======================================================
VENTUREWIRE --- Friday, October 27, 2000
======================================================
Private Company Business News
------ Published Daily by Technologic Partners -------
http://technologicpartners.com
======================================================

Top Stories:

o Broadband Provider Altrio Holds First Round for $125 Million
o European Strategic Partners Raises $718.2 Million New Fund
o Reports: Modo Service Closes Weeks After Launch
o Commerx Co-founders Resign, Remain on Board; COO Interim CEO

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DODADS, GADGETS, AND GIZMOS, OH MY!

Our pockets are overflowing with mobile phones, PDAs, and
two-way pagers, and more products -- from Web pads to picture
frames -- come with Internet connections. Consumer Devices,
one of five expert panels at Technology Outlook 2000, will
sort through the clutter to determine which devices have the
best chances of finding mass-market audiences:

Safi Qureshy, Chairman, AudioRamp
Daniel H. Rimer, Partner, The Barksdale Group
Kent Savage, President & CEO, Netpliance
Michael Slater, President, PhotoTablet

Technology Outlook 2000:
The future of pervasive computing
December 4 and 5, San Francisco
http://www.tpsite.com/tp/conf/to2000/?vw=20001026

A VentureWire investment conference.

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Also in This Issue:

New Money:
o News Firm Gannett Buys Stake in Media Company Space.com
o Optical Networking Firm Edgeflow Gets $5.5 Million Round One
o E-Commerce Network eScout.com Raises $25.5 Million Round Two
o Infrastructure Software Firm eQview Has $3 Million Round One
o Online Business Analysis Firm Raises $2.6 Million Round One
o Info Service Traffic.com Secures $45 Million Third Round
o Commercial Property B2B FacilityPro Gets $5 Million Series B
o Gay.com Invests in Italian Gay Portal Gay.it
o Online Bank Service Firm BNKR Raises $1.5 Million Round Two
o Custom CD Provider DigitalSwift Raises Second Round
o Launchworks Invests in Utility Management Firm E2MS
o Semiconductor Materials Firm EpiWorks Adds $1 Million

New Deals:
o Oracle Trades Interactive TV Assets for Stakes in Two Firms
o More Details on Sony and Candescent's $77.5 Million Pact

M&A:
o Red Cube Makes $20 Million Payment to Buy Majority of I-Link
o Credence Systems Buys NewMillennia for $11.3 Million
o Embarcadero Acquires Web Design Firm in $13 Million Deal
o Q&A Firm Answers.com Acquires Real-time Help Firm Knowitall
o Broadband Firm MegaPath Networks Purchases Phoenix Networks
o Digital Video Firm Ligos Buys Digital I/O App Firm Sequoia
o Sega to Acquire Family-Oriented Web Site FamilyWonder
o UConnections.com Acquires Software Developer Alumnipride
o Varimetrix Acquires European Distributor From Encee Systems

New Directors:
o Web App Software Firm Notara Adds Two to Board
o Advent Partner Joins Board of Imaging Firm LightLab
o Optical Firm LiquidLight Announces Board of Directors
o Screen4me Adds President of Consumer Research Firm to Board
o Wireless Tech Firm Altawave Adds Prodigy COO to Board

New People:
o Data Firm eData Names Ex-Andersen Consulting Exec as CEO
o Telco Services Firm Zenfinity Names New CEO and Director

VC Fund News:
o Advent Venture Partners' New Fund Raises $232 Million
o Village Ventures Launches Nashville Fund

VC Personnel:
o VS&A Communications Partners Names New Principal

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Computers in our pockets, our cars, our kitchens, our showers?

When it happens, there's little doubt that IBM and Intel will
have had something to do with it. Come hear what these industry
powerhouses are doing in this field from Claude Leglise,
VP of the Intel Architecture Group & GM of Intel's Home Products
Group, and from Michel Mayer, GM of Pervasive Computing at IBM at:

Technology Outlook 2000:
The future of pervasive computing
December 4 and 5, San Francisco
http://www.tpsite.com/tp/conf/to2000/?vw=20001026
A VentureWire investment conference.

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

o Broadband Provider Altrio Holds First Round for $125 Million

GLENDALE, Calif. -- Altrio Communications, a provider
of broadband communications, said it raised $125
million in its first round of funding. Bessemer
Holdings and Frontenac co-led the round, which included
Bank of America Capital Investors; Grove Street
Advisors; RBC Partners, the private equity unit
of Royal Bank Financial Group; Soros Private Equity
Partners; and SSB Capital Partners, the private
investment unit of Salomon Smith Barney. Adam Godfey
and Ed Park of Bessemer Holdings, James E. Crawford
III and Walter C. Florence of Frontenac, and representatives
of Soros Private Equity and SSB Capital Partners
will join the company's board of directors. The
company will use the funding to build its broadband
communications network in the Los Angeles area.
http://www.altrio.net/
_____________________________________________

o European Strategic Partners Raises $718.2 Million New Fund

EDINBURGH, Scotland -- Standard Life Investments,
a U.K. mutual investment company, said it completed
the final closing of its new private equity fund,
European Strategic Partners. The total commitments
to the fund are now EUR 868 million ($718.2 million)
from 40 investors in 12 countries. A third of the
capital raised for the fund has already been committed
to investments in 13 funds and 6 direct transactions.
The fund will focus on the mid-market-buyout and
the telecommunications and technology investment
sectors. The fund is split 60% to 40% between investments
in other funds and direct investment in companies.
Telephone +44-131-245-5593.
_____________________________________________

o Reports: Modo Service Closes Weeks After Launch

NEW YORK -- Scout Electromedia, developer of a wireless
handheld device and urban guide service, has closed
down, according to multiple reports. Scout, which
launched its Modo service last month with an extensive
ad campaign, ceased operations after failing to
secure additional funding, according to the reports.
The company raised $18 million in May from idealab,
Chase Capital Partners, Flatiron Partners, and TechFund
Capital. Scout's corporate Web site, and the Modo
site were both inaccessible today.
_____________________________________________

o Commerx Co-founders Resign, Remain on Board; COO Interim CEO

CHICAGO -- Commerx, which develops and operates
electronic business networks, said its board of
directors has accepted the resignations of co-founders
Tim Stojka, chairman and CEO, and Nick Stojka, executive
vice president. Both will retain their seats on
the board of directors. Tim Stojka will continue
to serve as chairman of the board. Commerx named
COO Jeff Garwood as interim chief executive officer.
Last week, Mr. Garwood announced his intention to
resign as Commerx COO for a chief executive position
with another company. He has agreed to remain at
Commerx through a transitionary period. Commerx's
electronic business networks enable manufacturing
companies and their trading partners to optimize
their supply chains. The company's investors include
Capital Research and Management, divine interVentures,
MC Capital, Mitsui & Co., Palantir Associates, Pivotal
Asset Management, Ashland Distribution, Eastman
Chemical, EP Partners, Huntsman, Mitsubishi International,
MSC Industrial Direct, H. Nuehlstein & Co., Internet
Capital Group, and individual investors.
http://www.commerx.com/

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

o News Firm Gannett Buys Stake in Media Company Space.com

NEW YORK -- News and information company Gannett
said it took an equity stake in Space.com, a media
company dedicated to outer space and space related
content. The equity exchange is part of a strategic
partnership between the two companies. Space.com
has acquired Space News newspaper and other media
properties of Gannett. Gannett will invest an undisclosed
amount of cash and provide services for Space.com.
Earlier this month, Space.com laid off 22 of its
108 employees. Space.com is backed by Blue Chip
Venture, Greylock, NBC, PaineWebber, SpaceVest,
Venrock Associates, and individuals.
http://www.space.com/
_____________________________________________

o Optical Networking Firm Edgeflow Gets $5.5 Million Round One

KANATA, Ontario -- Edgeflow, a developer of optical
networking services to the carrier and enterprise
markets, said it raised $5.5 million in its first
round from Sierra Ventures and Venture Coaches.
The company will use the funds to continue development
of its technology.
http://www.edgeflow.com/
_____________________________________________

o E-Commerce Network eScout.com Raises $25.5 Million Round Two

LEE'S SUMMIT, Mo. -- eScout.com, a Web-based Internet
commerce and business network for independent businesses
and banks, said it raised $25.5 million in its second
round of financing. New investors include Allfirst
Financial, Citizens Financial Group, Golden State
Bancorp, Marquette Bancshares, Texas Financial Bancorp,
and Utilicorp Communications Services. First round
investors including Mayfield Fund, Oak Hill Venture
Partners, Tarrant Venture Partners, A.G. Edwards
Capital, and Commerce One also participated this
round. The company will use the funds to accelerate
the integration of its online service, eScout MarketPlace,
into the back-end, legacy applications at its partner
banks. EScout has raised $54 million to date.
http://www.escout.com/
_____________________________________________

o Infrastructure Software Firm eQview Has $3 Million Round One

ATLANTA -- eQview, which provides enterprise infrastructure
software that enables companies  to do business
electronically, said it has raised $3 million in
first round of funding from Cordova Ventures and
individual investors. eQview said it will use the
funding to develop its product, and for sales and
marketing. The company plans to seek up to $20 million
in additional funding early next year.
http://www.eqview.com/
_____________________________________________

o Online Business Analysis Firm Raises $2.6 Million Round One

LONDON -- IntelligentApps,which provides online
analytical processing services, raised GBP 1.8 million
($2.6 million) in its first round of funding. The
round was led by publicly-traded UK incubation firm
NewMedia Spark and a consortium of individual investors.
Among the individuals to invest in the company was
Geoff Squire, founding managing director of Oracle
UK and later executive vice president for Oracle.
The company's technology was developed exclusively
for the new Microsoft.net platform. The company
said it will use the funding for business development.
IntelligentApps also owns Knosys, which provides
a front-end analytical application platform.
http://www.intelligentapps.com/
_____________________________________________

o Info Service Traffic.com Secures $45 Million Third Round

WAYNE, Pa. -- Traffic.com, which provides traffic
information services, said it raised $45 million
in its third round of funding. New investor Baker
Capital led the round, which included other new
investors DVCRF Ventures, Hearst Interactive Media,
and PNC Financial Service's Group unit VentureBank@PNC.
Previous investors Bessemer Venture Partners and
TL Ventures also participated in this round. Baker
Capital partner Larry Bettino will join the company's
board of directors. The company will use the funding
to launch its operations and expand its data center.
Traffic.com provides prediction services and real-time
traffic news. The company has also received backing
from Internet Capital Group and Pennsylvania Early
Stage Partners.
http://www.traffic.com/
_____________________________________________

o Commercial Property B2B FacilityPro Gets $5 Million Series B

ATLANTA -- FacilityPro.com, a business-to-business
electronic marketplace for commercial property owners,
managers and suppliers, said it has secured $5 million
in its Series B round of funding from First Union
Capital Partners. The funding brings the total of
the company's Series B financing to $40 million.
The round included Constellation Real Technologies
and previous investor Austin Ventures. The company
said it will use the funds to enhance and expand
the capabilities of its online marketplace and hire
additional consulting and operating personnel. FacilityPro
has also received funding from Encompass Services.
http://www.facilitypro.com/
_____________________________________________

o Gay.com Invests in Italian Gay Portal Gay.it

SAN FRANCISCO -- Gay.com, a provider of products
and services for gay men and women, said it made
a strategic investment in Gay.it, a gay and lesbian
portal based in Italy. Gay.com said the investment
is part of its ongoing global expansion. The company
acquired France-based Ooups.com, and launched news
sites aimed at the gay community in the U.K. and
Latin America. Gay.com is backed by Chase Capital
Partners, Flatiron Partners, Baroda Ventures, Macluan
Digital, Jesse.Hansen.CoVe, and IDG Ventures.
http://www.gay.com/
http://www.gay.it/
_____________________________________________

o Online Bank Service Firm BNKR Raises $1.5 Million Round Two

BUFFALO, N.Y. -- Rand Capital said it made a second
investment in BNKR, which provides online banking
capabilities to banks and credit unions. The return
investment, a bridge loan of $200,000, is part of
BNKR's $1.5 million second round. Minneapolis-based
BNKR is also backed by Softbank affiliate Seed Capital
Partners. BNKR provides banking marketing and application
services.
http://www.bnkr.com/
_____________________________________________

o Custom CD Provider DigitalSwift Raises Second Round

ATLANTA -- DigitalSwift, a producer of custom CDs
via its SwiftCD.com division, said it raised an
undisclosed amount of second round funding. The
round was led by Universal Investment & Manufacturing
Co., whose  chairman Hisham Araim will take a new
seat on the board as a result of the investment.
Financial consultant Gregory N. Gallagher also
joined the board but is not an investor. The company
will use the funds to expand its Atlanta office.
http://www.swiftcd.com/
_____________________________________________

o Launchworks Invests in Utility Management Firm E2MS

TORONTO -- Launchworks, which provides early stage
capital to software and technology companies, said
it invested $2 million in E2MS, which provides software
and services that enables users to manage their
gas, electrical, and water utility services. E2MS,
which is also based here, will use the funds for
marketing and expansion.
http://www.launchworks.com/
http://www.e2ms.com/
_____________________________________________

o Semiconductor Materials Firm EpiWorks Adds $1 Million

CHAMPAIGN, Ill. -- EpiWorks, which develops and
manufacturers compound semiconductor materials,
said it has secured an additional $1 million in
its Series C funding from previous investor Open
Prairie Ventures.  The investment follows an earlier
investment of $1.5 million by Open Prairie in March.
The funds will support hiring.
http://www.epiworks.com/

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

o Oracle Trades Interactive TV Assets for Stakes in Two Firms

REDWOOD SHORES, Calif. -- nCube, which provides
media streaming infrastructure, said database giant
Oracle sold assets of its interactive television
unit to nCube and broadband network service provider
Thirdspace Living in exchange for minority equity
stakes in both companies. Financial terms of the
deals were undisclosed. Under the terms of the agreement,
nCube and Thirdspace will jointly own the intellectual
property of Oracle's interactive TV video server
technology. The three companies will also work together
to develop interactive TV products and services.
Publicly traded broadband access provider Alcatel
also invested its interactive TV intellectual property
and cash for a minority stake in Thirdspace. nCube
is backed by Oracle CEO Larry Ellison and other
institutional and individual investors.
http://www.ncube.com/
http://www.oracle.com/
_____________________________________________

o More Details on Sony and Candescent's $77.5 Million Pact

TOKYO -- Flat panel display developer Candescent
Technologies and Sony released details of their
previously reported agreement to develop high voltage
field emission display technology. Sony will pay
a total of $77.5 million as a result of the agreement.
Sony will invest $27.5 million in Candescent for
an equity stake and will pay $50 million to license
Candescent's technology. Additional funding will
come from both companies over the life of their
joint development agreement. Candescent has raised
over $410 million from corporate, government, institutional,
and venture capital sources.
http://www.candescent.com/
http://www.world.sony.com/

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

o Red Cube Makes $20 Million Payment to Buy Majority of I-Link

ZURICH, Switzerland -- Red Cube International, a
provider of Internet Protocol (IP) and Web-based
communications services, said it is has made a first
payment of $20 million in cash under its agreement
to acquire a majority interest in publicly-traded
I-Link, a provider of enhanced voice/data services.
As part of its securities agreement to acquire
all I-Link securities held by Winter Harbor, a Marriott
holding company, Red Cube will make an additional
cash payment of $15 million to complete the first
closing of the transaction within the fourth quarter
of 2000. A second closing involving payment by Red
Cube of $25 million in cash is expected to be completed
within the first quarter of 2001. Under the terms
of the transaction, Red Cube agreed to pay Winter
Harbor a total of $60 million in cash and $20 million
in long-term, Red Cube share options in return for
its majority interest in I-Link. Red Cube is backed
by Rafaello Private Equity Investment, Credit Suisse
Asset Management, Banc Pictet & Cie, and Swiss Re
Investors in Europe.
http://www.i-link.com/
http://www.redcube.com/
_____________________________________________

o Credence Systems Buys NewMillennia for $11.3 Million

FREMONT, Calif. -- Credence Systems, a publicly-traded
company that manufacturers automatic test equipment
for the semiconductor industry, said it is acquiring
NewMillennia Solutions (NMS), a provider of test
strategies and products, for approximately $11.3
million. The purchase price includes $4 million
that Credence provided as part of NewMillennia's
Series A round in August. Before the acquisition,
Credence held a 19.8% interest in NMS. Jim Ellis,
founder, president and chief executive officer of
NMS will become vice president and general manager
of the NMS Division of Credence Systems.
http://www.credence.com/
http://www.moduletest.com/
_____________________________________________

o Embarcadero Acquires Web Design Firm in $13 Million Deal

SAN FRANCISCO -- Embarcadero Technologies, a publicly-traded
provider of database lifecycle management software,
said it acquired Advanced Software Technologies
for $13 million in cash. Advanced Software Technologies
develops software that designs, maintains, and re-engineers
Java, C++, IDL and component-based applications.
The company's 40 employees and CEO Greg Schottland
will remain with the company in Colorado. Mr. Schottland's
position is yet to be decided. Advanced Software
Technologies is funded by Draper Fisher Jurvetson,
Gateway Associates, Wasatch Venture Fund, and Zone
Ventures.
http://www.embarcadero.com/
http://www.advancedsw.com/
_____________________________________________

o Q&A Firm Answers.com Acquires Real-time Help Firm Knowitall

PASADENA, Calif. -- Answers.com, a provider self-service
question and answer technology, said it acquired
Austin, Texas-based Knowitall.com, which provides
real-time communication and collaboration products,
for an undisclosed amount. Dewey Gaedcke, Knowitall's
interim chief executive officer, will step down
to focus on his position as president of Complete
Data Solutions. Carl Samos, chief technology officer,
and Lance McInnes, vice president of corporate development,
will remain in their current positions with the
new company. Knowitall's offices in Austin will
remain as a sales and development office for Web-enabled
customer interactive technology. Answers.com is
backed by idealab! Knowitall is backed by Crest
Financial, G51, and individual investors.
http://www.answers.com/
http://www.knowitall.com/
_____________________________________________

o Broadband Firm MegaPath Networks Purchases Phoenix Networks

PLEASANTON, Calif. -- MegaPath Networks, a national
broadband services provider, said it has purchased
Phoenix Networks, also a broadband services provider.
Under the terms of the deal, MegaPath purchased
the assets of Phoenix Networks in exchange for MegaPath
stock. Phoenix Networks president and CEO, Dan Foster,
will become MegaPath's chief marketing and sales
officer. The companies plan to merge operations
and administrative functions over the next 60 days.
Phoenix DSL business customers will be immediately
switched to MegaPath's systems and customer service.
The company will maintain a St. Louis presence.
MegaPath Networks' investors include Trident Capital
and U.S. Venture Partners.  Phoenix Networks is
backed by individual investors.
http://www.megapath.net/
http://www.phoenixnetworks.net/
_____________________________________________

o Digital Video Firm Ligos Buys Digital I/O App Firm Sequoia

SAN FRANCISCO -- Ligos Technology, a developer of
media stream management software, said it acquired
Sequoia Advanced Technologies, a supplier of digital
input/output (I/O) software and digital storage
technology. Terms of the deal were undisclosed.
Sequoia's staff will remain with the company and
Sequoia co-founders and acting CEOs Rick Tewel and
Tore Slotseldt will stay as part of the management
team. Ligos is funded by Mercantile Capital Partners,
Intel Capital, Lakeland Capital, Thomas Weisel Partners,
Nomura Technology Fund, Oscar Capital New Ventures
Fund, Permal Capital Management, and Westbury Equity
Partners. Sequoia is self-funded. Telephone 415-249-0100.
http://www.ligos.com/
_____________________________________________

o Sega to Acquire Family-Oriented Web Site FamilyWonder

TOKYO -- Digital entertainment media giant Sega
Group said it is in negotiations to acquire a 100%
stake in FamilyWonder, an online retailer of children's
products and a provider of family-oriented consumer
information. Further financial deals were undisclosed.
The company's Web site, current staff, and assets
will be managed by Sega as a result of the acquisition.
FamilyWonder's chief executive officer Charlie Baker
will remain with the company. FamilyWonder is backed
by MeriTech Capital Partners, RRE Ventures, Accel
Partners, and U.S. Venture Partners.
http://www.familywonder.com/
_____________________________________________

o UConnections.com Acquires Software Developer Alumnipride

NEW YORK -- UConnections.com, an online resource
for e-commerce and information tailored to local
campus communities, said it has acquired Alumnipride,
a software provider for national college and university
alumni associations, for an undisclosed amount.
UConnections.com has established a new division,
University Services, to support development and
sales of Alumnipride's Web site software. Alumnipride's
founder, David Landau, will become executive vice
president, corporate development for Uconnections.com.
Alumnipride is also launching a new software product
for national alumni associations that builds, hosts
and maintains Web sites for their organizations.
AlumniPride's staff has moved into the Uconnections.com's
New York offices. Uconnections.com is backed by
Allen & Company  and KnowledgeCube. AlumniPride
is backed by Seneca Ventures, Woodland Venture Fund,
Dalewood Associates, the principals of Wheatley
Partners, and the founders of Cheyenne Software.
http://www.alumnipride.com/
http://www.uconnections.com/
_____________________________________________

o Varimetrix Acquires European Distributor From Encee Systems

PALM BAY, Fla. -- Varimetrix, a developer of CAD/CAM
technology for engineering and manufacturing industries,
said it acquired its European distributor from Encee
Systems for an undisclosed amount and opened a distribution
site in Tokyo. The new European division will be
staffed by Varimetrix personnel and will support
existing partners in the U.K., Germany, Italy, Switzerland,
Portugal, and Turkey. The Asian distributor is being
established by the company's investor Shin Nippon
Koki (SNK). Former SNK president Hizakasu Yamaguchi
will serve as president of the Asian distributor.
Varimetrix is backed by SNK and Samsung.
http://www.vx.com/
http://www.encee.com/

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

o Web App Software Firm Notara Adds Two to Board

NEW YORK -- Notara, a Web application software company,
said it has appointed Neil Austrian, the chairman
of iWon.com and former president and chief operating
officer of NFL, to its board of directors. Mark
Dowley, the president of the marketing communications
group of McCann-Erikson WorldGroup and chairman
and chief operating officer of Momentum Worldwide
has also taken a seat on the board, Notara said.
Notara is backed by Hummer Winbald Venture Partners,
RRE Ventures, Bessemer Venture Partners, Nassau
Capital, Sumitomo Corp, and the UK-based Prot,g,
Group.
http://www.notara.com/
_____________________________________________

o Advent Partner Joins Board of Imaging Firm LightLab

WESTFORD, Mass. -- LightLab Imaging, a developer
of optical coherence tomography systems for imaging
applications, said it appointed William C. Mills
III to its board of directors. Mr. Mills is a partner
at investment firm Advent International, where he
focuses on biotech investments. LightLab is backed
by German-based optics company Calzeiss.
http://www.lightlabimaging.com/
_____________________________________________

o Optical Firm LiquidLight Announces Board of Directors

ATLANTA -- LiquidLight, a developer of optical networking
technology, said it named the members of its board
of directors.  Appointees include Morgan M. Jones,
General Partner with Battery Ventures; Fahri Diner,
president, CEO and founder of Qtera, a wholly-owned
subsidiary of Nortel Networks; Jim Orlando, principal
with Battery Ventures; TC Nie, founder, CEO, and
president of LiquidLight; and Scott Hardin, LiquidLight
co-founder and vice president of marketing and sales.
The company is backed by Battery Ventures and Dominion
Ventures.
http://www.liquidlightinc.com/
_____________________________________________

o Screen4me Adds President of Consumer Research Firm to Board

ATLANTA -- Screen4me, a provider of privacy and
permission tools and services that allow consumers
to control the marketing materials they receive,
said it named J. Walker Smith to its board of directors.
Mr. Smith is president of Yankelovich Partners,
a market research firm.  Screen4me's investors include
Robinson-Humphrey Company, Intelligent Systems and
individuals from Brann RMG, Yankelovich Partners,
Siebel Systems, Boston Consulting Group, and Holland
& Knight.
http://www.screen4me.com/
_____________________________________________

o Wireless Tech Firm Altawave Adds Prodigy COO to Board

FREMONT, Calif. -- Wireless infrastructure builder
Altawave said it appointed Gregory G. Williams to
its board of directors. Mr. Williams is the chief
operating officer at Prodigy Communications. Mr.
Williams is also chairman of the Wireless Application
Protocol (WAP) Forum board of directors. Altawave
is backed by New Millennium Partners and Clarity
Capital.
http://www.altawave.com/

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

o Data Firm eData Names Ex-Andersen Consulting Exec as CEO

BOCA RATON, Fla. -- EData, a provider of Internet-accessable
data management services, said it has appointed
former managing partner and founder of Andersen
Consulting's CRM practice Dale Renner as its first
chief executive office. Founder Hank Asher will
remain on the eData board as founder and will continue
to work on product design and technology. EData
is funded by individual investors.
http://www.edata.com/
_____________________________________________

o Telco Services Firm Zenfinity Names New CEO and Director

ISELIN, N.J. -- Zenfinity, a provider of infrastructure
services for telecommunications service providers,
said it appointed Paul Shaneck as CEO and a director
of the company. Mr. Shaneck , a former IBM executive,
replaces Paras Shah, who provided the seed funding
to launch Zenfinity and is now a member of its advisory
board. The company's backers include Comstellar
Technologies.
http://www.zenfinityinc.com/

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

o Advent Venture Partners' New Fund Raises $232 Million

LONDON -- Advent Venture Partners, a U.K.-based
venture capital firm, said it has held a first closing
of GBP 162 million ($232 million) for its new fund,
Advent Private Equity Fund III. The fund is targeted
at $375 million dollars, but the firm said it could
raise up to $450 million. In line with Advent's
investment strategy, the new fund will focus on
investing between $5 million and $15 million in
emerging growth technology companies in typically
second round financings, with some pre-IPO and startup
investments as well. The fund focuses primarily
on investments in the United Kingdom and, to a lesser
extent, other European Union countries and the United
States. Since it was formed in 1981, Advent Venture
Partners has raised $602 million, and invested in
160 companies.
http://www.adventventures.com/
_____________________________________________

o Village Ventures Launches Nashville Fund

WILLIAMSTOWN, Mass. -- Village Ventures, which manages
a network of early-stage venture capital funds,
said it is organizing a fund in Nashville, Tenn.
The Nashville fund will be managed by Tuff Yen,
a former partner with Hambrecht & Quist. The fund,
which has yet to be named, will focus on early to
mid-stage companies located in the Southeast. With
the new fund, the Village Ventures network of funds
now totals nine, with a typical fund size of between
$10 million and $15 million.
http://www.villageventures.com/

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

o VS&A Communications Partners Names New Principal

NEW YORK -- VS&A Communications Partners III, an
equity affiliate of media merchant bank Veronis
Suhler, said it has named George Coles as a principal.
Mr. Cole was most recently the managing director
of First Union Securities' media and entertainment
investment banking group. At VS&A, he will report
to Jeffrey T. Stevenson, partner at Veronis Suhler,
and president and managing  general partner of VS&A
Communications Partners. VS&A's has18 companies
in its Funds I and II, and has made more than 80
add-on acquisitions.
http://www.veronissuhler.com/

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CHANGING SUPPLY CHAINS

A typical hospital buys $50 million in supplies from 22,000
suppliers annually.  On average there is a 75% price discrep-
ancy for identical products.  Paper invoices cost 30 times as
much as electronic invoices. Room for improvement? Perhaps.
We've convened an expert panel at Healthcare Outlook 2000 to
help us understand where the changes will come from and who
the big winners will be:

Dr. Gilbert H. Kliman, General Partner, InterWest Partners
Dr.David M. Auerbach, Principal, Decision Health
Sundeep Bhan, Chairman,President, & CEO, Medsite.com
Anne De Gheest, President & CEO, medpool.com
Daren C. Marhula, Sr. Research Analyst, Healthcare,
U.S. Bancorp Piper Jaffray

For a full agenda, and to register:
http://tpsite.com/tp/conf/ho2000/?vw=20001026


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