peHUB Wire: Monday, April 5, 2010

It’s the beginning of April, which means that a bunch of first-year MBA candidates are freaking out about not having summer internships lined up yet. But we’re here to help, with our annual Desperate Interns Drive.

This is a lot like the Internship Rodeo from November, except that it’s later in the game for both employers and employees. So if your firm is looking to hire summer interns from the current crop of first-year MBA candidates, please drop me a note at (you also can just hit “reply” to this email).

All postings will be available at peHUB, and can include as much or little information as you’d like to provide. Minimums are firm type (VC, LBO, I-Bank, etc.) and job location. If you’d like to keep your firm identity anonymous, just be sure to let me know.

There is no fee for this service, although there probably should be…

A! ddendum #1: If you are among the desperate MBAs, please do not email me your CV, photograph or any other such information. When the postings are ready, I’ll be sure to let you know (probably early next week).

Addendum #2: The Desperate Interns Drive is only for summer internships. If you want to hire someone for a fulltime position, please use our Careers board. Postings cost just $99 each and can be purchased online with a credit card.

*** Silver Spring Networks is expected to file its IPO registration any day now, in what could become the VC industry’s longest cleantech homerun to date. If and when that happens, a lot of folks might forget how most of Sand H! ill Road basically shunned the company back in 2005 and 2006, when initial backer Foundation Capital was seeking a follow-on investor. Seems that VC sheep eyes glazed over once the word “utility” was uttered.

Foundation, of course, stuck by Silver Spring and eventually lured peers like Kleiner Perkins, Google Ventures and Northgate Capital.

I hear VCs talk a lot about the value of syndicates, and also from entrepreneurs who get VC interest that is subject to another firm’s participation. Might be worth remembering that sometimes it’s okay to go it alone…

Top Three

Nautic Partners has agreed to sell Medegen, a Scottsdale, Ariz.-based developer of infusion therapy solutions, to CareFusion Corp. (NYSE: CFN). The deal is valued at $225 million in cash.

Altheos Inc., a South San Francisco-based developer of small molecule drugs for unmet medical needs, has raised $20 million in Series A funding. Bay City Capital led the round, and was joined by Novo AS, Canaan Partners, Life Science Angels and Atheneos Capital. The company is initially focusing on compounds for glaucoma.

Wilbur Ross said yesterday that he is willing to commit up to £500 million to support Virgin Mon! ey’s bid to acquire the branch network of RBS. He also said he has invested $100 million into Virgin Money, with which he teamed in 2007 on a failed bid to buy Northern Rock.

VC Deals

Selecta Biosciences Inc., a Watertown, Mass.-based biopharma company focused on the development of immunomodulatory nanoparticles, has raised $15 million in Series C funding. OrbiMed Advisors led the round, and was joined by return backers Polaris Venture Partners, Flagship Ventures, NanoDimension and Leukon Investments. The company previously raised $17.4 million.

Sakti3 Inc., an Ann Arbor, Mich.-based developer of lithium-ion batteries, has raised $7 million in Series B funding. Beringea was joined on the deal by return backer Khosla Ventures.

Tiny Speck! , a San Francisco-based online gaming startup started by Flickr co-founder Stewart Butterfield, has raised $5 million in Series A funding, as first reported by GigaOm. Accel Partners led the round, and was joined by Andreessen Horowitz. It previously raised $1.5 million in seed funding.

LearnVest Inc., operator of a personal finance website for women, has raised $4.5 million in Series A funding. Accel Partners led the round, and was joined by seed backers Richmond Management, Rose Tech Ventures and members of Circle Financial Group.

Money Workout Ltd., a UK-based company that purchases and generates mortgage inquiries that it matches with available mo! rtgage products, has raised £1.52 million in VC funding from Octopu s Ventures.

NearVerse, a Philadelphia-based mobile networking startup, has raised $1 million in seed funding from Meakem Becker Venture Capital. NearVerse co-founder Vic Singh is a former associate with RRE Ventures.

L2C Inc., an Atlanta-based provider of consumer risk evaluation and identification solutions, has raised an undisclosed amount of Series A funding. The round was co-led by QED Investors and McGovern Enterprises.

Toura, a New York-based provider of mobile tour applications, has raised $1.5 million in seed funding from individual angels.

Re! flexis Inc., a Dedham, Mass.-based provider of a retail management execution platform, has raised $3 million in venture debt funding from Velocity Financial Group.

Buyouts Deals

Alinda Capital Partners reportedly has paid $505 million to acquire NorTex Gas Storage, operator of two natural gas storage facilities in Texas, from Falcon Gas Storage, a portfolio company of Arcapita.

The Carlyle Group’s planned $1 billion deal to acquire a 15.5% stake in Taiwan Mobile (T: 3045) has hit a regulatory hurdle that could preclude completion by a June 30 deadline.

CLSA Capital Partners has invested $24 million into Indian microfinance group Equitas Micro Finance India Private Ltd., in exchange for a minority stake.

Crestview Partners and MidOcean Partners have agreed to acquire a combined 42% equity position in Insight Communications Company Inc., the nation’s ninth-largest cable operator. Sellers include The Carlyle Group, which will retain a 42% equity stake.

Egeria has completed its acquisition of AEGON’s Dutch funeral insurance business for €212 million. Egeria is a Dutch investment group.

Energy Investors Funds and NTE Energy LLC have formed a joined venture to develop, build and operate large-scale hybrid renewable energy facilities in the U.S. No financial terms were disclosed.

Extended Stay, a bankrupt budget hotel chain, reportedly favors a planned takeover bid by Centerbridge Partners and Paulson & Co., over a rival offer from a group led by Starwood Capital Group.

GE Energy Financial Services has invested $150 million for a 30% stake in a liquefied natural gas receiving terminal under construction in Mississippi. The seller was Crest Group.

Lee Equity Partners has acquired Vancouver, Wash.-based pizza chain Papa Murphy’s from Charlesbank Capital Partners. No financial terms were disclosed.

SkillSoft PLC (Nasdaq: SKIL) has received a sweetened buyout offer from a consortium that includes Advent International, Bain Capital and Berkshire Partners. The new bid is $11.25 per American depository share, which would value the e-learning softwar! e maker at around $1.2 billion. The original offer was $10.80 per ADS.

Sun Capital Partners has acquired certain assets of 3D Entertainment Group Ltd., a UK-based operator of late night bars targeting the 25 to 40 year old market. No financial terms were disclosed for the deal, which was done via a prepackaged bankruptcy.

PE-Backed IPOs

Beceem Communications, a Santa Clara, Calif.-based provider of mobile WiMAX chipsets, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol BECM, with J.P. Morgan and Barclays Capital serving as co-lead underwriters. The company reports $43 million in 2009 revenue, compared to nearly $14 million in 2008. Beceem Communications has raised around $110 million in VC funding since 2003, from Intel Capital (20.3% pre-IPO stake), Walden International (16.3%), Global Catalyst Partners (16.3%), Khosla Ventures (5.9%), NEC, KTB Ventures, Mitsui, Motorola and Samsung.

Qlik Technologies Inc., a Radnor, Penn.-based provider of business analytics software, has filed for a $100 million IPO. The company plans to trade on the Nasdaq under ticker symbol QLIK, with Morgan Stanley, Citi and J.P. Morgan serving as co-lead underwriters. The company reports around $157 million in 2009 revenue, compared to $118 million in 2008. Its 2009 net income was $6.86 million. Shareholders include Accel Partners (26.7% pre-IPO stake), Jerusalem Venture Partners (25.4%) and Stiftelsen Industrifonden (10.1%).

PE-Backed M&A

GeoDigm Corp., a portfolio company of Welsh, Carson, Anderson & Stowe, has agreed to acquire National Dentex Corp. (Nasdaq: NADX), an owner and operator of dental laboratories in North America. The deal is valued at nearly $98 million, or $17 per share (70% premium to last Thursday’s closing price).

Groeb Farms Inc., a portfolio company of Horizon Partners, has acquired Miller’s American Honey Inc., a Colton, Calif.-based honey producer. No financial terms were disclosed. Houlihan Smith & Co. advised Miller’s American Honey on the deal.

PE Exits

Google has acquired Episodic, a provider of online video content management solutions. No financial terms were disclosed. Episodic had raised an undisclosed amount of VC funding from Granite Ventures.

Omninet Capital has completed its $200 million sale of PWP Industries, a manufacturer of amorphous polyethylene terephthalate) disposable products, to Pactiv Corp. (NYSE: PTV).

Firms & Funds

Crystal Financial has launched as a new commercial finance company that will originate and underwrite secured term loans of up to $150 million. It has received an undisclosed amount of private equity funding from Soros Fund Management.

Human Resources

Primus Capital Funds has promoted Bill McManus to director. He joined the firm in 2008 as a principal, before which he was with Waud Capital Partners.