peHUB Wire: Wednesday, November 18, 2009

Top Three

Norwest Venture Partners has closed its eleventh fund with $1.2 billion in capital commitments, from sole LP Wells Fargo.

Fortinet Inc., a Sunnyvale, Calif.-based network security provider, has raised around $156.3 million in its IPO. The company priced 12 million common shares at $12.50 per share ($9-$11 range), which gave it an initial market cap of nearly $805 milion. The company will trade on the Nasdaq under ticker symbol FTNT, while Morgan Stanley, J.P. Morgan and Deutsche Bank Securities served as co-lead underwriters. Fortinet has raised around $83 million in VC funding since 2002, from firms like Redpoint Ventures, Meritech Capital Partners, Acorn Campus Ventures, DCM, Defta Partners and WI Harper Group.

IPWireless, a San Francisco-based provider of 3GPP technology, has raised $15.5 million in Series A funding. Spark Capital led the round, with Lockheed-Martin Corp. and Northrup Grumann Corp. also participating. IPWireless had raised over $155 million in VC funding before being acquired for around $100 million in 2007 by NextWave Wireless Inc. (Nasdaq: WAVE). The company’s founders bought IPWireless back last year.

VC Deals

Muzicall, a London-based provider of ringback tone services, has raised €9 million in new VC funding. Orkos Capital, Veddis Ventures and GP Bullhound were joined by return backers BlueRun Ventures and Thule.

Ready Financial, a Boise, Idah-based provider of prepaid debt cards and online bill payment services, has raised $7 million in Series B funding led by Rockbridge Growth Equity, a firm formed by Quicken Loans founder Dan Gilbert. Flybridge Capital Partners also participated, with partner Jeff Bussgang joining the Ready Financial board of directors.

Active Storage Inc., a Torrance! , Calif.-based, has raised an undisclosed amount of Series A funding. Intel Capital led the round, and was joined by Mission Ventures and Valhalla Partners.

Joyent Inc., a Sausalito, Calif.-based developer of cloud computing technology, has raised an undisclosed amount of VC funding from Intel Capital.

UNX, a Los Angeles-based provider of trading technology solutions, has secured an undisclosed amount of new private funding. Goldman Sachs and Vernon & Park Capital were joined by undisclosed existing investors.

Buyouts Deals

US Infrastructure and Metalmark Capital have partnered to acquire a majority interest in the Hilltop Resort Gathering System, which extends through Robertson and Leon Counties, Texas. The seller is Gastar Exploration Ltd. (AMEX: GST). No financial terms were disclosed.

PE-Backed M&A

Berry Plastics Corp., an Evansville, Ind.-based maker of plastic packaging products, has agreed to acquire Denmark-based Superfos Packaging Inc., for approximately $82 million. Berry Plastics is a portfolio company of Apollo Management and Graham Partners.

Stephenson’s Rental Services, a Toronto-based tool and equipment rental company, has acquired the general equipment rental assets of Oxford Builder’s Supplies, an Ontario-based division of EllisDon Construction Ltd.No financial terms were disclosed. Stephenson’s is a portfolio company of EdgeStone Capital Partners.

Firms & Funds

CIMB Standard next year plans to raise $300 million for a new Southeast Asia infrastructure fund, and increase the target size of its Islamic infrastructure fund to $500 million. It also expects to open new offices in both Indonesia and Turkey.

Human Resources

Fred Hassan has joined Warburg Pincus as a senior advisor, focused on the healthcare sector. He had served as chairman and CEO of Schering-Plough Corp. from 2003 until it was acquired earlier this month by Merck & Co.

Braemar Energy Ventures has promoted Jiong Ma to the position of partner. She joined Braemar’s Boston office in 2007, and has worked on such deals as Laser Light Engines, Convey Computer and Powervation.

Susan Potok Harrison has joined Alternative Invest! ment Management LLC as director of investor relations. She previously was director of investor relations with Quinlan Private.

Lazard Ltd. has named Kenneth Jacobs as its new CEO, succeeding the late Bruce Wasserstein. Jacobs has been with the firm for more than two decades, becoming deputy chairman in 2002.