TradeBeam raises $7M for trade management software
TradeBeam Holdings, a San Mateo, Calif.-based provider of software that manages global trade agreements online, has brought in $7 million to extend a $3 million round earmarked for expansion of its operations in China. Its product helps companies make sure they are complying with export regulations, inventory their assets, track their products in transit and oversee segments of their supply chains.
Serving more than 7,000 clients, the company has raised about $70 million in capital before… Continue Reading
Actelis scores $4.7M for copper-wire ethernet
Actelis Networks, maker of equipment that lets ethernet run over copper wires, tacked $4.7 million more onto its previously raised $15 million sixth round of funding, reports VentureWire. With fiber optics becoming too pricey for many businesses, copper has become a popular alternative.
The Fremont, Calif.-based company says that of its 150 clients most are telecommunications companies. But it has recently caught business from several California cities (including Sacramento) that want to use copper ethernet for… Continue Reading
Neovista sees $18M to treat eye disorders
Neovista, a Fremont, Calif.-based biotech company specializing in eye diseases, says it raised $18 million in a fourth round of funding to commercialize its new device. The money came from Accuitive Medical Ventures, Carlyle Group, Essex Woodlands Health Ventures, MPM Capital, SV Life Sciences and Versant Ventures.
The company says the money should be enough to see the device through to approval by the Food and Drug Administration in 2010. The product has already been cleared… Continue Reading
Proteus snaps up $30M to take on heart failure
Proteus Biomedical Inc., a company developing microscopic electromechanical devices capable of one day treating or preventing congestive heart failure, brought in more than $30 million in its first call for fourth round financing. It’s original goal was $28.6 million, but CEO Andrew Thompson says the company is looking for even more money before the round’s second close, VentureWire reported.
The Redwood City, Calif.-based biotech firm is looking to strike out ahead of its competitors, CardioMEMS Inc…. Continue Reading
Former Time editor Pearlstine leaves Carlyle for Bloomberg — What next?
Norman Pearlstine, the former editor in chief of Time Inc., has left the politically connected buyout firm Carlyle after less than two years, and joined the financial media company, Bloomberg.
The departure comes at a time when Carlyle is going through serious turmoil, with prominent partner Bob Grady stepping into a lesser role. The firm recently lost two other partners and replaced them with others.
In March, lenders seized the assets of one of its subsidiaries… Continue Reading
Roundup: AMD falls, Sequoia expands, and more
Here’s the latest action:
Advanced Micro Devices is in a world of hurt — The Sunnyvale, Calif. chip company lost $358 million on revenues of $1.5 billion in the quarter. It cited a tough outlook for the computer market, but it is clearly hurting from Intel’s newfound competitiveness. AMD’s core business is microprocessors and graphics chips for personal computers. It has other businesses related to getting those chips into other devices, from consumer electronics to mobile… Continue Reading
Health-info site HealthCentral Network pulls in $50M
(UPDATED: IAC put out a release this morning — see below.)
The HealthCentral Network, an Arlington, Va., collection of health-information sites, raised roughly $50 million, paidContent reports. Investors included some big names, include Barry Diller’s online media and commerce conglomerate IAC, Sequoia Capital, Carlyle Group and Polaris Venture Partners.
HealthCentral runs about 30 health-related Web sites, ranging from general-info offerings like HealthCentral.com to disease-specific sites such as OurAlzheimers.com and MultipleSclerosisCentral.com. (The company also owns the DrKoop.com name, although… Continue Reading
REVShare, raises $20M for cost-per-action TV ad network
REVShare, a Temecula, Calif.’ company that lets advertisers to bid for television time on a cost-per-action basis, has raised $20 million in a first round of funding.
The private equity firm Carlyle Group and H.I.G. Ventures co-led the round.
The auction/exchange model contrasts with the traditional method of charging based on projected audience size.
Founded in 1989, REVShare’s exchange allows advertisers to specify a price they are willing to pay per response (i.e. when someone is prompted to… Continue Reading
Life sciences briefing: Thursday, Nov. 29, 2007
Featured companies: Adenosine Therapeutics, Allylix, Caprotec BioAnalytics, Equipois, F-Star, Insightec, MedNets.com, Renal Solutions, Transport Pharmaceuticals, VeriCare Management
UPDATED: Expanded items on Transport Pharmaceuticals, InSightec and VeriCare Management.
Transport Pharma aims for $35M for cold-sore treatment — Framingham, Mass.-based Transport Pharmaceuticals, a dermatology-focused biotech developing a new treatment for cold sores, is looking to raise $35 million in a fifth funding round, VentureWire reports (subscription required). Hillman Co., Quaker BioVentures, Carlyle Group and EGS Healthcare Capital Partners have pledged $15… Continue Reading
Carlyle raises $605M fund for late-stage deals, despite poor performance
The venture arm of private-equity firm Carlyle Group has raised a $605 million fund to invest in later-stage deals and buyouts, despite poor performance so far on its prior fund.
Carlyle expects to invest $20 million to $30 million in companies that are mature and producing revenue, according to a piece in the WSJ (subscription required).
For a venture arm to be making late-stage and buyout investments, however, suggests a somewhat scattered approach. Carlyle also said it… Continue Reading
Sweden’s Meda acquires specialty pharma MedPointe for $820M
Meda, a Swedish specialty-pharmaceutical company, agreed to acquire MedPointe, another specialty pharma in Somerset, N.J., for roughly $820 million in cash and stock. Meda’s release — and be careful, as it’s a little difficult to slog through even though it’s (ostensibly) written in English — is here (PDF). (One hint for the baffled: “MUSD” stands for “millions of U.S. dollars.”)
MedPointe was backed by several private-equity firms — the Carlyle Group, the Cypress Group and Ferrer… Continue Reading
ThermaSource, geothermal co., raises cash
ThermaSource, a Santa Rosa, Calif. provider of drilling, engineering and consulting services to the geothermal energy sector, has raised an undisclosed amount of cash from US Renewables Group, Riverstone Holdings and The Carlyle Group.
From the statement:
Funds will come from USRG and Carlyle/Riverstone Renewable Energy Infrastructure Fund (”CRREIF”) and be used to acquire new and reconditioned drilling rigs. US Renewables Group and Carlyle/Riverstone are making their investment through their affiliate GRR Holdco, LP, an owner… Continue Reading