What follows are seven VC deals culled from recent Regulation D filings with the SEC (all original format, not revised format). They have not been otherwise disclosed: Paratek Microwave Inc., a Columbia, Md.-based provider of adaptive RF front-end component solutions for mobile wireless applications, has raised $20 million in Series E funding, according to a regulatory filing. Listed shareholders include Polaris Venture Partners, Novak Biddle Venture Partners, Morgenthaler, Investor AB, STMicroelectronics and ABS Ventures. The company previously raised over $118 million since 1999. www.paratek.com ExtendMedia Corp., a Newton, Mass.-based provider of online video distribution software and services, has raised $10 million in Series C funding, according to a regulatory filing. Return backers include Atlas Venture, Venrock Associates and TVM. The company had previously raised
2 min read · 01 December 2008
With deal flow down to a trickle, investors are turning their attention to the secondaries debt market
4 min read · 01 December 2008
2 min read · 30 November 2008
2 min read · 28 November 2008
* 10 retailers who might not live to see 2009. * BCE Plan B. * Atlas Hedged * Morning call: U.S. futures slip on consumer and energy worries, European shares down at mid-day, Nikkei and Hong Kong both rise to finish with weekly gains. * "Bailout" is Merriam-Webster's word of the year. * Apple has most everything on sale today, but the iPhone and MacBook Pro are full-price. * TARP has lots of problems, including a lack of staffers to manage it. * Buy a toaster, get a free bank.
1 min read · 28 November 2008
Hudson Clean Energy Partners, a private equity firm formed last year by alternative energy bankers from Goldman Sachs, has been hit with a lawsuit by wind power giant Renewable Energy Systems Ltd. The complaint was filed in New Jersey District Court, and includes allegations of trade secret misappropriation and inducing, aiding and assisting breach of fiduciary duty. At issue is Hudson’s July hiring of Mike O’Neill, who had been second-in-command at RES and a director on the company’s board. According to the complaint: For several months before O’Neill gave notice to RES, he was actually serving in part as Hudson’s top-level “inside man” within RES, helping Hudson develop its competitive venture, working on numerous business planning and other documents for Hudson, and inevitably providing to Hudson the benefit of RES’ proprietary, trade secret and confidential information. If RES had not discovered that O’Neill was secretly helping Hudson to develop its competitive venture while remaining in the employ of RES, and thereafter commenced an investigation, it is unknown for how much longer Hudson would have continued to use him in this manner. The “competitive venture” to which RES refers is Element Power, a global platform focused on utility-scale wind and solar energy development. O’Neill was officially hired to launch
3 min read · 26 November 2008
2 min read · 26 November 2008
* The China Dubai Fund was launched earlier this year, as a private equity platform that would invest Gulf region monies into Chinese companies. Only problem is that the Gulf is running dry. * Could noncompete clauses be enforced against laid-off employees? Maybe in Massachusetts. * GM employees blocked from buying GM shares. Surreal. Speaking of which: Someone yesterday suggested that the Big 3 automakers become employee-owned, thus giving them incentive to get their pension liabilities in line. Really not a bad idea. * Morning call: U.S. futures point lower, banks bash European shares, Nikkei slips and Hong Kong rises. * Microsoft's Don Dodge has a report from yesterday's New England Venture Capital Summit. * Could synthetic CDOs actually save the banking system, rather than destroy it?
1 min read · 26 November 2008
1 min read · 26 November 2008
Genstar Capital today announced that it has helped launch MidCap Financial LLC, a new commercial finance company that will focus on middle-market lending to the healthcare industry. The new company will be run by the former senior managers of Merrill Lynch Capital Healthcare Finance, and has secured $500 million in equity commitments from Genstar, Lee Equity Partners and Moelis Capital Partners. So we’ve got 5 questions for Ryan Clark, a Genstar principal who helped lead the deal. 1. Is this a healthcare or financial services play? Clark: It’s both. Over 50% of our investments have been in the healthcare and life sciences area, which is where we got to meet the MidCap management team. They’ve worked on the leveraged lending side with us for years, on deals like OnCure Medical. When GE said it was buying Merrill Lynch Capital, we approached the team and said
2 min read · 25 November 2008
