co-founder of ITEL; John Landry,
who serves as Strategic Technologist to IBM's top
executive management; Pavan Nigman, the co-founder
of Healtheon; and Sigaba co-founders Terry Olkin
and Jim Wood. The company received $4.5 million
in its first round funding from Thomas Weisel Partners'
Tailwind Fund and individual investors.
http://www.sigaba.com/
_____________________________________________

o World Wide Packet Elects Resort Owner Reiner Board Chairman

SPOKANE, Wash. -- World Wide Packets, a service
provider for optical broadband connectivity, said
it has elected Dan Reiner chairman of its board.
He is the first person to sit on World Wide Packet's
board. Mr. Reiner, an investor in World Wide, is
a founder of Optical Devices. He is also an owner
and partner in numerous golf courses and resorts,
including Granit Cabo del Sol, Pebble Beach, Bay
GC, and Club Corp.  World Wide Packets is currently
in its second round of funding, having closed a
founders' round of $20 million on July 10 that included
employees and associates. The company has not yet
named any of the investors.
http://www.worldwidepackets.com/

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

o Wireless Data Firm Outercurve Names Ex-Warburg Exec as CEO

NEW YORK -- OutercurveTechnologies, a provider of
wireless data services, has named Arnie Reichman
as CEO. Mr. Reichman replaces Eric Solosh, who is
now the company's president. Prior to assuming his
role as CEO, Mr. Reichman worked at Warburg Pincus
Asset Management as chief operating officer and
senior management partner. Outercurve is backed
by Research In Motion, MSD Capital, Time Warner
Digital Media, and First Union Bank.
http://www.outercurve.com/
_____________________________________________

o Spanlink Names New CEO and Three Additions to Board

MINNEAPOLIS -- Spanlink Communications, which provides
communications products and services, said it named
Mark Francis as president and CEO. Mr. Francis was
the vice president of business development at Spanlink
prior to this appointment. Spanlink also appointed
three new members to its board: Eugene Lee of Cisco
Systems, Teri Dahlbeck of GotMarketing.com, and
Tom Kieffer of Agiliti. Investors for Spanlink include
Cisco Systems.
http://www.spanlink.com/
_____________________________________________

o Gate42 Technologies Names Former Juno Exec as CEO

NEW YORK -- Gate42 Technologies, a developer of
Internet-based business communications technology,
announced the appointment of Robert H. Cherins as
its new chief executive officer. Cherins' most recent
position was as the executive vice president and
chief marketing officer for Juno Online Services.
Gate42 investors include Shalom.com and Evergreen
Robertson Stephens.
http://www.gate42.com/

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

o German Publisher Axel Springer to Launch Venture Unit

POTSDAM, Germany -- Axel Springer, the German publishing
group, said it will launch a new venture capital
fund with several hundred million Euros. The fund
will invest in Internet ventures related to new
media and publishing ventures. The company said
the investment unit, AS Ventures, will be based
in Potsdam and begin operations at the end of the
year. Jens Mueffelman, a director of strategic development
with Axel Springer, will work with AS Ventures.
http://www.asv.de/

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

o Former ON Technology CEO Joins Dutch Fund NeSBIC

UTRECHT, the Netherlands -- NeSBIC CTe fund, an
early-stage pan-European venture capital fund, said
Herman DeLatte joined the firm as a general partner.
Mr. DeLatte formerly served as chief operating officer
of Micrografx, and most recently worked for ON Technology
as president and CEO. Mr. DeLatte will concentrate
on investments in Internet technology and e-commerce
software and services companies. Portfolio companies
of the NeSBIC CTe fund include VersaTel Telecom,
EC-Gate, Intapps, Altitude Software, Firstquote,
and Canalweb.
http://www.nesibc.com/
_____________________________________________

o Incubator bHive Names Ex-Bretlin Executive As President

CONSHOHOCKEN, Pa. -- bHive, a technology incubator
and accelerator, said it hired Michael C. Kolar
as president. Mr. Kolar was formerly vice president
of sales, marketing, and business development of
Bretlin, a subsidiary of the Dixie Group. As bHive's
new president he will be in charge of business development
as well as the day-to-day operations of the company.
The company also said Mr. Kolar will expand bHive
into two new Northeastern cities in 2001.
http://www.bhive.net/
_____________________________________________

o Former British Red Cross Exec. Assumes Cube8 CEO Role

LONDON -- Cube8.com, a technology, media, and telecom
incubator that also provides strategic management
consulting and technology services, said it has
hired Brian Hindson as its new CEO. The announcement
will be effective September 1, 2000. Mr. Hindson
replaces Tim Dean-Smith, who will retain the role
of executive chairman. Prior to joining Cube8, Mr.
Hindson held the position of deputy CEO at the British
Red Cross.
http://www.cube8.com/

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

o SecureWorks

NEW YORK -- An article in yesterday's VentureWire
incorrectly reported that Jardon Bouska was named
SecureWorks' president and CEO. He is the new president
and COO.

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