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From:
"Dan Primack"
Name:
Dan Primack
Email Address:
Dan_Primack@fortune.chtah.com
Subject:
Date:
07-10-2010 14:18:43
Message
Fortune Finance Street Sweep Term Sheet Economics Tech Wall Street Washington
Random Ramblings
Just a few quick notes to kick off your Thursday:
*** Reports are coming in that Alan Hevesi, the former New York State comptroller, today will plead guilty
to felony public corruption. This is part of the noxious pay-to-play scandal involving private equity firms,
"placement agents" and the New York Common State Common Retirement Fund.
Chances are that Andrew Cuomo will hold a conference call later today (per precedent), and I'll be sure to
live-blog it over at Fortune.com. Will inform via Twitter if/when it's set to begin. Or just keep checking the
site...
*** Fund scoop: O'Reilly AlphaTech Ventures (OATV) has quietly closed its second fund with $60 million in
capital commitments. The San Francisco-based firm focuses on early-stage IT opportunities, and its
portfolio includes such companies as Foursquare, Bit.ly and TripIt.
OATV closed its debut fund with $51 million in 2005, and is co-managed by partners Bryce Roberts and
Mark Jacobsen. My understanding was that the new fund was oversubscribed, although Roberts declined
to comment.
*** Quiz Time: Can you name another early-stage VC firm about to raise its second fund, with a fairly
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Pre-Marketing, including what Zuck thought of The Social Network, the and the best elevator pitch
you've ever seen in your life.
VC Deals
IDEV Technologies Inc., a Webster, Texas-based maker of minimally-invasive medical devices for the
cardiology, radiology and vascular surgery markets, has raised $46 million in Series D funding led by PJC
Capital, a merchant banking fund sponsored by Piper Jaffray & Co. Return backers include PTV Sciences,
Bay City Capital, RiverVest Venture Partners and Heron Capital. www.indevmd.com
Symetis SA, a Swiss develpoper of transcatheter aortic valve implantation systems, has raised CHF25
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million ($25.8 million) in new VC funding. Endeavour Vision and NBGI Ventures co-led the round, and were
joined by return backersTruffle Capital, Novartis Venture Fund, Wellington Partners, Vinci Capital Renaissance PME, Banexi Ventures and BiomedInvest. www.symetis.com
Ongo Inc., a Cupertino, Calif.-based developer of a consumer service for reading and sharing digital news
from multiple publishers, has raised $12 million in first-round funding. Backers include The New York Times
Co., Gannett Co. and The Washington Post Co. www.ongo.com
Proferi, a provider of cloud-based enterprise performance management solutions, has raised $6.3 million
in Series A funding. Greylock Partners led the round, and was joined by Andreessen Horowitz and
company co-founder Dave Duffield (former PeopleSoft chairman). www.proferi.com
Iroko Pharmaceuticals LLC, a Philadelphia-based developer of specialty therapeutics, has raised an
undisclosed amount of private equity funding from Kew Capital and Phoenix IP Ventures.
PE-backed IPOs
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Aegerion Pharmaceuticals Inc., a Bridgewater, N.J.-based drug developer focused on cardiovascular and
metabolic diseases, has set its IPO terms to 4.67 million common shares being offered at between $14 and
$16 per share. This would give Aegerion a market cap of approximately $246 million, were it to price at the
high end of its range. Leerink Swan and Lazard Capital Markets are serving as co-lead underwriters.
Aegerion has raised over $44 million in total VC funding, from firms like Index Ventures, Advent
International, Alta Partners, Scheer & Co. and MVM Life Science Partners. This is its third attempt at
an IPO, having twice before filed and withdrawn due to "market conditions." www.aegerion.com
Exits
AAC Capital (f.k.a. ABN Amro Private Equity) is looking to sell Dutch chemicals distributor IMCD,
according to Reuters. UBS is managing the process. IMCD reportedly has nearly 1 billion in annual
revenue. www.aaccapitalpartners.com
TSG Capital Partners has agreed to sell Don Miguel Foods Corp., a provider of frozen and fresh
Mexican food products, to MegaMex Foods LLC, a joint venture between Hormel Foods Corp. and Herdez
Del Fuerte. No financial terms were disclosed. www.hormel.com
Other Deals
Man Group (LSE: EGL) shares rose 4.5% today, on talk that Bank of New York Mellon may be
considering a takeover offer.
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