U.S. Venture Partners related stories
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- Solyndra Cleared for Bankruptcy Auction
Solar panel maker Solyndra has been cleared to begin a sale of the business. In a move criticized by some creditors as "rushed," the U.S. bankruptcy court approving a plan for an Oct. 27 auction of the business, Reuters reported Tuesday. The company, which received a $535 million loan guarantee from the federal government and raised more than $700 million in venture capital funding, filed for bankruptcy protection on Sept. 6. Solyndra was backed by Argonaut Ventures, Madrone Partners, U.S. Venture Partners, Rockport Capital Partners, CMEA Ventures and Redpoint Ventures.
- Yammer In Round Four
San Francisco-based Yammer, a provider of enterprise social networks has secured $17 million in its fourth round of funding, bringing its total financing to $57 million. The Social+Capital Partnership, a new fund established by former Facebook Vice President Chamath Palihapitiya, led the round with previous investors Charles River Ventures, Emergence Capital and U.S. Venture Partners also participating.
- CardioKinetix Seals $44M For Medical Devices
CardioKinetix, a medical device company developing transcatheter implants, has raised $44 million in a two-tranche Series E financing. New investors SV Life Sciences and New Leaf Venture Partners led the round, which included return backers including U.S. Venture Partners, J.P. Morgan Partners, H&Q Healthcare Investors and H&Q Life Sciences Investors. The company’s device, dubbed Parachute, is implanted into the left ventricle of the heart in a simple catheter lab procedure and is intended to treat patients with heart failure resulting from a myocardial infarction or heart attack.
- Simpirica Spine Nets $22M C Round
Norwest Venture Partners led a $22 million round in Simpirica Spine Inc., the developer of stabilization devices for the spine. Investors De Novo Ventures and U.S. Venture Partners also participated in the round. Simpirica was founded in 2006.
- 30 FBI Agents Search Solyndra Offices, Lawmakers Probe Solar Company's $535M Loan Guarantee
(Reuters) - FBI agents searched the offices of Solyndra on Thursday, the U.S. solar startup that received millions of dollars in federal loan guarantees before filing for bankruptcy this week. The search comes amid intensifying pressure on the Obama administration, which championed Solyndra as being at the forefront of solar technology when President Barack Obama visited the company's Fremont, Calif., facility in 2010. The FBI said it was searching for materials, including documents, but did not offer more specifics. "We are executing search warrants at Solyndra regarding ...
- Trunk Club Wraps Up $11M Series A
Chicago-based Trunk Club has raised $11 million in Series A financing from U.S. Venture Partners, Greycroft Partners, Apex Venture Partners and Anthos Capital. The company, which is launching a clothing service for men who don’t like to shop, will use the funds to develop its technology platform, add to its team of Style Experts, and market to new customers. With the service, customers receive a selection of options handpicked for them. They keep the items they like and send back the rest with a pre-paid shipping label.