September 2008 Archives

Chrysalis Ventures Closes 4th Fund at $175M

Chrysalis Ventures, a source of equity capital for young growth companies in the Midwest and South, has closed its fourth investment fund with commitments now totaling $175 million. The firm invests primarily in healthcare services and technology, media and communications, and emerging trends and technologies. Chrysalis Ventures has made investments in over 55 companies, including CED member company Digitalsmiths Corporation.

Chrysalis Ventures has been a CED member since 2002. In addition to sponsoring the CED's Venture Capital for Entrepreneurs series, the firm has sponsored CED's Venture conference for the last five years.

Three CED Member Companies Receive Biotech Center Loans

The North Carolina Biotechnology Center issued $347,000 in loans to four life science companies focused on fighting disease. Three of these companies presented this year at the Angel Retreat, part of CED's 25th anniversary Venture Conference.

NanoVector, based in Raleigh, received $147,000 to help its development of a cancer targeting nanovirus. Arbovax, also based in Raleigh, received $150,000 to use in its efforts to create a vaccine for the dengue fever virus. Countervail Corp., a Charlotte based company, landed a $25,000 loan to assist in commercialization of a drug that would serve as an antidote to nerve gas and pesticide poisoning.

The North Carolina Biotechnology Center is a long time CED member and partner. The RTP biotechnology center hosts CED's Biotech Forums, and company representatives regularly participate in CED program development.

Hosted Solutions Pens New Deal

Hosted Solutions, the east coast's premier managed services and data center, announced that it has signed a deal with EQmentor, Inc., an organization focused on professional development. The three year contract allows Hosted Solutions to provide hardware and software management services from its Charlotte Data Center to EQmentor.

Hosted Solutions has been a CED member since 2001, and provides CED with its suite of hosting services. In addition to participating in CED's Innovation to Impact campaign at the Contributor level, Hosted Solutions has sponsored CED's Venture conference for the last three years and CED's Biotech 2008, Tech 2007 and Opportunity 2006 conferences.

CED Member recognized as "Mover & Shaker"

William S. Patterson, a managing partner at Hunton & Williams LLP, was recognized as one of the 2008 Triangle Mover & Shakers by Business Leader Magazine. The award honors individuals who have made an impact on both their company and the community. Winners must either be an executive or an up-and-coming leader within the company.

Hunton & Wiliams LLP, has been a CED member since 2005. The company sponsored CED's Tech 2007 and Opportunity 2006 conferences.

Inlet Technologies Secures $10 Million Series C

Inlet Technologies, a company that enables new media for new networks, has secured $10 million in series C venture financing. The round includes investments from four investors including, North Carolina-based Capitol Broadcasting Company (CBC). To date, Inlet has raised a total of $20.5 million in venture funding. The company has earmarked the investment to support additional encoding solutions for the expanding new media market.

Inlet Technologies has been a CED member since 2003. Company representatives participated in FastTrac® TechVenture™ in 2004, presented their technology at Info Tech 2004, and then pitched their company to investors at CED's 25th annual Venture conference in 2008. Founder and CEO, Neal Page, continues to support CED and the entrepreneurial community by speaking at CED events on topics ranging from hiring top talent and raising capital, to sales and marketing.

Inlet Technologies investor, Capitol Broadcasting Company, has been a grantor level member of CED since 1996. The company has sponsored CED's Entrepreneurial Excellence Awards for the past three years.

BrightDoor Systems Raises $2 Million Series A Round

BrightDoor Systems, a Cary-based provider of sales lead and customer relationship management software for builders and developers, raised $2 million in its first round of venture capital. The round was led by Comprehensive Financial Management and includes investments from WWC Capital, and Durham-based IDEA Fund Partners. BrightDoor will use the additional capital to grow the sales team, expand marketing reach through additional industry shows and online events, and invest in the development of innovative lead generation products.

BrightDoor Systems has been a CED member since 2007. The company demonstrated its technology at CED's Tech conference in 2006 and again in 2007. Also in 2007, the company presented at CED's Opportunity conference.

BrightDoor Systems investor, IDEA Fund Partners, has been an active CED member since its inception in 2007. IDEA Fund Partners sponsored CED's Tech 2007, Venture 2008 and Medtech 2008 conferences. Not only is managing partner, David Rizzo a CED board member, but all IDEA Fund Partners' employees have contributed time and expertise to the development of CED program content.

CED Member recognized as "Mover & Shaker"

Camden Webb, a partner at Williams Mullen P.C. was recognized as one of the 2008 Triangle Mover & Shakers by Business Leader Magazine. The award honors individuals who have made an impact on both their company and the community.

Winners must either be an executive or an up-and-coming leader within the company.
Williams Mullen P.C. has been a member of CED since 1997. The company and its representatives have a long history of supporting CED's programs and initiatives. Not only did Williams Mullen contribute to both Innovation to Impact campaigns (first at the Partner level and currently at the Angel level), they have also sponsored CED's Venture Conference for the last three years. Additionally, John Paris, a partner at the firm, is a member of CED's board of directors.

Business Leader Magazine joined CED in 1992. For the last four years the company has sponsored all of CED's annual conferences.

CED Member to Create "Innovation Center"

Trustees at the University of North Carolina at Chapel Hill approved the design for the "Innovation Center" at the Carolina North satellite campus. The Innovation Center, which will host lab and office space, is expected to foment university startups. UNC hopes that the center can match the technology flowing out of the university with the business experts and venture capitalists needed to help young companies grow. Alexandria Real Estate Equities will build and operate the innovation center.

Alexandria Real Estate Equities is a long time CED member and supporter. The company contributes to CED's Innovation to Impact Campaign as a Major Benefactor; their gifts will total $300,000 over a ten year period.