Private Equity
Off & Away said Wednesday that it had received follow-on funding of $2 million led by Madrona Venture Group. Seattle-based Off & Away is a luxury hotel auction site. Madrona is a VC firm, also based in Seattle.
4 min read · 20 October 2010
International chemicals group Solvay, Korea Venture Investment Corp (KVIC) and AJU IB Investment have invested EUR26 million ($35.9 million) in the Korea Advanced Materials Fund. The fund will invest in renewable energy, printed electronics, clean technologies and green chemistry. Solvay will invest EUR 13 million ($17.9 million) and KVIC and AJU IB Investment will each put in EUR 6.5 million ($8.9 million). The Fund will be managed by AJU IB Investment.
3 min read · 20 October 2010
Hayneedle said Tuesday that Chairman Doug Nielsen, and Carter Cast, president and CEO, are switching executive management roles. Nielson, who co-founded Hayneedle, will become president and CEO while Cast will become chairman. Hayneedle, of Omaha, is an online retailer of home furnishings and lifestyle products. The company is funded by Insight Venture Partners and Sequoia Capital.
3 min read · 19 October 2010
Gridsum Technology completed a Series A funding round led by Steamboat Ventures, a VC firm affiliated with Walt Disney Co. Gridsum is a Chinese provider of web, video and search analytics services.
3 min read · 18 October 2010
Syndax Pharmaceuticals Inc. received a U.K. patent for entinostat. The histone deacetylase inhibitor is in multiple Phase II clinical studies including advanced breast cancer, metastatic lung cancer and other cancer types. The patent issuance extends entinostat’s exclusivity to 2029. Syndax is a Waltham, Mass.-based drug company that holds rights to entinostat from Bayer Schering Pharma. It is backed by Domain Associates, MPM Capital, Avalon, Pappas and Forward Ventures.
3 min read · 15 October 2010
Halfpenny Technologies, which recently secured $2.6 million in VC funding, said Wednesday that it has appointed four healthcare executives to its management team. They are: Mitch Fry, executive vice president of business development; Daniel O’Brien, chief financial officer; Roger W. Newbury, senior vice president of sales; and Jim Sheils, vice president of sales. Blue Bell, Pa.-based Halfpenny is a health information exchange services provider.
4 min read · 13 October 2010
Burrill & Co. and Infinity Group formed a joint venture that will pursue life science investment opportunities in China. The two firms plan to co-invest as equal partners. San Francisco-based Burrill plans to open its China headquarters in Hong Kong.
3 min read · 13 October 2010
Clustrix, which is backed Sequoia Capital and U.S. Venture Partners, said Monday that both John Listwin and Jonathan Heiliger have joined its board. Listwin, who is also an investor of Clustrix, was executive VP of Cisco and is the founder and chairman of Canary Foundation. Heiliger is the VP of technical operations at Facebook. San Franisco-based Clustrix provides clustered database systems.
2 min read · 12 October 2010
MPM Capital opened a Midwest office in Kansas City, Kansas. The Boston, Mass.-based life sciences venture capital firm has $2.3 billion of committed capital under management. Managing Director Steven St. Peter said, “(the) city office gives us better access to the rapidly expanding fields of animal health, crop science and eventually clean energy."
3 min read · 08 October 2010
AppNexus has raised $50 million in Series C funding. Investors in the round include Microsoft, a long time customer. All of AppNexus's Series B VC backers including Venrock, Kodiak Venture Partners and First Round Capital invested in the C round. AppNexus is a New York-based maker of a virtualized cloud computing platform for online advertising applications.
3 min read · 05 October 2010
