Venture
Update Vol IV, #9, October, 2000
Cary—Red Storm Entertainment, Inc. (www.redstorm.com), a developer and publisher of CD-ROM games, console games and related merchandise, formed a definitive agreement to be acquired by Ubi Soft Entertainment S.A., a Paris-based interactive game publisher. Following completion of the transaction Red Storm Entertainment will be a wholly owned subsidiary of Ubi Soft Entertainment. Contact: Cassie Vogel (919.460.1776).
Winston-Salem—Targacept, a pharmaceutical company that develops nicotine-mimicking compounds for the treatment of neurological diseases, completed a $30.4 million round of equity financing in August 2000. The round was led by EuclidSR Partners and included Burrill & Company, Auriga Ventures, CDC Innovation, Genavent (Aventis and Société Générale Asset Management), Société Générale Asset Management Finance, Advent Venture Partners and Longleaf Venture Fund. Targacept was formed by R.J. Reynolds Tobacco Company in 1997, which will own 43 percent of Targacept on a fully diluted basis. Contact: J. Donald deBethizy (336.741.7693).
Raleigh—Micell Technologies (www.micell.com), a developer of an environmentally friendly carbon-dioxide dry-cleaning process that it is using to build the Hangers Cleaners chain along with other environmentally friendly chemical processes, received $20 million in venture funding in September 2000. Investors included previous investors Soros Group and Five Points Capital, as well as new investors Invemed Catalyst Fund and Rembrandt Ventures. Contact: Gena Arthur (919.313.2102).
Research Triangle Park—Delta Pharmaceuticals, Inc., a developer of novel delta receptor compounds for improved analgesia and other therapeutic applications affected by the delta receptor, received $25 million in venture financing in September 2000. Investors included Taiwanese investment banks and Elan Pharmaceuticals. Contact: Phillip Wise (919.806.1806).
Research Triangle Park—KeyNetica, Inc. (www.keynetica.com), a developer of software tools for accessing the Net from mobile devices, received $1 million venture financing from an undisclosed strategic partner in September 2000. Contact: Alex Lang (919.485.8329).
Greensboro—InvoiceLink Corporation (www.invoicelink.com), a provider of Web-based invoicing and payment solutions, was acquired by BCE Emergis Inc., an e-commerce products and solutions provider, in September 2000. Under the terms of the agreement, InvoiceLink was acquired for $88.3 million and paid for in BCE Emergis shares and options. At closing, BCE Emergis issued 566,824 common shares at $86.735 and options to purchase 167,968 common shares at the same price, representing approximately 50% of the purchase price. The balance of the purchase price will be paid in three installments on the anniversary dates of the closing. Contact: Alan Neely (336.315.9336).
Charlotte—Consentsys (www.consentsys.com), a provider of physician-branded information solutions through its Application Service Provider Internet-based software, closed on a $1.3 million initial round of financing in September 2000 from undisclosed investors. Contact: Jeff Wise (704.347.0010)
Durham—Atlantis Group, an angel investment fund focused on seed investment in Research Triangle area start-up companies, has raised nearly $3 million from investors. The fund's target is $6 million. The fund has commitments from 45 people for a minimum investment of $50,000 each. Contact: Robbie Hardy (919.806.4340)
New Developments
Raleigh—Alerts.com (www.alerts.com), a
provider of intelligent change detection and
notification services for high traffic Web sites with
dynamic content, formed an agreement in September
2000 with The Gallup Poll, the world leader in public
opinion polling, to provide presidential poll alerts
for the Gallup Web site. Alerts.com has also formed
an agreement in September with CNNSI.com to provide
outsourced alerting services on the CNN/Sports
Illustrated site. Contact: Paula Dickerson
(919.239.2251)
Durham—Pinpoint (www.pinpoint.com), an infrastructure provider of custom wired and wireless search solutions, was chosen as one of the most innovative companies in the wireless space by Unstrung.com, an online magazine focusing on the business and lifestyle of the wireless Internet, in September 2000. Pinpoint was also recognized by CNET as one of the Top Ten Wireless Companies to Watch. Contact: Eric Harber (919.251.7000).
Morrisville—Home Director Inc. (www.homedirector.com), a provider of home networking, has formed an agreement with BellSouth in September 2000 to launch a program to install sophisticated home wiring and networks in new single-family homes, apartments and condominiums in the BellSouth region, providing an infrastructure that enables homeowners, builders and developers to use advanced digital capabilities and services. Contact: Scott Yates (919.760.5029)
Raleigh—Marion Bass Securities (www.marionbass.com), a Charlotte-based investment banking and brokerage firms, is planning to raise at least $20 million for a venture-capital fund to be located in Raleigh. The fund will target early-stage venture deals of $500,000 to $3 million in applied technology and biotechnology firms in the Triangle area. Contact: Benjamin Brooks (919.878.5614).
Durham—Blue292 (www.blue292.com), a provider of a business-to-business e-marketplace for environmental, health and safety (EHS) applications, products and services, entered into an agreement in September 2000 with Sequoia Analytical, the second largest laboratory network in the United States. Under the terms of the agreement, Sequoia Analytical will provide Blue292 customers with a broader range of EHS laboratories and services through the Sequoia network. Contact: Susan Acker (919.806.2440)
Research Triangle Park—The Council for Entrepreneurial Development (www.cednc.org) will hold Research Triangle InfoTech 2000, the Southeast's premier Information Technology industry conference highlighting the best of North Carolina's multi-billion dollar IT industry, on October 27, 2000. In addition to sessions led by technology leaders and veteran entrepreneurs, the conference will have demo rooms where attendees can test-drive the technology developed by some of the area's most promising IT companies. To learn more on InfoTech 2000, visit the Web site at www.cednc.org/infotech/2000.
Research Triangle Park—North Carolina companies Amplistar, BioStratum, Norak Biosciences, Targacept. TriVirix Intl., Bloodhound Software, Sci Matrix, Sicel Technologies are among 24 Southeastern companies selected to present at the 2nd Southeastern BIO Investors Forum to be held in Chapel Hill on Oct 2-3, 2000. (www.sebio.org). Contact: Jennifer Tilden (919.549.7500).
On The
Up
MINDLEVER
Raleigh-based MindLever.com, a leading application
service provider (ASP), is making corporate
e-Learning simple, quick and productive.
MindLever.com provides the technology and services that allow organizations to move their learning programs and knowledge transfer initiatives to the Internet thus helping maximize an organization's ability to learn and compete.
Deployment of MindLever.com's application suite lowers training costs, and more importantly, helps companies take advantage of opportunities. MindLever.com's Leveraged Learning ArchitectureÔ emphasizes connecting learning objectives and business objectives. This enables learning for competitive advantage - getting to market faster, understanding products better, operating more efficiently, listening to customers more closely, and selling smarter. As a result, MindLever.com's solutions help customers become agile and respond rapidly to both threats and opportunities. "It is about adding to the top line, in addition to cutting costs," says Salim Bhatia, President and CEO.
"Economic conditions - the evolution to a knowledge-based economy, and continued labor shortages - all favor e-Learning," Bhatia continues. "MindLever.com is unique in that it allows companies to individualize the learning in a way that is specific and focuses on each learner's needs. Our technology allows for just enough content, at just the right time, for just the right purpose."
MindLever.com received $4 million in Series A funding in November 1999. It has already delivered e-Learning solutions to clients such as Charles Schwab, Check-Free, Freightliner (Daimler-Chrysler), Fujitsu-ICL Systems, Microsoft and VeriFone (Hewlett-Packard).
Southeastern BIO
Investors Forum
October 2nd-3rd, 2000
The Friday Center, Chapel Hill, NC
Tech Titans Hockey Challenge
Carolina Hurricanes vs. San Jose Sharks
October 24th, 2000
Entertainment Sports Arena
Research
Triangle InfoTech 2000
October 27th, 7:30 a.m. - 6:00 p.m.
The Friday Center, Chapel Hill, North Carolina
Venture Capital Series
2000
Getting the Money in the Door
November 2nd, 12:30 - 5:00 p.m.
Marriott at Research Triangle Park
For more information about these events or to register, visit the CED Web site at www.cednc.org or call 919.549.7500.
CED is a private non-profit organization supported, in part, by corporate contributions, including funding from ATCOM Business Telephone Systems, Carolina Power & Light Company and Capitol Broadcasting Company, Inc.
Research Triangle Venture Update is published by
the Council for Entrepreneurial Development (CED), a
non-profit organization located in Research Triangle
Park, N.C.
Editor Carolyn Foy, CED
P.O. Box 13353
RTP, NC 27709
Phone: 919.549.7500
Fax: 919.549.7405
Email: mcfoy@cednc.org