Recently Announced Venture Capital Deals

Issuer Category Round # Amount (M) Lead Investors
GlycoFi Inc. Lebanon, N.H. The biopharmaceutical company has now raised over $20M in venture funding, including a $7M infusion in early 2002, at a PMV of about $142M. Fletcher Spaght led the most recent round. Biotech C $10.0 Fletcher Spaght Ventures, Borealis Ventures, Village Ventures, Boston Millennia Partners, Polaris Ventures, Schroder Ventures Life Sciences.
Medisyn Technologies Wayzata, Minn. The biotech company received the funding as a bridge loan. Sherpa had been a previous investor. Biotech B $1.5 Sherpa Partners.
Portola Pharmaceuticals So. San Francisco The company is developing drugs for cardiovascular diseases. As part of the deal, Jeff Bird of Sutter Hill, Russell Hirsch of Prospect, Nick Galakatos of MPM Capital, Alan Frazier of Frazier Healthcare and Michael Bigham of Abingworth have joined the Portola board. See story, page 5. Biotech A $21.0 Sutter Hill Ventures, Prospect Ventures, MPM Capital, Abingworth Management, Frazier Healthcare Ventures.
StarGen Technologies Malborough, Mass. The fabless semiiconductor company, which makes switch fabric technology for the communications industry, did not disclose details from the deal. But it has received about $44M in funding to date. Chips NA $0.0 Intel Capital
N2 Broadband Duluth, Ga. The company, which is developing technology for deploying interactive TV services, has raised $27M to date. Rick Ganong, a partner at Tudor, has joined N2’sboard. Comm C $10.0 Tudor Ventures, Highland Capital Partner.
MedAptus Inc. Boston The company, which provides point-of-care solutions for physicians, has named vice chairman Dennis Mitchell its new CEO. The company has now raised over $22M. Health Care D $5.0 Boston Millennia Partners.
IntelliDOT Corp. San Diego The company provides patient and drug information barcodes and handheld scanning-devices used by medical professionals. Med Tech B $15.0 Menlo Ventures, American River Ventures, Shoreline Ventures.
Volcano Therapeutics Rancho Cordova, Calif. The company, which makes invasive cardiac diagnostic medical devices, will use the funding for an acquisition. Ferrer, Freeman provided more than $20M through debt and equity while Silicon Valley Bank and Western Technology Investment provided $10M in secured debt. Med Tech C $50.0 Domain Associates, Johnson & Johnson Development Corp., Medtronic Inc., Neomed Corp. Ltd., Mayo Medical Ventures, Ferrer, Freeman & Co., Silicon Valley Bank, Western Technology Investment.
EM4 Inc. Burlington, Mass. The company, which provides contract design and manufacturing services for photonics and integrated optics, previously raised $16M in a Series A at a PMV of $31M. Optics B $8.0 Baker Capital, Rustic Canyon Group, CapMan Ventures.
Logistics Health Inc. La Crosse, Wis. Company provides medical readiness, emergency preparedness and homeland security solutions. Security A $72.5 TA Associates.
Vontu Inc. San Francisco The company, which provides security and surveillance software, has raised $15M to date. Security B $10.0 U.S. Venture Partners, Benchmark Capital, Venrock Associates.
PODS Inc. Clearwater, Fla. The company provides mobile storage and moving services for residential and commercial customers. PODS has also received an additional $3M of private equity from unnamed investors, and it secured a $25M senior credit facility through Congress Financial Corp. Storage A $15.0 Lafayette Investment Fund, Hunt Private Equity Group.
Akonix Systems Inc. San Diego Akonix provides enterprise communications management software and has raised over $21M to date. Software B $11.0 Menlo Ventures, Mission Ventures, Palomar Ventures, Winward Ventures
Blue Agave Software Inc. Cambridge, Mass. Blue Agave provides supply chain event software. Sigma and Flagship were both return investors. Software B $6.0 Sigma Partners, Flagship Ventures.
Bluespec Inc. Waltham, Mass. The company provides electronic design automation tools. This first-round funding was at a PMV of $7.62M. Software A $4.0 Atlas Venture, North Bridge Ventures.
Nervana Inc. Bellevue, Wash. The company has developed a search engine that lets an organization scan its own internal documents. Nervana is led by Nosa Omoigui, a former Microsoft Corp. engineer. Software A $800.0 Oki Developments, WestRiver Capital.
PowerSteering Software Inc. Cambridge, Mass. PowerSteering provides enterprise program management. It has raised just under $9M since its inception in 1998. Software D $5.0 Advent International.
Private Business Inc. Brentwood, Tenn. The company, which provides cash flow and inventory management solutions, went public in 1999. This $20M funding was a private placement. Software NA $20.0 The Lightyear Fund.
Red Bend Software Framingham, Mass. The company provides software delivery solutions. Pitango led the deal. Software C $3.6 Pitango Venture Capital, Carmel Ventures. Infinity Capital.
Turbine Entertainment Software Corp. Westwood, Mass. The company, which provides subscription entertainment services for video games online was expected to announce the deal today. Also, Bob Davis from Highland and Steve Arnold from Polaris have joined the board. Software A $18.0 Highland Capital Partners, Polaris Venture Partners and other investors.