Venture Capital News
Silverstorm Technologies Closes $13 Million in Funding
Representatives of SilverStorm Technologies, a leader in high performance interconnect solutions for clustered computing, announced that the company has closed on an additional US$13 Million of funding to support its growth initiatives. The round was led by new investor Core Capital Partners, a $370M technology focused venture capital firm located in Washington DC. Core Capital was joined by new investor Axiom Venture Partners and existing investors Bay Partners and Castile Ventures Partners.
SilverStorm’s solutions are widely used in High Performance Business Computing, Database Clustering and Grid Utility Computing applications. SilverStorm solutions power some of the world’s largest computing clusters in diverse fields including Oil and Gas exploration, Automotive and Aerospace design, Financial Services, Bio Medical and University/Government Research, including end-user customers such as Sandia National Laboratories, Riken Research Institute, Toyota, Lockheed Martin, Chevron, Sun Microsystems, Intel, AMD, Virginia Tech and Canon.
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Syntricity Completes $5.8 Million in Series B Funding
Syntricity Inc., a provider of enterprise yield management (EYM) software for the semiconductor industry, today announced that it has secured US$5.8 million in Series B preferred funding. The funding round was led by Windward Ventures with participation by new and current investors. New investors included GKM Ventures of Los Angeles and its affiliate fund Osprey Ventures of Menlo Park, Calif. The funds will be used to accelerate sales of its dataConductorEP™ EYM system used by semiconductor manufacturers to analyze data from facilities around the world to improve yield.
Syntricity’s dataConductorEP has become the yield management system for more than 40 leading semiconductor companies. With dataConductorEP, customers have reduced their costs of characterization yield analysis by 75 percent and time to yield by 33 percent, saving millions of dollars each year through dynamic production yield management.
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Nat City Equity Group Gets New CEO
National City Equity Partners LLC, a private investment fund associated with financial institution National City Corp. (NYSE: NCC), has appointed Edward Pentecost the new chairman and chief executive.
Edward Pentecost has worked with the fund since 2000, and joined National City in 1989, according to a statement from the Cleveland-based company.
Pentecost succeeds William Schecter as chairman of the fund. Schecter will remain with National City as a senior vice president and advisor.
The statement did not provide a reason for the management change. A National City spokeswoman did not immediately return a call seeking comment. National City Equity Partners has approximately $1 billion in assets under management, according to the statement. Among its holdings, the fund has invested in Associated Materials Inc., a Cuyahoga Falls-based manufacturer of vinyl siding and windows; Athersys Inc., a Cleveland-based stem cell technology company; Conferon Global Services Inc., a Twinsburg-based meeting and trade show planner; and Paradigm Packaging Inc., a Mayfield Heights-based manufacturer of plastic bottle caps.
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Claude Leglise Joins WI Harper
Claude Leglise, former head of IntelCapital international, joined the venture capital firm WI Harper as managing director Wednesday. In the position, he plans to become involved in developing the high potential growth he sees in Chinese investments.
Leglise will head WI Harper’s San Francisco head office and will serve on the firm’s investment committee.
WI Harper, which manages a fund of almost $300 million, operates offices in Beijing and Taipei. About 70 percent of its investments are focused in Greater China, and primarily in early-stage companies.
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Axena™ Inc. Graduates from UCF Technology Incubator
Axena™ Inc., a leading U.S. provider of corporate governance software that facilitates compliance with the Sarbanes-Oxley Act, Enterprise Risk Management and international demands for corporate governance and accountability, has graduated from the University of Central Florida Technology Incubator’s downtown facility. The downtown facility is an economic development partnership between the Incubator and the City of Orlando. Axena remained in downtown Orlando and relocated to offices at 111 North Orange Avenue.
A strategic partnership Axena™ developed with capital investors Mirabilis Ventures, a private venture capital company that projects $4 billion in revenues next year, provided the impetus for Axena’s graduation.
