======================================================
VENTUREWIRE --- Thursday, October 5, 2000
======================================================
Private Company Business News
------ Published Daily by Technologic Partners -------
http://technologicpartners.com
======================================================

Top Stories:

o Broadcom Buys Chip Maker Element 14 for About $640 Million
o Sony Broadband Launches Incubator 550 Digital Media Ventures
o Business Incubator GameChange Launches with $100 Million
o $200 Million First Close For $300 Million New Polish Fund
o Productopia Review and Advice Site Closes Down
o Optical Networking Firm CyOptics Secures $57 Million

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Also in This Issue:

New Money:
o Customer Management Firm Talisma Has $31.5 Million Round One
o Ripcord Systems Raises $16.5 Million From Softbank UK
o ASP ACTIV-e Solutions Gets $550,000 Funding in First Round
o E-Customer Service Firm IslandData Has $7.5 Million Series A
o E-Marketplace Advisor Novoforum Launches With $8.2 Million
o Expense Management Tech Firm Bizexpense Gets $1 Million Seed
o IT Services Provider iCelerate Raises $1 Million Seed Round
o Shopping Search Engine PriceNgine Gets $1 Million Round A
o Software Marketplace Salmon River Software Raises Seed Funds
o E-Commerce Tech Firm Cyclone Raises $31 Million Series B
o Actional Raises $17.7 Million in Second Round of Funding
o Employee Purchasing Plan E-Duction Gets $8 Million Round Two
o Heavy Equipment Market Vendquest Gets $6.3 Million Round Two
o Paytrust and PayMyBills Close Merger Deal, Gets $20 Million
o E-Business Tech Firm ePartners Gets $35 Million Round Three
o New U.K. VC Far Blue Invests $873,000 in Polaris Telemetry
o Financial Tech Firm Alterna Gets $19.9 Million Third Round
o Wireless Technology Firm ITFinity Has New Individual Backers
o E-BizChain Gets $8 Million from Kleiner Perkins and Asera
o Infrastructure Firm NetScaler Gets $35 Million Series D
o Web-Based Teacher Trainer WebED Gets Funding From VIMAC

New Products:
o Feld Group Spins Off Software Management Firm Contrado
o Charity ASP CoreMatter Launches Service, eGiving Workplace
o Job Site Wayfair.com Prepares to Launch on Monday
o Network Storage Services Firm Pyxsys Launches

New Deals:
o Amazon.com Forms Alliance with Photography Service Ofoto

M&A:
o WatchGuard Buys Security Software Firm Qiave for $66 Million
o Peopleclick Acquires Net Sourcing Technology Firm Claybrooke

New Directors:
o Oblix Chief Joins Workforce Management Firm Icarian's Board
o Employee Management Service IQNavigator Names Boardmembers

New People:
o Former President and CEO of Lotus Named Head of Maptuit
o Studionext Names Independent Film Producer First CEO
o Worker Communication Firm Verticore Hires President & COO
o E-Security Firm Solfsoft Names Its COO To Board, CEO Post
o Sales Training Firm The Richardson Company Names Co-CEO

VC Fund News:
o $20 Million Fund Created By Emerging Imaging Technologies
o European Investment Firm Far Blue to Close on $14.6 Million
o Sports Restaurant Chain Launches Champions Tech Ventures

VW Amplification:
o Primus Venture Partners

VW Corrections:
o 3Plex
o Pivotal Asset Management

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

o Broadcom Buys Chip Maker Element 14 for About $640 Million

IRVINE, Calif. -- Broadcom, a publicly traded company
which provides integrated circuits for broadband
communications, said it will acquire Cambridge,
U.K.-based Element 14, which develops digital subscriber
line chipsets, software, and communications processor
technology, for 2.65 million shares of stock, or
about $640 million, in an all-stock transaction.
Following the acquisition, Broadcom will establish
a new DSL business unit to be headed by Stan Boland,
Element 14's president and CEO. Element 14 is backed
by Bessemer Venture Partners, Atlas Venture, Amadeus
Capital Partners, NIF Ventures, TTP Ventures, and
Sofinnova Venture Partners.
http://www.broadcom.com/
http://www.element-14.com/
_____________________________________________

o Sony Broadband Launches Incubator 550 Digital Media Ventures

NEW YORK -- Sony Broadband Entertainment said it
formed a subsidiary, 550 Digital Media Ventures,
that will incubate, fund, and acquire digital media
companies. Sony has contributed several hundred
million to the venture. Working with Sony Corp.
of America (SCA), Sony Music Entertainment (SME),
and Sony Pictures Entertainment (SPE), 550 Digital
Media Ventures will develop and manage a network
of digital media companies. Initially, the network
will consist of about 35 companies. 550 Digital
Media Ventures will focus on broadband services,
wireless, personal broadcasting, e-mail and direct
marketing, digital asset management, e-commerce
facilitation, and professional Internet services.
550 Digital Media Ventures will target companies
based in the U.S. Howard Stringer, chairman and
CEO of SCA and president of SBE, will be chairman
of 550 Digital Media Ventures. Fred Ehrlich will
serve as president and CEO of the new subsidiary,
and continue to act as president of new technology
and business development for SME. The company will
be headquartered in New York, with offices in San
Francisco, Los Angeles, and London.
http://www.550dmv.com/
_____________________________________________

o Business Incubator GameChange Launches with $100 Million

PALO ALTO, Calif. -- Andersen Consulting's venture
capital unit AC Ventures and Softbank Venture Capital
said they have launched GameChange, a network of
incubators and seed investment centers, with investments
totaling up to $100 million. GameChange opened its
first incubation center in Palo Alto, and will establish
a total of ten incubation centers in areas with
high technology developent and focus on technology
companies in high-growth markets such as Internet
comerce, software, and infrastructure. AC Ventures
and Softbank will provide services to portfolio
companies of GameChange, which will also work with
companies independently. The new firm will invest
up to $2 million in its companies and will incubate
them for an average of six months. Barry W. Carter
and Scott Killips of AC Ventures and Rex Golding
and Gary E. Rieschel of Softbank will sit on the
company's board of directors. GameChange's founding
managing directors are Par Arvidsson, a former partner
with consulting firm Strategic Decisions Group,
and Mark Lockareff, former vice president of corporate
development with Excite@Home.
http://www.gamechange.com/
_____________________________________________

o $200 Million First Close For $300 Million New Polish Fund

WARSAW -- Enterprise Investors, which provides private
equity and investment services in Poland and Central
Eastern Europe, said it raised $200 million in the
first closing for its fourth fund, PEF IV. Enterprise
Investors intends to close the fund with $300 million
in capital. PEF IV will make investments of between
$3 million and $25 million in IT and Internet, telecommunications,
pharmaceuticals, healthcare, consumer goods, industrial
products, energy, financial services, and media.
The fund will concentrate on investments in Poland
but may invest 20% of its committed capital to companies
in other Central European nations. Investors who
took part in the first closing of Polish Enterprise
Fund IV include EBRD, CalPERS, MetLife, Bank Vontobel
AG, General Motors Retirement Fund, Partners Group,
New York Life, Enterprise Investors, and  Frank
Russell Capital.
http://www.ei.com.pl/
_____________________________________________

o Productopia Review and Advice Site Closes Down

SAN FRANCISCO -- Productopia, which provided third-party
advice about products for online customers, said
it closed. The site, which raised $16 million in
a second round funding in February, had been backed
by investors including Amicus Investments, Angel
Investors, Arba Seed Investment Group, Bessemer
Venture Partners, Osprey Ventures, and RRE Ventures.
Telephone 415-856-4006.
http://www.productopia.com/
_____________________________________________

o Optical Networking Firm CyOptics Secures $57 Million

HAIFA, Israel -- CyOptics, which designs, manufactures,
and markets high-performance optical networking
components, said it has secured $57 million in venture
capital funding. Participants in the round include
Cisco Systems, Corning, Intel Capital, and Vitesse.
Semi-Conductors Devices (SCD), a partnership owned
equally by military technology firms Elbit Systems
and Rafael Armaments Development Authority also
invested $4.8 million in the current round.  Prior
to this investment, SCD held approximately 26.1%
of CyOptics and now has 22.8%. CyOptics original
shareholders, including SCD, also participated in
the round.
http://www.cyoptics.com/

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

o Customer Management Firm Talisma Has $31.5 Million Round One

SEATTLE -- Talisma, which develops products that
enable companies to manage customer interactions
on their Web sites, said it secured $31.5 million
in first round funding led by Oak Investment Partners.
Madrona Venture Partners, Carlyle Group, SeaPoint
Ventures, and Cedar Grove Investments also participated
in the round of financing. Fred Harman, general
partner at Oak Investment Partners, and Tom Hughes
of Cedar Grove Investments, will join Talisma's
board. The company will use the funding for international
expansion and product development.
http://www.talisma.com/
_____________________________________________

o Ripcord Systems Raises $16.5 Million From Softbank UK

LONDON -- Ripcord Systems, which develops wireless
products and services connecting mobile users with
corporate systems, said it raised $16.5 million
in its first round of funding. The round was entirely
funded with capital from Softbank UK Ventures. The
company said it will use the funds to grow its existing
operations in Europe and North America, expand into
Asia, and develop new technologies. Both David Sola,
a partner with Softbank UK and Mark Booth, a managing
partner with Softbank UK, will take seats on the
company's board of directors as a result of the
investment.
http://www.ripcordsystems.com/
_____________________________________________

o ASP ACTIV-e Solutions Gets $550,000 Funding in First Round

PLYMOUTH MEETING, Pa. -- ACTIV-e Solutions, an application
service provider, said it raised $550,000 in its
first round from Mentor Capital and individual investor
Ken Macrae, retired founder of Keystone Venture
Capital. The company will use the funds to develop
and build its ASP. ACTIV-e specializes in the use
of Citrix technology for high-speed access to Windows
NT and UNIX business applications.
http://www.active-e.com/
_____________________________________________

o E-Customer Service Firm IslandData Has $7.5 Million Series A

CARLSBAD, Calif. -- IslandData, a provider of automated
response technology for the online customer service
market, said it raised $7.5 million in its Series
A round from MK Global Ventures, Whelan & Gratny
Capital Management, and PSI Net. The company will
use the funds for expansion.
http://www.islanddata.com/
_____________________________________________

o E-Marketplace Advisor Novoforum Launches With $8.2 Million

HOUSTON -- Novoforum, which helps business select
viable electronic marketplaces, announced it has
launched. The company received $8.2 million in its
first round of funding from Austin Ventures, Trellis
Partners, Excalibur Partners, and Sanders Morris
Harris. The company said it is using the funds to
continue research and development, expand the electronic
marketplace analysis function, to develop Internet
management consulting services and for marketing.
The company was founded by CEO John Lee, who was
senior vice president of process verticals for Oracle.

http://www.novoforum.com/
_____________________________________________

o Expense Management Tech Firm Bizexpense Gets $1 Million Seed

SUNNYVALE, Calif. -- Bizexpense.com, a provider
of business-to-business expense management software
and services, said it raised $1 million in its seed
round from Arcturus Capital. The company will use
the funds to launch its expense management software
designed to reduce costs for businesses by streamlining
the management of travel and entertainment expenses.
http://www.bizexpense.com/
_____________________________________________

o IT Services Provider iCelerate Raises $1 Million Seed Round

SAN JOSE, Calif. -- ICelerate, which provides technology
and services such as development, hosted applications,
and Internet maintenance, said it secured $1 million
in its seed round of funding from Global Internet
Ventures and Ashok Narasimhan, a former senior executive
at VeriFone. The company said it will use the funds
to acquire Sarsoft, an application software implementation
and consulting service, and to begin building development
capabilities in India. Bruce Robertson, director
of Investments at Global Internet Ventures, and
Mr. Narasimhan have joined iCelerate's board of
directors.
http://www.icelerate.com/
_____________________________________________

o Shopping Search Engine PriceNgine Gets $1 Million Round A

LOS ANGELES -- PriceNgine Technologies, which provides
technology designed to assist customers with online
shopping, said it raised $1 million in its Series
A round of financing from an undisclosed individual
investor. The company will use the funds to develop
its technology, search engine features, and to start
their business-to-business sales efforts.
http://www.pricengine.com/
_____________________________________________

o Software Marketplace Salmon River Software Raises Seed Funds

BOXFORD, Mass. -- Salmon River Software, an online
portal marketplace for buyers and sellers of enterprise
software, said it raised an undisclosed amount of
financing in its seed round from individual investor
John Prendergast. Mr. Prendergast is vice president
of operations and management for Technauts, which
provides software for Internet appliances. The company
is currently negotiating its Series A round of funding.
http://www.salmonsoft.com/
_____________________________________________

o E-Commerce Tech Firm Cyclone Raises $31 Million Series B

SCOTTSDALE, Ariz. -- Cyclone Commerce, a platform
provider for business-to-business electronic commerce,
said it has raised $31 million in its Series B round
of funding led by Koch Ventures and Trinity Ventures.
The company said the funds will go towards expansion.
Jeff Hardesty, managing director at Koch Ventures,
and Tim McAdam, general partner at Trinity Ventures,
have joined the Cyclone board.
http://www.cyclonecommerce.com/
_____________________________________________

o Actional Raises $17.7 Million in Second Round of Funding

MOUNTAIN VIEW, Calif. -- Actional, a provider of
Internet business integration software for market
applications, said it raised $17.7 million in its
second round from new investors NeoCarta Ventures
and Zesiger Capital Group. Previous investors New
Enterprise Associates, International Capital Partners,
and individual investors also participated. The
company will use the funds to develop and market
its Internet business integration product, Actional
Control Broker. Karin Kissane of NeoCarta joined
Scott Sandell from New Enterprise Associates and
Doug Ayer from International Capital Partners on
Actional's board.
http://www.actional.com/
_____________________________________________

o Employee Purchasing Plan E-Duction Gets $8 Million Round Two

PHILADELPHIA -- MarketMembers.com, whose product
enables employees to make purchases of up to 2.5%
of their annual salary free of interest, with payment
to be deducted from future paychecks for up to six
months, said it changed its name to e-Duction and
received $8 million in a round of funding led by
New York City-based RRE Ventures. Participation
in the round also came from PA Early Stage, a Safeguard
Scientifics affiliated private equity fund, and
Keystone Venture Capital. Jim D. Robinson III of
RRE Ventures was named to the company's the board.
The proceeds from the round will go towards launching
the company's new employee benefits program.
http://www.e-duction.com/
_____________________________________________

o Heavy Equipment Market Vendquest Gets $6.3 Million Round Two

MURRAY HILL, N.J. -- Vendquest, a marketplace for
buyers and suppliers of heavy industry and trucking
equipment, said it secured $1.8 million in its second
round of funding from Terex, bringing the total
amount raised in the round to $6.3 million. The
company said other participants in the round include
industry and individual investors. The company said
it will use the funds to develop its technology
platform and marketplace. The company was originally
backed by a $3 million investment from founder Conti
Enterprises.
http://www.vendquest.com/
_____________________________________________

o Paytrust and PayMyBills Close Merger Deal, Gets $20 Million

LAWRENCEVILLE, N.J. -- Online bill payment services
Paytrust.com and PayMyBills.com, said they have
finalized the merger of the two companies, and concurrently
received $20 million in venture capital. The financing
was provided by American Express, Citibank, ComVentures,
E*TRADE, FTVentures, GE Equity, idealab Capital
Partners, SOFTBANK Venture Capital, and Spectrum
Equity Investors. The companies said they will use
the funds to further develop Paytrust, the parent
company of the combined organization.
http://www.paymybills.com/
http://www.paytrust.com/
_____________________________________________

o E-Business Tech Firm ePartners Gets $35 Million Round Three

DALLAS -- ePartners, which provides businesses with
electronic business technology, said it has secured
$35 million in its third round of funding led by
Texas Growth Fund. The round also included Liberty
Mutual Group and Austin Ventures, which has invested
more than $22 million in the company to date. ePartners
said it will use the funds to reduce its debt, build
its technology, and fuel its demand generation marketing
programs.
http://www.epartnersolutions.com/
_____________________________________________

o New U.K. VC Far Blue Invests $873,000 in Polaris Telemetry

LONDON -- Far blue, a new English accelerator and
investment vehicle, said it invested $873,000 in
Polaris Telemetry, which develops technology for
the online regulation of environmental controls.
The company said Polaris will use the funds for
business expansion into other European markets.
Polaris Telemetry currently provides systems networking
for security, fire protection, energy management,
and power control, and switching. Far blue will
take two seats on the company's board of directors
as a result of its investment. Both its chief technology
officer and its chief finance officer will assume
positions on the board.
http://www.farblue.com/
http://www.polaris-tel.co.uk/
_____________________________________________

o Financial Tech Firm Alterna Gets $19.9 Million Third Round

CALGARY, Ontario -- Alterna Technologies, a financial
technology company that delivers financial and business
transactions over the Internet, said it has raised
CAD $30 million ($19.9 million) in its third round
of funding round led by Ontario Municipal Employee
Retirement Systems. The financing also included
Whitecastle Investments, a Canadian and an international
bank, and Cargill. The funds will be used to support
the company's growth.
http://www.alterna.com/
_____________________________________________

o Wireless Technology Firm ITFinity Has New Individual Backers

BOMBAY, India -- ITFinity Solutions, which develops
wireless technology that operates a Web portal dedicated
to mobile phone service, said it received new funding
from individual investors. McKinsey & Co. managing
director Rajat Gupta and Wind River vice chairman
Naren Gupta have invested in the company for a combined
equity stake of 5%. The company recently released
its first product, a wireless portal platform which
enables operators, portals, and enterprises to be
WAP-enabled. The company is also backed by Edelweiss
Capital, which holds a 25% equity stake, and incubator
Idea Cradle. ITFinity Solutions will be raising
a venture capital round soon and hopes to close
on between $3 million and $5 million.
http://www.itfinity.com/
_____________________________________________

o E-BizChain Gets $8 Million from Kleiner Perkins and Asera

ORLANDO, Fla. -- E-BizChain, an enterprise supply
chain provider of advanced XML/EDI services that
link online buyers and suppliers, said Kleiner Perkins
Caufield & Byers has taken a minority equity stake
as lead investor in the company, with a co-investment
from Internet business services provider Asera.
Both companies have invested a total of $8 million.
E-BizChain is being launched as a separate company
by its parent company, IntraGlobe, which was founded
in 1998 by Jogen Shah.
http://www.e-bizchain.com/
_____________________________________________

o Infrastructure Firm NetScaler Gets $35 Million Series D

SANTA CLARA, Calif. -- NetScaler, which develops
infrastructure technologies that accelerate and
protect online transactions, said it secured $35
million in its Series D round of funding. New investor
Goldman Sachs led the round, which included other
new investors Bay Partners and Mellon Ventures as
well as previous investors Credit Suisse First Boson
and Gabriel Venture Partners. Ankur Sahu of Goldman
Sachs will join the company's board of directors.
The company will use the funding to develop Internet
infrastructure devices and applications.
http://www.netscaler.com/
_____________________________________________

o Web-Based Teacher Trainer WebED Gets Funding From VIMAC

HAMPTON, N.H. -- WebED, which provides online professional
development training for educators, said it has
secured an undisclosed amount of funding from Venture
Investment Management Company (VIMAC), a Boston-based
venture capital firm. The funds will be used for
sales and marketing expansion and product development.
Prior to this round, WebED raised nearly $5 million
through a series of angel financing rounds.
http://www.webed.com/

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

o Feld Group Spins Off Software Management Firm Contrado

DALLAS -- Technology and management services provider
Feld Group said it spun off Contrado, a provider
of software management services, with an undisclosed
investment from Softbank Venture Capital. Softbank
will also provide services to the firm. The Feld
Group still holds equity in Contrado. Contrado offers
services that enable users to deliver software and
configurations to different devices. The company
is headquartered in Dallas, has an office in Jacksonville,
Florida, and is led by president and CEO Kenny Feld.
http://www.contrado.com/
_____________________________________________

o Charity ASP CoreMatter Launches Service, eGiving Workplace

SAN FRANCISCO -- CoreMatter, formerly All Charities,
a provider of community involvement applications
and services to companies, said it launched its
first product, eGiving Workplace. The product will
help companies manage employee workplace giving
by eliminating paperwork and giving companies an
application that supports, manages, tracks, and
reports on employee donations. CoreMatter is backed
by Jesse Hansen & Co. and individual investors.
http://www.corematter.com/
_____________________________________________

o Job Site Wayfair.com Prepares to Launch on Monday

CHICAGO -- Wayfair.com, an online staffing service,
said it will launch its Web site on October 9. The
site will offer employers reduced fees and job applicants
a hiring bonus plus an additional $1,000 for referring
another successful applicant. The site prequalifies
job applicants by having them fill out an online
form. If the applicants do not qualify, they are
redirected to jobs that match their backgrounds.
The launch was funded with an undisclosed amount
of first-round financing from individual investors.
http://www.wayfair.com/
_____________________________________________

o Network Storage Services Firm Pyxsys Launches

CAMBRIDGE, Mass. -- Arthur D. Little (ADL), a management
and technology consulting firm, announced the launch
of Pyxsys, a stand-alone company that will develop
and deliver network storage services and operate
as a wholly owned subsidiay of ADL. Pyxsys was launched
by ADL Capital, an incubator established by Arthur
D. Little, with $7.5 million in first round financing.
The company also said Pyxsys acquired Papillon Research,
a provider of technical design services and support
for processors and computer board designers, in
a stock transaction. ADL did not disclose financial
terms of the deal.
http://www.pyxsystech.com/

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

o Amazon.com Forms Alliance with Photography Service Ofoto

SEATTLE -- Amazon.com launched its new camera and
photo store and announced an alliance with Ofoto,
an online photography service. As part of the deal,
Amazon.com received warrants enabling the company
to acquire around 5% of Ofoto. A spokesperson for
Ofoto said Amazon.com has not yet taken  a stake
in the company. Amazon's site will offer a new section
that includes photo-related products and will also
allow customers to upload and view photographs from
digital cameras and send prints to friends. Ofoto
is funded by Barksdale Group, Benchmark Capital
Partners, and  individual investors.
http://www.ofoto.com/

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

o WatchGuard Buys Security Software Firm Qiave for $66 Million

SEATTLE -- WatchGuard Technologies, a provider of
Internet security and virtual private network technology,
said it acquired Qiave Technologies, which provides
digital information security for corporate internetworking,
for approximately 1.29 million shares of common
stock, valued at $66 million. Qiave's chief executive
officer Jack Danahy will serve as vice president
and general manager of WatchGuard's server security
product line. Qiave is funded by JMI Equity Fund,
Commonwealth Capital, and Massachusetts Technical
Development.
http://www.watchguard.com/
http://www.qiave.com/
_____________________________________________

o Peopleclick Acquires Net Sourcing Technology Firm Claybrooke

RESEARCH TRIANGLE PARK, N.C. -- Peopleclick, which
provides online human resources management tools,
said it has acquired Claybrooke & Associates, an
Internet sourcing technology company, for an undisclosed
amount. Tracey Claybrooke, the founder of Claybrooke
& Associates, will serve as vice president of Peopleclick.
Peopleclick is backed by Morgan Stanley Dean Witter
Venture Partners, Lovettt Miller Venture Fund II,
North Carolina Enterprise Fund, and Primus Capital
Fund IV.
http://www.peopleclick.com/

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

o Oblix Chief Joins Workforce Management Firm Icarian's Board

SUNNYVALE, Calif. -- Icarian, a provider of workforce
management software and services, said it has appointed
Gordon Eubanks, president and CEO of Oblix, to its
board of directors. Mr. Eubank, who is the sixth
member to join the board, is former president and
CEO of Symantec. He also founded C&E Software. Icarian
has raised a total of $74 million in venture capital
to date. The company is backed by Van Wagoner Capital
Management, Kleiner Perkins Caufield & Byers, Patricof,
Fidelity Ventures, and Hambrecht & Quist/Access
Technology Partners. It has also received funding
from Sun Microsystems, Oracle, and TMP Worldwide.
http://www.icarian.com/
_____________________________________________

o Employee Management Service IQNavigator Names Boardmembers

DENVER -- IQNavigator, which provides employee management
services for Internet companies, said it has appointed
Carl Vogel, senior vice president of Liberty Media
Corporation and president and chief executive officer
of Liberty Satellite and Technology, to its board
of directors. Also joining the board are: Kinney
Johnson, partner at Sequel Venture Partners; Joseph
C. Manzinger, vice president of Hillman Company;
and James Paterek, the CEO of Cape Success. IQNavigator,
which recently closed a $15 million Series C funding
round, is backed by Hillman Company and Sequel Venture
Partners. Individual investors include; Steve Gray
of McLeod Communications; Larry Tanning of Tanning
Technology; John Orr of Liberty Media; Donald Bechter
of Daniels Company; and individuals affiliated with
Solomon & Smith Barney.
http://www.iqnavigator.com/

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

o Former President and CEO of Lotus Named Head of Maptuit

BURLINGTON, Mass. -- Maptuit, which provides online
and wireless logistics services, said it named Jeff
Papows as its chief executive officer. Mr. Papows
comes to Maptuit from Lotus, where he served as
president and CEO. Maptuit recently raised $5 million
in funding from Canadian incubator and operating
firm itemus and Descartes Systems Group.
http://www.maptuit.com/
_____________________________________________

o Studionext Names Independent Film Producer First CEO

NEW YORK -- Studionext, which provides digital media
and production services, said it appointed Ira Deutchman
as its first chief executive officer. Mr. Deutchman
was previously founder and partner of Redeemable
Features and was also founder of Fine Line Features.
Studionext is funded by the Aslan Group and is starting
its Series B round of funding.
http://www.studionext.com/
_____________________________________________

o Worker Communication Firm Verticore Hires President & COO

SALT LAKE CITY -- Verticore Technologies, which
provides technology for connecting employees within
the manufacturing industry, said it has appointed
Allan Reaburn, a former senior executive of Honeywell,
as its president and chief operating officer. Mr.
Reaburn was most recently the vice president of
Honeywell's Hybrid Business Unit. Verticore is backed
by Viridian Capital Partners and Wasatech Venture
Fund.
http://www.verticore.com/
_____________________________________________

o E-Security Firm Solfsoft Names Its COO To Board, CEO Post

MOUNTAIN VIEW, Calif. -- Solsoft, a provider of
policy management for electronic business security,
said it has named Victor C. Langford as chairman
of the board and chief executive officer. Mr. Langford,
who joined Solsoft in March as president and chief
operating officer, was senior vice president at
Novell. He has also held several senior management
positions at Hewlett-Packard. He succeeds Jerome
Fougerat, Solsoft's founder, who will continue to
guide Solsoft with a focus on strategic alliances.
Solsoft is backed Carlyle Internet Partners Europe,
Intel Capital, Cita, Innovacom-Technocom, Societe
Generale Asset Management, Sofinnova Partners, Vantech,
and Viventures.
http://www.solsoft.com/
_____________________________________________

o Sales Training Firm The Richardson Company Names Co-CEO

PHILADELPHIA -- The Richardson Co., which provides
sales training and management products and services
to large corporations, said it appointed Matthew
R. McGovern, former Merrimac Interactive Media founder
and president, to the position of co-chief executive
officer. Mr. McGovern will be sharing the role of
CEO with the company founder Linda Richardson. Richardson
Co. is backed by Capital Resource Partners.
http://www.richardsonco.com/

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

o $20 Million Fund Created By Emerging Imaging Technologies

FOSTER CITY, Calif. -- Electronics For Imaging (EFI),
which provides technology that allows copiers, printers
and digital presses to be shared online and across
businesses and work groups, said it formed the Electronics
For Imaging venture fund, which will invest in early-stage
imaging technology companies. The initial allocation
for the fund stands at a total of $20 million. The
fund has not announced any investments at this time.
Investors for Electronics For Imaging include undisclosed
institutional and individual investors.
http://www.efi.com/
_____________________________________________

o European Investment Firm Far Blue to Close on $14.6 Million

LONDON -- Far blue ventures, a new European venture
capital investment and acceleration company, said
it will soon close a $14.6 million round of funding.
Peter Helfet, the company's chief technology officer,
said the round was raised from individual and institutional
American investors. Far blue invests in startup
companies developing data storage and data transmission
networks, optoelectronics, telecoms, wireless and
Internet infrastructure, and imaging and display
technologies. The company's portfolio includes Doctorsworld,
mCentric, Polaris Telemetry, Polight Technologies,
and Infinite Data Storage. The company has received
backing from investors including J&W Seligman and
Aberdeen Asset Management.
http://www.farblue.com/
_____________________________________________

o Sports Restaurant Chain Launches Champions Tech Ventures

ARLINGTON, Va. -- Publicly traded Champions Sports,
which operates sports-themed restaurants, announced
the launch of Champions Tech Ventures. Champions
Tech will provide management services to early-stage
technology companies. The company will provide advice
and consultation concerning fundraising, marketing,
and partnership efforts in exchange for cash compensation
and equity in client companies. Harry Lee, chief
operating officer for Champions Sports, will be
the subsidiary's president and chief executive officer.
http://www.championsinc.com/

======= VW Amplification =======

o Primus Venture Partners

NEW YORK -- On Sept. 28 VentureWire reported that
Primus Venture Partners' fifth fund will focus largely
on online learning companies. Primus will invest
more in online learning companies with Primus V
than in its previous funds, but the new fund will
also continue to invest in other sectors, including
business services, telecommunications, Internet
and e-commerce, and healthcare.

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

o 3Plex

NEW YORK -- An item in Tuesday's VentureWire incorrectly
identified Greg Pope as chief executive officer
of 3Plex in the headline. Mr. Pope is the company's
chief operating officer.
_____________________________________________

o Pivotal Asset Management

NEW YORK -- An item in yesterday's VentureWire contained
an incorrect contact number for Pivotal Asset Management.
The correct number is 415-834-3500.

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