From: venturewire@venturewire.com
To: jdasovic@enron.com
Date: 2000-11-09 06:25:00+00:00
Subject: VentureWire, Thursday, November 9, 2000

======================================================
VENTUREWIRE --- Thursday, November 9, 2000
======================================================
Private Company Business News
------ Published Daily by Technologic Partners -------
http://technologicpartners.com
======================================================

Top Stories:

o Doll Capital Management Launches $450 Million Fund
o Internet Router Firm Pluris Raises $100 Million Round
o Shell Oil Launches Venture Unit, Partnerships With TCV, H&Q
o Pacesetter to Raise $150 Million Fund for Minority-Led Firms

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Also in This Issue:

New Money:
o M&A Service Provider USBX Lands $10 Million in Seed Funding
o Apps Firm Wireless Services Corp. Secures Series A Funding
o Intellectual Property Firm Iddex Has $2.8 Million Round One
o Virtual CEO, Performance Management Firm, Gets Series A
o Web Marketplace Provider Vertac Raises $500,000 First Round
o Web Site Evaluator Troba Raises $5.5 Million in Round One
o Customer Care Firm vCustomer Raises $11 Million Second Round
o Kagoor Networks Closes Round Two with $18 Million
o Medical Software Firm Cbyon Has $11.5 Million in Round Two
o Online Sports Firm Active.com Has $21 Million Second Round
o Investing Site SaveDaily Closes Series B with $1.5 Million
o Wireless Firm Vocera Raises $7.1 Million in Second Round
o E-Business Provider eAssist Secures $27 Million in Series C

Bad News:
o Recently Funded B2B Market EqualFooting Cuts Staff by 15%
o Streaming Media Firm Files for Chapter 11 Before Merger

New Deals:
o Sephora.com Buys Name and URL of Defunct Beauty Site Eve.com
o ING Barings Takes Equity Stake in OffRoad Capital

M&A:
o New Edge Networks Acquires West-Net in Stock and Cash Deal

New Directors:
o B2B Firm Day Interactive Appoints Former AOL Exec to Board
o ServiceMagic.com Names Qwest Dex CEO to Board
o Tech Holding Firm Fenix Taps Ex-TCI Vice President for Board
o Ubiquio Names CEO of Interelate to Board of Directors

New People:
o Former Scientific-Atlanta VP, Named President & CEO of Iolon
o Data Distilleries Names Former Andersen Partner as CEO
o 3Di Names Ex-Lockhead Martin Executive as President and COO
o Consulting Firm Quidnunc Taps Former Consult Exec as CEO
o Intellectual Property Firm uVentures Adds to Board

VC Fund News:
o Hicks Muse Guarantees 20% Fund Return, Backs Away from VC
o e-ffinity Properties Formed to Fund Real Estate Tech Firms
o Netherlands VC Firm NeSBIC Starts Support Program
o Spectrum Equity Expands London Office, Fund Ready to Go
o Woodside Fund Forms Strategic Partnership with Acuitive

VC Personnel:
o BancBoston Capital Names Two to European Investment Group
o Kick-Start Ventures Names Two New Partners in London

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

o Doll Capital Management Launches $450 Million Fund

MENLO PARK, Calif. -- Doll Capital Management said
it launched DCM III, a $450 million fund that will
focus on early stage Internet and telecommunications
companies. The company said it estimates that it
will invest in approximately 40 companies with an
average investment of $3 million to $7 million.
General managing partners Dixon Doll and David Chao
will oversee the fund. The company's capital under
management now reaches to more than $1 billion.
http://www.dollcap.com/
_____________________________________________

o Internet Router Firm Pluris Raises $100 Million Round

CUPERTINO, Calif. -- Pluris, which develops scalable
routers for the Internet, said it raised $100 million
in its latest round of funding. The round was led
by Sands Brothers & Co. and included new investors
ABN AMRO, Alliance Capital, Bank of America Securities,
Credit Suisse First Boston, Dain Rauscher Wessels,
Carlo de Benedetti, Stephen Garofalo, PB Ventures,
PCG Ventures, Rana Investment, Samsung, Special
OpportunitiesGrou, and Vulcan Ventures. Previous
investors Lightspeed Venture Parters, ComVentures,
Cescendo Ventures, Bay Partners, Chase Capital Partners,
Worldview Technology Partners, Deutsche Bank, global
Crossing Ventures, RWI Group, and Brad Peery Capital
also participated in the round. The company said
it will use the funding to continue to develop its
technology and sales and marketing structures internationally.
http://www.pluris.com/
_____________________________________________

o Shell Oil Launches Venture Unit, Partnerships With TCV, H&Q

PALO ALTO, Calif. -- The Royal Dutch/Shell Group
of Companies said it launched Shell Internet Ventures
to invest in development stage Internet and communications
companies. The venture unit will invest independently
as well as in partnership with Palo Alto-based Technology
Crossover Ventures (TCV) in North America and H&Q
Asia Pacific in Asia. TCV and Shell will make co-investments
in companies outside of Shell; TCV will also selectively
invest in Internet-related companies originating
within Shell.
http://www.shell.com/internetventures/
http://www.tcv.com/
_____________________________________________

o Pacesetter to Raise $150 Million Fund for Minority-Led Firms

RICHARDSON, Texas -- Pacesetter Growth Fund, which
makes investments in firms owned or managed by minorities
in the southern U.S., said it intends to raise a
new fund for $150 million in the first quarter of
next year. Pacesetter said the fund will provide
capital at various stages in Internet infrastructure,
telecom, wireless, and broadband companies, in addition
to broadcast media and food processing firms. The
fund will focus on companies based in Texas, Oklahoma,
Arkansas, Arizona, New Mexico, Colorado, and California,
but consider investments elsewhere. Pacesetter makes
typical investments of between $500,000 and $5 million.
The firm's previous fund closed at $46.5 million
and is nearly fully committed.
http://www.mvhc.com/

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

o M&A Service Provider USBX Lands $10 Million in Seed Funding

SANTA MONICA, Calif. -- USBX, (U.S. Business Exchange),
a provider of merger and acquisition services for
buyers and sellers of small to medium-sized businesses,
said it raised more than $10 million in its initial
seed financing and Series A round completed in September.
Carlyle Venture Partners led the round. Other participating
investors included eCompanies Evercore Venture Partners
(EEVP II), eCompanies Venture Group (EVG), Jolson
Merchant Partners, and Sunflower Capital. USBX announced
the launch of its business and Web site in October.
The site offers M&A information, tools, and services.
http://www.usbx.com/
_____________________________________________

o Apps Firm Wireless Services Corp. Secures Series A Funding

BELLEVUE, Wash. -- Wireless Services Corp., a service
provider for mobile Internet applications, said
it secured an undisclosed amount in its Series A
round of funding from Madrona Venture Group, SeaPoint
Ventures, and Northwest Venture Associates. The
company said it will use the funds to accelerate
development of its universal mobile applications
platform and to support the expansion of engineering
and corporate operations, including additions to
its management team. Tom Huseby, managing partner
of SeaPoint Ventures, has been appointed chairman
of the board. Tom Alberg, managing director of Madrona
Venture Group, and Keith Grinstein, vice chairman
of Nextel International, have also been added to
the board. Chris Brookfield, managing director of
Northwest Venture Associates, has joined the board
as an observer.
http://www.wirelesscorp.com/
_____________________________________________

o Intellectual Property Firm Iddex Has $2.8 Million Round One

NEW YORK -- Iddex, an intellectual property management
applications firm, announced it has raised $2.8
million in its first round of financing with $1.25
million from Millennium3Capital, $1 million from
Adler & Co., and the rest of the funding from Pappajohn
Investments and CEO Dennis Dugan. Iddex said that
there will be no changes to the board of directors
and that it will use the funds to beta test and
launch its product.
http://www.iddex.com/
_____________________________________________

o Virtual CEO, Performance Management Firm, Gets Series A

SAN JUAN CAPISTRANO, Calif. -- Virtual CEO, which
provides performance management and assessment technologies,
said it raised $2 million in its Series A round.
Investors in the round included Odyssey Strategic
Partners, GenStar, and private investors. The company
said it will use the funding to hire additional
staff and develop new products and technology.
http://www.virtualceo.com/
_____________________________________________

o Web Marketplace Provider Vertac Raises $500,000 First Round

BOSTON -- Vertac, which creates and manages Internet
marketplaces for online businesses, said it has
raised $500,000 in its first round of financing
from IdeaWorks. David Brenner of IdeaWorks will
join Vertac's board as its fourth member. Vertac
said it plans to use the funds to develop its marketplace
model, to increase sales, and to expand staff. The
company received $300,000 in seed investment from
James Investments last year.
http://www.vertac.com/
_____________________________________________

o Web Site Evaluator Troba Raises $5.5 Million in Round One

SAN FRANCISCO -- Troba, which provides businesses
with technology that evaluates the effectiveness
of their Web sites, said it raised $5.5 million
in its first round. CMEA Ventures participated in
this round along with other undisclosed individual
investors. The company will use the funds to launch
its product e-MBO, which develops, measures, and
tracks customer satisfaction, and to expand its
business development and sales activity.
http://www.troba.com/
_____________________________________________

o Customer Care Firm vCustomer Raises $11 Million Second Round

BELLEVUE, Wash. -- vCustomer, a customer support
applications and outsourcing firm, raised $11 million
in its second round of funding with $10 million
from Warburg Pincus. The remainder came from undisclosed
investors. Maya Chroengel, a vice president at Warburg
Pincus, will join vCustomer's board as its second
member. vCustomer said it will use the funds to
open new offices and for sales and marketing.
http://www.vcustomer.com/
_____________________________________________

o Kagoor Networks Closes Round Two with $18 Million

SAN MATEO, Calif. -- Kagoor Networks, a developer
of voice over IP technologies, said it closed its
second round of funding with close to $18 million.
VantagePoint Venture Partners, ComVentures, an undisclosed
corporate investor, and individual investors including
Ed Kozel, former Cisco Systems chief technology
officer, and Raj Singh, founder of Sierra Networks,
participated in the round. Kagoor has offices in
Herzeliya, Israel and San Mateo, Calif.
http://www.kagoor.com/
_____________________________________________

o Medical Software Firm Cbyon Has $11.5 Million in Round Two

PALO ALTO, Calif -- Cbyon, a privately held medical
technology company developing and marketing surgical
navigation and visualization software for minimally
invasive surgery, said it has raised $11.5 million
in a second round of funding provided by Tredegar
Investments and Mitsui Private Equity. The round
also included previous investors Alloy Ventures,
Asset Management, Bedrock Capital, Charter Ventures,
and Nikko Synergy Ventures. Edward F. Brennan, the
vice president of Tredegar, will take a seat on
Cbyon's board of directors.
http://www.cbyon.com/
_____________________________________________

o Online Sports Firm Active.com Has $21 Million Second Round

LA JOLLA, Calif. -- Active.com, which provides online
sports registry services, said it raised $21 million
in its second round of funding. Deutsche Bank affiliate
ABS Ventures led the round, which includes new investors
Hambrecht Capital, PowerBar founders Brian and Jennifer
Maxwell, and previous investors Austin Ventures,
Enterprise Partners, Kettle Partners, and Ticketmaster-Online
CitySearch. The company will use the funding to
further develop its online registration services.
Last month, Active.com merged with recreational
management software developer Sierra Digital. The
company, formerly ActiveUSA.com, also merged with
RaceGate.com last year. Active.com is also backed
by KB Partners, New World Ventures, and Tour de
France cycling champion Lance Armstrong. The latest
round brings the company's total funding to approximately
$52 million.
http://www.active.com/
_____________________________________________

o Investing Site SaveDaily Closes Series B with $1.5 Million

IRVINE, Calif. -- SaveDaily, which runs an online
investing service, said it has closed its Series
B round of financing at $1.5 million with $1 million
from the venture firm H. S. Dent Foundation and
the rest from undisclosed investors. Harry S. Dent,
Jr., president of the H. S. Dent Foundation, invested
in SaveDaily's Series A round in April of this year
and will join SaveDaily's board as its fourth member.
SaveDaily said it will use the funds to increase
marketing.
http://www.savedaily.com/
_____________________________________________

o Wireless Firm Vocera Raises $7.1 Million in Second Round

CUPERTINO, Calif. -- Vocera, a Bluetooth wireless
communications applications firm, said it has raised
$7.1 million in its second round of funding from
lead investor Vanguard Venture Partners, previous
investor RRE Ventures, and IDEO. Don Wood of Vanguard
will join Vocera's board as its third member. Vocera
said it will use the funds for product development
and to expand staff and management.
http://www.vocera.com/
_____________________________________________

o E-Business Provider eAssist Secures $27 Million in Series C

SAN DIEGO -- eAssist Global Solutions, which provides
electronic businesses with integrated customer relationship
management software applications, said it has secured
$27 million in its Series C round of funding. The
investors included GRP II, CIBC Capital Partners,
Trinity Ventures, Vantage Point Venture Partners,
and Infinity Capital. eAssist, which has raised
$67 million to date, said it will use the funds
to build additional internal infrastructure and
for European expansion. Steven Dietz, a partner
at GRP, will take a seat on eAssist's board of directors.
The company was formerly known as eAssist.com.
http://www.eassist.com/

======= Bad News =======

o Recently Funded B2B Market EqualFooting Cuts Staff by 15%

DULLES, Va. -- EqualFooting.com, a business-to-business
online marketplace that provides purchasing, financing,
and shipping services to businesses in the manufacturing
and construction industries, said it laid off 35
workers, approximately 15% of its employees. The
company said the layoffs were a result of a company
restructuring due to market conditions and greater
demand from larger companies. EqualFooting.com originally
focused mostly on serving small and medium sized
companies. The company said its laid-off employees
were given severance pay and continued health insurance
coverage and stock options. EqualFooting.com raised
a $60 million second round of funding earlier this
year, bringing its total funding raised to approximately
$70 million. The company is backed by Capital Investors,
Draper Richards, FBR Technology Venture Partners,
NationsRent, New Enterprise Assiciates, Nextel Communications,
Safeguard Scientifics, Thomas Publishing, Textron,
Women's Growth Capital Fund, Yahoo!, and former
Federal Communications Commission chairman Reed
Hundt.
http://www.equalfooting.com/
_____________________________________________

o Streaming Media Firm Files for Chapter 11 Before Merger

PORTLAND, Maine -- Streaming media firm BroadcastAmerica.com
said it would file for Chapter 11 bankruptcy as
part of its intention to reorganize and merge with
SurferNetwork.com, a Mt. Olive, N.J.-based provider
of Internet marketing and streaming radio services.
A timeline for the deal as well as financial details
are uncertain, but the companies said they expect
the deal to be completed in six months. The combined
company will be called BroadcastAmerica and headquartered
here. Current SurferNetwork chairman and CEO Gordon
J. Bridge will become the chairman and CEO of the
new company. Current directors from both companies
will be named as directors of the new BroadcastAmerica,
as will BroadcastAmerica.com founders. SurferNetwork
is backed by individual investors and incubator
Geode Electronics. BroadcastAmerica.com is funded
by individuals.
http://www.broadcastamerica.com/
http://www.surfernetwork.com/

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

o Sephora.com Buys Name and URL of Defunct Beauty Site Eve.com

SAN FRANCISCO -- Sephora.com, an online beauty retailer,
said it acquired the name and Web address of failed
beauty site Eve.com, as well as the rights to send
two e-mails to Eve.com's customers. Eve, an online
upscale beauty products retailer, closed its operations
and laid off most of its employees late last month.
Sephora.com is the online branch of Sephora, a fragrance
and cosmetics superstore and subsidiary of LVMH
Moet Hennesy Louis Vitton. The terms of the deal
were not disclosed. Eve.com was backed by idealab!,
Weiss, Peck & Greer Venture Partners, Charter Venture
Capital, Crosslink Capital, and Menlo Ventures.
http://www.sephora.com/
_____________________________________________

o ING Barings Takes Equity Stake in OffRoad Capital

SAN FRANCISCO -- OffRoad Capital, an online marketplace
for private companies, said it formed a strategic
alliance with ING Barings under which ING intends
to take an undisclosed equity stake in the company
in exchange for access to OffRoad's technology platform.
The alliance is designed to expand the deal flow
for both companies. Richard Burrell, ING Baring's
head of Internet business, will take a seat on the
company's board as an observer. OffRoad currently
holds partnerships with Charles Schwab, Robertson
Stephens, and the Mayfield Fund.
http://www.offroadcapital.com/

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

o New Edge Networks Acquires West-Net in Stock and Cash Deal

VANCOUVER, Wash -- New Edge Networks, a wholesale
broadband DSL provider in small, midsize and semi-rural
markets, said it acquired West-Net, a privately
owned data communications network service provider,
in a stock and cash deal. Financial terms of the
deal were not disclosed. Keith Rinne, president
and founder of West-Net, also based in Vancouver,
Washington, will become president of the newly created
WAN services group for New Edge Networks. New Edge
Networks investors include Goldman Sachs partnership
GS Capital Partners III, Accel Partners, Crosspoint
Venture Partners, Greylock, Intel, Meritech Capital
Partners, Comdisco Ventures, Morgan Stanley Dean
Witter, and the company's management.
http://www.newedgenetworks.com/
http://www.wni.net/

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

o B2B Firm Day Interactive Appoints Former AOL Exec to Board

LOS ANGELES -- Day Interactive, a publicly traded
Swiss firm that creates and manages business-to-business
Web sites and Internet marketplaces, said it has
appointed Mark Walsh, former senior vice president
and corporate officer at America Online and founder
and director of America Online's business-to-business
division, AOL Enterprise, as the sixth member of
its board. Mark Walsh is currently chairman and
chief strategy officer at VerticalNet, a network
of Web sites for the business-to-business community,
and also serves on several corporate, non-profit,
and advisory boards including the President's Advisory
Group of the U. S. Chamber of Commerce, the Software
and Information Industry Association, and the Standard
for Internet Commerce group. Day Interactive said
it has received institutional funding from undisclosed
companies in the U.S., England, Switzerland, and
other European countries.
http://www.daynetwork.com/
_____________________________________________

o ServiceMagic.com Names Qwest Dex CEO to Board

GOLDEN, Colo. -- ServiceMagic.com, an online marketplace
that connects consumers with local home service
professionals, said it named Jim Smith to its board
of directors. Mr. Smith is president and CEO of
Qwest Dex, a print and online directory publishing
and Internet advertising division of Qwest Communications.
Mr. Smith currently serves on the boards of directors
for Critical Path, PointServe, University of Washington
e-Business Advisory Board, the Yellow Pages Publishers
Association, the Children's Hospital, and the Public
Education Network. ServiceMagic's investors include
CertainTeed, Maytag, US WEST, Softbank Venture Capital,
Sequel Venture Partners, and Tango.
http://www.servicemagic.com/
_____________________________________________

o Tech Holding Firm Fenix Taps Ex-TCI Vice President for Board

DALLAS -- Fenix Enterprises, a technology holding
company, said it has appointed Larry. E. Romrell,
the former vice president of Tele-Communications
(TCI), to its board of directors. Mr. Romrell also
served as senior vice president of TCI Ventures
Group. Mr. Romrell will join recent appointees Fred
Vierra, former CEO of Tele-Communications International
(TCI) and Terence V. Milholland, CTO of Electronic
Data Systems (EDS), on Fenix's board. Fenix, which
is backed Union Pacific, said it is actively seeking
venture capital.
http://www.fenixenterprises.com/
_____________________________________________

o Ubiquio Names CEO of Interelate to Board of Directors

MINNEAPOLIS -- Ubiquio, a handheld service provider
that manages mobile devices for business customers,
said it named Wade Myers to its board of directors.
Mr. Myers is chairman and CEO of Interelate, a customer
intelligence application service provider. Ubiquio
is funded by Andcor Companies, Backfin Capital,
Start Up Fund I, Capitalyst Group, Intranet Solutions,
Risdall Linnihan Advertising, and individual investors.
http://www.ubiquio.com/

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

o Former Scientific-Atlanta VP, Named President & CEO of Iolon

SAN JOSE, Calif. -- Iolon, which designs and develops
tunable optical devices, said it named John H. Clark
as president, CEO, and chairman of the board. Mr.
Clark, who previously worked as an assistant professor
of chemistry at the University of California at
Berkeley and helped found Amoco Laser, most recently
served as vice president and general manager of
the opto-electronics unit at Scientific-Atlanta.
Iolon is backed by investors including Kleiner Perkins
Caufield & Byers, Seagate Technology, and Optical
Capital Group.
http://www.iolon.com/
_____________________________________________

o Data Distilleries Names Former Andersen Partner as CEO

AMSTERDAM -- Data Distilleries, a European provider
of analytical customer relations management (CRM)
services, said it appointed Robert Baldock, former
global managing partner with Andersen Consulting,
as its new chief executive officer. Mr. Bladock
most recently spent six months investing in Internet
finance start-ups. Marcel Holsheimer, company founder,
will become Data Distilleries president. Data Distilleries
products enable businesses to predict customer behavior
and use those predictions in real-time personalized
recommendations through various channels. The company's
investors include Capital Z Financial Services Fund
II, efinanceworks, and Glide IT Fund. Data Distilleries
was founded in 1995 as a spin-off of the Dutch National
Research Center for Mathematics and Computer Science.
http://www.datadistilleries.com/
_____________________________________________

o 3Di Names Ex-Lockhead Martin Executive as President and COO

EASTON, Md. -- 3Di, which collects spatial data
and provides companies with spatial data technology,
software, and applications, said it has appointed
Kevin J. Reardon, a former U. S. Navy nuclear submarine
captain who also held executive positions at Lockhead
Martin and Northrop Grumman managing spatial data
for the U. S. military, as president and COO. 3Di
said it received funding from Koch Ventures in 1998.
http://www.3Di.com/
_____________________________________________

o Consulting Firm Quidnunc Taps Former Consult Exec as CEO

NEW YORK -- Quidnunc, an Internet business consulting
firm, announced it has appointed Bob Burke, former
president of consulting firm ePresence Solutions,
as the company's CEO. Co-founder Laurence Holt will
remain chairman of the board. Quidnunc received
$15 million in its first round of financing from
Goldman Sachs Private Equity Partners and Weston
Presidio Capital in October of last year.
http://www.quidnunc.com/
_____________________________________________

o Intellectual Property Firm uVentures Adds to Board

NEW YORK -- uVentures, an online intellectual property
management and technology licensing marketplace,
said it has appointed Thomas Gardner, the president,
chief executive officer and director of Datamonitor,
to its board of directors. Mr. Gardner was previously
chairman and chief executive officer of Base Ten
Systems. uVentures is backed by individual investors.
http://www.uventures.com/

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

o Hicks Muse Guarantees 20% Fund Return, Backs Away from VC

DALLAS -- Buyout and investment firm Hicks Muse
Tate & Furst said it will guarantee a minimum of
a 20% internal rate of return for investors on $200
million that has been invested in early-stage Internet-related
companies. The $200 million, called HTMF Holdings,
is part of Hicks' Fund V, which it expects to close
with several billion dollars. Hicks Muse has made
investments from loans and is now raising funds
to cover the loans. The move to guarantee returns
comes after several of its Internet investments
have performed poorly. Hicks Muse partners will
personally guarantee the investment return from
profits of previous funds. The firm also said it
would no longer be making venture capital investments
in new companies and would focus on companies in
the consumer branded, manufacturing, and media sectors.
The firm has not ruled out making additional investments
in venture-backed companies it already has in its
portfolio. Hicks Muse cited market difficulty and
investor reluctance as factors in its change of
investment strategy. The company's venture capital
portfolio includes Latin American travel site Despegar.com,
Web-based community developer Ramius, online sports
content provider Sports.com, data and dedicated
Internet service provider Teligent, and ISP Vectrix.
In September, CMGI called off plans to establish
an international venture fund with Hicks Muse Tate
& Furst and PCCW. Telephone 214-740-7300.
_____________________________________________

o e-ffinity Properties Formed to Fund Real Estate Tech Firms

NEW YORK -- Brookfield Properties, Chase Capital
Partners, CIBC Capital Partners, and Trilon Capital
Partners said they formed a real estate technology
partnership called e-ffinity properties to provide
venture capital to emerging technology companies
for new telecommunication and technology-based products
and services for real estate companies and their
tenants. The companies have committed an initial
$60 million to e-ffinity.
http://www.e-ffinityproperties.com/
_____________________________________________

o Netherlands VC Firm NeSBIC Starts Support Program

UTRECHT, The Netherlands -- NeSBIC CTe Fund, a venture
capital fund in the Netherlands, said it started
a support program called Value-Added Services Program
(VASP) for its 31 portfolio companies. VASP will
provide services in finance, human capital, law,
business development, and operations. Portfolio
companies also will have access to the CTe extranet,
an online communication platform where the companies
can exchange information, experience, and business
opportunities, and look up information such as advice
on recruiting new employees. The NeSBIC CTe fund
currently has $310 under management.
http://www.nesbic.com/
_____________________________________________

o Spectrum Equity Expands London Office, Fund Ready to Go

LONDON -- Spectrum Equity Investors, a communications
venture capital firm, said it added Michael Kennealy
to its London office. Mr. Kennealy was a general
partner in the Boston, Mass. office and will relocate
to London as general partner. Mr. Kennealy joins
Shawn Colo, who opened the London office in December
1999. The company also said it is ready to invest
$500 million of its $1.75 billion Fund IV. Fund
IV will invest in all stages of communications and
infrastructure companies, particularly in the U.K.
and Western Europe.
http://www.spectrumequity.com/
_____________________________________________

o Woodside Fund Forms Strategic Partnership with Acuitive

WOODSIDE, Calif. -- Early stage venture capital
firm Woodside Fund formed a partnership with Acuitive,
a consulting firm that provides strategic management
and technical services for early stage telecommunications
and networking ventures. Acuitive will be making
its expertise and contacts available to Woodside
and will also be joining Woodside's technical advisory
board. Woodside Fund IV closed in April 2000 and
invests between $5 million and $10 million in early
stage IP infrastructure and e-commerce infrastructure
companies located in Northern California and the
West Coast.
http://www.woodsidefund.com/

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

o BancBoston Capital Names Two to European Investment Group

LONDON -- BancBoston Capital, the private equity
investment arm of FleetBoston Financial, said it
appointed Bernard De Backer and Scott Penwell to
its European Technology and Communications Group.
Mr. De Backer, who performed four years of research
in electromagnetics, will develop European investment
opportunities in broadband communications. Mr. Penwell,
formerly employed with Robertson Stephens working
on corporate finance and merger and acquisition,
will focus on investments in software and information
technology services. Telephone +44-207-600-2288.
_____________________________________________

o Kick-Start Ventures Names Two New Partners in London

LONDON -- European venture catalyst Kick-Start Ventures
said it named two new partners to its London office.
Alexandra Clarke, former partner at Deutsche Bank-affiliated
incubator Armada Partners, will join the firm as
its new finance partner. Erik Vasquez, former business
development manager for Kana Communications, will
assist in new venture development at the firm. Kick-Start
Ventures has a European network offices in London,
Paris, Munich, Frankfurt, and Amsterdam.
http://www.kickstartventures.com/

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DODADS, GADGETS, AND GIZMOS, OH MY!

Our pockets are overflowing with mobile phones, PDAs, and
two-way pagers, and more products -- from Web pads to picture
frames -- come with Internet connections. Consumer Devices,
one of five expert panels at Technology Outlook 2000, will
sort through the clutter to determine which devices have the
best chances of finding mass-market audiences:

Safi Qureshy, Chairman, AudioRamp
Daniel H. Rimer, Partner, The Barksdale Group
Kent Savage, President & CEO, Netpliance
Michael Slater, President, PhotoTablet

Technology Outlook 2000:
The future of pervasive computing
December 4 and 5, San Francisco
http://www.tpsite.com/tp/conf/to2000/?vw=200011092
A VentureWire investment conference.

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