peHUB Wire: Tuesday, May 12, 2009

A few quick notes on yesterday’s Field of Dreams event, in which a group of 16 peHUB readers played softball at Fenway Park, to benefit a summer jobs program here in Boston (ABCD SummerWorks).

First, a HUGE thanks to everyone who donated and participated. The generosity of peHUB readers is a consistent joy, with more than $35k raised for various organizations since the beginning of last year.

Second, kudos to my corporate overlords at Thomson Reuters, who kicked in to buy shirts for our team (we would have looked a bit ragtag without them).

Third, the Narragansett Brewing Co. emailed yesterday morning, inviting all peHUB players and our “fans” over to The Baseball Tavern for a complimentary post-game celebration. Extremely kind of them (and Tavern owner Jimmy), because we were very thirsty. I now consider Narragensett Lager to be the official brew of peHUB.

Finally: We won, beating TD BankNorth by a final score of 15-13. I think each of our players got at least one hit, we had some outstanding fielding plays and yours truly missed the cycle by a homer (plus had the game-winning hit – not to brag or anything). Just a magical day. If you were on the fence about participating this year, I urge you to participate next year. It completely lived up to the grandest of expectations.

Photos have begun coming in from players and their families, and I’ll get a bunch up on peHUB later today. For now, here’s a shot of us just outside the Sox dugout, after winning the game. Haven’t quite stopped smiling…

Top Three

Huntsman Corp. (NYSE: HUN) said that a Texas court has ruled in favor of Huntsman being allowed to proceed with its multibillion dollar lawsuit against Credi! t Suisse and Deutsche Bank , related to Huntsman’s failed takeover by Apollo Management portfolio company Hexion Specialty Chemicals.

NovImmune SA, a ! Geneva, Switzerland-based drug company focused on immune-related diseases, inflammation and organ transplantation, has raised CHF 62.5 million (USD 54.8 million) in third-round funding. BZ Bank led the financing, which NovImmune will use to regain control of its two lead compounds from MerckSerono, which a NovImmune representative says is “undergoing restructuring and refocusing of it pipeline strategy.” NovImmune previously raised over $46 million from BZ Bank, Pictet Private Equity, Lombard Odier Darier Hentsch, Novartis Venture Fund and Aravis Venture.

Bank of America (NYSE: BAC) reporte dly sold around $7.3 billion worth of shares in China Construction Bank to an investor group that includes Temasek Holdings, Hopu Investment Management Corp. and a unit of China Life Insurance Co.

VC Deals

HauteLook, a members-only online shopping club, has raised $10 million in the first tranche of a funding round led by Insight Venture Partners. Insight managing director Jeff Lieberman will join the HauteLook board of directors.

OLX Inc., a Craigslist clone that focuses on free online classifieds focused on markets outside the U.S., has raised $5 million in third-round funding from Nexus India Capital. It had previously raised $23.5 million from General Catalyst Partners, Bessemer Venture Partners, Founders Fund and DN Capital.

CerviLenz Inc., a Cleveland-based maker of disposable devices used to predict the risk of preterm birth in pregnant women, has raised $4 million in first-round funding. Arboretum Ventures led the round, and was joined by Chrysalis Ventures.

Medialets, a New York-based ad technology platform for mobile applications, has raised $4 million in Series A funding. Foundry Group led the round, and was joined by DFJ Gotham and angel investor Bobby Yazdani.

PlexPress, a Los Altos, Calif.-based developer of gene expression analysis technology, has raised $2.75 million in seed funding from Conor Technology Fund I, Veraventure, Helsinki University Fund and VTT.

Sustainable Energy Technologies Ltd. (TSX: STG), a Calgary, Alberta-based developer of solar inverter technology, has raised a minimum of C$7.6 million of new funding led by Doughty Hanson.

Buyout Deals

The PFM Group, a Philadelphia-based financial and investment advisor to state governments, local governments and nonprofits, has raised an undisclosed amount of private equity funding from ICV Capital Partners. Also investing equity was the Michigan Employees Retirement System Strategic Opportunity Fund LP.

SumTotal Systems Inc. (Nasdaq: SUMT) said a sweetened $146 million buyout offer from Vista Equity Partners is superior to a previously agreed-upon deal with Accel-KKR.

Wynnchurch Capital has agreed to acquire Sencorp, the parent company of Cincinnati-based toolmaker Senco Products. Under terms of the $41 million agreement, Sencorp will file for a pre-packaged Chapter 11 bankruptcy.

Howard Greene, co-founder of Amylin Pharmaceuticals Inc. (Nasdaq: AMLN) said that he will vote for a slate of directors put forth by dissident shareholders Carl Icahn and Eastbourne Capital.

John Kanas, former CEO of North Fork Bancorp, is part of a private equity consortium looking to buy BankUnited Financial Corp., according to Bloomberg. The group includes Carlyle Group, Blackstone Group, Centerbridge Capital Partners and WL Ross & Co. Other possible bidders include Goldman Sachs, TD Bank and J.C. Flowers & Co.

PE Exits

Positron Inc. has acquired Aktino Inc., an Irvine, Calif.-based provider of carrier Ethernet and broadband services over bonded copper. No financial terms were disclosed. Aktino had raised over $43 million in VC funding, from firms like Crosspoint Venture Partners, InnoCal Venture Capital, Foundation Capital, Silver Creek Ventures and Miramar Venture Partners.

SAP has acquired Clear Standards, a Sterling, Va.-based provider of enterprise software for measuring and mitigating greenhouse gas emissions. No financial terms were disclosed. Clear Standards had raised around $5 million in VC funding from Kinetic Ventures and Novak Biddle Venture Partners.

Velti (LSE:VEL) has acquired Ad Infuse, a San Francisco-based provider of personalized mobile advertising solutions. No financial terms were disclosed. Ad Infuse had raised around $18 million in VC funding, from firms like Storm Ventures, Velocity Interactive Group (f.k.a. ComVentures) and SoftBank Capital.

PE-Backed M&A

iYogi Inc., an India-based provider of remote technical support services, has acquired Clean Machine Inc., a Far Hills, N.J.-based provider of remotely administered PC security and performance management services. No financial terms were disclosed. iYogi has raised $12.6 million in VC funding from Canaan Partners, SAP Ventures and SVB India Capital.

Firms & Funds

J.C. Flowers & Co. reported a 56% year-end markdown on its second fund, according to LBO Wire.

KKR has set up a subsidiary in Dubai to focus on investment opportunities in the Middle East North Africa (MENA) region. The firm was granted license to operate out of the Dubai International Financial Centre.

Human Resources

Anand Jagannathan has joined Greenhill & Co. as a London-based managing director, leading the firm’s European infrastructure advisory practice. He previously was head of global infrastructure for Dresdner Kleinwort. In related news, Rahul Mody will join Greenhill as an indfrastructure-focused principal. He also was last with Dresdner Kleinwort.

Steve Maxwell has joined executive search firm Kesic & Co., where he will help open a Boston office. He previously was a recruiting partner with Kodiak Venture Partners.