Recently Announced Venture Capital Deals

Issuer Category Round # Amount (M) Lead Investors
Altus Pharmaceuticals Inc. Cambridge, Mass. Develops drugs focused on focused on gastrointestinal and metabolic diseases. Company has secured more than $100M in VC funding since its 1993 inception, including a $50M Series B in late 2001 at a PMV of about $76M. Biotech C $51.0 Warburg Pincus (led), U.S. Venture Partners, Nomura Phase4 Ventures, BankInvest, CMEA Ventures, Clariden Bank.
Plextronics Inc. Pittsburgh Makes conductive polymers. Company has raised $4.6M since 2002. Biotech B $3.4 Smithfield Trust Co. (led), Innovation Works, Pennsylvania Department of Community and Economic Development, angel investors.
Plexxikon Inc. Berkeley, Calif. Operates a research drug company. Funding increases Series B to $46M. Biotech B $15.0 Yamanouchi Ventures Corp., NIF Ventures, Advanced Technology Ventures, A.M. Pappas & Associates, Alta Partners, CW Ventures, GIMV, Walden International.
Cradle Technologies Inc. Mountain View, Calif. Produces a microprocessor platform for stream processing applications. Company has raised more than $83M since 2000, including a $9.5M infusion in 2001 at a PMV of $54M. Investor Growth led the round with $7M. Chips E $12.0 Investor Growth Capital (led), Charter Venture Capital, East Gate Capital Management, Prodea, NeoCarta Ventures, Smart Technology Ventures.
Integrated Materials Inc. San Jose, Calif. Makes products for semiconductor diffusion processes. Chips B $8.5 Alloy Ventures, Labrador Ventures, Rocket Ventures.
KeyEye Communications Inc. Sacramento, Calif. Chip design company develops receivers. Company has raised more than $21M since 2002 Chips B $15.0 Menlo Ventures (led), American River Ventures, Blueprint Ventures.
Tacit Networks Inc. South Plainfield, N.J. Provides remote office IT solutions. Investor CTTV is the the VC arm of ChevronTexaco. Company has raised about $24M since its 2000 inception. See story, page 10. Comm B $16.9 JPMorgan Partners (led), CTTV Investment, Canaan Partners, RRE Ventures, SAS Investors.
MessageOne Inc. Austin, Texas Develops email software. Email C-1 $11.0 QuestMark Partners (led), RRE Ventures, Impact Venture Partners, StarVest Partners.
Plaxo Inc. Mountain View, Calif. Provides email contact management software. Company has raised about $19M since 2002. Email C $7.0 Cisco Systems Inc., Sequoia Capital, Globespan Ventures, angel investors.
Disc Dynamics Eden Prairie, Minn. Develops polymner disc technology for backs. Med Tech D $24.0 Affinity Capital Management, Brightstone Capital, Pequot Capital Management, St. Paul Venture Capital.
Evalve Inc. Redwood City, Calif. Provides medical devices for the endovascular repair of cardiac valves. Guidant’s investment includes a $15M infusion, plus additional investments based on Evalve achieving certain milestones. Company has raised more than $57M since 1997, including a $15.9M Series B in 2001 at a PMV of $36M. Med Tech C $35.0 Guidant Corp. (led), New Enterprise Associates, Delphi Ventures, St. Paul Venture Capital, Three Arch Partners, Cutlass Capital, ABS Ventures.
GI Dynamics Inc. Newton, Mass. Medican device company focused on obesity. Jonathan Osgood of Cutlass Capital joins the board. Med Tech B $12.0 Cutlass Capital (led), Advanced Technology Ventures, Angel Healthcare Investors, Catalyst Health & Technology Partners, Domain Associates, Polaris Venture Partners, Seedling Enterprises.
Swissray International Inc. Elizabeth, N.J. Makes X-ray equipment for radiological applications. Company recived a $5M infusion last November. Med Tech B $12.5 3i Group, Audax Group, Commonwealth Capital Ventures.
NeoPhotonics Inc. San Jose, Calif. Nano-materials maker. Deal is a recap for the company, which was spun out 18 months ago. See story, page 1. Nano A $45.0 Viventures Partners, Institutional Venture Partners, Draper Fisher Jurvetson, ATA Ventures, Rockport Capital Partners, Harris & Harris Group, Ventana Global Capital, Linkmore Ltd., Alps Information Technology Fund, Oak Investment Partners.
E-Security Inc. Vienna, Va. Provides security management software and services. Company has raised more than $35M, including a $10M infusion in 2002 at a PMV of $30M. Security C $5.0 Fidelity Ventures, FTVentures, Advanced Technology Ventures, Updata Partners, Knickerbocker.
Secure Software Inc. McLean, Va. Provides software security auditing services. Security A $5.3 Charles River Ventures, Valhalla Partners.
DecisionPoint Software San Mateo, Calif. Provides financial performance management software. See story, page 7. Software B $5.0 Battery Ventures.
Epiance Corp. Herndon, Va. Provides business process improvement software. Company has raised more than $13M since 1999 and will relocate to Milipitas, Calif., in June. Software B $7.5 Norwest Venture Partners (led), Outlook Ventures.
Golden Gate Technology Inc. San Jose, Calif. Provides electronic design software. Carl Showalter of Lightspeed and John Hall of Horizon joined the board. Software A $9.0 Lightspeed Venture Partners, Horizon Ventures.
GroundWork Open Source Solutions Inc. Oakland, Calif. Provides open source IT management solutions. See story, page 3. Software A $3.0 Canaan Partners.
INEA Corp. Toronto Provides financial performance management software. Kevin Talbot of RBC joins the board. Software B $7.5 EdgeStone Capital Partners, Apax Partners, RBC Technology Ventures.
ItemField Inc. San Mateo, Calif. Makes enterprise software. Warren Weiss, general partner at Foundation, joins the board. Company raised $4M last year. Software B $13.5 Foundation Capital (led), Accel Partners, Evergreen Partners, Fourteam, Gemini Israel Funds.
ManageStar Inc. Walnut Creek, Calif. Provides delivery management software and services. Company has raised more than $35M since its 1999 inception, including an early stage $8.5M infusion in 2000 at a PMV of $23M. Software E $12.0 Canaan Partners (led), Foundation Capital, Dominion Ventures, Charter Venture Capital.
Paisley Consulting Kokato, Minn. Provides business accountability software. This is company’s first institutional round of funding since its 1995 inception. Software A $10.0 Insight Venture Partners.
Tealeaf Technology Inc. San Francisco Provides business analytics software. Company has raised more $44M since 1999. Software D $8.0 SAP, Matrix Partners, Bay Partners, Foundation Capital.
Millennial Net Inc. Cambridge, Mass. Provides wireless mesh networking systems. Investor BCE is the VC arm of Bell Canada. Company has riased about $21M to date. Wireless B $15.0 BCE Capital (led), General Catalyst Partners, Globespan Capital Partners, Kodiak Venture Partners.