Author: Mark Boslet

Emergence Capital Partners said it appointment Alison Berkley Wagonfeld operating partner. She will work with portfolio companies and help them with recruiting and talent management. Wagonfeld previously was executive director of Harvard Business School’s California Research Center in Menlo Park and before that co-founded QuickenLoans at Intuit.

PRESS RELEASE

Emergence Capital Partners Welcomes Former Harvard Business School Executive Director Alison Berkley Wagonfeld to Operating Partner Role

Experienced Executive to Enhance Portfolio Company Operations and Manage Firm Marketing Efforts

SAN MATEO, CA– (March 18, 2013) – Emergence Capital Partners, the leading venture capital firm focused on SaaS and technology-enabled services, announced today the appointment of Alison Berkley Wagonfeld as Operating Partner. She will be working closely with portfolio companies to help them leverage Emergence’s deep expertise in SaaS go-to-market strategies, and also help Emergence companies with recruiting and talent management.  In addition, her core responsibilities will include communicating Emergence’s thought leadership in cloud-based software services and cultivating the firm’s network of resources and business partners.

Wagonfeld was previously the Executive Director of the Harvard Business School’s California Research Center located in Menlo Park where she wrote over 50 business case studies about innovative West Coast firms, with a focus on entrepreneurial software companies. Earlier in her career, she co-founded QuickenLoans at Intuit, where she wrote the original business plan for the company’s home-loan business. Her efforts propelled QuickenLoans to become one of the largest online home lenders in the country.

Wagonfeld later joined Greenlight.com as the second employee, where she served as Senior Vice President of Marketing and Business Development. The company was incubated and backed by Kleiner Perkins Caufield & Byers, then purchased by CarsDirect (Internet Brands).

“Alison is a very strong addition to our investment team, someone who has experience with both startups as well as leading public technology companies,” said Jason Green, General Partner, Emergence Capital Partners. “Her experience will provide significant value to our portfolio companies as she has an extensive network of contacts at firms throughout Silicon Valley due to her time with Harvard Business School and helping start two ventures. Alison understands what it takes for companies to overcome challenges and succeed.”

“I’m thrilled to join Emergence Capital Partners. The firm was a pioneer in backing early SaaS leaders such as Salesforce.com and SuccessFactors, and is now working with entrepreneurs who develop ground-breaking solutions in new sectors, including vertical SaaS solutions, mobile business applications, and social applications for business,” said Wagonfeld. “The Emergence team has always been at the vanguard of helping companies leverage the cloud to deliver superior technology-enabled services to business customers.”

Wagonfeld received her MBA from Harvard Business School after earning her B.A. at Yale. She has also worked as a product manager at Microsoft and as an investment banker with Morgan Stanley.

About Emergence Capital Partners (@emergencecap)

Emergence Capital Partners, based in San Mateo, Calif., is the leading venture capital firm focused on early and growth-stage SaaS and technology-enabled services companies. Its mission is to empower business users and organizations around the globe by unleashing the power of technology-enabled Services. The firm’s investments include Salesforce.com (CRM), SuccessFactors (acquired by SAP), Yammer (acquired by Microsoft), Lithium, YouSendIt, Box, and Veeva Systems. Founded in 2003, Emergence Capital has $575 million under management. More information on Emergence Capital can be found at http://www.emcap.com/.

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Nashville tech accelerator Jumpstart Foundry and nestGSV said they formed a partnership to allow Jumpstart Foundry startups to attend 12-week residencies at nestGSV’s Silicon Valley campus. Jumpstart will cover expenses for office and living space.

PRESS RELEASE

Jumpstart Foundry Opens Office in Silicon Valley ‘Ecobator’ nestGSV

Select alumni of Nashville tech business accelerator will gain access to dedicated Silicon Valley space, networking, and connections to investors and strategic partners

Nashville, TN and Redwood City, CA (PRWEB) March 15, 2013–Nashville tech business accelerator Jumpstart Foundry and Silicon Valley startup ‘ecobator’ nestGSV announced a partnership today whereby Jumpstart Foundry will rotate program graduates through 12-week residencies at nestGSV’s Silicon Valley campus. While JSF covers expenses for office and living space, startup teams will focus on raising capital and growing their strategic relationships, aided by facilitation and introductions by nestGSV’s professional staff.

Known specifically as a healthcare and music-centric city, Nashville has made a name for itself on nationwide lists of top entrepreneurial and startup cities. Jumpstart Foundry has capitalized on Nashville’s rise, inviting a select group of startup teams to participate annually in its 14-week cohort, which culminates in an investor showcase typically attended by more than 400 angel and venture investors.
Jumpstart Foundry COO, David Ledgerwood, talks about the investment Jumpstart Foundry makes in its alumni even after the accelerator cohort has graduated:

“Our alumni prosper in Nashville, and most of them want to stay here because it’s such a great place to live and work. Growing access to Silicon Valley’s funding and corporate infrastructure adds another meaningful dimension to the Jumpstart Foundry value proposition. Our startups can grow their networks in the Valley while benefiting from all that Nashville has to offer them as founders. It’s a win/win.”

The partnership offers much more than prime office space. nestGSV’s staff will facilitate the first 30 days of each company’s stay via a guided process that will make warm introductions to entrepreneurs, angels and VCs, corporate, tech and strategic partners who can help the companies get off to a fast start. Jumpstart companies will then spend the next two months following up and developing key relationships.

“The partnership with Jumpstart Foundry is in line with our vision of supporting the Global Silicon Valley. We are excited about the opportunity to work with different accelerator programs, such as Jumpstart Foundry, to help them join us in developing a global standard around entrepreneurship so the focus is less about where companies come from and more focussed on identifying the best companies by sector, thus taking the bias out of geography,” said nestGSV CEO Kayvan Baroumand. “As opposed to saying that all startups need to move to Silicon Valley, we are encouraging companies’ core teams to continue building their companies at home while leveraging key elements of the Silicon Valley ecosystem for fundraising and strategic partnerships.”

JSF recently partnered with F6S to launch a more interactive, socially connected application which potential teams can access at jumpstartfoundry.com. The new application lets teams and individuals connect via LinkedIn, start and complete the application during different work sessions, and submit it for evaluation. The F6S platform also allows startups to access some $300,000 in perks and deals.

Jumpstart Foundry Managing Director, Marcus Whitney, talks about the bigger picture that can come from the mixing of startup ecosystems:

“Cross-pollinating the Nashville and Silicon Valley networks will strongly benefit our alumni. We want to help them access the capital and relationship assets available on the West Coast as an additional benefit to joining the Jumpstart program.”

Managing Director, Vic Gatto reminds applicants how competitive the Jumpstart Foundry program has become, “We anticipate fewer than 5% of applicants will be selected this year. Getting an application in early helps us focus on your team and your plan before we get inundated with hundreds of applications in the final week. We highly recommend submitting early, especially in light of these new benefits, which are sure to enhance interest in our program even further. We believe this partnership will add incredible value to our high potential alumni.”

About Jumpstart Foundry

Jumpstart Foundry (JSF) fast-tracks successful technology businesses from launch to investment through a 14-week, mentor-driven acceleration program capped by an Investor Day showcase. JSF startups– principally comprised of healthcare IT, data systems and social engagement tools –capitalize upon resources and guidance from a hand-selected group of professional mentors who bring a wealth of experience from a variety of fields. Jumpstart Foundry is a proud partner of the Nashville Entrepreneur Center and the Global Accelerator Network.
For more information, please visit http://jumpstartfoundry.com

About nestGSV

nestGSV is more than just a place; it’s a way of doing business. As the world’s first “ecobator”, nestGSV furnishes a rich ecosystem of services essential to the success of emerging technology companies. We bring together entrepreneurs, investors, large corporations, professional service providers, governments and educational institutions to drive collaborative innovation, successful market adoption and growth. Our ecobator model fosters supportive relationships between players in the innovation economy that create mutual benefit for all involved parties.

For further information, visit the nestGSV website at http://www.nestgsv.com. 
Facebook: http://www.facebook.com/joinnestgsv and Twitter: @nestgsv

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Iris Capital and Capnamic Ventures have agreed to a partnership for making early stage investments in Germany. Iris Capital’s early-stage vehicle, OP Ventures Early Stage, will co-invest with the newly launched  Capnamic Ventures Fund. The cooperation may also extend to later stage investments in Germany.

PRESS RELEASE

Iris Capital and Capnamic Ventures have entered a new partnership for early-stage investments in the German digital economy

Paris, Cologne, Berlin, March 14, 2013 – Iris Capital, a leading pan-European VC focusing on digital economy, backed by its main corporate investors Orange and Publicis, and Capnamic Ventures, a rapidly rising player on the German VC scene, which recently spun off from the DuMont Schauberg media group, have entered into a partnership agreement for early-stage investments in Germany.

The Iris Capital early-stage vehicle (‘OP Ventures Early Stage`) is dedicated to European investments. It will co-invest alongside the newly launched multi-corporate Capnamic Ventures Fund in fast growing start-ups of the German digital economy. The cooperation may also extend to later stage investments in Germany.
The two teams will closely cooperate in order to benefit most from their combined technical and business knowledge for investment decisions and portfolio management. In combining their efforts, they will also offer a broader international development perspective to their respective portfolio companies, benefiting in particular from Iris Capital’s presence in North America, Asia and the Middle East.

“Iris Capital has been investing in Germany for a long time. Considering that the German VC environment is particularly dynamic in Europe today, it is increasingly important to reinforce our presence in the early stage segment. Beyond our passion for VC, we share our strong focus on digital economy, spin-off history and innovative and unique multi-corporate approach with Capnamic. By joining forces, Iris and Capnamic will definitely represent a major European early-stage VC player”, declared Antoine Garrigues, Managing Partner at Iris Capital.

Sophie Dingreville, Partner at Iris Capital, has joined the investment committee of the Capnamic Ventures fund. “Our respective early-stage vehicles, both operational and already investing, were launched simultaneously. This is rather unique in fund cycles and builds the perfect ground for a successful collaboration”, she said.

Christian Siegele, Managing Partner at Capnamic Ventures, explained: “We associate well- known corporate investors and successful family offices. The partnership with Iris Capital creates a new level of added value: Iris LP’s Orange and Publicis are leader in the European telecommunication and advertisement market. In cooperation with our investors from the entertainment and publishing sector, we will create a complementary partnership.”

“With Iris Capital as our partner for early-stage investments, we will reach an unparalleled set-up in continental Europe” said Jörg Binnenbrücker, Managing Partner at Capnamic Ventures. “Both teams combine their excellent market knowledge and will thereby enlarge as well as enrich the opportunities for fast-growing startups in Europe.”

About Iris Capital

Iris Capital is a pan-European venture capital fund manager specializing in digital economy. Since its inception in 1986, the Iris Capital team has invested more than €900 million in more than 210 companies.
Iris Capital targets opportunities in service or technology companies, seeking growth capital in order to realize their strategy. It provides active support to its portfolio companies on the basis of its strong sector specialization and experience, and has offices in Paris, Düsseldorf, San Francisco, Montreal, Riyadh, Dubai, Beijing and Tokyo.

In 2012, Iris Capital has entered into a strategic partnership with Orange and Publicis to manage their joint venture capital initiative.

| Press contact: [email protected] | + 33 1 44 50 54 74

About Capnamic Ventures
Capnamic Ventures is a multi-corporate fund with offices in Cologne and Berlin, Germany. Founded in January 2013 the investment focus lies on fast growing business models along the digital value chain and scalable areas such as mobile, e-Commerce, gaming, payment, advertising and software as a service.
Capnamic is backed by well-known corporate investors and family offices. Along with its new fund, Capnamic Ventures will take over management of the entire portfolio of DuMont Venture. The investment vehicle of M. DuMont Schauberg is currently holding over 20 portfolio companies.

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French company EyeTechCare SA said it raised a $13 million third round of funding from private investor Bernard Chauvin as well as existing investors Omnes Capital (formerly Credit Agricole Private Equity) and the Lyon-based insurer SHAM. The company is developing medical devices for the ophthalmology market.

PRESS RELEASE

EyeTechCare raises EUR ten million in a third round of funding

The funding will be used to complete the EyeTechCare EyeMUST 2 international clinical trial and to start the FDA registration process

Rillieux-la-Pape, France, March 12, 2013 – French company EyeTechCare SA, which develops non-invasive therapeutic medical devices for the ophthalmology market based on the use of ultrasound, today announces that it has secured a third round of funding amounting to EUR ten million. Bernard Chauvin, a private investor, has taken an equity stake in the company alongside two of the existing investors who also contributed to this round of funding: the capital investment company Omnes Capital (formerly Credit Agricole Private Equity) and the Lyon-based insurer SHAM.

Since its last round of funding in 2010, EyeTechCare has completed the EyeMUST 1 trial, which tested the EyeOP1 device on around sixty glaucoma patients in nine centers in France. In May 2011, EyeTechCare obtained the CE mark, allowing the company to start the marketing, sales and distribution activities required to bring EyeOP1 to market. The device has been introduced gradually to the European market since the end of 2012 and a number of European distribution agreements have been signed. The focus of EyeTechCare’s clinical activity is the EyeMUST 2 trial, which was launched in the second quarter of 2012 and involves ten international centers and 120 patients.

EyeTechCare plans to use the funds raised to complete its EyeMUST 2 international trial, with results due to be published in 2014. The company will also be able to fund the initial steps required by the FDA registration process. It plans to notify the FDA before the end of 2013 of its intention to bring the device to market.

“The simplicity of EyeOP1 comes from an uncomplicated yet brilliant idea: the use of ultrasound to treat glaucoma. Beyond the complex technical constraints, which have been incredibly well managed, there is a team with the desire to achieve their goal of helping patients,” said Bernard Chauvin, MD, private investor. “Quite simply, the results are there. I am proud to be associated with what is real therapeutic progress, particularly as it fits so well with my vocation as a doctor and an entrepreneur.”

“We’ve been excited by EyeTechCare’s market positioning right from the start. The arrival of this new investor will support the growth of the business,” said Alexia Perouse, co-head of venture capital activity at Omnes Capital. “The company’s prospects for development are very encouraging and the team in place has always been able to meet its self-imposed deadlines.”

“We’re truly honored to have the support of Bernard Chauvin, a renowned authority in the field of ophthalmology,” said Fabrice Romano, CEO of EyeTechCare. “It’s a real acknowledgement for EyeTechCare and our EyeOP1 product. This funding means that we can consolidate our presence on the European market and prepare for entry into the US market.”

EyeTechCare’s second round of funding in 2010 raised EUR 7.5 million from SHAM and Omnes Capital. In 2008, shortly after it was founded, EyeTechCare secured a first round funding of EUR 1.2 million from CEA-Investissement and Omnes Capital. This initial funding enabled the company to undertake the preclinical trials of its EyeOP1 device for the treatment of glaucoma.

Glaucoma is the second biggest cause of blindness worldwide. It is characterized by an increase in intraocular pressure. There is still no fully effective cure. Around 60 million people worldwide suffer from glaucoma. It is estimated that 8.4 million people are blind as a result. These figures are steadily increasing as the population ages. The forecast is that by 2020, 80 million people will be suffering from glaucoma and 11.2 million people will have lost their sight as a result of this disease. (Source: Canadian Ophthalmology Society)

Bernard Chauvin will sit on the company’s board of directors.

About EyeTechCare
EyeTechCare SA is developing non-invasive therapeutic medical devices for the ophthalmology market based on High-Intensity Focused Ultrasound (HIFU). HIFU technology allows ambulatory and rapid treatment to be performed, thereby limiting the cost and the risk to the patient.
The company’s first device, EyeOP1(R), is for the treatment of glaucoma, a disease that affects about two per cent of the world population and can lead to blindness. None of the therapies currently on the market provide a satisfactory cure for glaucoma. The treatments offered up to now have been constructed around eye drops, lasers and surgery, but they have limitations (low compliance, dependence on the operator, patient relapse, technical difficulties and so on).
EyeOP1(R) has been undergoing clinical trials in France and Europe and was launched onto the market at the end of 2012. The device utilizes the UC3 (ultrasound circular cyclo-coagulation) procedure, which makes it possible to reduce intraocular pressure by partially and accurately destroying the ciliary bodies that produce aqueous humor. The device obtained the CE mark in May 2011.
Based in Rillieux-la-Pape, near Lyon, France, EyeTechCare was founded in 2008 by three experienced managers with complementary expertise in the medical, industrial and regulatory fields. Today it employs close to 25 employees. The company has submitted eight patent applications in conjunction with the Lyon-based laboratory (Unit 1032) of Inserm, the French National Institute of Health and Medical Research. Since 2008, the company has secured nearly EUR 1.2 million in aid and subsidies from OSEO (the French innovation promotion agency), as well as official recognition from a number of state technology authorities. The company has raised a total of EUR 18.7 million since inception.
For more information, go to http://www.eyetechcare.com<http://www.eyetechcare.com>

Bernard Chauvin – Independent investor
Bernard Chauvin is a physician specializing in ophthalmology. He headed the Laboratoires Chauvin for 17 years (until its acquisition by Bausch and Lomb), prior to joining Neurotech, a French biotechnology company where he served as chief executive officer until 2004. Since then, he has taken an active role as a director in the development of a number of pharmaceutical and biotechnology companies.

About Omnes Capital (formerly Credit Agricole Private Equity)
Omnes Capital is a major player in private equity, with a commitment to financing SMEs. With EUR 1.9 billion in assets under management, Omnes Capital provides companies with the capital needed to finance their growth and with key expertise in a number of areas: LBO and expansion capital, venture capital in technology and life sciences, renewable energy, mezzanine, secondary funds of funds, co-investment. Omnes Capital, formerly Credit Agricole Private Equity, was a subsidiary of Credit Agricole until March 2012 when the company gained its independence. Omnes Capital is a signatory to the United Nations Principles for Responsible Investment (PRI).http://www.omnescapital.com

About Sham
Created in 1927, Sham is a mutual insurance company specialising in risk management for players in the healthcare and socio-medical sectors. Sham is the number one medical civil liability insurer in France. It has 7,509 members – individual and corporate – and manages EUR 1.5 billion in assets invested in a range of media. Through its global approach to risk management, Sham offers its members a range of insurance and services that are fully tailored to their specific requirements. Sham employs 300 people and achieved a turnover of EUR 296.9M in 2011.
Contact: Romain Durand, http://www.sham.fr

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XL Hybrids, Inc. said it raised $4 million in a Series B round of private investment with previous investors participating in the round. The company did not name its investors in a release. It said only that its investors include entrepreneurs and business executives from multiple industries, including automotive, energy, software and finance.

PRESS RELEASE

XL Hybrids Secures $4 Million In Series B Investment

Financing Will Support Product Growth Throughout North America

BOSTON, March 13, 2013 – XL Hybrids, Inc., provider of a low-cost hybrid electric powertrain designed for class 1 to 3 commercial fleet vehicles, today announced that it has raised $4 million in a series B investment round led by private investors, with previous investors also participating in the round. After developing its hybrid powertrain technology and validating it in the field with multiple Fortune 500 companies, XL Hybrids will use this funding to ramp up the delivery of its hybrid electric powertrain to existing and new customers.

Investors in this round include successful entrepreneurs and leading business executives from multiple industries, including automotive, energy, software and finance. While massive government loans and other sources of funding dry up for many cleantech companies, XL Hybrids has proven its ability to deliver fuel savings with a cost-effective technology, sell to large Fortune 500 companies and implement a capital-efficient business model. XL Hybrids’ hybrid electric powertrain reduces fuel consumption by 20 percent and can be installed in both new and existing vehicles. This type of system is ideal for companies operating commercial vans, box-trucks and shuttles in and around major urban markets.

“This round of investment enables us to start scaling our business and expanding our geographic reach.  We are working with customers that have large national and international fleets, and we can now help them save fuel and money at a larger scale,” said Tod Hynes, president and founder of XL Hybrids. “With support from our investors, XL Hybrids will continue to expand the availability of our hybrid powertrain and meet the demands of commercial fleets looking for a proven return on investment and reduced emissions.”

This latest investment round brings the total amount of funding for XL Hybrids to approximately $8 million. Earlier this quarter, XL Hybrids expanded its product line to offer hybrid powertrain technology for Ford E-Series vans; the company can now offer a compelling return on investment and significant emissions reductions to more than 75 percent of light duty van fleet buyers. XL Hybrids also signed an installation partnership and distribution agreement with Leggett & Platt Commercial Vehicle Products (CVP), providing its customers with ship-through ordering.

For more information on XL Hybrids technology and availability, visit www.xlhybrids.comor email info [at] xlhybrids.com.

About XL Hybrids
XL Hybrids designs, manufactures and installs hybrid electric powertrains for commercial vans and trucks. The company’s patent-pending hybrid electric powertrain can be installed on existing vehicles or as an upfit on new ones. By storing energy wasted in braking and reapplying it during acceleration, XL Hybrids technology decreases fuel use and carbon dioxide emissions by up to 21.2 percent on urban routes, while operating with the same durability and reliability as traditional vans and trucks.  XL Hybrids was founded by MIT alumni and is based in Boston. For more information, visit www.xlhybrids.com.

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Venture capital and private equity investing rose to a 5-year high across Latin America last year with firms putting $7.9 billion to work, a 21% increase over 2011. The data comes from the Latin American Private Equity and Venture Capital Association, which found that 237 deals were done, an increase of 37% from a year ago.

Brazil was the most active market with 72% of dollars invested and 62% of deals. Across the region, investments in consumer-related sectors were hot, capturing 40% of total capital.

Fundraising for 2012 was down sharply. Firms raised $5.6 billion in 42 closings, compared with $10.3 billion and 35 closings in 2011.

PRESS RELEASE

Private Equity and Venture Capital Firms Generate Record Investments in Latin America in 2012

LAVCA Releases 2012 Data on Private Equity & Venture Capital in Latin America

Private equity and venture capital firms committed $7.9bn to investments in Latin America in 2012, representing a five-year high and a 21% increase over 2011, according to data released today by the Latin American Private Equity and Venture Capital Association (LAVCA).

The $7.9bn total reflects 237 investments, a 37% increase in the number of deals from the previous year. Seven large firms that had raised over $11bn for pan-regional and Brazilian funds in 2010 and 2011 put that money to work in new deals across a range of markets and sectors.

Investments in consumer-related sectors dominated in 2012, capturing 40% of the $7.9bn total. Consumer retail represented $2.2b of investments, with the rest coming from deals in financial services, restaurants, education, fitness, healthcare and consumer goods. IT deals also posted strong growth in 2012, with both the number of IT deals and dollars invested in the sector more than doubling from 2011.

As in previous years, Brazil was the largest market for PE/VC investments in Latin America, accounting for 72% of the total invested and 62% of the total deals. In Mexico, the total number of deals was on par with 2011, but dollars committed increased by 50% over 2011. Activity in the Andean region was driven by an increasing number of cross border deals, with managers in Colombia, Peru in Chile investing across all three markets.

Fundraising for private equity and venture capital in Latin America in 2012 was dominated by smaller funds, with $5.6bn committed to 42 closings. The 2012 fundraising figure represents an important shift from 2010 and 2011, which saw record totals of $8.1bn and $10.3bn respectively, as managers targeted fund sizes under $500m. A total of 40 managers reported 42 partial or final closings in 2012, versus 35 partial or final closings from 28 firms in 2011.

Rather than representing a change in the appetite of international investors to commit capital to Latin America, the decrease shows a fundamental shift in the size of the funds being marketed.

“It was another dynamic year for private equity and venture capital in the region,” said Cate Ambrose, President of LAVCA. “We continue to see international firms moving into Latin America, at the same time that new funds are being formed across Brazil, Mexico, Peru, Colombia, Chile and other smaller markets. Fundraising was much less concentrated, with more firms in the market, as compared to previous years. That, and the record level of deals, point to a deepening and maturing of the investment ecosystem.”

One notable development in 2012 was the continued expansion of venture capital investment in technology companies in Brazil and other markets, with both international and Latin American VC firms raising new funds and backing new start ups.
Exit activity in 2012 returned to 2010 levels, following an extraordinary year in 2011 when two to three firms generated over $6bn from strategic sales and two large IPOs. A total of $3.8bn was generated in 44 exits in 2012, driven by a vibrant M&A market across Latin America.

-About LAVCA

The Latin American Private Equity & Venture Capital Association (LAVCA) is a not-for-profit membership organization dedicated to supporting the growth of the private equity and venture capital industry in Latin America and the Caribbean. LAVCA’s membership is comprised of over 150 firms, from leading global investment firms active in the region to local fund managers from Mexico to Argentina. Member firms control assets in excess of $50 billion, directed at capitalizing and growing Latin American businesses.

LAVCA has been collecting proprietary data on PE/VC in Latin America since 2008 when the first LAVCA Industry Data survey was conducted. LAVCA Industry Data is based on a confidential survey of fund managers and secondary sources, creating the first reliable source of data on private equity and venture capital in Latin America. The number of LAVCA member firms and other industry participants reporting investment activity continues to increase year-on-year, reaching nearly 250 in 2012.

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Innovid said it raised $11 million in Series C funding from existing investors Sequoia Capital, Genesis Partners, and T-Venture and new investor Vintage Investment Partners. The funding will enable the company to expand to new screens, including gaming consoles, connected TVs and broadcast TVs, alon with supporting its growth in video ad delivery to PCs, mobile devices and tablets.

PRESS RELEASE

Innovid Secures $11M in Series C Funding from Sequoia and Vintage Venture Partners

Latest funding positions Innovid to continue global growth and further expand its video advertising platform into new screens such as gaming consoles, connected TV, VOD and broadcast TV

New York, NY. — March 6, 2013 — Innovid, the technology platform delivering immersive video advertising anywhere, today announced that it raised $11 million in Series C funding. Existing investors Sequoia Capital, Genesis Partners, and T-Venture (Deutsche Telecom) participated in the round, with a new investment from Vintage Investment Partners. This announcement comes on the heels of a global leadership position in the agency video ad serving market with 450 percent year over year growth for the company. The funding will be used to continue Innovid’s rapid global growth in video ad serving across PC, mobile and tablet, as well as expand into new screens including gaming consoles, connected TV, video on demand and broadcast TV.

“Innovid’s swift worldwide growth is indicative of the advertising industry’s need for a platform that advances TV advertising to the next stage,” said Doug Leone, General Partner of Sequoia Capital, which has funded an unprecedented number of enormously successful companies including Google, Apple, LinkedIn and Cisco. “Leveraging its proven technology and experienced team, we are confident Innovid will fulfill its vision to revolutionize the world of TV advertising.”

Innovid’s video technology platform provides brands and marketers with the tools to create, deliver, and measure video advertisements from simple pre-roll campaigns to the most complex addressable and interactive units. The company’s iRoll® formats bring alive a new dimension for digital video, adding native, interactive elements to flat pre-roll ads. Marketers can insert interactive elements in their video ads, including games, contest entries, social apps, coupons, additional video, shopping carts, store locators, and any other creative ideas to capture viewers’ curiosity and create powerful, immersive experiences for consumers.

The company’s expertise has been widely validated in the industry. In fact, Innovid was recently selected as a winner of the IAB’s Digital Video Rising Stars and will join other winners in working groups to define the final specifications of interactive video formats for the industry. In addition, Innovid’s advanced video ad server is being used by global brands like Toyota, Nissan, Chrysler, Sony Pictures, Paramount, GSK, eBay, T-Mobile, EA, and Best Buy among others.

“TV ad spending in the U.S. alone was estimated to reach $70 billion last year. Imagine the increased value of those dollars when brands add personalization, interactivity and advanced measurability to their ads,” said Zvika Netter, co-Founder and CEO of Innovid. “Our technology is the first to bridge TV and digital by bringing together the powerful visual experience of video and the full personalized and interactive capabilities of the Internet.”

The latest funding brings Innovid’s venture funding total to approximately $27.6 million. The company previously received $3 million in Series A from Genesis Partners; $4.1 million in a venture round from Genesis Partners and T-Venture; and $9.5 million in Series B from Sequoia Capital, Genesis Partners and T-Venture.

About Innovid
Innovid delivers immersive advertising anywhere. Founded in 2007, Innovid provides visionary marketers with the tools to create, deliver and measure video campaigns, in any format, on any screen, publisher or ad network. Innovid’s Ad Server was developed to address the issues specific to video ad serving and simplify the process for agencies and marketers.  Bringing a new dimension to online video, Innovid’s iRoll reimagines the possibilities for interactive engagement across multiple screens.  For more information, visit www.Innovid.com.

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Fenwick & West released a new version of its Series Seed documents on GitHub. The law firm first released its term sheet documents in 2010 and says they have been used by many startups and some Silicon Valley venture capital firms. The new documents represent Version 3.0.

PRESS RELEASE

Series Seed Funding Documents Go Open Source @ GitHub

Silicon Valley Entrepreneurs and Investors Collaborate on New Release

MOUNTAIN VIEW, Calif., March 6, 2013 /PRNewswire/ – Today, law firm Fenwick & West announced a new version of the Series Seed documents is being released on GitHub. Since the initial release of the Series Seed documents in 2010, they have been used by numerous startup companies including investments from many of the Silicon Valley’s most prominent venture capital (VC) firms. Version 3.0 of the Series Seed documents is being released on the leading open source forum, GitHub, to encourage continued collaboration.

“The most valuable assets for early stage companies are time and money,” said Ted Wang, a Fenwick lawyer and the current curator of the Series Seed documents. “Series Seed endeavors to save both for young companies by simplifying early stage funding documents, getting signoff from VC firms who have agreed to use them, and making those documents available online for free.”

“One of our core beliefs at GitHub is to open source (almost) everything: the community benefits from having more resources available and the projects benefit from having the input of the greater community,” said Tom Preston-Werner, co-founder and CEO of GitHub. “That’s what makes the Series Seed project fun to see. Fenwick is bringing open source concepts to early stage funding documents and using GitHub to encourage community participation and collaboration.”

The new release provides a modern, technology-based approach to easily use traditional financing terms in seed funding documents by providing a standard set of rights, privileges and preferences with “fill in the blank” variables. This helps entrepreneurs avoid spending time and money negotiating over standard transaction terms and more clearly highlights the key variables in these seed transactions.

The Series Seed 3.0 documents are accompanied by a blog post “for law nerds and real nerds” describing the changes to the current versions and how to use them on GitHub.

Version 3.0 uses GitHub as the primary platform for managing discussions and updates to the Series Seed documents. GitHub is currently used by engineers to post software projects and highlight their work making it an excellent platform for community comments and facilitating multiple branches of the documents.
Visit the GitHub Seed Series documents at https://github.com/seriesseed

For luddites, a Word copy is available at http://seriesseed.com

About Series Seed
The Series Seed documents are a standardized set of documents that can be quickly and easily deployed for a seed investment:  to help get a company financed properly, legally, quickly, and intelligently.

About Fenwick & West

Established in 1972, Fenwick & West is one of the nation’s premier law firms with extensive expertise in venture capital, public offerings and other corporate finance, joint ventures, M&A and strategic relationships, intellectual property, litigation and dispute resolution, taxation, antitrust and employment and labor law.

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Athenian Venture Partners said Regi Kunnel has been named the firm’s controller. Kunnel has worked at GE Capital and the Easthill Group. Also at Athenian, Mary Strother was promoted to managing director, investor relations, and Danielle Allison to vice president of operations.

PRESS RELEASE

Athenian Venture Partners Appoints Regi Kunnel Controller 

20-Year Financial Professional Joins Firm; Investor Relations and Operations Heads Promoted

ATHENS, Ohio – March 4, 2013 – Athenian Venture Partners, a venture capital firm investing in information technology and healthcare companies, announced today that Regi Kunnel has been named the firm’s controller. Kunnel brings more than 20 years of experience in accounting, finance, operations management and management consulting to the firm. Additionally, Mary Strother was promoted to managing director, investor relations and Danielle Allison to vice president of operations.

Kunnel’s responsibilities include oversight of all financial operations including accounting, tax and financial reporting, as well as financial modeling and analysis. Prior to Athenian, his career spanned appointments with multi-divisional and global organizations, such as GE Capital, and private organizations, including the Easthill Group. He holds a Bachelor of Science degree in accounting from Drexel University and a MBA from St. Joseph’s University in Philadelphia, PA.

“Regi’s decades of financial management experience across multiple industries will be a great asset to Athenian and our portfolio companies, as will Mary’s and Danielle’s continued leadership in marketing and operations” said Karl Elderkin, founder and managing partner, Athenian Venture Partners. “We welcome Regi to the firm and congratulate Mary and Danielle on their promotions. Together, the three appointments position Athenian, our portfolio companies and limited partners for continued success.”

As Managing Director, Investor Relations, Strother will increase her focus on leading firm initiatives with respect to fundraising, marketing, investor communications and public relations. Having joined the firm in 2007, Strother also works broadly across Athenian’s investment management business,  participating in deal sourcing, deal flow, investment screening and the due diligence process. Strother is also involved in the local community, consulting for early stage businesses with patented IP, leading broad go-to-market efforts, as well as seeking and negotiating deal terms with angel investors.

Allison will maintain her core focus on the coordination of quarterly reporting efforts and deal flow tracking, human resources management, events planning and logistical support for the Athenian partners and staff in addition to focusing on fundraising and marketing as part of her increased responsibilities as vice president of operations.  She joined Athenian in 2000.

About Athenian Venture Partners

Athenian Venture Partners identifies and cultivates intellectual capital in two of the most dynamic market segments: Information Technology and Healthcare. The Athenian team takes a thoughtful approach to investing, doing the rational work upfront with accountability to both its investors and its portfolio companies. With a presence in California, Massachusetts Ohio and Florida, Athenian Venture Partners spans the most interesting technology and healthcare communities to create new investment opportunities others may miss and deliver proven results for the long term.

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Twilio and 500 Startups said the newly formed Twilio Fund Europe 2013 will be managed by 500 Startups  founding partner Dave McClure. The micro fund will provide seed funding to startups in Europe that make use of Twilio’s cloud communications APIs.

PRESS RELEASE

Twilio and 500 Startups Announce Twilio Fund Europe 2013

New micro-fund focuses on seed funding for European startups who use Twilio

LONDON, March 1, 2013 /PRNewswire/ – Twilio (http://www.twilio.com), the cloud communications company, and 500 Startups, today announced Twilio Fund Europe 2013, a new micro-fund for Twilio powered startups from Europe and surrounding countries. In addition, the 2012 Twilio Fund finalists have been announced, closing out last year’s fund.

(Logo:  http://photos.prnewswire.com/prnh/20121016/SF94172LOGO)

The new Twilio Fund Europe, announced today on stage at London Web Summit 2013 by CEO Jeff Lawson, will provide seed funding to startups throughout Europe making use of Twilio’s cloud communication web service APIs. As with the original US-based fund, Twilio Fund Europe will be managed by 500 Startups (http://500.co/) founding partner Dave McClure, an investor with experience managing platform funds. McClure previously managed the 2009 fbFUND Rev on behalf of Facebook, Accel Partners, and Founders Fund.

“I’m being Captain Obvious to say that that there is incredible innovation happening in Europe. Entrepreneurs in those countries often have limited access to venture capital,” said Dave McClure, founder 500 Startups. “We’re already investing actively all around the world, Europe included. So we’re pumped to be continuing with Twilio Fund Europe.”

In addition to the upfront investment from 500 Startups, successful applicant companies will also receive free Twilio credits to be used as they see fit, as well as an all expenses paid trip to San Francisco to feature at Twilio’s own annual conference, TwilioCon. Supported startups will also benefit from publicity support via Twilio’s PR and Marketing.

“It is our pleasure to continue to work with 500 Startups on the Twilio Fund,” said Twilio CEO and Co-founder Jeff Lawson. “We are very enthusiastic about the level of quality we see among European entrepreneurs. We can’t wait to see what they build.”

Companies eligible for Twilio Fund Europe will be either building or about to launch a product or service powered by Twilio’s web service APIs. They must be privately held, less than five years old, and have to date received less than $1m in funding.

Twilio Fund has made over a dozen investments to date, including the 2012 finalists, announced Wednesday on the Twilio blog;Babelverse, Call Loop, Healthsouk, Sessions, and Wedgies. Previous recipients include TalkDesk, Mobonics, FastCall, Magnolia Prime, OrderMapper, Turnstar. Twilio Fund is a microfund created by 500 Startups and launched in September 2010 to provide seed capital to startups built on the Twilio cloud communications platform.

500 Startups and Twilio will be looking for applicants that display a combination of talent, innovation and creative use of the Twilio API. Submission criteria will include:
•    Founder experience and background
•    Early market traction
•    Innovative use cases targeting real issues in its respective industries
•    Creative application of the Twilio API and platform

From today, aspiring startups are invited to apply for Twilio Fund Europe 2013 through the following form. Submissions are due by 07:59 CET / 06:59 GMT 1st May, 2013: http://www.twiliofund.com/apply-to-twilio-fund/

About 500 Startups
500 Startups is a global seed fund and mentorship-driven startup accelerator program that focuses on helping startups succeed through usable design, customer-focused metrics, and scalable distribution. 500 Startups is based in Mountain View, California, but their portfolio companies, mentors, and advisors come from all around the world. Learn more at 500.co.

About Twilio
Twilio (www.twilio.com), the cloud communications company, is reinventing telecom by merging the worlds of cloud computing, web services and telecommunications. Twilio provides a telephony infrastructure web service in the cloud, allowing web developers to integrate phone calls, text messages and IP voice communications into their web, mobile and traditional phone applications. The company is privately held and is headquartered in San Francisco, California.

 

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Sumeet Jain announced on his blog that he has joined Intel Capital as an investment director to focus on consumer Internet, mobile Web and software investments. He was previously a partner at CMEA Capital, joining the firm in 2008 and sitting on boards at Apriso, Blekko, Intermolecular, Luminate, WorkingPoint and Zarly.

Jain said he would “continue to seek out teams (that) build delightfully simple products and services (that) feed off of massive data and intelligence” around them.

Here is a link to his blog entry.

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VIC Technology Venture Development said it formed the VIC Investor Network, a new fund that will place $250,000 into every new portfolio company VIC forms. VIC estimates more than 100 high paying jobs will be created in its portfolio companies over the next 3 years.

PRESS RELEASE

VIC Investor Network to Significantly Accelerate Technology Company Growth

VIC™ Announces $250,000 Startup Funding for Every New Company It Forms

Fayetteville, AR – February 21, 2013 – Today, Calvin Goforth, Chief Executive Officer and Founder of VIC Technology Venture Development™ (VIC™), announced the formation of the VIC Investor Network, a new fund that will significantly accelerate and expand technology venture development in Arkansas. The VIC Investor Network will place $250,000 start-up capital into every new portfolio company that VIC forms. Start-up capital is the most difficult funding to acquire. The VIC Investor Network funding will allow VIC to jumpstart its new portfolio companies and significantly shorten the average company development time.

Dr. Goforth made the announcement at VIC’s offices, following a presentation by Mitch Horowitz, Vice President & Managing Director of Battelle Technology Partnership Practice of Cleveland, Ohio. Mr. Horowitz led an in-depth 2012 Battelle study entitled Arkansas’ Knowledge Economy Initiatives. He spoke about the importance of technology based economic development for Arkansas’ future economy, the benefits of the state’s incentive programs for encouraging such development, and he introduced the unique role VIC plays:

“VIC fills key challenges and gaps for technology based economic development efforts by bringing together the initial management, product development, business development, and administrative teams needed to launch successful companies based on university inventions.”

With the VIC Investor Network in place, VIC will now be adding four new companies to its portfolio each year. This is approximately triple VIC’s previous rate of expansion. VIC estimates that over 100 high paying jobs of the future will be created in VIC portfolio companies over the next 3 years. VIC will also be adding additional sites across the country as it has developed and proven a uniquely effective business model for translating university research into outstanding young technology companies.

Following today’s announcement, guests were able to interact with several VIC portfolio companies showcasing their new products and services, and meet the CEOs and teams advancing them. One company, Ascendant Diagnostics™, is developing a screening test to detect early-stage breast cancer with just a tear sample. Another, CardioWise™, is perfecting a single diagnostic test that will provide unprecedented information about heart health. Yet another, BioDetection Instruments™, has developed an instrument that provides rapid detection of bacteria and other contaminants in food, water, and beverages that is portable, easy to use, and reliable.

For the past nine years, VIC has been quietly building cutting-edge, world-class technology companies in fields ranging from nanotechnology and cancer diagnostics to pharmaceuticals and semiconductors in Northwest Arkansas. VIC has developed a unique business model for forming and developing companies based on licensed early stage technologies from top research universities across the country. Each year, over $60 billion dollars of funding goes into sponsored research at universities resulting in thousands of new inventions. Most of these technologies do not get commercialized because there is a significant gap between the stage at which larger companies will license a technology, or at which most venture capital firms will invest in a technology, and the stage to which the technologies are developed within a university.

VIC’s business model was specifically developed and optimized to fill this gap. VIC’s method of building companies using a shared resources model where technical, business, financial, and legal expertise are brought together, allows for lower costs and higher success rates. VIC has attracted world-class talent and multiple breakthrough products have been brought to market. Key achievements to date include:

• Twelve portfolio companies based on large market potential disruptive technologies
• Over $30MM in federal grant funding into portfolio since 2003
• Multiple innovative, large market opportunity products brought to market
• Average wage of about $90,000
• Rapid value growth in portfolio companies estimated at over 40% per year average
• Successfully translated VIC business model to Boston, MA area with opening of Atlantic VIC

The VIC Investor Network, combined with VIC’s unique business model for technology commercialization, is expected to facilitate unprecedented growth in science and engineering based technology enterprise development in Arkansas.

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OTI Greentech Group AG said it raised about $4.4 million in a deal led by Wermuth Asset Management’s Green Gateway Fund, also known as the Europe Tatarstan Cleantech Fund. The funding is the first tranche in a commitment that will grow to about $7.7 million. The second tranche is expected later in 2013.

PRES RELEASE

OTI Greentech successfully completes expansion funding with Green Gateway Fund as lead investor

§  OTI Greentech raises c. CHF 4 million (EUR 3.4 million) for long-term expansion
§  Green Gateway Fund has committed total funding of CHF 7.2 million (EUR 6 million), second tranche planned to invest later this year
§  Funds will be used to expand business mainly in North America, the Middle East and Russia
§  Green Gateway to appoint a Non-Executive Director to the OTI Greentech Board of Directors

Zug, Frankfurt am Main, 21 February 2013. OTI Greentech Group AG, a leading provider of sustainable cleantech solutions successfully closed a round of expansion financing, raising a total of CHF 4 million (EUR 3.3 million). The funding was led by Wermuth Asset Management’s Green Gateway Fund, which invests in best-in-class energy and resource efficiency growth companies throughout Europe. The funding marks a solid base for the long-term expansion plans of the company. In total, the financial commitment of Green Gateway Fund is CHF 7.2 million. The second tranche is expected in 2013

With the cleaning of tanks and ships, the remediation of oil-contaminated land or the separation and recycling of oil from waste streams, OTI Greentech covers a broad range of next generation applications for oil-related contamination and waste. OTI Greentech’s awarded and patented EcoSOLUT™ products have been used by various international shipping, oil service and waste management companies. EcoSOLUT™ products are high-performance “green” chemicals, which reduce cleaning cycles and meet more advanced health, safety and environmental standards than traditional chemicals used in the industry. Demand for the products has increased significantly, requiring the company to expand its international distribution network as a matter of priority. The funds will be used to expand the business mainly in North America, the Middle East and Russia and to strengthen the company’s intellectual property portfolio.

“We have seen strong interest from international investors in general. Completing the expansion funding was an important milestone for OTI Greentech. We are redefining standards in the industry in regards to efficiency, safety and sustainability. In the Oil and Energy sector our products show unique characteristics in treating waste streams from oil production, particularly with unconventional oil reservoirs such as oil sands and heavy oil”, stated Stephan Rind, President of OTI Greentech AG. “We are also pleased by our new Lead Investor, the Green Gateway Fund. The fund’s principals have vast experience in the energy and resource efficiency sector and a powerful network to support our business growth.” The Green Gateway Fund will appoint one non-executive member to the Board of Directors of OTI Greentech Group.

Green Gateway Fund Partner Casper Heijsteeg said: “We are delighted to have completed our investment in OTI Greentech. We see substantial potential for the company’s continued growth, and we believe we can support its expansion by investing new capital into the business, as well as by leveraging our own expertise and networks in this field and helping the company to access new growth markets, including Russia.”

Mountain Partners AG advised OTI Greentech in respect of this funding round.

About OTI Greentech AG

OTI Greentech is an internationally leading cleantech engineering group based in Switzerland. The company provides environmentally friendly solutions and a patented technology for cleaning, recovery and disposal of oil in a wide variety of applications. This includes the cleaning of tanks, ships and industrial machinery, oil recovery from sludge, soil remediation and the processing and extraction of oil from conventional and unconventional deposits.

About the Green Gateway Fund

The Green Gateway Fund was launched in the presence of Germany’s Chancellor Angela Merkel and Russia’s then President Dmitry Medvedev as the Europe Tatarstan Cleantech Fund (“ETCF LP”). The aim of the Green Gateway Fund is to invest in international best-in-class energy and resource efficiency growth companies, with an additional unique selling point of actively helping portfolio companies to access the fast-growing Russian and CIS markets through the gateway of Tatarstan, where fund adviser Wermuth Asset Management has more than a decade of successful experience investing and doing business. The fund is operational, has hard commitments of €110m and is targeting a final closing size of €250m.

About Wermuth Asset Management

Wermuth Asset Management GmbH, founded in the late 1990’s, is a German family investment firm that acts as an adviser on alternative and sustainable investments in Europe. WAM headquarters are located in Mainz, Germany with additional offices in Amsterdam, Moscow and Wiesbaden. WAM is the exclusive investment adviser to several funds and SPVs whose investors include high net worth individuals, family offices, funds of funds, banks, pension funds, endowments and sovereign wealth funds. WAM has attracted over $1bn into the Russian economy since it began operating in the region.

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The new Boston startup accelerator Bolt has raised financing from Autodesk, Logitech and Grishin Robotics, according to a press release. Other partners include Mick Mountz, founder of Kiva Systems and Brad Feld of Foundry Group. The accelerator plans to work with startups developing hardware, including robotics and consumer devices. It will accept 25 startups into its program over the next two years . Applications for batch one are now available.

According to a filing with Securities and Exchange Commission, it has raised $3.5 million.

PRESS RELEASE

Grishin Robotics invests in hardware incubator Bolt

February 20, 2013.  Grishin Robotics (http://grishinrobotics.com), the first venture capital firm in the world that is focused on consumer robotics, announces its investment into the Boston-based hardware incubator Bolt (http://www.bolt.io/), which helps hardware startups (including robotics and connected devices) with seed capital and an extensive mentorship program.

Along with Grishin Robotics,  there are another two strategic partners – Logitech and Autodesk – that also agreed to support Bolt’s startups with capital and parts/services. Among the prominent angel investors, partnered with Bolt, are Mick Mountz (Kiva Systems, acquired by Amazon) and Brad Feld (Foundry Group, investor in companies such as MakerBot and FitBit).

Over the course of the next two years, Bolt will accept 25 hardware startups into its program. The application process for the first batch opens today at www.bolt.io and will last for 2 months – 10-15 companies are going to be accepted for the 6-month program. Projects’ founders will receive seed capital, access to office and prototyping facilities, and extensive support from a full-time engineering/design staff and a wide array of hardware-centric mentors. Bolt’s program is focused on key aspects of ideation and development of any successful mass-market hardware products, including manufacturing and commercialization.

“The key to the upcoming consumer robotics revolution, I believe, is in the startup ecosystem. Talented hardware entrepreneurs, dreaming about a new generation of smart devices, do not have today a supporting community around, that is as developed as software developers do. That’s why we have decided to invest in Bolt – this is an investment into the market’s future”, said Dmitry Grishin, founder of Grishin Robotics and co-founder of the Mail.Ru Group.

«Hardware startups are typically at a major disadvantage compared to their software counterparts», said Bolt’s Managing Director Ben Einstein. “But this disadvantage means it’s ripe for disruption. We’ve built a model that changes the equation and enables startups to get capital – efficient hardware to market at unprecedented speed».

About Grishin Robotics

Grishin Robotics is a global investment company with a mission of advancing innovation in robotics for the mass consumer market. Grishin Robotics is focused on investing in personal robotics technologies. The firm is led by Dmitry Grishin, co-founder & CEO of Mail.Ru Group.

For more information, or to submit your company for investment consideration, visit http://www.grishinrobotics.com.

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Pearson said it launched an incubator program for startups addressing the education market. The Pearson Catalyst program seeks to match startups with Pearson brands to promote pilot programs and provide resources. Startups need to be less than three years old with products ready to launch. The program will incubate 10 teams of founders for at least three months starting in mid April. Startups will continue to work out of their existing offices and receive up to $10,000 for travel.

PRESS RELEASE

INTRODUCING PEARSON CATALYST, THE EDTECH INCUBATOR PROGRAM FOR STARTUPS

World’s leading learning company to help education startups jumpstart their companies and break through on a global scale

LONDON AND SAN FRANCISCO – February 20, 2013 – Pearson, the world’s leading learning company, today announced the launch of Pearson Catalyst, a new startup incubator program to identify the most promising education startup companies that share Pearson’s commitment to improving people’s lives through learning, and help enable them to break through on a global scale. The Pearson Catalyst incubator program aims to match startups with Pearson brands to deliver pilot programs and offer access to Pearson resources and product experts, including the opportunity to work closely with a Pearson brand over the course of the program.

“Pearson Catalyst reflects our desire to be more open and work with forward thinking companies to solve the biggest challenges in global education,” said Diana Stepner, Head of Future Technologies at Pearson. “We believe the future of learning is digital, personal and driven by data – and bringing together Pearson and startups is the perfect combination to build the best future of education today.”

The Pearson Catalyst incubator program is looking for dynamic, technology-centric, startup teams with a mix of talent, that have been up and running for less than three years and who have viable products that are ready for launch in the market. The ideal startup companies will have a product or products that complement or enhance a Pearson brand. Pearson Catalyst will incubate and accelerate up to ten teams of founders for at least three-months starting in mid-April. Startups will continue to work and be based out of their existing offices, with the potential to meet at Pearson offices as well.

Startups selected to participate in Pearson Catalyst will receive:

•    Access to Pearson executives and product experts and the opportunity to be matched with a Pearson company, including a top Pearson executive as key sponsor
•    The opportunity to present at a Pearson demo day in November 2013 to Pearson executives and technology leaders
•    Up to $10K for travel and related costs

Interested education and edtech startups can apply now by emailing [email protected]. .

About Pearson

Pearson is the world’s leading learning company, providing educational materials and services, business information through the Financial Times Group, and consumer publishing through the Penguin brand. Pearson serves learners of all ages around the globe, employing 41,000 people in more than 70 countries. For more information, visit www.pearson.com and watch our video here.

Follow @PearsonAPI on Twitter to get the most up-to-date news about Pearson Catalyst or email [email protected] for more information.

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A key private equity and venture capital index measuring returns in Australia rose by 2.90% in the third quarter of 2012, according to a report from the Australian Private Equity and Venture Capital Association. For the 12 months ending September, the index rose by 6.44%, but trailed the S&P/ASX 300 Index’s gain of 14.46%.

PRESS RELEASE

Australian Private Equity Continues to Post Steady Returns in Q3 2012

BOSTON, MA and SYDNEY, AUSTRALIA–(Marketwire – February 06, 2013) – The Cambridge Associates LLC Australia Private Equity and Venture Capital Index (C|A Australia Index) rose by 2.90% in the third quarter of 2012, according to the latest quarterly report released by The Australian Private Equity and Venture Capital Association Ltd (AVCAL) today.

For the 12 months ending 30 September 2012, the C|A Australia Index rose by 6.44%. Over the same period, the S&P/ASX 300 Index surged to record a return of 14.46%.

However, over the longer 3- and 5-year horizons the C|A Australia Index outperformed the public equities index, rising by 8.33% and 2.97% respectively on an annualised, net of fees basis compared to the S&P/ASX 300 Index’s 1.69% and -3.61% annualised returns over the same horizons.

In the twelve months leading to 30 September 2012, a total of AU$2.2B was distributed back to LPs while $2.3B was drawn down.

Australian Private Equity & Venture Capital Association (AVCAL) CEO Dr Katherine Woodthorpe said, “The Index continues to demonstrate how private equity as a whole has consistently generated stable returns over the long term compared to the more volatile listed markets, on an after-fee basis.”

Eugene Snyman, Managing Director at Cambridge Associates’ office in Sydney, Australia, said: “While the strong performance of both public and private indices in the third quarter is good news to investors overall, we continue to see Australian private equity and venture capital offering greater stability long term.”

The report is published on the AVCAL website www.avcal.com.au.
Cambridge Associates LLC Australia/AVCAL Index Returns for the period ending 30 September 2012

—————————————————————————-
Index (A$)          1-Quarter  YTD   1-Year  3-Year  5-Year  10-Year
—————————————————————————-
Cambridge Associates LLC
Australia Private Equity
& Venture Capital Index
(A$)(1)                      2.90     4.12   6.44    8.33    2.97    7.06
—————————————————————————-
Cambridge Associates LLC
Australia Private Equity
& Venture Capital Index
(US$)(1)                     4.34     5.51  14.00   14.23    7.14    12.90
—————————————————————————-
S&P/ASX 300 Index             8.75    16.52  14.46    1.69   -3.61    8.57
—————————————————————————-
S&P/ASX Small Ordinaries
Index                        7.25     5.97   3.83   -0.91   -7.50    7.84
—————————————————————————-
UBS Australia Bank Bill
Index                        0.90     4.15   4.34    4.55    5.12    5.40
—————————————————————————-
UBS Australian Composite
Bond Index                   1.98    10.09   9.55    8.64    8.28    6.60
—————————————————————————-

The Cambridge Associates LLC indices are an end-to-end calculation based on data compiled from 61Australia private equity and 22 Australia venture capital funds, including fully liquidated partnerships, formed between 1997 and 2012. 
(1) Pooled end-to-end return, net of fees, expenses, and carried interest.
Sources: Cambridge Associates LLC, Bloomberg L.P., Standard & Poor’s, Thomson Reuters Datastream, UBS AG and UBS Global Asset Management.

About Cambridge Associates

Founded in 1973, Cambridge Associates is a provider of independent investment advice and research to institutional investors and private clients worldwide. Today the firm serves over 900 global investors and delivers a range of services, including investment consulting, outsourced portfolio solutions, research services and tools (Research Navigator(sm) and Benchmark Calculator), and performance monitoring, across all asset classes. The firm compiles the performance results for over 5,000 private partnerships and their more than 65,000 portfolio company investments to publish its proprietary private investments benchmarks, of which the Cambridge Associates LLC U.S. Venture Capital Index® and Cambridge Associates LLC U.S. Private Equity Index® are widely considered to be among the standard benchmark statistics for these asset classes. Cambridge Associates has more than 1,000 employees serving its client base globally and maintains offices in Arlington, VA; Boston; Dallas; Menlo Park, CA; London; Singapore; Sydney; and Beijing. Cambridge Associates consists of five global investment consulting affiliates that are all under common ownership and control. For more information about Cambridge Associates, please visitwww.cambridgeassociates.com.

About AVCAL

AVCAL is the voice of venture capital (VC) and private equity (PE) in Australia. Our membership includes 54 domestic and international VC and PE managers active in Australia as well as pension/super funds, service providers and other stakeholders. AVCAL is active in communicating, researching and advocating the significant contribution that VC and PE makes to the broader Australian economy. Australian VC and PE firms manage over $29bn in funds under management. They provide capital and expertise to companies in a range of business life-cycles: start-ups, SMEs and large organisations. AVCAL VC and PE members focus on enhancing innovation, productivity, entrepreneurial activity and sustainability in the companies they invest in. Australian VC and PE firms back more than 500 companies which employ over 100,000 full-time equivalent jobs. Since records began in the late 1990s, the industry has distributed around AU$16 billion to its limited partner investors which include pension/super funds, institutions and governments.
www.avcal.com.au www.twitter.com/avcal1 www.linkedin.com/in/avcal

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Cohera Medical, Inc. said it added to its Series D financing by raising another $7.3 million. The company had raised $9.7 million in 2012 with the round now totaling $17 million. No investors were named in a press release, however one backer of the company is Kern Whelan Capital.

PRESS RELEASE

Cohera Medical, Inc.® Raises $17 Million in Series D Round

Major milestones and industry accolades fuels investor confidence

PITTSBURGH, Feb. 15, 2013 /PRNewswire/ — Cohera Medical, Inc.®, a leading innovator and developer of absorbable surgical adhesives and sealants, announced today that it has secured $17 million towards Series D financing through private investors. The milestone comes from raising an additional $7.3 million in the Company’s latest offering, in addition to the $9.7 million raised in 2012.

The Company will use the funds to expand adoption in Germany and additional European markets for its TissuGlu® Surgical Adhesive, an internal surgical adhesive for large flap surgeries that eliminates or reduces fluid accumulation and the need for post surgical drains allowing for more natural healing and potentially faster recovery.

Additionally, the funds raised will support the first No-Drain Clinical Study for TissuGlu in the United States, which was approved by the FDA late last year. Cohera also plans to begin human clinical trials in Europe for its Sylys™ Surgical Sealant, designed to help surgeons performing colorectal procedures reduce anastomotic leakage. Such leakage is considered the most serious complication of bowel repair, causing one third of mortalities occurring after colorectal surgery.

“Cohera Medical has assembled world-class plastic and reconstructive surgeons who are using TissuGlu on their patients for more natural healing and faster recovery. The innovative technology that has made TissuGlu so successful illustrates the potential impact that its Sylys product will have in the investor community, another first-of-its-kind product in a billion dollar industry,” John C. Kern, Founder and General Partner of Kern Whelan Capital, LLC, and Manager of Kern Medical IV.

“This funding milestone is instrumental, as we begin the No Drain Clinical Trial for TissuGlu in the United States and start human clinical trials of our Sylys product,” said Patrick Daly, President and CEO of Cohera Medical. “Our products have the potential to revolutionize how patients recover from many types of large flap procedures. From abdominoplasties and mastectomies to lymph node dissection in cancer patients and bowel procedures, our adhesive and sealant technologies will transform patient experiences.”

Currently, most patients who undergo abdominoplasty procedures and other large flap procedures require the insertion of drains to remove fluids that accumulate under the skin at the surgical site. In some cases, drainage is inadequate and the excess fluid accumulation (seroma) requires additional procedures for removal. The drains are often painful for the patient and can lead to infection and impact the recovery process.

TissuGlu adheres the tissue flap created during the procedure to the underlying tissue, helping to reduce the fluid that can accumulate in the space during healing and ultimately reducing the need for postoperative drains to remove the fluid. The ability to perform the procedure without drains would lead to a more comfortable recovery and a quicker return to normal activity for patients.

Cohera Medical received CE Marking approval for TissuGlu and began selling product to hospitals and surgeons in Germany in September 2011. An earlier no-drain study of 30 patients was successfully completed in Germany in July 2012. In the U.S., Cohera recently completed enrollment of a clinical trial for TissuGlu. TissuGlu has been used successfully in over 600 various surgical procedures by leading surgeons.

About Cohera Medical

Cohera Medical, Inc.® is a leading innovator and developer of absorbable surgical adhesives and sealants. The Company’s first product, TissuGlu® Surgical Adhesive, is an internal surgical adhesive for large flap surgeries, such as abdominoplasty (tummy tuck), that eliminates or reduces fluid accumulation and the need for post surgical drains. TissuGlu’s chemical composition is resorbable, non-toxic, forms a strong bond between tissue layers and allows for natural healing, which ultimately may enable faster recovery. TissuGlu has received CE Marking approval to be sold in the European Union (EU). Cohera Medical is also developing a unique and proprietary bowel sealant, and a strong adhesive for mesh fixation. Outside of the EU, TissuGlu and the other Cohera products are currently indicated for investigational use only and have not yet been approved for medical use by the Food and Drug Administration (FDA) in the U.S. or in any other market. For more information, visit www.coheramed.com.

Certain statements made throughout this press release that are not historical facts contain forward-looking statements regarding the Company’s future plans, objectives and expected performance. Any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements.

 

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The Green Gateway Fund, also known as the Europe-Tatarstan Cleantech Fund and which is managed by Wermuth Asset Management, made its first investment by taking a minority stake in The Mobility House. The company is focused on home charging systems market for electric cars. No terms were disclosed.

Green Gateway Fund also named two senior partners: Russell Pullan and Benjamin Wilkening.

PRESS RELEASE

Wermuth Asset Management’s Green Gateway Fund Acquires Stake in The Mobility House

Frankfurt am Main, 15 February 2013 – The Green Gateway Fund, to which sustainable investment specialist Wermuth Asset Management GmbH (“WAM”) is the exclusive advisor, today announced that it has acquired a minority stake in The Mobility House (“TMH”).

TMH is a fast growing e-mobility solutions provider with operations in Austria, Switzerland, Germany and Scandinavia. The company enables automotive manufacturers to enter the market for electric mobility and to establish a product portfolio for their customers.  TMH is focused on home charging equipment installations and services around charging (including public charging reservation and green certificates), as well as energy management services.  Using its unique packages, companies and individuals can easily enter the electric mobility area, thereby walking away from fossil fuel consuming solutions from the past.

Commenting on the investment, Green Gateway Fund Partner Casper Heijsteeg said: “We have been extremely impressed with TMH in terms of the quality of business, the vision of the management team and the company’s high growth prospects.  We see this investment not only as a financial investment but also as a strategic partnership as we collectively seek opportunities to develop TMH further into a leading global business.”

TMH CEO Thomas Raffeiner said: “We are delighted that Green Gateway Fund has decided to come onboard and to support our future growth as a company.  We are closely aligned in our strategic vision for the business, as well as having complementary sector and geographic expertise.  I am confident that this partnership will help to create significant and sustainable value for TMH.”

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Wermuth Asset Management Appoints New Partners to the Green Gateway Fund

Frankfurt am Main, 15 February 2013 – Wermuth Asset Management GmbH (“WAM”), the exclusive investment adviser to the Green Gateway Fund, is pleased to announce the appointment of Russell Pullan and Benjamin Wilkening as Senior Partners.

The aim of the Green Gateway Fund is to invest in international best-in-class energy and resource efficiency growth companies, helping portfolio companies access the high-growth Russian and Commonwealth of Independent States (“CIS”) markets through the gateway of Tatarstan.

Commenting on the appointments, Wermuth Asset Management founder and CIO Jochen Wermuth said:

“Russell and Benjamin further strengthen our energy and resource efficiency team and bring a wealth of relevant experience to the Fund.

“Russell is one of the pioneers in clean energy investing, with 25 years of international experience in the energy and resource efficiency sector.  Among his career highlights are helping Saudi Aramco to structure a $500m corporate venture fund for renewable energy production and industrial efficiency. Before that he established and directed the global private equity clean energy and new technology fund for Nomura, the leading Japanese investment bank. He began working in private equity as head of venture capital for Carbon Trust in 2003, and first worked in Tatarstan and Russia twenty years ago.

“Benjamin, former McKinsey consultant, has 20 years of experience in private equity and strategic consulting, including most recently seven years as a Partner at Mint Capital, where he co-managed a $130m Moscow-based Scandinavian private equity fund providing growth capital to small and mid-sized entrepreneurial companies.”

Russell and Benjamin will join forces with current Senior Partners Casper Heijsteeg, Michael Ludwig, Jochen Wermuth and the existing team of Principals Polina Burnos, Jeroen Meinders and Roman Samsonov.

The Green Gateway Fund has made its first two investments and is in advanced stages of negotiations with one other, which it intends to close in Q1 2013. The Fund has a rich pipeline of expansion-stage Western European companies that are interested in expanding their business into the high-growth markets of Russia and the CIS.

About the Green Gateway Fund
The Green Gateway Fund was launched in the presence of Germany’s Chancellor Angela Merkel and Russia’s then President Dmitry Medvedev as the Europe Tatarstan Cleantech Fund (“ETCF LP”).The aim of the Green Gateway Fund is to invest in international best-in-class energy and resource efficiency growth companies, with an additional unique selling point of actively helping portfolio companies to access the fast-growing Russian and CIS markets through the gateway of Tatarstan, where fund advisor Wermuth Asset Management has more than a decade of successful experience investing and doing business. The fund is operational, has hard commitments of €110m and is targeting a final closing size of €250m.

About WAM
Wermuth Asset Management GmbH, founded in the late 1990’s, is a German family investment firm that acts as an adviser on alternative and sustainable investments in Europe. WAM headquarters are located in Mainz, Germany with additional offices in Amsterdam, Moscow and Wiesbaden. WAM is the exclusive investment adviser to several funds and SPVs whose investors include high net worth individuals, family offices, funds of funds, banks, pension funds, endowments and sovereign wealth funds. WAM has attracted over $1bn into the Russian economy since it began operating in the region.   www.wermutham.com

About TMH
The Mobility House is an expanding e-mobility provider and promotes various solutions for its application in everyday life. Its services comprise electric vehicles, charging infrastructure, green energy as well as battery and energy management services. TMH offers customized solutions for the automotive industry, ensuring that electric vehicles can be charged safely, powered with environmentally friendly energy and optimized for storing energy.
ElectroDrive Europe is the retail brand by TMH.

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InVisage Technologies, Inc. said it raised a Series D round led by GGV Capital and joined by Nokia Growth Partners along with existing investors RockPort Capital, InterWest Partners, Intel Capital and OnPoint Technologies. The company did not release the size of the round.

PRESS RELEASE

InVisage Secures Series D Venture Funding

Funding round moves breakthrough QuantumFilm imaging products from R&D to manufacturing; includes investment from GGV Capital and Nokia Growth Partners

MENLO PARK, Calif.– February 13, 2013 – InVisage Technologies, Inc. – a Silicon Valley-based start-up that is revolutionizing the image sensor market – today announced it has received its Series D round of venture funding, led by GGV Capital and including Nokia Growth Partners. The undisclosed amount will be used to begin manufacturing the company’s QuantumFilm image sensors, which are currently being evaluated by phone manufacturers. Devices incorporating the technology are expected to ship in Q2 2014. GGV and Nokia Growth Partners join InVisage’s existing investors RockPort Capital, InterWest Partners, Intel Capital and OnPoint Technologies.

“InVisage is poised to make a tremendous impact on consumer devices and end users with its QuantumFilm image sensors,” said Thomas Ng, founding partner, GGV Capital. “Our investment focus and expertise are helping companies during this crucial expansion stage, and we look forward to working with the InVisage team as they scale their technology for the demands of the global mobile-device market.”

InVisage QuantumFilm is the world’s most light-sensitive image sensor for smartphones, capable of producing  gorgeous, high-quality photos in virtually any lighting condition. InVisage has transformed the image sensor by adding a thin layer of quantum dot film to produce highly sensitive image sensors that can be mass-produced using standard CMOS processes. Compared to current camera technologies, the InVisage QuantumFilm sensor provides incredible performance in the smallest package, making picture-taking foolproof, even in dimly lit rooms.

“The innovative QuantumFilm technology from InVisage has the potential to disrupt the market for silicon-based image sensors,” said Bo Ilsoe, managing partner of Nokia Growth Partners. “Imaging remains a core investment area for NGP, and it is our belief that InVisage’s technology will change how video and images are captured in consumer devices.”

“The participation of new investors, including a major handset maker, in this round signals that imaging is a critical differentiator in mobile devices,” said Jess Lee, CEO, InVisage Technologies. “For too long, the image sensor industry has lacked innovation. We are excited to bring stunning image quality and advanced new features that will truly transform this industry.”

More information on QuantumFilm and InVisage Technologies is available at www.invisage.com.

About InVisage Technologies, Inc.
InVisage Technologies, Inc. is a venture-backed, fabless semiconductor company based in Menlo Park, Calif. that has developed QuantumFilm, a breakthrough imaging-sensing technology that will replace silicon. Its first product enables high-fidelity, high-resolution images from handheld devices like camera phones and digital cameras. Founded in 2006, InVisage Technologies is venture funded by GGV Capital, Nokia Growth Partners, RockPort Capital, InterWest Partners, Intel Capital, OnPoint Technologies and Charles River Ventures. More information is available at www.invisage.com.

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Turner Broadcasting expanded its Media Camp startup accelerator program to Los Angeles. Already Turner, a division of Warner Bros. Entertainment, operates an accelerator in the Silicon Valley. Startups in the accelerator get 12 weeks of mentorship and access to executives, and financial incentives.

PRESS RELEASE

WARNER BROS. ENTERTAINMENT EXPANDS 
TURNER BROADCASTING’S SUCCESSFUL MEDIA CAMP ACCELERATOR PROGRAM

PROVIDES FINANCIAL INCENTIVES TO EARLY STAGE COMPANIES CREATING DISRUPTIVE ENTERTAINMENT TECHNOLOGIES AND AN OPPORTUNITY TO WORK WITH STUDIO EXECUTIVES

APPLICATIONS NOW AVAILABLE FOR INTERESTED COMPANIES

BURBANK, CALIF., February 13, 2013 – Warner Bros. Entertainment today announced the expansion of Turner Broadcasting’s successful Media Camp accelerator program. The new Media Camp Academy in Los Angeles will give early stage companies creating disruptive innovations an opportunity to work alongside Warner Bros. executives to gain valuable insight into the Studio’s business, and develop next-generation technologies and products for the entertainment industry. Companies worldwide who are selected to participate will receive 12 weeks of mentorship, guided insights and access to executives, and financial incentives.

Launched in 2012 by Turner Broadcasting’s Emerging Technology Group, Media Camp enabled six selected startups, Chute, Matcha, Showbucks, Socialize, SocialSamba and Switchcam, to work closely with executives across Turner brands including CNN, TNT, HLN, Cartoon Network and TBS.

Warner Bros. Entertainment will host their first Academy this spring with a series of networking events planned across Los Angeles. Turner will continue into its second year this summer in San Francisco. To be considered for either class, startups can apply at www.mediacamp.com/apply.

For more information, please visit www.mediacamp.com and follow @TheMediaCamp on Twitter.

About Warner Bros. Entertainment
Warner Bros. Entertainment is a global leader in all forms of entertainment and their related businesses across all current and emerging media and platforms. A Time Warner Company, the fully integrated, broad-based Studio is home to one of the most successful collections of brands in the world and stands at the forefront of every aspect of the entertainment industry from feature film, television and home entertainment production and worldwide distribution to Blu-ray and DVD, digital distribution, animation, comic books, video games, product and brand licensing and broadcasting.

About Turner Broadcasting System, Inc.
Turner Broadcasting System, Inc., a Time Warner company, creates and programs branded news; entertainment; animation and young adult; and sports media environments on television and other platforms for consumers around the world. Turner brands and businesses include CNN/U.S., CNN International, CNN.com and HLN; TBS, TNT, truTV and Turner Classic Movies; Cartoon Network, Boomerang and Adult Swim; and Turner Sports.

About Media Camp
Media Camp, a Turner/Warner Bros. initiative, is a comprehensive accelerator program that educates entrepreneurs and enables them to build innovative media businesses. Key features of Media Camp include presentations and workshops focused on media technology, formal mentorship from media industry experts, community events and knowledge sharing, as well as direct investments including partnerships and vendor relationships. For more information, visit www.mediacamp.com and follow us atwww.twitter.com/themediacamp.

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