Private Equity
Megan Minich has joined Silicon Valley Bank as head of global channel solutions. Minich joins Silicon Valley from Wells Fargo Bank, where she most recently served as senior VP and head of commercial electronic office channel management for the wholesale internet solutions group. Santa Clara, Calif.-based SVB focuses on companies in the technology, life science, venture capital, private equity and premium wine industries
3 min read · 22 November 2010
The Securities and Exchange Commission will meet later on Friday to vote on a proposal that would require the registration of advisers to hedge funds and private equity funds with more than $150 million in assets under management, according to Reuters reported. Reuters reported the hedge fund industry players do not believe the rules will burdensome.
3 min read · 19 November 2010
CincyTech has participated in a $2 million venture round for NanoDetection Technology. CincyTech, a public-private venture development organization, invested $250,000 in NanoDetection, while Southern Ohio Creates Companies put in $100,000, according to a statement. NanoDetection Tech is a medical devices company that involved in the detection of specific genes, antibodies or pathogens within a biological or environmental sample. Because of the round, NanoDetection will move from Oak Ridge, Tenn. to Cincinnati where it will be led by former Union Springs Pharmaceuticals President Joel Ivers.
2 min read · 16 November 2010
Velocity Financial Group said Tuesday that it has closed a management led buyout of Velocity's business lines from Core Financial Holdings. Financial terms were not announced. American Capital, a publicly traded PE firm, owns a majority stake in Core Financial. Boston-based Velocity is a specialty finance company that serves both PE and VC companies. Parish Capital Advisors provided financing.
3 min read · 16 November 2010
General Electric Co. and its venture capital partners plan to invest $55 million in leading power grid technology companies as part of the $200 million “GE ecomagination Challenge.” The partners in this project include Emerald Technology Ventures (Zurich, Switzerland), Foundation Capital (Menlo Park, Calif.), Kleiner Perkins Caufield & Byers (Menlo Park, Calif.) and RockPort Capital Partners (Boston, Mass.).
9 min read · 16 November 2010
Sina Corp. launched a 200 million yuan ($30 million) fund. Reuters reported the capital is for developers to create applications for Twitter-like microblog, Weibo. The fund is supported by Sequoia Capital and IDG Capital. Sina is China's largest Internet portal web site.
2 min read · 16 November 2010
UNC Kenan-Flagler's student-run private equity fund held the final close of KFBSF Private Equity Fund II LP on Oct. 15, with $3.1 million in commitments. These students have a total of more than $5 million under management including its first investment vehicle. Investors in the two funds include Halifax Group, PNC Equity Fund, Hatteras Funds, Tryon Capital, Carrboro Capital, Plexus Capital, SV Life Sciences and others.
3 min read · 15 November 2010
Paul Ghaffari was named CIO of Vulcan Capital, which is the investment arm of Vulcan Inc. Ghaffari is a founding partner of FrontPoint Partners and was most recently a portfolio manager at Palatine Hill Partners. He will be responsible for managing Vulcan Capital's investment activities. Paul Allen, co-founder of Microsoft, started Vulcan Inc. in 1986 to manage his philanthropic and business endeavors. Vulcan Capital was formed in 2003 and has invested in Charter Communications and DreamWorks.
3 min read · 12 November 2010
Richard Casey, Square 1 Bank's founder, chairman and CEO, has passed away, according to a statement Thursday. Services for Casey will be held on Saturday. Square 1 Bank is a commercial bank that exclusively serves the financial needs of the VC community and entrepreneurs.
2 min read · 11 November 2010
Henry Kravis is not a rock star, but Bloomberg Television is giving him some rock-star treatment. Kravis, the co-founder of KKR, will be profiled tonight on “Bloomberg Game Changers” at 9:30 pm ET. The legendary investor won’t be on the show himself, but others, including John Mack, chairman and former CEO of Morgan Stanley, and Alan “Ace” Greenberg, former chairman of Bear Stearns, will talk about the LBO god.
1 min read · 11 November 2010
