The Institutional Limited Partners Association released an updated version of its Private Equity Principles along with the first of its five recommended Standardized Reporting Templates. ILPA is a nonprofit organization committed to serving institutional investors of private equity.
4 min read · 11 January 2011
Groupon expands in three new countries through the launch of Groupon India, Groupon Israel and Groupon South Africa. The Chicago-based operator of websites for organizing group actions was able to expand its local commercial platforms in India, Israel and South Africa through the purchase of daily deal sites SoSasta (http://www.sosasta.com), Grouper (http://www.grouper.co.il) and Twangoo (http://www.twangoo.co.za), respectively. Financial terms of the deals were not disclosed. Groupon is backed by Accel Partners, Battery Ventures LP and New Enterprise Associates Inc.
3 min read · 11 January 2011
Civitas Therapeutics Inc. secured $20 million for its Series A financing. Founding investor Longitude Capital, along with co-lead Canaan Partnersof Westport, Conn., participated in the round. Civitas is a Chelsea, Mass.-based biopharmaceutical company that develops transformative pulmonary delivery therapies. It plans to use proceeds to advance its lead program for treating patients with Parkinson’s disease through clinical proof-of-concept.
4 min read · 10 January 2011
Avalon Ventures of La Jolla, Calif., closed capital commitments of $200 million for its ninth and largest fund, Avalon Ventures IX LP. Fund IX was more than 33 percent oversubscribed compared to the original target of $150 million and virtually all institutional investors in the two preceding Avalon funds committed to the investment vehicle. Avalon Ventures plans to use the fund to continue making investments in early-stage, high tech / digital media and life science companies.
2 min read · 10 January 2011
Viridity Energy raised a Series B financing led by Braemar Energy Ventures of New York. Intel Capital of Santa Clara, Calif. became an investor in the Conshohocken, Pa.-based energy resource management company. Terms were not disclosed. The financing will allow Viridity to accelerate the commercial growth of its real-time dynamic demand management platform. Braemar’s Scott DePasquale will join Viridity’s board of director.
3 min read · 10 January 2011
Neuroptix Corp. closed the first tranche of its Series C funding round at about $4 million. The company plans to use the capital to continue clinical development of its diagnostic platform. The Acton, Mass.-based company that is developing a way to detect Alzheimer’s Disease early through a non-invasive eye test. Inventages Venture Capital GmbH of Switzerland led the investment, which will be funded in two tranches totaling about $8 million, is milestones are successful completed.
2 min read · 10 January 2011
Cato BioVentures’ Advanced Pain Remedies of North Carolina received a $3 million from the National Cancer Institute to develop its SP-SAP in end-stage cancer patients with intractable pain. Advance Pain plans to use the financing over the next three years to start a clinical program for SP-SAP. Cato BioVentures is the venture capital affiliate of Cato Research Ltd.
4 min read · 10 January 2011
Austin Ventures LP of Austin, Texas promoted Mike Dodd to partner and Scott Donaldson to principal. Dodd joined the firm in September 2008 and focuses on early and expansion-stage technology-enabled business and consumer services. Donaldson joined the firm in 2007 and focuses on platform acquisitions and growth equity.
3 min read · 10 January 2011
M8 Capital made a $4.2 million investment in SCHAD GmbH, which is a Hamburg, Germany-based mobile technology company. M8 Capital is a London, U.K.-based venture capital fund that exclusively invests in mobile technology. SCHAD GmbH is already backed by eCAPITAL entrepreneurial Partners AG.
5 min read · 10 January 2011
Orthocon Inc. promoted John J. Pacifico its president, chief executive officer and member of the board. Pacifico joined the Irvington, N.Y.-based therapeutics device company in 2007 to lead its corporate development and finance functions. Orthocon is backed by Bellevue Asset Management AG, Canaan Partners, ProQuest Investments and Rockport Venture Partners.
3 min read · 10 January 2011
