Return to search

Private Equity Week Wire for Friday 10/20

? TUSTIN, CA — POWERHiring.com has received $1.6 million in seed financing to bring its time-tested POWER Hiring(SM) method to hiring managers and recruiters via the Internet. This method — which Lou Adler has perfected over 25 years to attract, assess and hire the top 10 percent of job candidates — has been revealed in nationwide workshops plus a book and award-winning tapes. Financing allows POWERHiring.com to develop its on-line hiring system, called the Personal Hiring Coach(SM), build the company’s infrastructure and promote the company’s off-line and on-line services.

? DUBLIN, IRELAND — Massana Inc., an innovator of “smart math in silicon” for broadband digital communications, announced today that it has secured $16.5 million in funding from a global venture capital syndicate led by the Private Equity arm of Dresdner Kleinwort Benson, a leading investment bank. Massana will apply the second-round funding to deploy the company’s Gigabit Ethernet products into the market. Additionally, the company will develop new solutions for emerging wired and wireless broadband communications markets based on Massana’s core technologies.Joining Dresdner Kleinwort Benson in the second round of financing are JAFCO Co., Ltd., Tokyo, Japan; as well as first-round supporters ACT VentureCapital of Dublin, Ireland; BancBoston Capital, Boston, Mass.; and VisionCapital, Menlo Park, Calif. These world-class venture capitalistspreviously have funded such notable high-tech start-up companies as NortelNetworks, SAQQARA Systems, Monterey Networks, Brocade Communications Systems, BCO Technologies and Kymata.

MCLEAN, VA — PRIMUS Telecommunications Group,Incorporated (Nasdaq: PRTL), a global facilities-based Total Service Provideroffering data, Internet, e-commerce, web-hosting, enhanced applications andvoice services on a bundled basis, today announced the receipt of theremaining $25 million convertible debt investment from an existing strategicpartner. The partner provided PRIMUS with the first $25 million tranche inMarch 2000, at which time the conversion price was set for the aggregate $50million investment.

If you are interested in having your release run on Private Equity Week Wire, please send your release to Private Equity Wire for publication.