Private Equity Week Wire for Monday 5/21

LONDON — EON Communications, a new broadband communications company, today announces that it has secured £265 million of financing to build a state-of-the-art digital broadband communications network in South West Scotland and North West England, the largest remaining unbuilt service area in the UK. EON will be the first single source provider of bundled communications services including digital interactive television, fixed line voice telephony, Internet access and high speed data services in the region. EON?s planned system will allow the Company to serve approximately 325,000 residential customers and 25,000 business customers with direct on-net connections over the Company?s own hybrid-fibre-coax network. EON believes its £265 million of financing represents one of the largest start-up financings for a UK telecommunications company in 2001. Madison Dearborn Partners and TD Capital Communications Partners co-led the £110 million equity financing, with commitments of £57 million and £30 million respectively. Incepta Partners committed £13 million and GE Capital Telecom committed £10 million. TD Securities and the Bank of Scotland arranged syndicated debt financing of £155 million. CEA International Ltd acted as financial advisor to EON.

SIMI VALLEY, CA — Celetron International Ltd., a leadingelectronic and optical manufacturing services (EMS and OMS) provider,announcedtoday that it has raised $48 million in growth capital from a group ofinvestors that includes New Enterprise Associates, Golden Gate Capital,BaringAsia Private Equity Fund II, Alta Partners and a strategic corporateinvestor.

WALTHAM, MA — FlightTime, a global provider of air-charter services, today announced it has raised $25 million in its second round of funding, an indication that investors seeFlightTime as a successful company increasing the charter market. FlightTime has created innovative travel products that businesses and individuals use as alternatives to commercial airline service and aircraft ownership. The round was led by Amerland Holdings Corporation, of the Latsis Group, a diversified multinational conglomerate with interests in the business aviationindustry, while Southeast Interactive Technology Funds, Axxon Capital, Covestco-Seteura, LLC and BancBoston Ventures–the four firms that participated in lastyear’s first round–also participated. To date, FlightTime has received a total of $35 million in outside investment. FlightTime, founded in 1985, first soughtoutside investment last year so that it could invest in new technologies and products.

MUNICH & BOSTON — Techno Venture Management, the German-U.S. venture capital firm, announces a first closing of TVM V Life Science Ventures at ? 70 million. TVM started raising its fifth generation of venture capital earlier this year. This generation consists for the first time of two industry specific fund entities. TVM V Life Science Ventures is a dedicated life science fund and TVM V Information Technology is a dedicated information technology and telecommunications fund. Following a new industry specific concept, the fund consists of two legal entities that are dedicated to TVM´s core investment areas: Information and Communications Technology and the Life Sciences. This fund structure offers a higher degree of flexibility to investors. Both funds are domiciled in Munich, denominated in euros and will invest internationally. Major investment geographies will be Germany, other selected European countries and the United States. Like in recent funds a major focus of future investment activity will be the creation of transatlantic businesses. While fundraising for TVM V Life Science Ventures is continuing, TVM V IT initiated pre-marketing quite recently and targets a first closing in the third quarter of 2001. This slightly different fund raising schedule is dictated by expectations regarding investment speed and allocated capital in TVM IV, the firm´s previous investment fund. TVM´s two specialist industry teams will pool synergies and tackle biological convergence opportunities in collaboration with each other.

SAN DIEGO ? NuVasive Inc., a privately held medical device company that designs, manufactures and markets minimally invasive spine surgery systems, today announced the completion of its equity round of financing for $29.3 million. William Blair Capital Partners VII, a private equity investment fund affiliated with Chicago investment bank William Blair & Company, L.L.C. led the financing. Also participating were Sofinov, Societe Financiere d’Innovation, A.M. Pappas & Associates, and RS Coinvestment Fund, L.L.C. Existing investors Kleiner Perkins Caufield & Byers, Enterprise Partners and Domain Associates, L.L.C. also invested in the round. The proceeds will primarily be used to support the recent product launch of the Company’s minimally invasive spine surgical products, and to continue to enhance the current systems.

SEATTLE — ViAir Inc., a mobile applications management and services delivery platform provider for wireless carriers, today announced it has secured more than $15 million in its second round of financing. Spectrum Equity Investors, a leading venture capital firm focused exclusively on the communications industry, led the round. 3i, Mercury Interactive (Nasdaq: MERQ), and repeat investor The Barksdale Group joined the round. ViAir also announced the appointment of Victor E. Parker to its board of directors. Parker is a general partner at Spectrum.

SCOTTS VALLEY, CA — Antrim Design Systems, nc., the mixed-signal solutions company, announced that they have closed Series D financing with iVisionary. Antrim provides mixed-signal intellectual property (IP), tools and services to the consumer electronics, communications and multimedia industries. (This is one of four announcements dated today regarding Antrim Series D financing.) iVisionary was instrumental in paving the way for other Series D financing from Antrim customers Matsushita and Mitsubishi and others.

LANCASTER, PA — Growth Capital, a private venture capital investment firm that assists companies that display tremendous potential for becoming dynamic, successful enterprises, today announced the appointment of Mr. Richard (Rich) A. Bidgood as Executive Vice President for the group. Prior to joining Growth Capital, Mr. Bidgood was Vice President and Senior Portfolio Manager for First Union National Bank where he has worked since 1983. He had previously held various management roles within the bank’s commercial lending function, and has been involved in advising small businesses with financial management for many years.

SANTA CLARA, CA — Rivio Inc. has announced it has raised $12 million in its fourth external financing round. Investors involved in this round represent strategic partners, distribution partners and venture capital firms, including Accenture Technology Ventures, Bank of America, Opportunity Capital Partners and SOFTBANK Venture Capital.

BOSTON & MENLO PARK, CA –TA Associates, a leading private equity firm, today announced the completion of a $40 million investment in Lawson Software. Based in St. Paul, Minn., Lawson Software is a leading provider of integrated e-business solutions to services sector industries. The financing will provide further support for the company’s future expansion. St. Paul Venture Capital also participated in the financing.