VCJ Staff

Senate Democrats Seek To Impose Higher Taxes On Investment Fund Managers

PE Firms Could Face “Asset Stripping” Restrictions; EU To Hold More Talks On AIFM Directive

Eddingpharm (Cayman) Inc. closed a $24 million Series B financing

Eddingpharm (Cayman) Inc. closed a $24 million Series B financing. The round was co-led by OrbiMed Advisors Caduceus Asia Partners Fund and Domain Associates. Sequoia Capital China Growth Fund also participated in the financing. Eddingpharm is a specialty pharmaceutical marketing company focused on China. It plans to use the capital to in-licensing of drugs from suppliers, to co-develop prescription drugs and to seek potential M&A opportunities.

Nando’s Group To Buy Clapham House Group; Both Already Backed By Capricorn Ventures

Penny Auction Solutions Gets $10M Equity Credit Line From Kodiak Capital Group

Penny Auction Solutions Inc. signed an agreement to receive a $10 miilion equity line of credit from Kodiak Capital Group LLC. Penny Auction plans to use the capital to establish operations and begin offering services early next year.

Astute Networks Gets Capital Investment From Tallwood Venture Capital

Astute Networks Inc. said it received a significant capital investment from Tallwood Venture Capital. Financial terms were not disclosed. The San Diego, Calif.-based provider of storage solutions for network applications plans to use the funding to expand its existing customer base and to secure additional design wins for its Advanced Telecommunications Computing Architecture storage products.

InstaMed Secures $6 Million in Growth Capital

InstaMed raised $6 million in growth capital. The financing came from existing investors who with this round have invested a total of $22 million. The Philadelphia, Pa.–based provider of a healthcare payments network and platform’s investors include Osage Partners, Ashby Point Capital, NJTC Venture Fund, U.S. Bank, N.A. and a private equity group in Newport Beach, Calif.

Bloomspot Closes a Series A Financing Round and Secures $9 Million

Bloomspot closed a Series A round of funding and secured $9 million. The round was led by Menlo Ventures. True Ventures and Harrison Metal participated in the financing. Other investors that took part in an initial seed round, which closed March 2009, include Silicon Valley executives Jeff Weiner, Erik Blachford and Brad Garlinghouse. Bloomspot is a flash sale service focused on luxury hotels, restaurants and spas.

Crosslink Capital Hires Eric Chin As A Partner

Crosslink Capital hired Eric Chin as a partner. Chin will focus on Internet, software and technology startups, investing in early stage and later stage companies. He previously worked as a general partner at Bay Partners. Crosslink Capital has more than $1.5 billion in capital under management.

Lantos Technologies Closes Series A Financing Round With $1.6 Million.

Lantos Technologies Inc. closed a Series A financing with $1.6 million. Catalyst Health Ventures led the round. Excel Venture Management and Mass Medical Angels also participated. Lantos Technologies is developing an intra-aural (ear) three-dimensional scanner that would have applications in audio equipment such as hearing aids, earphones and noise-canceling devices.