From: venturewire@venturewire.com
To: jdasovic@enron.com
Date: 2000-09-07 06:48:00+00:00
Subject: VentureWire, Thursday, September 7, 2000

======================================================
        VENTUREWIRE --- Thursday, September 7, 2000
======================================================
           Private Company Business News
------ Published Daily by Technologic Partners -------
           http://technologicpartners.com
======================================================

Top Stories:

o Network Firm QoS Secures $100 Million in First Round
o Report: Chase Raising $5 Billion For Private Equity Fund
o Palm Forms Venture Unit and Earmarks $50 Million
o Metawave Buys Smart Antenna Firm Adaptive for $107 Million
o Sterling Venture Partners Secures $150 Million for New Fund
o NBC VP Named Partner and Director of NeoCarta Ventures

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Also in This Issue:

     New Money:
o Broadband Firm Net to Net Secures $15 Million in Round One
o Property Management Firm Realeum Has $15 Million Series A
o Fabless Semiconductor Firm Secures $8.2 Million in Round One
o Management App Firm Gets $5 Million of $8 Million Round One
o Net Insurance Firm InsuranceNoodle Gets $10 Million Series A
o Net Sports Technology Firm FitSense Gets Round One Funding
o Wireless Firm Vettro Raises $10 Million in First Round
o Wireless Technology Developer Has $1.5 Milllion First Round
o Auction Site for Travel Booking Gets $2.5 Million Round One
o B2B Security Firm NetCertainty Gets $3.8 Million Series A
o CRM Firm PackagingSlip.com Closes Series A Round
o Education Site iKnowthat.com Closes $2 Million Round One
o Efoodmanager Gets $1.3 Million More in First Round Funding
o Wirless Tech Firm Equinox Raises $4.4 Million in First Round
o Chip Firm SigmaTel Secures $24 Million in Funding
o Software Firm Sheer Networks Has $30 Million Second Round
o E-Services Firm eHotHouse Launches, Gets Over $20 Million
o Israeli Optical Firm Native Networks Gets $18 Million
o Mercari Technologies Closes $20 Million in Series C
o Applied Biosystems Invests $3 Million in Genomica
o B2B Healthcare Data Provider Raises $725,000 Mezz Round
o Harmonix Secures $3.5 Million Second Round from Softbank
o Internet Indirect Invests $3 Million in Broadband Firm Kast
o PC Maker Acer Invests in Electronics Marketplace e2open.com
o TechSys Takes Minority Stake in Technology Keiretsu
o VentureWorx Takes Stake in Search Engine SearchGenie.com
o Wireless Data Software Firm Netverk Scores $9.5 Million

     New Products:
o Giga Information's French Unit Goes Private with $4 Million
o Software Testing and Monitoring Firm Empirix Launches
o KnowToday Becomes Clerity Knowledge Exchanges

     New Deals:
o Pop.com Confirms Deal with Ifilm Off, Small Staff Retained

     M&A:
o Earful of Books Takes Majority Stake In Audiobookcafe.com
o BuildNet Acquires Home Plan Resource Company HomeStyles
o American Greetings Buys Information-by-e-mail Service Firm
o Digital Scent Developer, DigiScents, Buys SenseIT
o AmeriNet Group.com To Acquire WeCU.com for $1.5 Million

     New Directors:
o Two Ericsson Execs Join Wireless Firm TrustLink's Board
o INNX Picks Media Analyst Harold Vogel To Join Company Board
o Venture Capital Institution MerchantBanc Adds Three to Board
o Two Join Board of Equity Execution Services Firm NeoNet
o ZuluSports.com Names Former Nike Division Head to Board
o Telecom Entrepreneur Joins Clearwire Technologies Board

     New People:
o Ex-Hamilton Management Partner Now CEO & President of DIVA
o Peppers and Rogers Pick Former McKinsey Partner as Leader
o BenefitPort Names Healtheon/WebMD Exec To CEO Post
o Digital Content Firm WAM!NET Appoints President

     VC Fund News:
o Italian VC MyQube Opens Silicon Valley Office

     VC Personnel:
o AV Labs Names Former onQ Technology CEO as Venture Fellow
o EnerTech Capital Partners Names Ex-Varidigm CEO as Partner

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======= Top Stories =======

o Network Firm QoS Secures $100 Million in First Round

DUBLIN -- QoS Networks, which provides a network
for content delivery in a native IP environment,
said it raised $100 million in its first round of
funding. Warburg Pincus led the round, which included
GE Capital, Global Crossing, Lucent Technologies,
Signal Lake Venture Fund, and Soros Private Equity.
Warburg Pincus will have two seats on the company's
board of directors. The company will use the funding
for the further development of its network and for
sales and marketing. QoS Networks has developed
an Internet-enabled interface that enables users
to change bandwidth and prioritization quickly through
the desktop.
http://www.qosnetworks.net/
_____________________________________________

o Report: Chase Raising $5 Billion For Private Equity Fund

NEW YORK -- Chase Manhattan intends to raise up
to $5 billion for a new private equity fund according
to a report by the Wall Street Journal. The fund
will invest in venture capital, buyouts, and other
private equity deals in the U.S. and abroad. Earlier
this year Chase raised a $1 billion fund focusing
on equity investments in Asia. The new fund will
seek capital from outside investors, according to
the report, a departure from Chase Capital's usual
practice of investing funds from its parent bank.
http://www.chasecapital.com/
_____________________________________________

o Palm Forms Venture Unit and Earmarks $50 Million

SANTA CLARA, Calif. -- Palm, a provider of handheld
devices, said it formed Palm Ventures, which will
make strategic investments in companies that support
the Palm operating system and platform. Palm has
earmarked $50 million for the venture. Robert Hayes
has been named director of Palm Ventures, which
intends to make early stage investments in companies
that have completed at least one funding. Investments
will range from $1 million to $5 million and will
be made in a host of companies, including providers
of wireless content and services, handheld ASPs,
and makers of accessory devices. Companies funded
by Palm Ventures will also have the opportunity
to form other types of business relationships with Palm.
http://www.palm.com/
_____________________________________________

o Metawave Buys Smart Antenna Firm Adaptive for $107 Million

REDMOND, Wash. -- Metawave Communications, which
develops antenna technology for wireless carriers,
said it is acquiring Adaptive Telecom, which also
develops antenna technology. Under the terms of
the agreement, Adaptive Telecom shareholders will
receive 5.5 million shares of Metawave common stock.
On Wednesday, Metawave stock was down more than
a dollar to $19.6 a share, putting the value of
the acquisition at approximately $107.8 million.
Adaptive Technology is backed by August Capital.
http://www.metawave.com/
_____________________________________________

o Sterling Venture Partners Secures $150 Million for New Fund

BALTIMORE -- Sterling Venture Partners, a venture
capital affiliate of Sterling Capital, said it secured
$150 million from investors for its first fund.
The investors in the new fund include large U.S.
public pension plans, Deutsche Bank, T. Rowe Price,
and a number of chief executives from the mid-Atlantic
and Midwestern U.S. The fund will make early stage
investments of between $2 million and $10 million.
The new fund has led a $10 million round for TidePoint
and invested in Versient and Woodwind Communications.
Sterling Venture Partners said it may look to raise
another fund in 18 months.
http://www.sterlingcap.com/
_____________________________________________

o NBC VP Named Partner and Director of NeoCarta Ventures

NEW YORK -- NeoCarta Ventures said it named Peg
Murphy, former NBC vice president of business development,
as a partner and director of its New York office.
The firm said that under her direction the office
will concentrate its investments in new media, particularly
in digital, broadband, and Internet infrastucture
technologies and services. While at NBC Ms. Murphy
was responsible for investing in Internet companies
and managing its interactive TV group, investing
in companies including Tivo, Net2Phone, Mail.com,
Digital Island, Loudeye, Liveperson, i3 Mobile,
and Wink Communications.
http://www.neocarta.com/

======= New Money =======

o Broadband Firm Net to Net Secures $15 Million in Round One

PORTSMOUTH, N.H. -- Net to Net Technologies, a provider
of simplified IP broadband data and voice communication
technology, said it received $15 million in its
first round of financing. Summit Partners was the
sole investor for the round. The company will use
the funding to promote its IP DSL product line and
for continued expansion.
http://www.nettonettech.com/
_____________________________________________

o Property Management Firm Realeum Has $15 Million Series A

ALEXANDRIA, Va. -- AvalonBay Communities, United
Domnion Realty Trust, and Post Properties, all publicly
traded real estate firms, said they launched Realeum,
an online property management service that raised
$15 million in Series A funding. Realeum's investors
include Carlyle Venture Partners, Cohen & Steers,
through its Internet Realty Partners, Stichting
Pensioenfonds, through its affiliate ABP-US Investments,
and Venrock Associates. The company said it will
use the funding for software engineering, platform
deployment, development of customer care services,
and new product development. The company had previously
received $7 million in funding from its founding
consortium for product design, architecture, software
development, and testing. The company's initial
product, Jvelon, is a Web-based leasing, property
management, and asset optimization application that
manages the relationship between landlord and tenant.
Telephone 703-317-4736.
_____________________________________________

o Fabless Semiconductor Firm Secures $8.2 Million in Round One

AGOURA HILLS, Calif. -- Internet Machines, a fabless
semiconductor company that develops software and
services for data communications markets, said it
secured $8.2 million in its first round of funding.
Redpoint Ventures led the round, which included
other institutional and individual investors. Redpoint
Ventures founding partner John Walecka will join
the company's board of directors. The company will
use the funding for product development.
http://www.internetmachines.com/
_____________________________________________

o Management App Firm Gets $5 Million of $8 Million Round One

CAMBRIDGE, Mass. -- Bluesocket, which develops management
software for Bluetooth-enabled networks, said it
secured $5 million of its expected $8 million first
round of funding from St. Paul Venture Capital and
Osborn Capital. The round is still open and the
company is speaking with several venture capital
firms. Osborn Capital managing director Eric Janszen
will join the company's board of directors. The
company will use the funding for further product
development, recruiting additional management, sales
efforts for its new products, and forming partnerships.
http://www.bluesocket.com/
_____________________________________________

o Net Insurance Firm InsuranceNoodle Gets $10 Million Series A

CHICAGO -- InsuranceNoodle.com, an Internet-based
insurance broker for  small-business owners, said
it closed $10 million in its first round of funding
from sole investor Argonaut Private Equity Management.
The financing will be used for national expansion.
InsuranceNoodle.com offers comparative quotes and
fulfillment from a group of insurers, including
The Hartford, AIG, CNA, St. Paul, and Zurich U.S.
http://www.insurancenoodle.com/
_____________________________________________

o Net Sports Technology Firm FitSense Gets Round One Funding

WELLESLEY, Mass. -- FitSense Technology, a developer
of internet-linked sports and fitness monitors,
said it received an undisclosed amount of first-round
funding from Motorola and 2M Technology Ventures.
The financing will be used to launch and further
develop the company's products and services. The
company plans to launch its FitSense pace-distance
monitor in November.
http://www.fitsense.com/
_____________________________________________

o Wireless Firm Vettro Raises $10 Million in First Round

NEW YORK -- Vettro, a provider of wireless services,
said it has raised $10 million in its first round
of funding led by GreyLock and Sigma Partners. New
Things, a New York venture capital group, also participated
in the round. The company also announced Bill Helman
of Greylock and Bob Davoli of Sigma Partners have
taken seats on Vettro's board of directors. Vettro
was formerly called iQenergy.
http://www.vettro.com/
_____________________________________________

o Wireless Technology Developer Has $1.5 Milllion First Round

RESEARCH TRIANGLE PARK, N.C. -- Mi-Co, a developer
of handwriting recognition and transmission technologies
for wireless devices, said it raised $1.5 million
in its initial round of funding. The round was funded
by Renaissance Ventures, based in Richmond, Va.,
and individual investors. The company said it will
use the funding for further product development
and sales and marketing.
http://www.mi-corporation.com/
_____________________________________________

o Auction Site for Travel Booking Gets $2.5 Million Round One

BOCA RATON, Fla. -- Revelex.com, an online auction
site for the travel community, said it received
$2.5 million in its series A round of funding provided
by undisclosed individuals and private partnerships.
The funds will be used for technology development
and marketing. The company's hotel booking engine
will launch on September 20, with the car rentals,
airlines, and event ticketing services going live
by the end of the year.
http://www.revelex.com/
_____________________________________________

o B2B Security Firm NetCertainty Gets $3.8 Million Series A

ATLANTA -- Atlanta-based NetCertainty, which provides
digital identity hosting services to individuals
and organizations within the business-to-business
Internet marketplace, said it closed its Series
A round with a total of $3.8 million. Internet operating
company itemus led the round with $3 million and
individual investors provided the rest of the funding.
NetCertainty is still beta testing its product,
which is scheduled to launch September 20. The funding
will go towards product deployment and marketing.
http://www.netcertainty.com/
_____________________________________________

o CRM Firm PackagingSlip.com Closes Series A Round

BETHSEDA, Md. -- PackagingSlip.com, which provides
customer relationship management products and services
for online and catalog merchants, said it received
an undisclosed amount in its series A round of funding
led by Genesis Investment Partners. Other investors
remain undisclosed. The round will finance technology
and infrastructure development for the company's
public launch in mid-September.
http://www.packagingslip.com/
_____________________________________________

o Education Site iKnowthat.com Closes $2 Million Round One

PITTSBURGH -- iKnowthat.com, a children's educational
site, said it has raised $2 million in its first
round of funding from Draper Triangle Venture Funds
and a group of individual investors based in Pittsburgh.
The funding arrives in tandem with the launch of
the web site. iKnowthat.com was created by a team
of educators and animators led by Gary Kiliany,
the co-founder and creator of DynaVox Systems.
http://www.iknowthat.com/
_____________________________________________

o Efoodmanager Gets $1.3 Million More in First Round Funding

NEW YORK -- Efoodmanager, a European business-to-business
marketplace for the food industry, said it raised
an additional $1.3 million in first-round funding
from Technologie-Beteiligungs-Gesellschaft (tbg),
a subsidiary of Deutsche Ausgleichsbank. The company
said it will use the funding  from the government-related
investment firm to develop additional services.
The company said it will further develop its logistics
and insurance services with its business partners.
Tbg will not take a seat on the company's board
of directors. Tbg usually invests with a finance
partner as lead investor; in this case Atlas Ventures
led the first round of funding for efoodmanager
with $3.6 million.
http://www.efoodmanager.com/
_____________________________________________

o Wirless Tech Firm Equinox Raises $4.4 Million in First Round

LEXINGTON, Mass. -- Equinox Solutions, which develops
technology for wireless communications, said it
raised $4.375 million in its first institutional
round of funding from sole participant Meyer Duffy
Ventures. Meyer Duffy co-founder Donald Duffy and
partner John Mills will sit on the company's board
of directors. The company will use the funding for
further product development and expansion of its
product suite. Equinox Solutions develops software
products and services that enable users to access
computing environments using wireless devices.
http://www.equin.com/
_____________________________________________

o Chip Firm SigmaTel Secures $24 Million in Funding

AUSTIN, Texas -- SigmaTel, an Austin-based provider
of integrated circuits for digital consumer audio,
broadband communications, and wireless infrared,
said it secured $24 million in financing. Invesco
Private Capital led the round with $10 million.
Other investors in the round include Battery Ventures,
TeleSoft Partners, and CTI Limited.
http://www.sigmatel.com/
_____________________________________________

o Software Firm Sheer Networks Has $30 Million Second Round

SUNNYVALE, Calif. -- Sheer Networks, a provider
of service management software for public networks,
said it received $30 million in a second round of
venture capital financing from new investors JK&B
Capital, Jerusalem Venture Partners, and Ray Lane,
former Oracle President and COO. Previous investor
Rein Capital also contributed to the round. The
funds will be used for sales, marketing, and to
launch its product.
http://www.sheernetworks.com/
_____________________________________________

o E-Services Firm eHotHouse Launches, Gets Over $20 Million

NEW YORK -- Change Technology Partners and Marc
USA announced they have made a joint investment
of over $20 million in cash and stock to launch
eHotHouse, an interdisciplinary professional Internet
services firm focusing on e-commerce strategy, application
systems integration, and marketing services. Matthew
Ryan, the founder of Ryan Drossman/Marc USA, a national
advertising agency, will become the CEO of both
Change Technology and eHotHouse. The company said
it would announce several acquisitions within the
month. EHotHouse board members include: William
Avery, principal of FG II Ventures; Rick Kurnit,
partner at Frankfurt, Kurnit & Seltz; Andrew Clark,
founder of Clarknet and executive director of Verio;
and Robert Nielsen, group president, Estee Lauder.
Tony Bucci, the chairman and CEO of Marc USA, and
Michael Gleason, the chairman of Change Technology,
will also sit on the board.
http://www.ehothouse.com/
_____________________________________________

o Israeli Optical Firm Native Networks Gets $18 Million

PETAH TIKVA, Israel -- Native Networks, an Israel-based
company that develops technology for optical access
networks, said it completed a private placement
of $18.2 million. Soros Private Equity Partners,
Anschutz Investment, and Jerusalem Venture Partners
were among the funds participating in the placement.
The funding will go towards research and development
and marketing in Europe and the United States.
http://www.nativenetworks.com/
_____________________________________________

o Mercari Technologies Closes $20 Million in Series C

WASHINGTON -- Mercari Technologies, a provider of
merchandise and supply chain management technology,
said it received $20 million in a Series C round
of funding. The round was led by Baltimore-based
ABS Ventures, the venture capital arm of DB Alex
Brown, and North Bridge Venture Partners of Waltham,
Mass. North Bridge Venture Partners, Southeast Interactive
Technology Funds, and individual investors, including
Inktomi president and CEO David Peterschmidt, also
invested in the round.
http://www.mercaritech.com/
_____________________________________________

o Applied Biosystems Invests $3 Million in Genomica

FOSTER CITY, Calif. -- Applied Biosystems, a developer
of instrument-based systems, reagents, software,
and contract services for the life science and research
industry said it has invested $3 million in Genomica,
a genomics software company. Genomica will license
its genetic-analysis object module to Applied Biosystems
in a separate deal. The integration of the Genomica
software with Applied Biosystems' products would
enable the systems to store their genotyping results
in a common Oracle database, the companies said.
http://www.genomica.com/
_____________________________________________

o B2B Healthcare Data Provider Raises $725,000 Mezz Round

LONDON -- IntegriSys, a provider of Internet and
intranet-based decision support networks for physicians,
raised $725,000 in a mezzanine round of funding
from sole investor Billam. The company will use
the funding for partnership agreements, customer
acquisitions, and expanding its infrastructure.
IntegriSys raised $1.5 million in its previous round
of venture capital funding from MTI. IntegriSys
trades under the name Platinum Health.
http://www.platinumhealth.co.uk/
_____________________________________________

o Harmonix Secures $3.5 Million Second Round from Softbank

NORTH ANDOVER, Mass. -- Harmonix, a manufacturer
of wireless communication systems and components,
said it raised its second round of outside funding
from Softbank Networks, the Internet infrastructure
unit of Softbank. Softbank will have representation
on the company's board of directors. The company
will use the funding for further product development
and marketing. The company raised its first round
of funding from Japanese company Omron and is majority-owned
by its management. Harmonix manufactures antennas,
oscillators, transmitters, receivers, frequency
multipliers, detectors, isolators, and circulators.
http://www.hxi.com/
_____________________________________________

o Internet Indirect Invests $3 Million in Broadband Firm Kast

LONDON -- Internet Indirect, an early stage venture
capital investor, said it invested $3 million in
Kast Telecom Europe, a broadband services firm for
small and medium-sized businesses. The investment
was part of a $20 million round of funding. Kast
Telecom will use the funding to continue the roll
out of an intelligent data local exchange carrier
network and to develop broadband voice, data, and
application services for its customers. The company
has also entered into a EUR 100 million ($88 million)
debt facility agreement with J.P. Morgan.
http://www.kast-telecom.fr/
_____________________________________________

o PC Maker Acer Invests in Electronics Marketplace e2open.com

SAN JOSE, Calif. -- E2open.com, an Internet marketplace
for the electronics industry, said PC manufacturer
Acer has made an undisclosed investment in the company.
The company said it has raised $200 million in venture
capital from Crosspoint Venture Partners, Hitachi,
IBM, LG Electronics, Lucent Technologies, Nortel
Networks, Matsushita Electronic (Panasonic), Seagate
Technology, Solectron and Toshiba. Acer CIO Frachard
Lung will join former e2open CEO John Mumford, a
founding partner of Crosspoint, and Mark Holman,
the company president and CEO, on the board of directors.
Also serving on the board are Steve Ward, general
manager of industrial sector of IBM; Ho-Jin Hwang,
vice president and chief procurement officer of
LG Electronics; Jose Mejia, the vice president and
chief procurement officer of Lucent Technologies;
G. Andrea Botta, managing director of Morgan Stanley
Dean Witter; Richard Ricks, CIO of Nortel Networks;
Steve Luczo, the CEO of Seagate Technology; and
Joichi Nishimura, the chairman, CEO and president
of Solectron. Hitachi is also represented on the board.
http://www.e2open.com/
_____________________________________________

o TechSys Takes Minority Stake in Technology Keiretsu

LIVINGSTON, N.J. -- Publicly traded software and
Internet services provider TechSys said it has taken
a minority stake in Technology Keiretsu, a holding
company that operates a network of technology companies.
TechSys, the only institutional investor in the
company, invested with an undisclosed amount of
cash and shares of common stock. TechSys also has
the right to purchase an additional interest in
the company at a later date. Technology Keiretsu
is still majority-owned by members of its management.
Technology Keiretsu, which is also backed by outside
individual investors, holds Allaint Technologies
as its principal operating company.
http://www.allianttech.com/
_____________________________________________

o VentureWorx Takes Stake in Search Engine SearchGenie.com

EUGENE, Ore. -- Venture management consultants VentureWorx
said they have taken an undisclosed equity stake
in SearchGenie.com, an XML-based search engine with
wireless capabilities. VentureWorx will assist SearchGenie.com
with fund raising, developing business strategy,
recruiting personnel, and launching a public relations
campaign. SearchGenie.com's database may be accessed
by standard HTML Web pages and allows companies
to submit and customize information and images about
their Web site or business.
http://www.searchgenie.com/
_____________________________________________

o Wireless Data Software Firm Netverk Scores $9.5 Million

LONDON -- Netverk, a provider of wireless data software,
said it secured $9.5 million in a round of funding
led by Citicorp Capital Asia Limited. WestLB Panmure,
the investment banking arm of the WestLB Group,
co-led the round. Other investors include A & A
Actienbank and its subsidiary, the A & A Early Bird
Fund. The company will use the funding for R&D,
sales, and marketing. Netverk plans to expand its
operations in Europe, Asia and North America. The
first new offices will be in Denmark and the U.S.
http://www.netverk.net/

======= New Products =======

o Giga Information's French Unit Goes Private with $4 Million

CAMBRIDGE, Mass. -- Publicly traded Giga Information,
which provides research and consulting services
for Internet businesses, said its French division
received a $4 million investment to become a new
private company, GigaGroup. BNP, Cime, ING, Natexis,
Paribas, Pre IPO.net, Siparex, and Trinova invested
in the company. Giga Information will own less than
20% of the new company. GigaGroup will provide IT
and Internet business research, analysis and consulting
services in Europe. The company is headquartered
in Paris and plans to expand its offices throughout
Europe. Bruno Tourme, who led Giga Information's
operations in Europe, the Middle East, and Africa,
is the chairman and CEO of GigaGroup. Giga Information's
international vice president Jean-Michel Six is
a member of the new company's board of directors.
http://www.gigaweb.com/
_____________________________________________

o Software Testing and Monitoring Firm Empirix Launches

WALTHAM, Mass. -- Empirix, a provider of testing
and monitoring for the Internet and communications
markets, announced it has launched. The company
was created from technology network and software
testing businesses of Teradyne- Hammer Technologies,
RSW Software, and Software and Systems Test (SST).
The company also said it has received significant
funding from Matrix Partners. Jeff Hotchkiss, the
former CFO of Teradyne, will be Empirix president
and CEO, and Teradyne founder, Alex d'Arbeloff,
will chair the Empirix board.
http://www.empirix.com/
_____________________________________________

o KnowToday Becomes Clerity Knowledge Exchanges

CINCINNATI -- KnowToday, a developer and marketer
of technology that enables Internet portals to create
private-labeled information exchanges on their own
sites, announced it is changing its name to Clerity
Knowledge Exchanges. The company also announced
that its headquarters is now located here. Investors
for Clerity Knowledge Exchanges include River Cities
Capital and BlueStar Ventures.
http://www.clerity.com/

======= New Deals =======

o Pop.com Confirms Deal with Ifilm Off, Small Staff Retained

LOS ANGELES -- Pop.com, the Internet entertainment
site founded by Dreamworks SKG, Imagine Entertainment,
and Vulcan Ventures, confirmed that acquisition
talks with Ifilm.com, an online exchange for film
fans, filmmakers, and industry professionals, ended
without a deal. Pop.com, citing a downturn in the
market, said it will layoff most of its employees,
retaining a small staff. The company said it has
not decided what it will do with the content it
has already created and acquired. Pop.com, which
was formed last fall, never launched its Web site.
http://www.pop.com/

======= M&A =======

o Earful of Books Takes Majority Stake In Audiobookcafe.com

AUSTIN, Texas. -- Earful of Books, a national audiobooks
chain, said it has purchased a 90% interest in Audiobookcafe.com,
a six-month old audiobook-related content site.
The terms of the investment were not disclosed.
Paul Rush, president of Earful of Books, will serve
on the board of Pearlman & Baine Media, the parent
company of Audiobookcafe.com. In addition to the
financial support from Earful of Books and Pearlman
& Baine Media, its parent company, Audiobookcafe
is backed by  individual investors.
http://www.audiobookcafe.com/
_____________________________________________

o BuildNet Acquires Home Plan Resource Company HomeStyles

RESEARCH TRIANGLE PARK, N.C. -- BuildNet, which
provides online business, technology, and project
management systems for the home building industry,
said it acquired HomeStyles, which provides pre-designed
home plans for builders and consumers. BuildNet
is backed by BancBoston Ventures, Barnard & Co.,
Encore Venture Partners, GE Appliances, GE Capital,
Global Technology Investors Fund at Bessemer Trust,
Halifax BuildNet Investors, John Hancock Global
Technology Fund, J. & W. Seligman, Piedmont Venture
Partners, SG Capital Partners, South East Interactive
Technology Fund, and The CIT Group/Equity Investments.
The company is in a quiet period prior to filing for an IPO.
http://www.homestyles.com/
http://www.buildnet.com/
_____________________________________________

o American Greetings Buys Information-by-e-mail Service Firm

CLEVELAND -- Personalized content delivery firm
AmericanGreetings.com, a subsidiary of publicly
traded American Greetings, said it has acquired
eAgents, a firm that delivers consolidated information
and entertainment from Web media brands in a single,
daily e-mail. As part of the agreement, Charles
Fink, the company's founder, president and CEO of
eAgents.com, will become president of AmericanGreetings.com,
reporting to Josef Mandelbaum, the CEO. Terms of
the transaction were not disclosed. eAgents is backed
by Draper Atlantic, Lazard Technology Partners,
I-Hatch, and Shamrock Holdings.
http://www.eagents.com/
http://www.americangreetings.com/
_____________________________________________

o Digital Scent Developer, DigiScents, Buys SenseIT

OAKLAND, Calif. -- DigiScents, which is developing
technology to enable companies to incorporate scent
into Web sites, e-mail, online movies, music, games,
and advertising, said it acquired SenseIT Technologies,
a Delaware-based digital scent company. Terms of
the acquisition were not disclosed. The combined
entity, DigiScents, will retain headquarters in
Oakland, Calif., with branch offices in New York
City, and an R&D center in Israel. SenseIT Technologies
was co-founded by company president Eli Fisch and
two scientists from the Israeli Weizmann Institute
of Science, Professors Doron Lancet and David Harel.
DigiScents is backed by Pacific Century CyberWorks.
http://www.digiscents.com/
_____________________________________________

o AmeriNet Group.com To Acquire WeCU.com for $1.5 Million

BOCA RATON, Fla. -- Publicly-traded AmeriNet Group.com,
said it signed a letter of intent to acquire WeCU.com,
an international wireless television, communications
and Internet services provider. All of the assets
of WeCU.com. will be exchanged for approximately
two million shares of Amerinet stock, valued at
$1.5 million at the close of trading Wednesday.
WeCU.com is backed by individual investors.
http://www.wecu.com/
http://www.amerinetgroup.com/

======= New Directors =======

o Two Ericsson Execs Join Wireless Firm TrustLink's Board

STOCKHOLM -- TrustLink (UK), the holding company
of wireless application developer TrustLink Group,
said it appointed two representatives of communications
supplier Ericsson to the company's board of directors.
The appointments are a result of Ericsson's acquistion
of a 25% stake in the company. Mr. Per Olof Sjoestedt,
president of Ericsson Russia, and Mr. Staffan Pehrson,
general manager for mobile Internet, will both assume
seats on the company's board of directors. Located
in Russia and Switzerland, the company is backed
by Ericsson and individual investors.
http://www.trustlink.com/
_____________________________________________

o INNX Picks Media Analyst Harold Vogel To Join Company Board

SAN DIEGO -- INNX, a new media company specializing
in targeted advertising services, said it has appointed
Harold "Hal" Vogel to its board of directors. Mr.
Vogel was first vice president and senior entertainment
industry analyst at Merrill Lynch. He served on
the New York State Governor's Advisory Board for
Motion Pictures and Television, and is an adjunct
professor of media economics at Columbia University's
business school. Mr. Vogel is a venture capital
investor in many early-stage Internet media companies.
http://www.healthsurfing.com/
_____________________________________________

o Venture Capital Institution MerchantBanc Adds Three to Board

MANCHESTER, N.H. -- MerchantBanc, a financial institution
that provides services for private investors through
an Internet-based network, said it named Jesse Devitte,
William E. Wetzel Jr., and James C. Wood to its
board of directors. Mr. Devitte is president of
Vertical Market Ventures and Ivolution Strategies.
He served in executive positions with Softdesk and
Autodesk. William E. Wetzel Jr. is director emeritus
of the Center for Venture Research at the Whittemore
School of Business and Economics at the University
of New Hampshire. He founded the Venture Capital
Network in 1984. James C. Wood is president of Kana
Communications.  He founded and served as CEO of
Silknet Software, which merged with Kana. MerchantBanc
provides services that enable investors to identify
worthy businesses and provides entrepreneurs with
access to venture capital.
http://www.merchantbanc.com/
_____________________________________________

o Two Join Board of Equity Execution Services Firm NeoNet

STOCKHOLM -- NeoNet, which offers institutional
investors and broker dealers anonymous electronic
trading access to multiple securities markets, said
it has appointed Thord Wilkne and Mats Sundstrom
to its board of directors. Mr. Wilkne is chairman
and co-founder of Swedish IT-supplier WM-data, a
Nordic supplier of IT-related services, and Mr.
Sundstrom is chairman of Swedish Enlight Interactive.
NeoNet, which is planning to go public before the
end of the year, is backed by ITP (Information Technology
Partners). The company has also received funding
from Hans Karlsson, the chairman of Swedish mobile
technology firm HiBQ International.
http://www.neonet.se/
_____________________________________________

o ZuluSports.com Names Former Nike Division Head to Board

SAN FRANCISCO -- ZuluSports.com, an online resource
for adventure and outdoor sports enthusiasts, said
it has appointed Gordon McFadden, the former president
of Nike's all-conditions gear division, to its board
of directors. Prior to Nike, Mr. McFadden was president
and CEO of Helly-Hansen, a manufacturer of outdoor
clothing. ZuluSports.com is backed by Angel Investors,
Fujigin Capital and Aslan Capital.
http://www.zulusports.com/
_____________________________________________

o Telecom Entrepreneur Joins Clearwire Technologies Board

DALLAS -- Clearwire Technologies, a provider of
wireless local access solutions, said Jimmy Mansour
is joining the company's board of directors. Mr.
Mansour currently holds positions on several boards,
including Netspeed, GroupTel, and Netpliance. Clearwire
Technologies is backed by individual investors.
http://www.clearwire.com/

======= New People =======

o Ex-Hamilton Management Partner Now CEO & President of DIVA

REDWOOD CITY, Calif. -- DIVA, a provider of interactive
video-on-demand products and services, said it named
Hendrik A. Hanselaar, formerly a general partner
in Hamilton Management Partners, president and CEO.
Mr. Hanselaar replaces David Zucker, who left the
company to become CEO of one of Stamford, Conn.-based
Walker Digital's operating units. Mr. Zucker will
continue to serve as a director on DIVA's board
and will work with Mr. Hanselaar over the next few
months to help with the transfer of responsibilities.
DIVA'S backers include publicly traded UK-based
cable television provider NTL, Liberate Technologies,
Open TV, and General Instrument. The company filed
for an IPO last May.
http://www.divatv.com/
_____________________________________________

o Peppers and Rogers Pick Former McKinsey Partner as Leader

STAMFORD, Conn. -- Peppers and Rogers Group, a management
consulting firm that also runs a venture capital
group, 1 to 1 Ventures, said it named Steve Skinner
as its new president and CEO. Mr. Skinner was most
recently a partner with Atlanta-based McKinsey &
Co., where he led the transportation unit of the
firm's business accelerator. He also worked as a
sales engineer and sales manager with Johnson Controls.
Mr. Skinner succeeds company co-founder and former
president and CEO Bob Dorf, who has become a managing
director of company affiliate 1 to 1 Venture Partners,
which the company launched last year.
http://www.1to1.com/
_____________________________________________

o BenefitPort Names Healtheon/WebMD Exec To CEO Post

GREENWICH, Conn. -- BenefitPort, a technology-based
network for health insurance sales and employee
benefits, said it has appointed Thomas P. Staudt
as its CEO. Mr. Staudt was senior operating officer
of Healtheon/WebMD. He has also served as chairman
and CEO of Mede America. With his arrival, former
CEO Andrew Sawyer will now serve as president of
the Insurance division. BenefitPort has a commitment
of $60 million in financial backing from the Trident
Partnership, a private equity fund advised by Marsh
& McLennan Capital and J.P. Morgan.
http://www.benefitport.com/
_____________________________________________

o Digital Content Firm WAM!NET Appoints President

EAGAN, Minn. -- WAM!NET, which provides digital
content management services, said it has appointed
William Sulivan as its new president. Mr. Sullivan
joined WAM!NET in March as senior vice president.
Prior to joining the company, he was CEO of PR21,
a New York-based public relations firm. WAM!NET
has received equity funding from MCI WorldCom, WindStar,
Silicon Graphics, and Sumitomo.
http://www.wamnet.com/

======= VC Fund News =======

o Italian VC MyQube Opens Silicon Valley Office

MILAN -- MyQube, a European early-stage venture
capital firm, said it opened a new office in Silicon
Valley. The new branch will concentrate on investments
in California high technology companies and will
draw its capital from the EUR 100 million ($88
million) EuroQube fund. Enzo Torresi, a MyQube advisor,
will assume the position of managing director for
the fund. Mr. Torresi was most recently a founding
partner in EuroFund and previously co-founded ICAST.
The firm also announced its first investment in
natural language technical support software developer,
noHold. The amount of capital invested was undisclosed.
In addition to the new office in California and
its headquarters here, the company operates from
several locations in Europe including, Geneva, Munich,
and London.
http://www.myqube.com/

======= VC Personnel =======

o AV Labs Names Former onQ Technology CEO as Venture Fellow

AUSTIN, Texas -- AV Labs, an early stage venture
fund focused on seed and first round investments,
said it named Eric Loeffel as a Venture Fellow.
Mr. Loeffel, who most recently served as president
and CEO of onQ Technology, will provide operating
executive experience to startup companies. The AV
Labs portfolio includes Covasoft, InStreamTV, Terrace
Mountain Systems, newgistics, onecard, and WebTaggers.
http://www.avlabs.com/
_____________________________________________

o EnerTech Capital Partners Names Ex-Varidigm CEO as Partner

WAYNE, Pa. -- Private equity firm EnerTech Capital
Partners said it named Kenneth Kazmer a venture
partner. Mr. Kazmer was recently president of DeltaDigm,
a product development consulting firm. He also founded
and served as director and CEO of Varidigm, a speed
motor technology company. EnerTech manages $285
million and focuses on technology, service and infrastructure
investment in the energy, utility, and communications markets.
http://www.enertechcapital.com/

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