As We Went To Press:

As Private Equity Week went to press late last Thursday, Ottawa-based Solinet Systems Inc. announced that it had raised $93 million in its second round of venture financing. The next-generation optical networker – which is keeping details of its technology close to the vest – had initially pitched the deal with a $73 million target capitalization but raised the ceiling after strong investor interest.

U.S. Venture Partners led the up-round, and was joined by New Enterprise Associates, Alta Partners and Series A participants Bessemer Venture Partners, Worldview Technology Partners and Altamira.