Deal Round-up 01/02/02

Mortal Mans Inn takes cash injection for pub purchase; VCs invest in US wireless multimedia firm; $4.25m injection for Digital Fuel Technologies.

Mortal Mans Inn takes cash injection for pub purchase

Sovereign Capital has invested an undisclosed amount into Mortal Mans Inns (MMI), a country pub group. This is Sovereign’s fifth investment and takes the total committed to the group to £5m. This latest round of investment was completed in order to provide MMI with the necessary funding for further pub acquisitions.

Sovereign Capital originally backed MMI in October 1998 when it provided expansion capital to the company. Sovereign Capital is an independent UK private equity fund manager focussed on investing in mid-market UK companies. The firm has some £175m of funds under management and is in the final stages of raising its 3rd fund Sovereign Capital Limited Partnership III which is expected to close at approximately £130m.

VCs invest in US wireless multimedia firm

Venture capitalists T-Venture, Sun Microsystems, Texas Instruments and Intec have invested $16m in US company Eyematic, a developer of visual communication technology for mobile and fixed network applications. The money raised will be used to continue product development, sales and marketing and working capital.

The round was led by previous Eyematic investor T-Venture (the corporate venture capital unit of Deutsche Telekom) and included new investors Sun Microsystems, Texas Instruments and Intec. T-Venture has offices in Germany, the US and Singapore and manages a fund of E500m.

$4.25m injection for Digital Fuel Technologies

Digital Fuel Technologies, a software house based in Jerusalem, has taken $4.25m of money from a group of investors led by Apropos IT Ventures, joined by current investors Israel Seed Partners and Shlomo Kramer. Betsy Atkins, a private investor, also participated in this round. The round will remain open for additional investments for the next 90 days.

Dr. David Schwartz, principal of Apropos IT Ventures and editor of the Journal of Internet Research will join the board of Digital Fuel following the new investment.