PE Week Wire: Friday, August 29, 2008

Nothing much to say this morning, which is certain to disappoint the 62 of you (out of 45,000+) who are actually at work (no, checking your Blackberry from the beach does not count). There’s just very little going on, although I’d expect a few negative nuggets to float out near day’s end. Like some canceled IPOs, bankruptcies, etc. Always good to disclose such things when no one’s paying attention – like how the Red Sox once raised ticket prices on the same Sunday that the Patriots were playing in the Super Bowl.

It is worth noting that a whole bunch of you wrote in yesterday about the IVP/Photobucket situation, and it’s clear that we have no consensus. We do, on the other hand, have a bunch of new points brought to the fore. You can read a bunch of them here, and chime in with your own two cents. Oh, and it also looks like Mitt Romney won’t be McCain’s number two, which should be prompting a giant sigh of relief throughout the private equisphere (except for those folks hoping to parlay their relationships into government jobs). Anyway, onto some links from peHUB:

peHUB Across America II

We’re less than a month away from the next round of peHUB Shindigs, and more than 300 of you have already gotten tickets. We expect sellouts, so get yours today.

Tickets cost just $10, with proceeds going to a local charity that will be voted on by event attendees. Here’s the info:

• Denver

Tuesday, Sept. 23

The Wynkoop Brewing Co.

• San Francisco

Wednesday, Sept. 24

Pete’s Tavern (across from AT&T Park)

• Seattle

Thursday, Sept. 25

The Chapel Bar

Crazy kudos to regional sponsor Square 1 Bank, which is now one of my all-time favorite banks. Also, I encourage you to do some business with our outstanding local sponsors: Headwaters MB and the Rocky Mountain Venture Capital Association in Denver; Goodwin Procter and Gunderson Dettmer in San Francisco; and Cascadia Capital in Seattle.

Top Three

AVA Solar, a Ft. Collins, Colo.-based thin-film photovoltaic module maker, has raised $104 million in second-round funding. DCM led the round, and was joined by Technology Partners, GLG Partners, Bohemian Cos. and return backers like Invus LP. The company plans to use the funds to finish building its first production facility in Longmont, Colo., which it says will have the capacity to produce 200 megawatts of PV modules each year.

The Quadrangle Group has opted against matching Microsoft’s $486 million bid to buy Greenfield Online, owner of European price comparison shopping site Quadrangle had originally offered $15.50 per share, but was bested by a $17.50 per share offer from the Seattle software giant (previously referred to as just a “strategic buyer”). Quadrangle will receive a $5 million breakup fee.

Lehman Brothers is looking to cut around 1,200 jobs in a new round of layoffs, which would be approximately 5% of its workforce. It already has laid off 4,000 employees so far this year.

VC Deals

Glaukos Corp., a Laguna Hills, Calif.-based developer of devices for the treatment of glaucoma, has raised $35 million in Series D funding, according to a regulatory filing. OrbiMed Advisors was joined by return backers Frazier Healthcare Ventures, InterWest Partners, Domain Associates, Fjord Ventures, Montreaux Equity Partners and Versant Ventures. The company had previously raised around $53 million since 2001., a San Mateo, Calif.-based online speed dating service, has raised $6 million in Series B funding from return backer Menlo Ventures. It had raised a $2.6 million Series A round last year.

Ngmoco, a San Francisco-based publisher of games for the iPhone, has raisedapproximately $5.6million in Series A funding, according to a regulatory filing. Kleiner Perkins Caufield & Byers led the round, with Maples Investments also participating. The deal was announced a few weeks ago, but with an undisclosed dollar amount.

Webcarzz Inc., a San Francisco–based developer and publisher of multiplayer online games, has raised $4 million in Series A funding led by Meakem Becker Venture Capital.

Nanosolar, a San Jose, Calif.-based maker of solar panels, has raised $300 million in new private equity funding. The round closed in March, and included participation from AES Corp., The Carlyle Group, EDS, Energy Capital Partners, Riverstone Holdings, EDF Renewables, Lone Pine Capital, the Skoll Foundation, Omidyar Network and return backers GLG Partners, Beck Energy, and Grazia Equity.

Buyout Deals

First Reserve Corp. and Schlumberger Ltd. have completed their take-private acquisition of Saxon Energy Services Inc., a Canadian oilfield services company. The deal was valued at approximately C$596 million, or C$7 per share.

Kinder Morgan Energy Partners has acquired two pipeline systems from Knight Inc. for approximately $116 million. This includes a one-third stake in the Express-Platte crude oil pipeline systems that run from Alberta to Illinois, and a jet fuel pipeline that serves the Vancouver airport.

Weinberg & Bell Group of Cleveland has sponsored a leveraged recap of Carl’s Patio Inc., a Coconut Creek, Fla.-based retailer of luxury outdoor furniture and accessories. TriState Capital Bank and The PrivateBank and Trust Co. provided senior financing, while Brown Gibbons Lang & Co. advised Carl’s Patio. No pricing terms were disclosed.

PE Exits

Adaptec Inc. (Nasdaq: ADPT) has agreed to acquire Aristos Logic Corp., a Foothill Ranch, Calif.-based provider of RAID storage processing solutions, for approximately $41 million in cash. Aristos Logic has raised around $100 million in total VC funding since its 2000 inception, from firms like JPMorgan Partners, TPG Ventures, Woodside Fund, QTV Capital, Seagate Technology, Infineon Technologies, Emulex Corp., EMC Corp.

Watermill Ventures has sold PFI LLC to DXP Enterprises (Nasdaq: DPXE) for approximately $65 million. PFI makes fasteners and fastening tools under the name Vertex.

Firms & Funds

The California State Teachers’ Retirement System disclosed 18 new fund commitments made in 2008, worth over $2 billion.

Prism VentureWorks is raising its sixth fund with a $275 million target.

Human Resources

Daniel Waterhouse is leaving 3i Group, where is he a sector partner focused on digital media and technology opportunities. He said in an email that he’d be “resurfacing shortly with another venture capital firm.” Waterhouse joined 3i at the beginning of 2006, after having spent six years in Yahoo’s corporate development department.

Rich Novak, former COO of chief operating officer of Laboratory Corp. of America (NYSE: LH), has joined Linden LLC as an operating partner. Linden is a Chicago-based mid-market buyout firm focused on the healthcare sector.

Kalpana Morparia has joined J.P.Morgan Asia Pacific as CEO of Indian operations. She currently serves as vice chairwoman of ICICI Group’s insurance, asset management and securities companies.

In Memoriam

Paul Murin, president of Chicago-based investment bank David A. Noyes & Co., passed away last week after a sudden heart attack. He had originally joined the firm in 1968, 20 years after his father had. Paul is survived by his wife Suzanne, son Paul III and daughter Amy. The family requests that any memorials be contributed to the Infant Welfare Society of Chicago.