San Jose, Calif.-based network equipment maker
The venture partnership with CDB will in such Chinese businesses as information technology, health care and communications.
The agreement includes an agreement with
Cisco previously agreed to invest $17 million in Alibaba as part of the Chinese company’s planned IPO in Hong Kong that is expected to raise up to $1.5 billion. Alibaba says it will use the money to expand abroad.
The firm last week also announced that it led the $10 million Series B investment in Vitrue Inc., a provider of video-centric social media services (see Week in deals, page 11). Vitrue is one of five companies in Dace’s portfolio.
Clarus plans new life sciences fund
The firm is expected to begin marketing in the next month or two.
Clarus spun-out from Boston-based
Indian firm targets $150M
VenturEast
, an Indian firm previously known as APIDC Venture Capital, is targeting $150 million for a new fund that will focus on early stage and growth stage technology opportunities. The Hyderabad-based firm already has secured nearly $100 million in commitments for Hyderabad-based.
The fund will focus on the digital divide and the needs small and medium-sized enterprises. The core team of the fund includes founder and Managing Partner Sarath Naru and General Partners Raghu Mendu and Siddhartha Das.
Bay City nears $500M goal
The San Francisco-based health care investor raised $350 million for its fourth fund in 2004, according to Thomson Financial (publisher of PE Week). The filing shows that there were 55 investors. It did not list the names of general or limited partners.
VentureWire reported that the firm has already raised $500 million, citing an interview with firm founder Fred Craves.
Wasatch holds first close
Wasatch Venture Fund
This is its largest fund to date. It raised $58 million for its third fund in 2001, according to Thomson Financial. The general partners are Todd Stevens, Kent Madsen and Eleftherios “Nick” Efstratis. The filing did not list the number or names of limited partners.