======================================================
VENTUREWIRE --- Friday, November 10, 2000
======================================================
Private Company Business News
------ Published Daily by Technologic Partners -------
http://technologicpartners.com
======================================================

Top Stories:

o Lehman Brothers Closes $800 Million Communications Fund
o X.com Shuts Down Online Banking, Continues Payment Services
o ICG Cuts Staff by 35%, to Spin Off Japanese and Euro Units
o Yahoo! Acquires Taiwanese Portal Kimo for $146 Million

|||||||||||||||||||| Advertisement ||||||||||||||||||||

CUTTING-EDGE TECHNOLOGIES; RAZOR-SHARP COMPANIES

Come hear from the leaders of 100 of the hottest private
companies working to revolutionize the industries of mobile
computing, home networking, Internet appliances, and
distributed computing. Each company has been carefully
screened and hand-picked by our team of editors and
researchers for its potential to shape these exploding
fields. We'll also feature keynote speeches from an
all-star line-up of industry luminaries:

Claude Leglise, VP, New Business Group & GM, Home Products Group, Intel
Michel Mayer, GM, Pervasive Computing, IBM
Michael Ramsay, President & CEO, TiVo
Larry Smarr, Professor, Department of Computer Science and Engineering, UC
San Diego
Carl Yankowski, CEO, Palm Computing
Henry Yuen, Chairman & CEO, Gemstar-TV Guide International

Only at Technology Outlook 2000:
The Future of Pervasive Computing
December 4 and 5, San Francisco
A VentureWire investment conference.
http://www.tpsite.com/tp/conf/to2000/?vw=20001110

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Also in This Issue:

New Money:
o Wireless Firm Blue Wireless Raises $6 Million First Round
o ASP for Legal Service Industry Gets $1.3 Million Seed Funds
o Corrent, Semiconductor Developer, Launches With $9.5 Million
o Israeli Wireless Company WaveIP Gets $5 Million First Round
o Retrieval Technology Firm i411.com Gets Early Stage Funding
o Telephony Frim Concannon Gets $1.3 Million in Seed Funding
o Wireless Antenna Developer Sarantel Launched Through Buyout
o Wireless Firm Kargo Gets $1.5 Million in First Round Funding
o Analytical Modeling Software Developer Raises $4.2 Million
o Fiber Optics Firm Bandwidth9 Has $80 Million Series F
o Homebytes.com Secures $12 Million in Second Round Funding
o Wireless Infrastructure Company MobileRAIN Raises Seed Round
o HumanIT Gets Round Two Funding From T-Venture, Bonn-Innova
o Internet Banking Firm CR2 Raises $8 Million Round Two
o Datacare, Data Management Software Firm, Raises $5.4 Million
o E-mail Response Firm YY Software Gets $11 Million Series C
o Electronics Manufacturer Integrex Raises $3 Million Series C
o Metropolitan Venture Buys 20% Stake in Media Firm Interocity

Bad News:
o InfoGlide Gets Out of Insurance Business, Laying Off 23
o Online Teen Financial Site, Icanbuy.com, Shuts Down
o Pet Treat Site Treats4pets.com Shuts Down

New Products:
o E-Commerce Service Firm Millennia Vision Now Called Quovera

M&A:
o Financial Products Provider Actifunds Buys EasyWare Software

New Directors:
o Morgenthaler Partner Joins Board of Peregrine Semiconductor
o Online Ad Firm PennyWeb Appoints Media Investor to Board

New People:
o IPnetwork.com Names Former Marvel Comics President As CEO
o Former Blue Shield Exec Named CEO of Veritas Medicine
o Platform Developer Telleo Names Ex-Nextcard Exec as New CEO
o Wireless Firm GiantBear Taps Media Execs for CEO and COO
o Web Application Developer Phoenix Pop Names New President

VC Fund News:
o Labrador Raising $180 Million Fund to Close First Quarter
o Publisher Reed Elsevier Forms New $100 Million Fund
o Argo, Northstream Form $50 Million Wireless Investment Firm
o TMCT Ventures Changes Name to Rustic Canyon Ventures

VW Amplification:
o Eve.com

VW Corrections:
o Veredex Logistics

|||||||||||||||||||| Advertisement ||||||||||||||||||||

COMMERCE UNPLUGGED

A new breed of smart phones and connected PDAs are enabling
us to shop, even long after we've dropped. But the mobile
shopper is a new breed of consumer, and the mobile value
chain presents a host of new issues. Mobile Services, one of
five expert panels at Technology Outlook 2000, will examine
the promises and pitfalls of m-commerce, wireless advertising,
and the role of location-based services. Come hear from:

Mark F. Bregman, CEO, AirMedia
Bernard Desarnauts, CEO, ViaFone
Paul Palmieri, VP & GM, Wireless Services, Advertising.com

Only at Technology Outlook 2000:
The Future of Pervasive Computing
December 4 and 5, San Francisco
A VentureWire investment conference.
http://technologicpartners.com/tp/conf/to2000/?vw=20001109

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

o Lehman Brothers Closes $800 Million Communications Fund

NEW YORK -- Investment banking firm Lehman Brothers
said it closed its venture capital Communications
Fund with $800 million. The new fund will invest
in venture-stage communications companies in the
telecom and datacom and Internet sectors. The new
fund will invest a total of between $20 million
and $50 million per portfolio company. Lehman Brothers
expects to add anther principal for this fund, to
be based in London, by the end of this year. The
firm has invested in iForce, Network Telephone,
Intira, and Epic Realm. Lehman Brothers recently
formed a joint venture with consulting firm Booz-Allen
& Hamilton, Innovate@ Lehman Brothers/Booz-Allen,
which will fund and provide services to start-ups.
http://www.lehman.com/
_____________________________________________

o X.com Shuts Down Online Banking, Continues Payment Services

PALO ALTO, Calif. -- X.com said it is shutting down
its online financial services, including the Internet
banking unit of First Western National Bank, to
focus on online payment systems. X.com said there
will not be any lay-offs resulting from the change.
The company's financial services will close on December
1st and will stop taking deposits on November 20th.
The company said its online payment business has
consistently outshined its financial services, a
situation exacerbated by the company's merger with
online payment company PayPal in March. X.com is
backed by Credit Agricole, Deutsche Bank, Digital
Century Capital, Goldman Sachs, Hikari Tsushin,
idealab! Capital Partners, J.P. Morgan, Madison
Dearborn Partners, Qualcomm, and TAMC.
http://www.x.com/
_____________________________________________

o ICG Cuts Staff by 35%, to Spin Off Japanese and Euro Units

WAYNE, Pa. -- Publicly traded Internet Capital Group
(ICG), which funds and supports business-to-business
Internet commerce companies through a network of
partner companies, said it laid off 35% of its workforce.
The layoffs came with the company's third quarter
report, in which the company reported losing $263.9
million. The company said it would intensify its
focus on its top 15 companies. The firm will also
spin off its European and Japanese units into independent
companies in which ICG will retain a substantial
equity stake. ICG also said it sold its equity stake
in  technology platform company Centirmed to Global
Health Care Exchange for an undisclosed amount.
ICG portfolio companies include AssetTrade.com,
Delphion, eCatalogs, e-Chemicals, Onvia.com, PaperExchange,
USgift.com, and Vivant!
http://www.internetcapital.com/
_____________________________________________

o Yahoo! Acquires Taiwanese Portal Kimo for $146 Million

TAIPEI, Taiwan -- Yahoo! said it signed an agreement
to acquire Kimo, a Web site that provides a search
engine, localized content, community, and personalized
services, in a transaction valued at $146.3 million.
Under terms of the agreement, Yahoo! will issue
2.25 million shares for all outstanding Kimo shares,
options, and warrants. Kimo shareholders will also
receive $50 million of cash bonuses or equivalent
value of Yahoo shares if Kimo meets specific performance
criteria by the end 2001. Kimo's staff positions
are currently being evaluated. Kimo is backed by
Sysware, Uni-president, HarbourBest Partners, Fubon
Group, Formosa Plastics Group, China Motor, Goldman
Sachs, Compaq, and Capital Securities Group.
http://www.yahoo.com/
http://www.kimo.com/

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

o Wireless Firm Blue Wireless Raises $6 Million First Round

BURLINGAME, Calif. -- Blue Wireless, a developer
of voice-enabled applications for wireless services,
said it has raised $6 million in its first round
of financing from co-leads Storm Ventures, DaimlerChrysler
Venture, and CMEA Ventures and the rest from Season
International and undisclosed individuals. Tae Hea
Nahm, a general partner at Storm Ventures, and Tom
Baruch, a general partner at CMEA Ventures, will
join the Blue Wireless board as its fourth and fifth
members. Blue Wireless said it will use the funds
to develop partnerships and to integrate its product
with mobile technology.
http://www.bluewireless.com/
_____________________________________________

o ASP for Legal Service Industry Gets $1.3 Million Seed Funds

SAN FRANCISCO -- eJur, which provides Web-based
infrastructure to law firms, corporate legal departments
and government counsel through a subscription-based
application service, announced that it has raised
$1.3 million in seed financing from individual investors.
The company used the funds for product development,
hiring, and to form strategic relationships. eJur
will begin beta testing by the end of the year.
http://www.ejur.com/
_____________________________________________

o Corrent, Semiconductor Developer, Launches With $9.5 Million

TEMPE, Ariz. -- Corrent, which develops semiconductor
technology, said it launched with a $9.5 million
first funding. Battery Ventures is the sole investor
in the company. Corrent is developing network security
chips for securing virtual private networks and
e-commerce transactions at fiber optic speeds over
the Internet. The company currently employs 18 and
is developing a 12,000 square foot headquarters
in Tempe, with plans to expand to 70 employees over
the course of the next year.
http://www.corrent.com/
_____________________________________________

o Israeli Wireless Company WaveIP Gets $5 Million First Round

TEL AVIV, Israel. -- WaveIP, an Israeli-based fixed
wireless company that designs, manufactures and
markets digital networking transmission products
and services, said it has raised $5 million in its
first round of funding led by VAL Investments Group,
an affiliate of Verticality Investments Group. The
company said it will use the funds to grow the company.
http://www.verticality.com/
_____________________________________________

o Retrieval Technology Firm i411.com Gets Early Stage Funding

CHANTILLY, Va. -- i411.com, a developer of wireless
and Web-based technology for category-driven information
retrieval from content databases, said it secured
$2.5 million from individual investors. The company
is in the process of raising a Series A funding.
http://www.i411.com/
_____________________________________________

o Telephony Frim Concannon Gets $1.3 Million in Seed Funding

ALEXANDRIA, Va. -- Concannon Technologies, a provider
of software-based computer telephony products, said
it secured $1.3 million in seed funding from individual
investors. The company is beta testing its product,
a business communications system designed to bring
carrier-class computer telephony to small to mid-size
markets. Concannon is in the process of raising
a Series A round of financing.
http://www.concannontech.com/
_____________________________________________

o Wireless Antenna Developer Sarantel Launched Through Buyout

LONDON -- Sarantel, which develops antennae for
wireless handheld devices, launched with a $8.5
million management buyout from parent company Symmetricom
UK, according to lead investor 3i. 3i invested $7.1
million to lead the round, which also included a
$1.4 million investment from Foresight Technology
Venture Capital Trust. The company will be chaired
by Nigel Horne, previously chairman of Alcatel-UK.
Symmetricom UK will retain an equity stake in the
new wireless company.
http://www.sarantel.co.uk/
_____________________________________________

o Wireless Firm Kargo Gets $1.5 Million in First Round Funding

NEW YORK -- Labrador Ventures said it invested $1.5
million in Kargo, a wireless enterprise application
company, as part of its first round of institutional
funding that is still open. The company will use
the funding for product development and sales. Kargo
has also received funding from individuals.
http://www.kargo.com/
_____________________________________________

o Analytical Modeling Software Developer Raises $4.2 Million

LONDON -- Autonomics, which develops analytical
modeling software, raised GBP 3 million ($4.2 million)
in its initial funding. The round was secured from
Billam, a publicly traded U.K. venture capital investor
recently formed from the shell of an industrial
company. Billam said the company will use the funding
to take its product to market, ramping up development
and marketing activities. As a result of the investment
Billam will place a representative on the Autonomics
board of directors. Telephone +44-207-702-5544.
_____________________________________________

o Fiber Optics Firm Bandwidth9 Has $80 Million Series F

FREMONT, Calif. -- Bandwidth9, a designer and manufacturer
of tunable fiber-optic components and modules for
telecommunications, said it closed an $80 million
Series F round of financing led by new investors
Van Wagoner Capital Management and BlueStream Ventures.
Other new  investors participating include American
Express, Merrill Lynch Ventures, Munder Technology
Fund, and Sands Brother Venture Capital. Previous
investors including Accel Partners, Institutional
Venture Partners, Oak Investment Partners, Lucent
Ventures, Hook Partners also participated this round.
Bandwidth9 has created a a vertical cavity surface
emitting laser (VCSEL) technology, which incorporates
broad tuning and direct modulation. The company
is developing optical transmission products that
will allow remote, dynamic provisioning of bandwidth
to businesses and consumers. The company said it
will use the funding to prepare for its launch of
new products, as well as continue its expansion
of production capacity. Bandwidth9 has raised $111
million to date.
http://www.bandwidth9.com/
_____________________________________________

o Homebytes.com Secures $12 Million in Second Round Funding

RICHMOND, Va. -- Homebytes.com, which conducts residential
real estate brokerage services online, said it has
secured $12 million in its second round of funding
from America Online and LandAmerica Financial Group.
The two were joined by previous investors, FBR Technology
Venture Partners, Grotech Capital Group, and Monument
Capital Partners. Homebytes.com, and its subsidiary
Owners.com, said it will use the funding to continue
ongoing infrastructure development and to develop
its technology and multiple listing service integration
to support the national rollout of the company's
residential real estate services. The company said
it has now raised over $30 million in venture capital
to date.
http://www.homebytes.com/
_____________________________________________

o Wireless Infrastructure Company MobileRAIN Raises Seed Round

FREMONT, Calif. -- MobileRAIN Technologies, which
develops carrier-grade products to enable voice
and data service for wireless technologies, said
it raised an undisclosed amount in its seed round.
The round was came from individual investors from
the United States and Europe. MobileRAIN said it
will use the capital to continue to develop its
products and cover operational expenses.
http://www.mobilerain.com/
_____________________________________________

o HumanIT Gets Round Two Funding From T-Venture, Bonn-Innova

BONN, Germany -- German investment firms T-Venture,
a Deutsche Telekom subsidiary, and Bonn-Innova said
they have taken an undisclosed equity stake in humanIT,
a business intelligence technology provider, in
its second round of funding. The company was funded
in its first round by bmp in the fall of 1999.
http://www.humanit.de/
_____________________________________________

o Internet Banking Firm CR2 Raises $8 Million Round Two

LONDON -- CR2 Group, a global provider of Internet
banking, channel management and card payment solutions,
said it secured $8 million in its second round of
funding. Existing investors GIMV, NIB Capital, and
ACT Venture Capital participated along with Goodbody
Stockbrokers and AIB Corporate Banking. The company
said it will use the capital to significantly expand
the business and further development of CR2's channel
banking strategy. CR2 has raised $28.6 million to
date.
http://www.cr2.com/
_____________________________________________

o Datacare, Data Management Software Firm, Raises $5.4 Million

MONAGHAN, Ireland -- Datacare Software, which develops
corporate records management software, said it raised
$5.4 million in its second round of funding. The
round was led by Penta Capital and included an investment
from previous investor Enterprise Equity Ireland.
The company said it will use the funding for its
further penetration of the U.S. marketplace. As
a result of the round David Calder, a partner with
Penta Capital, will join a representative of Enterprise
Equity Ireland on the company's board of directors.
http://www.data-care.com/
_____________________________________________

o E-mail Response Firm YY Software Gets $11 Million Series C

MOUNTAIN VIEW, Calif. -- YY Software, developer
of technology that the company says "reads" colloquial
English and sentence fragments to which it can then
respond automatically, said it received $11 million
in Series C funding from new investors RWI Group,
P3, and Telos. Existing investors Angels' Forum,
Sierra Ventures, and Al Shugart International also
participated in the financing. The company's product
is called e-mail Specialist.
http://www.yy.com/
_____________________________________________

o Electronics Manufacturer Integrex Raises $3 Million Series C

BOTHELL, Wash. -- Integrex, an electronic products
contract manufacturer for the networking, telecommunications,
instrumentation, and medical industries, said it
has raised $3 million in its Series C round of financing
from previous investors, including the lead in this
round, Fluke Venture Partners. Benaroya Capital,
Harvey N. Gillis, Cedar Grove, Sugar Mountain, and
a group from Bear Stearns also participated in the
round. Integrex said there will be no changes to
its board and that it will use the funds to purchase
inventory and to improve company facilities.
http://www.integrexusa.com/
_____________________________________________

o Metropolitan Venture Buys 20% Stake in Media Firm Interocity

NEW YORK -- Metropolitan Venture Partners, a New
York and London-based venture firm, said it purchased
a 20% stake in rich media developer Interocity.
Terms of the deal were not disclosed. Until now,
Interocity has been funded by members of the company,
and Metropolitan Venture Partners bought the stake
from an existing shareholder. Paul Lisiak, a managing
director of Metropolitan Venture Partners, will
join Interocity's board as its fourth member. Metropolitan
Venture Partners said Interocity will tap the venture
firm's transatlantic resources to expand into the
European market.
http://www.interocity.com/

======= Bad News =======

o InfoGlide Gets Out of Insurance Business, Laying Off 23

AUSTIN, Texas -- InfoGlide, which develops software
for cross-database searches, said it cut its workforce
by 30%, or 23 employees, as part of a move to shut
down company operations that focus on the insurance
business. The company said it would focus on its
business-to-business and online shopping focus,
and hire 26 people for other fields. The company
said it had $11.5 million remaining to fund its
operations. The company, which raised a $13 million
second round this past spring, is backed by AM Fund,
Conning Capital Partners, Intersouth Partners, and
Marsh McLennan Capital.
http://www.infoglide.com/
_____________________________________________

o Online Teen Financial Site, Icanbuy.com, Shuts Down

NEW YORK -- Icanbuy.com, an e-commerce and money
management site for teens, said it will cease operations.
The company, which had merged with MainXchange.com
in March, said it will not accept new orders or
deposits and would fulfill its existing orders while
operations begin to close down. The company said
any money or gift certificate deposited in one of
its online accounts would be refunded. MainXchange.com
is backed by the Israel Infinity Fund, Banexi, and
private investors, while icanbuy.com was backed
by individual investors prior to the merger.
http://www.icanbuy.com/
_____________________________________________

o Pet Treat Site Treats4pets.com Shuts Down

KANSAS CITY, Mo. -- On the heels of the Pets.com
shutdown and layoffs at Petopia, Treats4pets.com,
an online site that sold pet treats, shut down on
Oct. 30. The Web site says the company has stopped
taking orders and directs customers to an e-mail
address. The company's phone has been disconnected.
News of the Treats4pets.com's closure was first
reported by LocalBusiness.com. The company formed
a strategic alliance with GiftBaskets.com in July
to provide gourmet cat and dog treats in gift baskets.
Treats4pets was backed by Iron Street Labs.
http://www.treats4pets.com/

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

o E-Commerce Service Firm Millennia Vision Now Called Quovera

REDWOOD SHORES, Calif. -- Millennia Vision, a provider
of Internet commerce services, said it changed its
name to Quovera. The company said its new name reflects
a 15th century legend about a city which built its
structures using a unique, metal-like substance
called Quovera, which loosely translates to "the
one who sees" or "seeing truth." The company's investors
include GE Equity and Venture Strategy, Encore Venture
Partners, Phillips Capital Management, Pagemill
Capital, and Starwood Capital Group.
http://www.quovera.com./

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

o Financial Products Provider Actifunds Buys EasyWare Software

CAMBRIDGE, Ma. -- Actifunds, which provides Web-based
group financial products for online brokers and
financial communities, said it is acquiring EasyWare
Software, a developer of investment club products
and accounting software, for an undisclosed amount.
Under the terms of the agreement, Actifunds, which
is backed by individual investors, will acquire
all of the issued and outstanding stock of EasyWare.
http://www.actifunds.com/
http://www.easywaresoftware.com/

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

o Morgenthaler Partner Joins Board of Peregrine Semiconductor

SAN DIEGO -- Peregrine Semiconductor, a provider
of photonic and wireless integrated circuits, said
it appointed Gary Shaffer to its board of directors.
Mr. Shaffer replaces Kent K. Rinker, who retired
after being with the company since June 1996. Mr.
Shaffer is a general partner at Morgenthaler Ventures,
an investor in the company. Peregrine is also funded
by Patricof & Co. Ventures, Wasserstein Perella
Ventures, and CSK Roser Ventures.
http://www.peregrine-semi.com/
_____________________________________________

o Online Ad Firm PennyWeb Appoints Media Investor to Board

LOS ANGELES -- PennyWeb, an interactive advertising
firm, said it has appointed investor Ted Field,
owner of Radar Films, a film producer, and co-founder
of Interscope Records, to its board of directors
as the board's sixth member. PennyWeb said Ted Field
and two other undisclosed investors have participated
in PennyWeb's first round of financing, the details
of which have not been released. PennyWeb said it
will use the funds for development and for sales
and marketing.
http://www.pennyweb.com/

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

o IPnetwork.com Names Former Marvel Comics President As CEO

NEW YORK -- IPnetwork.com, an intellectual property
licensing and event sponsorship site, said it appointed
Jerry Calabrese, former president of Marvel Comics
Group, as chief executive officer. Mr. Calabrese
most recently formed GSC Marketing, a boutique marketing
company. IPnetwork's investors include Communicade,
the Internet investment arm of Onmicom Group; Chase
Capital Partners; Merrill Lynch; Fenway Partners;
LGT Capital Management; Wharton Capital Holding;
TL Ventures; and individual investors Craig McCaw;
Reed Hundt, former chairman of the FCC; Jon Moulton
of UK- based Alchemy Partners; Jay Alix, CEO of
Questor; and Chris Brody of Vantage Venture Partners.
http://www.ipnetwork.com/
_____________________________________________

o Former Blue Shield Exec Named CEO of Veritas Medicine

CAMBRIDGE, Mass. -- Veritas Medicine, an online
medical resource developed to provide patients,
physicians, and other health care professionals
with information about clinical trials and innovative
treatments, said it named Joseph Avellone as chief
executive officer. Mr. Avellone was most recently
vice president of Healthvision, a healthcare Internet
company, and was formerly chief operating officer
of Blue Cross & Blue Shield of Massachusetts. Veritas
Medicine is backed by Burrill & Co., BioAsia's Biotechnology
Development Fund II, E-Health Holdings Fund, Cambridge
Incubator, and Seaflower Ventures.
http://www.veritasmedicine.com/
_____________________________________________

o Platform Developer Telleo Names Ex-Nextcard Exec as New CEO

SAN JOSE, Calif. -- Telleo, a company developing
an online communication platform which links local
businesses and consumers, said it named Daniel Springer
as its new chief executive officer, replacing founder
Jim McCrossin. Mr. Springer previously served as
chief marketing officer and general manager of e-commerce
for Nextcard. Telleo is planning a full launch in
January. The company's investors include Redpoint
Ventures, Venture Strategy Partners, and RRDonnelley
and Sons, and Brentwood Venture Capital.
http://www.telleo.com/
_____________________________________________

o Wireless Firm GiantBear Taps Media Execs for CEO and COO

WHITE PLAINS, N.Y. -- GiantBear, a wireless applications
provider, said it has appointed James Green, former
executive at Pixar Animation Studios and 24/7, as
the company's new CEO, replacing co-founder and
CEO Steven Price, who will now serve as chairman
of the board. Steven Price also serves as president
and CEO of LiveWire, which develops software for
media companies and which along with the Thomas
H. Lee Company and The Blackstone Group invested
in GiantBear's $9.2 million Series A round in March.
GiantBear said it has also appointed Scott C. Nevins,
former president and CEO of ClientSoft, an Internet
business tools firm, as president and COO.
http://www.giantbear.com/
_____________________________________________

o Web Application Developer Phoenix Pop Names New President

SAN FRANCISCO -- Phoenix Pop, a professional services
firm for Internet companies, said it promoted Jerry
Young to president. Mr. Young joined Phoenix Pop
in 1999 as vice president of business development
and corporate strategy and then became chief strategy
officer. He replaces Bruce Falck who will remain
CEO. Phoenix Pop develops Web applications for enterprises
and brands that want to build businesses on the
Internet. The company is backed by individual investors.
http://www.phoenix-pop.com/

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

o Labrador Raising $180 Million Fund to Close First Quarter

REDWOOD CITY, Calif. -- Labrador Ventures said it
is in the process of raising a new fund, its fifth,
that is expected to total $180 million and close
sometime in the first quarter. The firm is looking
to invest around $2 million in seed funding to technology
startups, especially those developing equipment
and services for data networks. The fund will also
invest in optical and wireless companies.
http://www.labrador.com/
_____________________________________________

o Publisher Reed Elsevier Forms New $100 Million Fund

LONDON -- Reed Elsevier, a publisher and information
provider, announced it has formed a Reed Elsevier
Ventures, a $100 million fund. Diana Noble, a former
partner at Schroder Ventures, and chief executive
officer of UK's eVentures, will lead the fund as
managing director. The new fund will make investments
in technology and Internet related businesses, and
focus on later stage and pre-IPO companies, primarily
in the US and Europe.
http://www.reedelsevier.com/
_____________________________________________

o Argo, Northstream Form $50 Million Wireless Investment Firm

STOCKHOLM -- Argo Global Capital and Northstream
announced it has formed Argnor Wireless Ventures,
a wireless investment company. With $50 million
at its disposal, Argnor will provide development
capital and strategic support to new Scandinavian
companies that provide services and products for
the wireless data communication and mobile network
industries.
http://www.argnor.com/
_____________________________________________

o TMCT Ventures Changes Name to Rustic Canyon Ventures

SANTA MONICA, Calif. -- TMCT Ventures, which manages
$550 million, said it has changed its name to Rustic
Canyon Ventures. The firm typically invests $5 million
to $10 million in communications technology and
Internet infrastructure companies, as well as Internet
business service providers. TMCT's recent investments
include NexWave, a fiber optic components firm;
FieldCentrix, which produces software for the field
services industry; and Ledgent, outsourcers of accounting
and human resources services.
http://www.rusticcanyon.com/

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

o Eve.com

NEW YORK -- An item in yesterday's VentureWire about
Sephora.com's purchase of the name and URL of defunct
beauty site Eve.com included as Eve backers the
VC firms Weiss, Peck & Greer Venture Partners, Charter
Venture Capital, Crosslink Capital, and Menlo Ventures.
In April of this year, idealab! purchased controlling
equity in the company from the other investors and
was Eve.com's major shareholder when the site closed
down last month.

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

o Veredex Logistics

NEW YORK -- An article in Wednesday's Venture, incorrectly
described Veredex Logistic's $4 million venture
round, as the company's fourth. The funding round
is the company's second.

|||||||||||||||||||| Advertisement ||||||||||||||||||||

eBOOK HIM, DANNO!

Top executives at some of the world's largest and most
powerful technology companies are predicting the demise
of the paper publishing industry. But how are they planning
to capture this lucrative market? Come hear from keynote
speaker Henry Yuen, CEO of Gemstar, who will soon release a
pair of electronic readers under Thomson Multimedia's RCA
brand. We've also assembled an expert panel on this emerging
industry, featuring Yogen Dalal of Mayfield Fund, an early
investor in ebook technologies, Louis E. Lenzi, VP of Global
Business Development & New Ventures in the New Media Services
Group at Thomson Multimedia, and Richard Tam, CEO of iUniverse.
It promises to be an arresting session.

Only at Technology Outlook 2000:
The Future of Pervasive Computing
December 4 and 5, San Francisco
A VentureWire investment conference.
http://technologicpartners.com/tp/conf/to2000/?vw=20001107

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