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Dex Media Inc., an Englewood, Colo.-based phone directories publisher, has filed to raise $1.5 billion via an IPO of common stock on the NYSE under an undetermined ticker symbol. Morgan Stanley, Lehman Brothers and Merrill Lynch & Co. will act as joint book-runners for the proposed offering. Dex Media was created in August 2002, when Qwest Communications Inc. sold off its yellow pages unit for $7.1 billion to The Carlyle Group and Welsh, Carson, Anderson & Stowe. www.dexmedia.com
Disc Dynamics Inc., a Eden Prairie, Minn.-based provider of minimally-invasive surgical alternatives for lower back pain, has raised $24 million in new VC funding. An unnamed strategic investor led the deal, and was new investor Affinity Capital Management and return backers St. Paul Venture Capital, Pequot Capital and Brightstone Capital. The company now has raised over $37 million in total VC funding since its May 2000 inception, including a $9.25 million Series D round in the fall of 2002. www.discdyn.com
Reuters PLC (Nasdaq: RTRSY) has sold The Yankee Group to Monitor Clipper Partners and a group of private investors that includes Ted Phillip, the former president, COO and CFO of Lycos Inc. Deal terms were not disclosed. Reuters originally bought the Cambridge, Mass.-based research and advisory firm in 2000 for around $72.5 million in cash. www.yankeegroup.com
Encover Inc., a Mountain View, Calif.-based provider of sales service automation software, has raised $11 million in Series C funding. DCM-Doll Capital Management led the deal, and was joined by return backer Sigma Partners. The company now has raised around $18 million in VC funding since its 2000 inception. www.encover.com
DiskSites Ltd., a Tenafly, N.J.-based provider of network optimization solutions for enterprises with branch offices, has held a $3.5 million final close on its first round of institutional funding. The deal now totals $9 million, and included investments from Tamir-Fishman Ventures and Proseed. www.disksites.com
Real Times Worlds, a Scotland-based developer of video games, has received a £1.05 million investment from CIM Venture Fund for Creative Industries and Scottish Enterprise.
MAP ROI Systems Inc. has raised $2.6 million in new VC funding led by Novak Biddle Venture Partners. The Sterling, Va.-based company provides a collaborative end-to-end system for proposing, winning and managing government business. www.maproi.com
CallWave Inc., a Santa Barbara, Calif.-based provider of communications application services, has filed to raise $69 million via an IPO of common stock on the Nasdaq under proposed ticker symbol CALL. The company has raised VC funding from significant shareholders like Insight Venture Partners and New Millennium Partners. www.callwave.com
GuruNet Corp. (f.k.a. Atomica Corp.), a Jerusalem-based provider of integrated online answers through the Internet, has filed to raise $76.7 million via an IPO of the Nasdaq SmallCap market under proposed ticker symbol GURU. Signficant shareholders include Highland Capital Partners, Israel Seed Partners and the Dawntreader Fund. www.atomica.com
Huron Consulting Group Inc., a Chicago-based consultancy, has filed to raise $100 million via an IPO of common stock on the Nasdaq under proposed ticker symbol HURN. The company was founded in 2002 by former Arthur Anderson partners and professionals, plus equity sponsorship from Lake Capital Management. www.huronconsultinggroup.com
The National Venture Capital Association (NVCA) bestowed the following awards yesterday during its annual meeting in San Francisco: Peter Crisp of Venrock Associates and Henry McCance of Greylock received the Lifetime Achievement Award; Rodney Goldstein of Frontenac Co. and Roe Stamps of Summit Partners received the NVCA Outstanding Service Award; and William Bowes of U.S. Venture Partners received the American Spirit Award, which honors an NVCA member for leadership in the areas of philanthropy and public service. www.nvca.org
Hesham Ali has joined Permal Capital as a senior associate in the firm’s Boston office. He is a recent graduate of The Fuqua School of Business at Duke University, and has worked at both Investcorp and Boston Capital. www.permal.com
Landmark Partners has promoted Tarra Bohr to the position of director, Kathryn Feeney to the position of senior associate, and Mark Dendinger, Maura Reilly and Shaun Fitzgibbon to the position of associate. In addition, the firm has hired Michael Carrano as a senior associate, Kenneth Phelen as an associate and Scott Beckelman as an analyst. Carrano recently received his MBA from Tuck School of Business at Dartmouth, Phelan most recently served as an analyst with the M&A group at Wachovia Securities and Beckelman previously worked as a summer intern with Landmark after receiving his BA from Trinity College. www.landmarkpartners.com
The Utah Capital Investment Corp. has formed its board of directors, which will be one of two bodies overseeing the state’s new $100 million fund-of-funds. The five directors are: Will West, president and CEO of Control4; Gary Crittenden, CFO and executive vice president of American Express; Richard Nelson, president and CEO of the Utah Information Technology Association; Frank Trumbower, retired CEO of Cambridge Technology Partners and Geoff Woolley, founder of Dominion Ventures and European Venture Partners.
Bridge Street Capital Partners has held a first close on its inaugural private equity fund, with capital commitments in excess of $30 million. The fund is being marketed with a $75 million target capitalization, and will make control investments in profitable private companies primarily located in the Great Lakes region of the U.S. It is headquartered in Grand Rapids, Mich., and also has an office in Chicago. www.bridgestreetcapital.com
Robert W. Baird & Co. has completed its purchase of Northwestern Mutual’s 57% interest in Baird. As part of the agreement, Northwestern Mutual will retain the option to acquire up to a 7% equity interest in Baird sometime in the future.
Finatem GmbH, a Frankfurt-based middle-market buyout firm, has held a €74 million first close on its second fund, according to PrivateEquityCentral.net. The fund has a target capitalization of between €125 million and €150 million, with UK-based Almeida Capital serving as placement agent. www.finatem.com
News From Thursday 5/13
Amicus Therapeutics Inc., a New Brunswick, N.J.-based drug development company focused on human genetic disorders like lysomal storage diseases, has raised $31 million in Series B funding. Canaan Partners led the deal, and was joined by fellow new investors Frazier Healthcare Ventures, New Enterprise Associates, Prospect Venture Partners and Radius Venture Partners. Return backer CHL Medical Partners also participated. www.amicustherapeutics.com
Syngenta International AG (NYSE: SYT) and Fox Paine & Co. have teamed up to acquire Advanta BV from AstraZeneca PLC (NYSE: AZN) and Royal Cosun, for a total consideration of €400 million. Syngenta, a Sweden-based agrochemicals company, will acquire 90% of Advanta’s North American corn and soybean business for a payment of €239 million. Fox Paine, a Foster City, Calif.-based private equity firm, will receive the remaining 10%, all Advanta operations outside of North America and the company’s non-corn and non-soybean operations within North America. Fox Paine will contribute €161 million. www.advantaseeds.com
WildTangent Inc., a Redmond, Wash.-based publisher of online games, has raised $16.5 million in fourth-round funding. Advanced Technology Ventures led the deal, and was joined by return backers Greylock, Madrona Venture Group, New Millennium Partners, IDG Ventures, Venture Law Group and Washington Mutual Inc. Steve Baloff, a general partner with ATV, will join the WildTangent board, in conjunction with the financing. The company now has raised over $67 million in total VC funding since its 1998 inception, including a $34 million Series C deal in late 2000 at a post-money valuation of approximately $140 million. www.wildtangent.com
Ensemble Discovery Corp., a Cambridge, Mass.-based company that uses DNA molecules to direct synthesis of organic compounds, has raised $15 million in Series A funding. Investors included Flagship Ventures, ARCH Venture Partners and Oxford Bioscience Partners. The company was founded by Flagship Ventures and Professor David Liu of Harvard University, and holds an exclusive license to the patents covering DNA programmed-chemistry from Harvard.
Omniture Inc., an Orem, Utah-based provider of Web analytics, has raised $14.35 million in Series B funding. Hummer Winblad Venture Partners led the deal, and firm partner Mark Gorenberg will join the Omniture board of directors. www.omniture.com
IQS Inc., a Cleveland-based provider of quality performance management software, has received $1 million in new Series A funding from Apex Venture Partners. Apex now has invested $3 million into IQS, and the most recent infusion completes the company’s Series A funding round. www.iqs.com
Intuwave Ltd., a Maidenhead, UK-based provider of a mobile software platform, has received a $3.6 million strategic investment from GemVentures, the corporate VC arm of Gemplus SA.
MathStar Inc., a Minneapolis-based provider of semiconductor chips, has raised $9.6 million in new VC funding from unnamed investors. The company says that it now has raised $52.3 million in total VC funding. www.mathstar.com
G2 Microsystems Inc., an Australia-based provider of asset tracking devices for global supply chains, reportedly has received $1.3 million in startup funding. DB Capital Partners led the round with a $685,000 investment.
Sterling Investment Partners has made a control investment in Community Research Associates Inc., an Alexandria, Va. -based provider of domestic preparation services, particularly for events involving weapons of mass destruction such as biological or chemical weapons. No transactional terms were disclosed. www.community-research.com
American Capital Strategies Ltd. has invested $60 million to fund a recapitalization of The Hilsinger Company Inc., a Plainville, Mass.-based provider of eye care accessories and supplies. The $60 million includes senior term debt, a senior secured acquisition line and senior and junior subordinated debt. American Capital also is providing a revolving credit facility. Hilsinger is majority-owned by ICV Capital Partners and Palladium Equity Partners. www.hilco.com
Mercury Interactive Corp. (Nasdaq: MERQ) has agreed to acquire Appilog Inc., a New York-based provider of business technology optimization solutions. The transaction is valued at approximately $49 million in cash, and is expected to close in June. Appilog has raised over $10 million in VC funding since its 2000 inception, from investors like Delta Ventures, Poalim Capital Markets Technologies Ltd. and the Cedar Fund. www.appilog.com
LexisNexis US, a unit of Reed Elsevier Group PLC (NYSE: RUK), has acquired Verilaw Technologies Inc., a Wayne, Pa.-based provider of e-filing services to courts, government agencies and law firms. No deal terms were disclosed. Verilaw has raised VC funding from BaseCamp Ventures and The Reinvestment Fund. www.verilaw.com
NeuroMetrix Inc., a Waltham, Mass.-based maker of non-invasive diagnostic equipment for neuromuscular disorders, has filed to raise $34.5 million via an IPO of common stock on the Nasdaq under proposed ticker symbol NURO. The company has raised over $40 million in VC funding from significant shareholders like J.H. Whitney & Co., Delphi Ventures, BancBoston Ventures, Harris & Harris Group and Commonwealth Venture Partners. www.neurometrix.com
Shanda Interactive Entertainment Ltd., a Shanghai-based operator of online games in China, will begin trading on the Nasdaq under ticker symbol SNDA. The company yesterday priced over 13.85 million American Depository Shares (down from an original offering plan of over 17.31 million ADS) at $11 per ADS (below its original $13-$15 per ADS offering range), for a total IPO take of around $152.4 million. The company has received VC backing from the Softbank Asia Infrastructure Fund, and originally filed for its IPO on April 2. www.shanda.com.cn
NuVasive Inc., a San Diego-based medical device company focused on the surgical treatment of spinal disorders, will begin trading on the Nasdaq under ticker symbol NUVA. The company yesterday priced 6.5 million shares of common stock at $11 per share (low end of its $11-$13 per share offering range), for a total IPO take of $71.5 million. The company has raised over $73 million in VC funding since its 1997 inception, including a $9.8 million infusion in 2003 at a post-money valuation of approximately $131 million. Significant shareholders include William Blair Capital Partners, Kleiner Perkins Caufield & Byers, Enterprise Partners, Domain Associates and A.M. Pappas & Associates. www.nuvasive.com
The National Venture Capital Association‘s board of directors yesterday unanimously elected Jim Breyer as its chairman for the coming year. Breyer is a managing partner with Accel Partners, and succeeds Jeffrey Harris, managing director with Warburg Pincus. The NVCA also named eight directors who each will serve four-year terms: Peter Barris of New Enterprise Associates; Michael Cronin of Weston Presidio; Joanna Rees Gallanter, of Venture Strategy Partners; Robert Ketterson of Fidelity Ventures; Mark Klopp of Eastman Chemical; Gilman Louie of In-Q-Tel; Ted Schlein of Kleiner Perkins Caufield & Byers; and Chad Waite of OVP Venture Partners.
NetEffect Inc., an Austin, Texas-based fables semiconductor company formerly known as Banderacom, has raised $22 million in Series A recap funding. TL Ventures led the deal, and was joined by fellow new investors Granite Ventures, TI Ventures and Duchossois Technology Partners. Return backers included Austin Ventures, JatoTech Ventures and Infinity Capital. The company now has raised around $66 million in total VC funding since its 1999 inception, including a $35 million Series B deal in 2001 at a post-money valuation of approximately $88 million.
Neil Goldschmidt, former governor of Oregon and prospective chairman of Portland General Electric, has resigned after admitting to a sexual relationship with a 14-year-old girl during the 1970’s. Goldschmidt had been recruited for the PGE post by Texas Pacific Group, which is in the process of buying PGE for approximately $2.35 billion from Enron Corp. The deal already has received confirmation from Enron’s creditors, although it is unclear how Goldschmidt’s departure will effect the final transaction, if at all.
Numeric Investors LP, a Cambridge, Mass.-based investment firm, has agreed to a recapitalization led by TA Associates. As part of the proposed deal, Numeric’s original financial partners – including Strategic Investment Group – will sell their full interest in the firm. Certain company employees will own approximately half of Numeric when the recap is completed. TA Associates will provide both equity and mezzanine capital for the deal, with senior financing being arranged by J.P. Morgan Securities Inc. Putnam Novell NBF Securities is advising Numeric on the deal, while Foley Hoag is providing legal counsel. TA Associates is receiving legal advice from Goodwin Proctor. www.numeric.com
Spinal Kinetics, a Redwood City, Calif-based developer of new products for spinal surgery, has raised $10 million in Series A funding. Investors included BA Venture Partners, DeNovo Ventures and HLM Venture Partners. www.spinalkinetics.com
Pure Networks Inc., a Seattle-based provider of home networking software, has raised $7 million in Series A funding. Mayfield led the deal, and was joined by seed backer Ignition Partners. www.purenetworks.com
Micro Power Electronics Inc., a Hillsboro, Ore.-based provider of battery packs for computer hardware, has raised $9 million in new VC funding from Sierra Ventures and Silicon Valley Bank. Ridge Capital Partners continues as an investor in Micro Power, and the company was advised by Cascadia Capital on the transaction. www.micro-power.com
ON24 Inc., a San Francisco-based provider of enterprise Web-cast and multimedia communications solutions, has raised $3.3 million in Series E funding. Return backers included U.S. Venture Partners, Canaan Partners and Rho Management. The company now has raised around $40 million in total VC funding since its 1998 inception. www.on24.com
Lexia Learning Systems Inc., a Lincoln, Mass.-based provider of reading skills and cognitive software, has received a $2 million venture capital investment from Albert and Katherine Merck of Lexington, Mass.
Simpler Networks Inc., a Montreal-based telecom equipment manufacturer, has raised US$15.5 million in Series A recap funding. Highland Capital Partners and Kodiak Venture Partners co-led the deal, and were joined by BCE Capital, Solidarity Fund QFL and Innovatech Montreal. As part of the financing, Jean-Luc Abaziou of Highland and Dave Furneaux of Kodiak have joined the Simpler board of directors. Simpler Networks had previously raised over $27 million in VC funding since its 1998 inception. www.simplernetworks.com
Sensory Networks Inc., a Palo Alto, Calif.-based provider of hardware acceleration technology for network security applications, has raised $6 million in Series B funding. JAFCO Investments Asia led the deal, and was joined by return backers Technology Venture Partners and DB Capital Partners Ericsson- Deutsche Technology Fund. www.sensorynetworks.com
Maax Inc. (TSX: MXA), a Quebec, Canada-based maker of bathroom fixtures, spas and kitchen cabinets, has received shareholder approval for a Cdn$640 million (approx. US$484 million) buyout by J.W. Childs Associates, Borealis Private Equity LP and the Ontario Municipal Employees’ Retirement System. Shareholders will receive Cdn$22.50 per share of outstanding common stock.
Mimi’s Café Inc., a Tustin, Calif.-based restaurant operator, has filed to raise $85 million via an IPO of common stock on the Nasdaq under proposed ticker symbol MIMI. The company lists Saunders Karp & Megrue as its controlling shareholder. www.mimiscafe.com
Ness Technologies Inc., a Tel Aviv, Israel-based provider of IT services, has filed to raise $150 million via an IPO of common stock on the Nasdaq under proposed ticker symbol NSTC. Significant shareholders include Warburg Pincus, G.L.Y. High-Tech Investments Inc. and Velston Pte. Ltd. www.ness.com
Eye Care Centers of America Inc., a San Antonio-based optical retail store operator, has filed to raise $375 million via an IPO of income units (IUs). No stock exchange or ticker symbol information has been released. The company was recapped in 1998, led by affiliates of Thomas H. Lee Partners. www.ecca.com
Stereotaxis Inc., a St. Louis-based provider of cardiology instrument control systems, has filed to raise $115 million via an IPO of common stock on the Nasdaq under proposed ticker symbol STXS. The company has raised over $115 million of VC funding since its 1990 inception, including a $16 million infusion earlier this year at a post-money valuation of approximately $250 million. Significant Stereotaxis shareholders include Sanderling Ventures, Alafi Capital Co., EGS Healthcare, Gateway Ventures, Advent International, CID Equity Partners and Ampersand Ventures. www.stereotaxis.com
Borden Chemical Inc., a Columbus, Ohio-based maker of resins, adhesives and binders for the global forest products and industrial markets, has filed to raise $200 million via an IPO of common stock on the NYSE under proposed ticker symbol BCI. Kohlberg Kravis Roberts & Co. acquired Borden Chemical in 1995. The company is privately-held, but has issued publicly-traded bonds, and therefore has filed certain financial reports with the SEC. www.bordenchemical.com
Luc Vandevelde reportedly will step down today as chairman of UK retailer Marks & Spencer, after poor company performance and widespread criticism that he has spent too much time in his managing director role with private equity firm Change Capital Partners.
Ian Finley has left his principal post with Longworth Venture Partners, in order to become chief marketing officer of Formation Systems Inc., a Southborough, Mass.-based provider of product development software for manufacturers. www.formationsystems.com
The Shawmark Group launched today as a Middleburg, Va.-based turnaround and private equity firm focused on the federal defense contracting community. www.theshawmarkgroup.com
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