?	
?	VentureWire
	Thursday, May 24, 2001		?
?	CONTENTS | COMPANIES | INVESTORS | ADVERTISE | TELL A FRIEND	VentureWire Index
		'VentureWire
		today: 736.0 ? -0.03%	?
? 		
		
		top stories
		
		  Online Financial Technology Firm Xigo Closes Down
		  Auxyn Bioscience Ventures Raising $200 Million Fund
		  SpaceVest III Makes First Closing at $82M, Targets $150M
		  BlueLight.com to Make Layoffs;  Will Use More Kmart Staff
		
		
		TODAY'S FEATURES 
		Concord Ventures Begins Raising Fourth Fund
		By Jonathan Shieber
		Concord Ventures, an Israeli venture capital investor, has begun raising its 
fourth fund, Concord Ventures III, according to partner Batsheva Elran. 
more>>
		UPCOMING EVENTS 
		June 5-6: San Francisco
		 Mobile Outlook 2001
		
		Anthony Alles, formerly of Shasta Networks (acquired by Nortel for $340 
million) is back with a new venture called Tahoe Networks. Mobile Outlook 
will showcase for the first time their plans to merge the worlds of data and 
mobility. 
		With industry leaders such as Anthony Alles planning to be at Mobile Outlook, 
you should be too.
		Less than 2 weeks, register today!
		
		
		Entrepreneurs and VC-backed company CEOs:
		* Where can you obtain FREE detailed information on the
		latest quarter'sventure funding by region, industry,
		round and stage of development?
		* Where are there FREE tools and templates for writing a
		business plan and securing venture funding?
		* And if you're a young tech company CEO, where can you
		hear other CEOs discuss the issues of the day?
		VISIT PricewaterhouseCooper's Entrepreneur Resource Center
		for this and more -->http://www.pwcerc.com
		
		
		
		New Endymion CEO Thinks Acquisitions, IPO
		By Michelle Tsai
		Steve King, the new CEO of Endymion Systems, an information technology 
consultancy, won't have much time to bask in his recent promotion. more>>
		
		
		
		
		new money
		
		  ATM Software Firm KAL Raises $3.5M First Round
		  Malaysian Software Maker BizAid Scores $2.4M in Series A
		  Property Protection Firm Infraworks Gets $9 M Series A
		  Alphion Works On $35 Million Series B Close 
		 Bharti Televentures Lands $460 Million Capital Injection
		  IpSEAL Wants $8 Million in Second Round
		  Molecular Mining Gets $8 Million Round Two
		  Point Therapeutics Closes $5.4M Series B
		  Workspeed Raises $15 Million in Series B 
		 Supply Chain Software Developer Viewlocity Gets $30 Million
		  Wireless Services Firm InfoMove Has $6.2 million Third Round
		  Be Here Raises $6 Million in Series D
		  Japanese Consumer Finance Firm Priva Secures Funding
		  CapMan Invests in Danish Distribution Company SMEF Group
		  Blue Tie Looking for Up To $30 Million
		
		
		bad news
		
		  Black Hog Lays Off 35% of Staff
		
		
		new deals
		
		  Jenoptik and Lambda Form UV Lasers JV Xtreme
		
		
		new products
		
		  Law Firm Gray Cary Launches VC Business Services Subsidiary
		
		
		m&a
		
		  PocketMail Acquires Pocket.com's Assets for Cash & Stock
		  Evolve Buys Vivant for $2.7 Million in Stock and Cash
		  Training Software Firm Baydon Buys Human Dynamics for $1M 
		 World Internetworks Merges With Trace Affex 
		 JB Oxford Buys Certain Assets of eCapitalist Financial
		  EverythingTele.com Acquires TekSell.com in Stock Deal
		
		
		new directors
		
		  E-Marketplace OneMade Names John J. McLaine Chair. of Board
		
		
		new people
		
		  Mobile Software Provider Bwirelezz Names New CEO
		  Ronald Brumback Named Pres. & COO of Top Layer Networks
		  Sur La Table Names Tim Hopkins as New CEO
		
		
		vc fund news
		
		  Irish Investment Firm Crucible to Open New Office in Belfast
		
		
		vc personnel
		
		  VC Management Firm Beacon Telco Appoints Avi Legmann as VP
		
		
		vw corrections
		
		  Bridium
		  Saipx
		
		 TOP STORIES... NEW MONEY... BAD NEWS... NEW DEALS... NEW PRODUCTS... M&A... 
NEW DIRECTORS... NEW PEOPLE... VC FUND NEWS... VC PERSONNEL... VW CORRECTIONS
		
		
		top
		
		
		This year to date, over $750 million has been
		invested in private equity deals in the financial
		services sector (source: VentureWire). In this age
		of liquidation preference provisions and
		retroactive repricings, that's a strong
		performance. Financial Services Outlook allows
		you a unique insight into where the investment strength
		in this market lies, and which private companies are leading
		the strongest sectors of the financial technology
		and solutions market.
		
		Register before June 19 and SAVE 
$100:http://www.financialservicesoutlook.com/register.asp
		
		
		
		 top stories 
		?
		Online Financial Technology Firm Xigo Closes Down
		 mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- Xigo, a developer of online financial 
technology, said it is closing down. According to CFO Skip Smith, the company 
could not secure the additional funding it needed. Mr. Smith said the company 
still has a handful of employees on staff while it tries to sell its assets. 
He would not say how many employees the company originally had on staff. 
Xigo's real-time technology searches through streaming data to provide users 
with financial and investment information via e-mail, cell phone, or pager. 
Last May the company raised $22 million in a second round of financing from 
Capital Z Financial Services Fund II, Angel Investors LP, New Enterprise 
Associates, and John McKinley, Jr., executive vice president and CTO of 
Merrill Lynch. 
		http://www.xigo.com
		
		
		Auxyn Bioscience Ventures Raising $200 Million Fund
		 mail? top
		
		 ST. LOUIS  (VENTUREWIRE) -- Auxyn Bioscience Ventures, a fund dedicated to 
life science investments, said it is raising $200 million. The firm's chief 
scientist Ganesh Kinore said that the fund has already received a good 
portion of the $50 million it is seeking from investors in the St. Louis 
area. He said the fund, slated to close this fall, will invest in life 
sciences companies focused on gene discovery to modify nutritional quality of 
crops to treat human diseases, as well as genomics and infomatics sectors. 
Mr. Kinore formed the firm with former Monsanto colleagues, including Arnold 
Donald and Andy Bursky. Telephone 314-657-1050 
		
		
		SpaceVest III Makes First Closing at $82M, Targets $150M
		 mail? top
		
		 RESTON, Va.  (VENTUREWIRE) -- SpaceVest, a private equity firm that invests 
in companies in the space industry, announced that it had made the first 
closing for its newest fund, SpaceVest III, at $82 million in the middle of 
April. SpaceVest began raising the fund in October 2000 and plans on closing 
the fund at $150 million by the end of the year. Ransom J. Parker, the 
managing partner responsible for administering the fund, said SpaceVest III 
will make expansion-stage investments ranging from $5 million to $7 million 
in space industry companies and in networking firms. The $150 million is 
targeted to be fully invested in 15 to 20 companies and will have no 
exclusive geographical focus. Mr. Ransom also said SpaceVest was seriously 
evaluating five North American space industry and networking companies at 
present. He said SpaceVest planned to make at least one investment in this 
quarter. John B. Higginbotham, Roger P. Widing, Ransom J. Parker, and Richard 
L. Harris are the managing partners for SpaceVest III. Knickerbocker Capital 
joined the fund as a new limited partner along with previous investors 
Sofical, a subsidiary of Caisse de Depot et Placement du Quebec; the Swiss 
Reinsurance Company; Boeing; and the Fuller Foundation. SpaceVest previously 
closed SpaceVest II at $138 million in December 1999. 
		http://www.spacevest.com
		
		
		BlueLight.com to Make Layoffs;  Will Use More Kmart Staff
		 mail? top
		
		 SAN FRANCISCO  (VENTUREWIRE) -- BlueLight.com, an independent e-commerce 
site majority owned by Kmart, said it will begin using more of Kmart's 
marketing and merchandising staff in order to become more efficient and 
reduce operating costs. It will also make an undisclosed number of layoffs to 
cut down on duplicate jobs. "Using these resources will keep us on our path 
to profitablitlity in a rather soft e-commerce market," said David Karraker, 
a company spokesperson. BlueLight's backers include Softbank and Martha 
Stewart Living. 
		http://www.bluelight.com
		
		
		 new money 
		?
		ATM Software Firm KAL Raises $3.5M First Round
		 mail? top
		
		 EDINBURGH, U.K. (VENTUREWIRE) -- KAL, a software company developing 
asynchronous transfer mode (ATM) applications, said it closed its first round 
at $3.5 million co-led by Royal Bank Ventures and Scottish Equity Partners 
(SEP), with additional participation from CA Nominees. Royal Bank Ventures 
and SEP will be approving the addition of one independent board seat to KAL's 
board of directors, which will now have five directors. The company said the 
financing would be used for sales, marketing, and for establishing its U.S. 
office in Cincinnati. KAL said it plans to hire eight to 10 people for the 
Cincinnati office. Founded in 1998, the company said it had no plans for 
additional funding for the rest of the year.  In addition to its Edinburgh 
headquarters and new U.S. office, KAL also has offices in Japan and 
Australia. 
		http://www.kal.com
		
		
		Malaysian Software Maker BizAid Scores $2.4M in Series A
		 mail? top
		
		 KUALA LUMPUR, Malaysia (VENTUREWIRE) -- BizAid, which develops software for 
business consultants and small- and medium-sized businesses, has closed MYR 9 
million ($2.4 million) in Series A financing. Sole investor OptixLab, an 
incubator, gains two seats on the board of directors. Funds will be used for 
research and development, marketing, and general business purposes. BizAid is 
preparing to launch its first product in a few months. Formed by OptixLab and 
Info-House IT in March 2001, BizAid had received approximately $900,000 from 
Info-House IT prior to Series A. The company expects to have positive cash 
flow by 2003.  
		http://www.mybizaid.com
		
		
		Property Protection Firm Infraworks Gets $9 M Series A
		 mail? top
		
		 AUSTIN, Texas (VENTUREWIRE) -- Infraworks, a provider of digital property 
protection technology, announced that it closed $9 million in Series A equity 
financing led by Moore Capital Management with participation from unnamed 
individuals. The company plans to dedicate the new funds to marketing and 
sales. As a result of this investment two board seats have been granted to 
Moore Capital: James Caccavo, who is managing director, private equity 
investments and Quinn Morgan, who is principal, private equity investments, 
join the seven-member board. In addition to the equity funding, Moore Capital 
Management has also devoted $4.2 million in convertable debt financing to 
Infraworks. The company is currently seeking a Series B round between $15 and 
$25 million, to close in early autumn.
		http://www.infraworks.com
		
		
		Alphion Works On $35 Million Series B Close
		 mail? top
		
		 EATONTOWN, N.J. -- Alphion, an end-to-end optical network provider, expects 
to close $35 million in Series B funding by July, said CEO Bharat P. Dave. 
Founded in July 2000, the Eatontown, N.J.-based company expects to ship its 
first product in June of next year, with an eye toward reaching profitability 
in third quarter of 2003. Mr. Dave, who said the company has received offers 
from venture capitalists to lead the upcoming financing, expects the Series B 
to be an up round. He will hold discussions with top tier VCs in New York, 
Boston, and on the west coast. Battery Ventures, the sole investor in 
Alphion's $16.9 million Series A, will maintain its stake in round two, 
according to Jim Orlando of Battery Ventures. With Series B funding, Alphion 
will complete its beta trials and prepare the product for shipping. The 
company, which has a staff of 55, expects to double by the end of the year. 
With its all-optical network, Alphion will provide companies with "a huge 
cost advantage," said Mr. Orlando. Alphion's competitors include Nortel 
Networks and Lucent Technologies, which provides an all-optical switch for 
communications networks. Alphion will target its all-optical networks for 
large North American and European telecommunications carriers such as Global 
Crossing. For 2002, the company anticipates $15 million in revenues. Plans 
may call for an IPO in 2003, said Mr. Orlando. 
		http://www.alphion.com
		
		
		Bharti Televentures Lands $460 Million Capital Injection
		 mail? top
		
		 NEW DELHI, India (VENTUREWIRE) -- Bharti Televentures, an Indian telecom 
firm, said it received  a $460 million capital injection. The funding came 
from Warburg Pincus, which contributed $200 million; Singapore 
Telecommunications, which provided $200 million; AIF Funds Management, which 
invested $35 million; International Finance, which provided $20 million; and 
New York Life, with a $5 million investment. Bharti previously received $100 
million from Warburg Pincus and $400 million from Singapore 
Telecommunications.  
		http://www.bhartibt.com
		
		
		IpSEAL Wants $8 Million in Second Round
		 mail? top
		
		 WESTMINSTER, Col. (VENTUREWIRE) -- IpSEAL, a Westminster, Colo. startup 
developing a software platform for coordinating activity within a service 
provider's network, is raising a second institutional round of funding for 
between $6 million and $8 million, president and CEO Marvin L. Hutchens told 
VentureWire. Mr. Hutchens plans to bring in a new lead investor as well as 
the company's previous investors, iVention Group, Oak Hill Venture Partners, 
and Rock Mountain Ventures. Mr. Hutchens said he planned to close the round 
by the end of August.  He added that the company, which raised $300,000 from 
Rock Mountain Ventures in early 2000 and a $7.5 million round from iVention 
Group and Oak Hill Venture this past October, would most likely have an up 
round. Mr. Hutchens said that ipSEAL would conduct beta testing this summer 
and that it expects to roll out its first product in the fall, with its first 
product delivery and service by the first quarter or second quarter of 2002. 
The company will use the next round of funding for continued product 
development and future marketing initiatives. Mr. Hutchens said that ipSEAL's 
staff would likely grow from 30 to just over 60 by the end of the year. 
IpSEAL recently hired Robert M. Holburn Jr.,  former Rogue Wave Software 
chief financial officer, as its chief operating officer.  The company also 
plans to announce a new head of marketing. Mr. Hutchens said that while 
revenues "are still basically three quarters away" the company is moving 
along slowly and steadily, with a burn rate of well under $300,000 per month. 
He said that the company would be profitable by some time in 2003, but 
wouldn't wager a guess as to when when the company might hold an IPO. 
		http://www.ipseal.com
		
		
		Molecular Mining Gets $8 Million Round Two
		 mail? top
		
		 KINGSTON, Ontario (VENTUREWIRE) -- Molecular Mining, a provider of data 
mining technology for the life sciences market, said it closed $8 million in 
second round funding led by CDP Sofinov, a subsidiary of the Caisse de depot 
et placement du Quebec (CDP), with participation from the Business 
Development Bank of Canada, Cardinal Partners, CMDF Queen's Scientific 
Breakthrough Fund, and S.R. One Limited, a subsidiary of GlaxoSmithKline. 
S.R. One Limited and Cardinal Partners co-led the company's first round of 
financing of $2 million in March 1999. As a result of this financing, the 
company anticipates an additional appointment to its six-member board of 
directors, which now includes John Clarke of Cardinal Partners. The company, 
which officially launched operations this March, anticipates to be profitable 
within the next two years. 
		http://www.molecularmining.com
		
		
		Point Therapeutics Closes $5.4M Series B
		 mail? top
		
		 BOSTON (VENTUREWIRE) -- Point Therapeutics, a biotechnology company, said it 
raised $5.4 million in its Series B led by the Kaufmann Fund, which 
contributed $5 million, and from undisclosed institutional and private 
investors. The money will be used for clinical testing of its lead compound, 
PT-100, which is being developed to treat hematopoietic disorders. This round 
is expected to last until the middle of 2002. The board of directors remains 
at five members, since no new seats were granted. The company has raised $20 
million to date. Past investors include Boston-based Claflin Capital and 
Chicago-based Portage Ventures. Don Kiepert is the president and CEO of Point 
Therapeutics. Point Therapeutics develops therapeutics for the treatment of 
cancer and hematopoietic disorders. Telephone 617-636-0673. 
		
		
		Workspeed Raises $15 Million in Series B 
		mail? top
		
		 SAN FRANCISCO (VENTUREWIRE) -- Workspeed, a provider of Internet and 
wireless collaborative applications for commercial real estate, said that it 
has raised $15 million in Series B financing led by previous investor Partech 
International with participation from Apollo Real Estate Advisors; Archon 
Group, a wholly owned subsidiary of Goldman Sachs; Insignia Financial Group; 
Mack-Cali Realty; Newmark and Company Real Estate; Peregrine Systems; Jack 
Resnick & Sons, Inc.; Lawrence Ruben Company; Vornado Realty Trust; and 
unnamed individuals and funds. The company said it plans to use the new funds 
for product development. The company raised $18 million in Series A financing 
in May 2000. 
		http://www.workspeed.com
		
		
		Supply Chain Software Developer Viewlocity Gets $30 Million
		 mail? top
		
		 ATLANTA (VENTUREWIRE) -- Viewlocity, which provides supply chain event 
management software, said it has opened its latest funding round with $30 
million in capital commitments from undisclosed new investors and previous 
investors. The company said the total round could exceed $30 million and it 
expected to close the funding within the next two weeks. Viewlocity said it 
would use the funding to expand its sales, marketing, and product 
development. The company, which closed a Series E round in July of last year, 
withdrew a planned IPO in January 2001. The company's previous investors 
include BancBoston Ventures, Battery Ventures, BCI Partners, Beacon Group, 
CommVest, DHL, Deutsche Post, Marconi Ventures, SingTel, and SK Global. 
Viewlocity has offices in Atlanta, London, Singapore, and Tokyo. 
		http://www.viewlocity.com
		
		
		Wireless Services Firm InfoMove Has $6.2 million Third Round
		 mail? top
		
		 KIRKLAND, Wash. (VENTUREWIRE) -- InfoMove, a developer of personalized, 
location-based applications and wireless services, said it raised $6.2 
million in its third round of funding led by previous investor ComROAD, a 
German telematics networks company. A number of undisclosed individual 
investors participated in the round, along with previous InfoMove investors, 
whose names the company declined to disclose. InfoMove's COO Thomas Ross said 
the company will start to seek additional financing again soon. This latest 
round will be used for product development, and to fully launch the company's 
services in the third quarter. Mr. Ross said InfoMove plans to introduce its 
services in Europe through its partnership with ComROAD. InfoMove has raised 
about $15 million to date. Its investors include Broe Companies, BSquare, 
Encompass Europe, Garage.com, NTT-ME, and Mitsui Comtek.
		http://www.infomove.com
		
		
		Be Here Raises $6 Million in Series D
		 mail? top
		
		 LOS ANGELES (VENTUREWIRE) -- Be Here, a provider of software and services 
for panoramic navigable video and still pictures, announced that it has 
secured $6 million in a Series D round of equity financing led by Snider 
Capital with participation from prior investors Eastman Kodak, Enterprise 
Partners, Intel Capital, Philips Electronics, Totem Investment Partners, and 
Wasserstein Adelson Ventures. The company plans to dedicate the new funds to 
sales, marketing, product development, and infrastructure expansion. As a 
result of this financing, Walther Ramos of Snider Capital has joined as the 
ninth member of the company's board. Prior to this round the company raised 
$17 million in three rounds of financing. 
		http://www.behere.com
		
		
		Japanese Consumer Finance Firm Priva Secures Funding
		 mail? top
		
		 TOKYO (VENTUREWIRE) -- Residential Funding Corp. (RFC), a wholly owned 
subsidiary of GMAC Financial Services, announced it has made an undisclosed 
investment in Priva, a consumer finance company based in Japan that provides 
loans via the Internet and call centers. RFC invested jointly with Japanese 
consumer finance company Credia, Itochu Finance, and United Asia Finance. 
Priva said it will soon offer its product nationwide through targeted 
advertising in selected national publications. RFC, which has an office in 
Minneapolis, Minn., will own 13.5% of Priva when the transaction is 
completed. Katsuhiro Saito, president and CEO of Priva, is a member of the 
board of directors of Credia.  
		http://www.gmacrfc.com
		
		
		CapMan Invests in Danish Distribution Company SMEF Group
		 mail? top
		
		 HELSINKI, Finland (VENTUREWIRE) -- CapMan, a private equity investor in 
Finland, announced it will invest in SMEF Group, a Denmark-based company that 
distributes machinery, tools, fittings, and assembly parts to the Northern 
European furniture, door, and window industry. The investment, which is 
CapMan's first in Denmark, was made in cooperation with Nordic Private Equity 
Group, an investment group that CapMan acquired last month. SMEF Group is 
expected to acquire three Danish companies, Ludvig M. Larsen, Lind Maskiner, 
and nissenpack. At the close of the transaction, CapMan will own 50% of SMEF 
Group and the rest will be owned by the shareholders of the three companies 
and key managers of SMEF, which made approximately EURO 70 million ($60 
million) last year and reaped about $3.2 million in profit. Peter Buch Lund, 
a senior partner of CapMan, has joined SMEF Group's board. CapMan has 
invested about $995 million in 100 companies through 12 funds. 
		http://www.capman.fi
		
		
		Blue Tie Looking for Up To $30 Million
		 mail? top
		
		 ROCHESTER, N.Y. (VENTUREWIRE) -- BlueTie, a Rochester, N.Y. application 
service provider, is on the prowl for a second round of funding of between 
$20 and $30 million, the company's chief executive officer, David Koretz, 
told VentureWire. The company, which offers applications such as e-mail, 
calendar planning, and secure document transferring to small and mid-sized 
businesses, will use the funding for product development and to begin an 
aggressive sales and marketing campaign. BlueTie, founded in March 1999, 
officially launched in February 2001. It raised about $10 million in its seed 
round from individual angel investors, including Paychex founder B. Thomas 
Golisano. Hewlett-Packard, which chose BlueTie for its Garage Program last 
year, provided $2.5 million. BlueTie reportedly has a pre-money valuation of 
between $200 million and $300 million, but Mr. Koretz would not confirm those 
numbers. He said the company is operating in a market he estimates to be on 
the order of $22 billion per year. BlueTie, which has about 30 employees, is 
burning through "less than $250,000 per month," he said. BlueTie expects to 
break even by the fourth quarter of this year. Roughly 1,000 customers are 
using BlueTie services now, said Mr. Koretz. "We require less than 15,000 
users and we're profitable," he said. Mr. Koretz expects the company to have 
50,000 users by the end of the year and 200,000 by the end of next year. 
BlueTie's applications have all been developed in house, Mr. Koretz said. He 
said the company closed on six new patents last week, which he did not 
discuss. He believes small customers who don't need a complex package of 
applications will opt to use his company's services. "Microsoft and Lotus are 
selling 34 million units per year each, but if you want to buy them, you have 
to buy a server, software and IT people to manage it all," he said.  "By 
contrast, we charge $25 per user per month, and can have them up and running 
in an afternoon." 
		http://www.bluetie.com
		
		
		 bad news 
		?
		Black Hog Lays Off 35% of Staff
		 mail? top
		
		 SUNNYVALE, Calif.  (VENTUREWIRE) -- Black Hog, a provider of supplier 
relationship management products for complex product manufacturing, laid off 
20 people, or 35% of its staff, according to a company spokesperson. Black 
Hog executives could not be reached to provide a reason or to comment on 
whether the employees received severance. Thirty-seven people remain with the 
company. The company has raised $24 million in two rounds from Accel Partners 
and Invesco Private Capital, and is currently raising a new round.
		http://www.blackhog.com
		
		
		 new deals 
		?
		Jenoptik and Lambda Form UV Lasers JV Xtreme
		 mail? top
		
		 JENA, Germany (VENTUREWIRE) -- Jenoptik, a technology holding company which 
also makes private equity investments, and Lambda Physik, a developer of 
pulsed UV lasers based in Gottingen, Germany, announced the formation of a 
new joint venture called Xtreme technologies to develop extreme ultraviolet 
light lasers for manufacturing chip structures. Jenoptik's subsidiary, 
Jenoptik Laser, Optik Systeme, and Lambda each control 50% of Xtreme, which 
will be headquartered in Jena, Germany. Jenoptik said each company would 
invest sums in the eight-figure deutsche mark range.
		http://www.jenoptik-los.de
		http://www.lambdaphysik.com
		
		
		 new products 
		?
		Law Firm Gray Cary Launches VC Business Services Subsidiary
		 mail? top
		
		 PALO ALTO, Calif. (VENTUREWIRE) -- Gray Cary Ware & Freidenrich, a law firm 
representing technology firms, said it launched Gray Cary Venture Pipeline, a 
subsidiary which will provide non-legal business services to the technology 
venture community. Mike Krenn, formerly with the law firm of Cooley Godward 
and a founding board member and executive director of the San Diego Band of 
Angels and the San Diego Telecom Council, will serve as managing director of 
the new subsidiary. Mr. Krenn said that while the subsidiary will begin as a 
free service offered to clients of the law firm, it will eventually take fees 
from some clients and equity stakes from others. 
		http://www.graycary.com
		
		
		 m&a 
		?
		PocketMail Acquires Pocket.com's Assets for Cash & Stock
		 mail? top
		
		 SANTA CLARA, Calif. (VENTUREWIRE) -- PocketMail Group, a publicly traded 
company based in Sydney, Australia, said it acquired Pocket.com's assets for 
cash and stock. Full terms of the deal were not disclosed. Pocket.com, which 
provides a mobile e-mail service, will become a U.S. subsidiary of PocketMail 
and has retained 17 of its 25 employees, former president and COO Seth 
Rosenblatt of Pocket.com said. Mr. Rosenblatt will act as a consultant for 
the combined company. Pocket.com began shopping the company around in the 
summer of 2000 and arrived at a letter of intent from Pocketmail, a licensee 
of its product, in December 2000. Pocket.com raised $30 million since its 
inception from JAFCO American Ventures, InveStar Capital, Doll Capital 
Management, and NIF Ventures USA. Pocket.com was advised by Palo Alto, 
Calif.-based law firm Wilson Sonsini Goodrich & Rosati in the transaction.
		http://www.pocket.com
		http://www.pocketmail.com.au
		
		
		Evolve Buys Vivant for $2.7 Million in Stock and Cash
		 mail? top
		
		 EMERYVILLE, Calif. (VENTUREWIRE) -- Evolve, a publicly traded company that 
provides strategic workforce optimization software, announced it has acquired 
the core assets of Vivant, which operates an Internet marketplace for 
sourcing and managed IT contractors, for $2.7 million in stock and cash plus 
certain future contingent payments. The assets being acquired include 
Vivant's contractor management technology and Vivant's marketplace service. 
Evolve said it will also retain key Vivant employees, including Jennifer 
Callison, Vivant's vice president of product marketing. Cindy Padnos, 
Vivant's President and CEO, will join Evolve as a consultant. Vivant is 
backed by AVI Management Partners, E*O Investors, Imperial Ventures, and 
Internet Capital Group.
		http://www.evolve.com
		http://www.vivant.com
		
		
		Training Software Firm Baydon Buys Human Dynamics for $1M 
		mail? top
		
		 DUBLIN, Ireland (VENTUREWIRE) -- Baydon Solutions, which develops software 
for training and supporting employees, said it acquired Human Dynamics, a 
consulting and training services firm, in a cash-and-stock deal valued at 
approximately $1 million at the end of April. Baydon, which had a four-year 
working relationship with Human Dynamics, said it will integrate all of Human 
Dynamics' offerings and services into its company, and will also occupy Human 
Dynamics' offices in Overland Park, Kan. The company will not lay off any 
employees and is looking to hire a minimum of seven to 10 people in the 
services and development divisions. Baydon received financial advice from 
Andersen Accounting in London and Human Dynamics received legal counsel from 
Douthit Frets Rouse & Gentile. In addition Baydon said it was currently 
raising a $4 million to $5 million second round targeted to close this 
summer. Andersen Accounting is acting as the underwriter for this round. 
Baydon Solutions previously raised $1.5 millio! n in first round funding at 
the end of 1999.
		http://www.baydon-solutions.com
		http://www.hdynamics.com
		
		
		World Internetworks Merges With Trace Affex 
		mail? top
		
		 SAN JOSE, Calif. (VENTUREWIRE) -- World Internetworks (WINS), a publicly 
traded company that provides repair, remarketing, and logistics applications 
to the data storage market, said it will merge with San Jose, Calif.-based 
Trace Affex, which provides duplication and printing system applications and 
CD/DVD storage systems. Terms of the deal were not disclosed. WINS said that 
no layoffs or office closings will occur and Trace Affex's management 
structure will maintain intact. WINS is currently completing an acquisition 
of San Jose-based Gtdata. When the deal is finished, WINS will change its 
name to Gtdata and become a holding company of Trace Affex and TSLI, another 
recently acquired company. WINS is advised by investment bank Canaccord 
Capital, based in Toronto, Ontario. Trace Affex is backed by Toronto-based 
Quorum Growth Partners and private investors. It had raised appoximately $1 
million to date. 
		http://www.trace.com
		
		
		JB Oxford Buys Certain Assets of eCapitalist Financial
		 mail? top
		
		 LOS ANGELES (VENTUREWIRE) -- JB Oxford & Co., a provider of discount 
brokerage services and a subsidiary of publicly traded JB Oxford Holdings, 
announced it has agreed to acquire the customer assets of eCapitalist 
Financial Services, a broker dealer. Terms of the cash acquisition, which is 
expected to close in the second quarter, were not disclosed. The market value 
of eCapitalist's customer assets is approximately $30 million, said a JB 
Oxford & Company spokesperson. Some e-Capitalist employees may join JB Oxford 
& Company in an agreement separate from the asset acquisition. Law firm 
O'Melveney and Myers advised eCapitalist in the deal, while JB Oxford & 
Company used inside advisors. eCapitalist Financial Services is backed by 
undisclosed venture capital firms and individual investors. 
		http://www.ecapitalist.com
		http://www.jboxford.com
		
		
		EverythingTele.com Acquires TekSell.com in Stock Deal
		 mail? top
		
		 GERMANTOWN, Miss. (VENTUREWIRE) -- EverythingTele.com, a 
business-to-business telecommunications portal, said it has acquired the 
assets of TekSell.com, which provides business-to-business auctions of 
information technology equipment, in an all-stock deal. Terms of the 
acquisition were not disclosed. TekSell.com, which had received more than $1 
million from North Carolina Enterprise Fund and individuals, ran out of cash. 
EverythingTele.com will operate TekSell.com's auction platform and will 
integrate the platform into EverythingTele.com's offerings. No TekSell.com 
employees will join EverythingTele.com. Bass, Berry & Sims advised 
EverythingTele.com in the deal. EverythingTele.com is backed by more than 
$250,000 from individual investors, and expects to have positive cash flow in 
the third quarter.
		http://www.everythingtele.com
		http://www.teksell.com
		
		
		 new directors 
		?
		E-Marketplace OneMade Names John J. McLaine Chair. of Board
		 mail? top
		
		 WASHINGTON (VENTUREWIRE) -- OneMade, an online arts and crafts marketplace, 
announced it has appointed John J. McLaine chairman of the board. Mr. 
McLaine, who has been a director on the board for a year and a half, serves 
as president and CEO of McLaine Ventures and has served as president of Excel 
Communications. He replaces Liavin Mallin, who remains on the board. OneMade 
is backed by Eircon, U.S. Technologies, and individuals. Earlier this week, 
VentureWire reported that OneMade acquired Burlington, Vt.-based Collector 
Online, which operates an online antique mall, in an all-stock deal. 
		http://www.onemade.com
		
		
		 new people 
		?
		Mobile Software Provider Bwirelezz Names New CEO
		 mail? top
		
		 AMSTERDAM, The Nethelands (VENTUREWIRE) -- Bwirelezz, a provider of mobile 
business software, announced the appointment of Patrick Morley as chief 
executive officer. Mr. Morley, who currently serves as chief technical 
officer and board member of Royal KPN N.V., will assume full executive 
responsibilities at Bwirelezz by the month's end. He replaces co-founder 
Tymen Selman, who will remain with the company in a sales, marketing, and 
business development role. To date, Bwirelezz has raised approximately $1.3 
million in financing from The New Economy Trust and unnamed individuals. The 
company, which maintains operations in the Netherlands and Sweden, is 
currently seeking venture capital. 
		http://www.bwirelezz.com
		
		
		Ronald Brumback Named Pres. & COO of Top Layer Networks
		 mail? top
		
		 WESTBORO, Mass. (VENTUREWIRE) -- Top Layer Networks, which specializes in 
high-speed, high-performance network security, said it appointed Ronald 
Brumback as its new president and first chief operating officer. Mr. Brumback 
replaces Bruce Cohen in the position of president, and after a short 
transition period, will also assume Mr. Cohen's CEO title. Mr. Brumback will 
also take Mr. Cohen's seat on the eight-member board, which includes chairman 
Mike Shanahan and Barry Spinney, the company's founder and vice president of 
engineering. Mr. Cohen, who has been with the company for the last three 
years, will leave to pursue other opportunities. A Layer Networks 
spokesperson said the company began searching to fill the COO position in 
January 2001. When Mr. Brumback was introduced to the company through Steve 
Garfinkle of the Boston office of executive search firm Battalia Winston, it 
was decided that he would join the company in a capacity higher than that of 
a COO. Prior to joining Top Layer Mr. Brum! back was president of 
Illinois-based Navigation Technologies. Founded in 1997, Top Layer is backed 
by 3Com Ventures, Banc of America Securities, Brad Peery Capital, 
Egan-Managed Capital, Fidelity Ventures, Granite Ventures, ITOCHU Finance, 
LSI Logic, Morgan Stanley Dean Witter, MSD Capital, Raza Ventures, Technology 
Crossover Ventures, TI Ventures, Van Wagoner Capital Management, and private 
investors. 
		http://www.toplayer.com
		
		
		Sur La Table Names Tim Hopkins as New CEO
		 mail? top
		
		 SEATTLE (VENTUREWIRE) -- Sur La Table, an online, traditional retail, and 
catalog kitchenware company, said it has named Tim Hopkins as chief executive 
officer. Prior to his appointment, the company was headed by Carl Behnke, who 
will remain with the company as chairman. Most recently, Mr. Hopkins served 
as president and CEO for kitchenware retailer Le Gourmet Chef. He will also 
serve on Sur La Table's nine-member board of directors that includes Jon 
Ralph and Charles Rullman, both of Freeman Spogli & Co, Thomas Simpson of 
Northwest Venture Associates, and Dennis Weston of Fluke Venture Partners. In 
March 2000, Sur La Table raised $20 million in second round financing from 
Fluke Venture Partners, Freeman Spogli & Co., Northwest Venture Associates, 
Pacific NW Partners SBIC, TWB Investment Partners, as well as individual 
investors including the members of the Behnke family, Arthur and Eva Wahl, 
and Peter Starrett. 
		http://www.surlatable.com
		
		
		 vc fund news 
		?
		Irish Investment Firm Crucible to Open New Office in Belfast
		 mail? top
		
		 DUBLIN, Ireland (VENTUREWIRE) -- Crucible, an Irish early stage investment 
company, announced it plans to open an office in Belfast. The company also 
announced it has raised $10 million in funding, which will be available for 
investments in Northern Ireland technology companies. Crucible said the 
funding was provided by members of the technology community in Northern 
Ireland, institutional investors, and undisclosed U.S. venture capital 
organizations. Crucible said it is currently in Belfast, Ireland, and expects 
to open its office by the end of the summer when it also expects to make its 
first funding announcement. The company said it has appointed Denis Murphy of 
Openwave to head a team of Crucible's board of adviors in Northern Ireland. 
Crucible's portfolio includes Dublin include Mobileware, Marrakech, Aran 
Technologies and Openet Telecom.
		http://www.cruciblecorp.com
		
		
		 vc personnel 
		?
		VC Management Firm Beacon Telco Appoints Avi Legmann as VP
		 mail? top
		
		 BOSTON (VENTUREWIRE) -- Beacon Telco, a venture capital management company 
that provides funds and incubation services for broadband communications 
companies, announced Avi Legmann has joined as the company's first vice 
president. Mr. Legmann recently served as vice president of business 
development and marketing at Elron TeleSoft. Beacon Telco, which currently 
employs four investment professionals, said it will add another partner in 
the next quarter. Tech holding company Beacon Photonics formed Beacon Telco 
and has contributed $14 million to the venture capital management company's 
first fund. Beacon Telco is currently raising an additional $30 million to 
$50 million for the same fund, which maintains a carried interest of 20% and 
5% management fee. The fund will invest between $1 million and $2 million in 
seed financing for $4 million to $5 million in total investment. Beacon Telco 
expects to invest in three to five companies each year in the optical 
component, optical system, and storag! e sectors of broadband communications. 
So far it has two portfolio companies. Beacon Photonics, which owns Beacon 
Telco, is backed by Boston University, GlobalVest Management Company, and 
consulting company PRTM.
		http://www.beacontelco.com
		
		
		 vw corrections 
		?
		Bridium
		 mail? top
		
		 NEW YORK (VENTUREWIRE) -- A story in Wednesday's VentureWire about Bridium's 
$3.5 million funding round contained an incorrect description of the 
company's services. Bridium is a developer of insurance claims software, not 
marketing claims software. 
		
		
		Saipx
		 mail? top
		
		 NEW YORK (VENTUREWIRE) -- Due to incorrect information from DataMirror, a 
story in Monday's VentureWire listed Royal Bank of Canada and RT Capital as 
investors in saipx, which was acquired by DataMirror. Saipx was self-funded. 
		
		
		company index
		top
		
		American Computer Experience, Avexus, Bang Networks, Baydon Solutions, Be 
Here, Beacon Photonics, Bharti Televentures, BizAid, BlackHog.com, 
BlueLight.com, BlueTie, Brainshark, Bwirelezz, Bwirelezz, CapitalStream, 
CapMan Capital Management, Captivate Network, CGTime, Colubris Networks, 
CombineNet, Concord Ventures, Crucible, Cryptek Secure Communications, 
eCapitalist Financial Services, Endymion Systems, EverythingTele.com, Evolve, 
fusionOne, GMAC Financial Services, Gray Cary Ware & Freidenrich, Human 
Dynamics, Iclubcentral.com, InfoMove, Infraworks, IpSEAL, JB Oxford & 
Company, Jenoptik, KAL, Lambda Physik, MEGA International, Metrika, Milkhaus 
Laboratory, Molecular Mining, OneMade, OneNest.com, PocketMail Group, 
PocketScience, Reasoning, SigmaTel, SpaceVest Management Group, Stream 
International, Sur La Table, TekSell.com, TestChip Technologies, Top Layer 
Networks, Top Layer Networks, Trace Affex, Viewlocity, Vivant!, WebEvent, 
WebEvent, Workspeed, Xigo, Zarix 
		
		
		Free Trial! Hoover's Online Business Subscription
		Sign up now for a free one-week Business Subscription to
		Hoover's Online and boost your business intelligence. With
		coverage of more than 12 million private and public
		companies worldwide, Hoover's Online is the ultimate
		resource for in-depth business information, including
		company and industry profiles, IPO pricings and filings,
		news, financial data, officers, competitors and more!
		Sign up today for your free 
trial.http://www.hoovers.com/hoov/freetrial/vwire.html
		
		
		
		investor index
		top
		
		AIF Funds Management, CA Nominees, ComROAD, International Finance Corp., New 
York Life Venture Capital Group, Royal Bank Ventures, Scottish Equity 
Partners, Singapore Telecommunications, Warburg Pincus Ventures
		
		
		your account
		
		click on the following links to:
		 Switch to the plain-text version
		 Change your e-mail address
		 Cancel your subscription
		 Thoughts, suggestions, commentary
		 This newsletter was mailed to you at:  jdasovic@ENRON.COM
		
		contact
		
		Send news items to editor@venturewire.com
		Send questions, complaints, or service queries to venturewire@venturewire.com
		Send advertising inquiries to visconti@venturewire.com
		
		
		legal
		
		This copy of VentureWire and the information within it may not be reproduced, 
saved, or otherwise copied into a database without the prior written consent 
of Technologic Partners.
		
		VentureWire is a service mark of Technologic Partners
		,2001 Technologic Partners
			?