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Bar Lowers for Tech IPOs, as Investors Say Bring ‘em On
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 If that sounds like a lot of activity, it is. Indeed, it’s the busiest week for U.S. IPOs since 2007, and the trend looks to grow more pronounced thanks to LinkedIn’s recently filed S-1, a document that many have already pored over with the same anticipation and intensity as some Wikileaks’ dispatches. To gain better perspective ...
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peHUB Second Opinion
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 Leaked: AOL's crazy master plan to turn itself into a 21st century media giant (5 to 10 stories a day? What!). And, one blogger says working for AOL's content farm changed his life. Becoming a Billionaire: Ain't that hard, according to FINS. Here's how. Going Crazy: Investors pile into an Egypt ETF fund from Van Eck. Asians Like iPhones: Nielsens doesn't just track TV watching stats but they also track mobile phone usage. Guess which group loves Blackberries? Read more »
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Jefferies Ousts Asset Management Bankers
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 Kevin Pakenham and Aaron Dorr, both MDs in the financial institutions group, will be leaving Jefferies, a source says. Karamvir Gosal, also an MD, as well as two junior bankers, will be leaving as well, the person says. Their departures are expected to occur in coming weeks. Pakenham, Dorr and Gosal all hail from Putnam Lovell, which Jefferies acquired in 2007. It's not clear if Jefferies is ousting all of the bankers in the asset management advisory division, but it is letting go of the senior bankers, the source says. Read more »
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Need Antitrust Clearance? Get Ready For More Red Tape
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 This will surely lead to some good. But given the lengthening roll of red tape facing financial sponsors (headlined by requirement to register as investment advisers), it must have been tough for them not to stifle a sarcastic chuckle. Indeed, in a relatively little noted action last summer, the Federal Trade Commission proposed changes to its Hart-Scott-Rodino pre-merger notification rules to give it more information upfront about buyouts and other M&A deals to determine if they raise antitrust concerns. Read more »
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Fifth Street Finance, a specialty finance company, has priced a secondary offering of 10 million shares at $12.65 each. White Plains, N.Y.-based Fifth Street plans to use the $126.5 million in proceeds to make investments in small and mid-sized companies. Wells Fargo Securities, Morgan Stanley, UBS, Deutsche Bank and RBC served as joint-bookrunners on the deal. Read more »
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Scoop: Sun Capital Sponsors SCOOTER Store Recap
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 Now, they’re preparing to get even more intimate with the senior mobility products company, according to multiple sources. Sun Capital Partners, the middle market PE shop, is about to strike a deal to recap the New Braunfels, Texas-based maker of power wheelchairs, scooters, ramps and other accessories. One source who worked on the deal described it as “a very ...
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AXA Private Equity announced Tuesday that it has bought a 22% stake in FitnessBoutique. Financial terms were not announced. FitnessBoutique, of Grenoble, France, sells fitness equipment and food supplements in Europe. AXA Private Equity is part of AXA Investment Managers. Read more »
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Lots of Demand for EnCap’s $3.5B Pool But Fundraising Not So Easy
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 On Monday, EnCap announced it had raised $3.5 billion for its eighth “upstream” fund, which will invest in companies that drill and produce oil and gas. David Miller, an EnCap co-founder and a managing partner, estimates that the PE shop spent nine to 10 months marketing for EnCap Energy Capital Fund VIII. By contrast, the buyout shop spent roughly four to six months fundraising for each of its last four to five funds. “The world changed in 2008,” Miller told me. “There was huge demand. But it took longer to get people to the finish line because the due diligence was more extensive.” Read more »
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Fred Wilson: M&A Issues: The Integration Plan
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 The integration plan is the way the buyer plans to operate your business post acquisition. You should get this figured out before you sign the Purchase Agreement. You are going to have to live with the results of the integration and you had better buy into it before you sign your company away to someone else. There are two primary ways a buyer can "integrate" an acquisition. The first way is they mostly leave your company alone. Examples of this are Google's acquisition of YouTube, eBay's acquisition of Skype, and The Washington Post Company's acquisition of Kaplan (one of my favorite M&A cases). Read more »
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Toronto-based search marketing startup Chango has raised $4.25 million in Series B financing. Rho Canada, a division of NY-based Rho Capital Partners, led the round, which included participation from iNovia Capital, Metamorphic Ventures, Extreme Venture Partners and 24/7 Media co-founder Geoff Judge. As a result of the funding, Rho Canada’s Roger Chabra will join the Chango board. Read more »
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Private equity firm Blue Wolf Capital Partners has added Bob Sharp as an operating partner. Most recently, Sharp was chief restructuring officer for Gloucester Engineering Corp., which is now majority-owned by Blue Wolf. Previously, he held positions at American Capital Strategies and specialty-chemicals company Enthone. Blue Wolf is based in New York, and focuses on middle market companies. Read more »
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Truveris, a developer of an automated pharmacy benefits review service, has raised $3.8 million in a first round of financing. GSA Venture Partners led the round, which included investments from New Atlantic Ventures and First Round Capital. The New York-based company will use the funds to expand development and field operations. Read more »
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Bridgewater, New Jersey-based Nistica, which supplies agile optical networking modules, has raised $8.5 million in Series D financing, including equity and debt. Battelle Ventures and Technology Venture Partners co-led the $5.5M equity round, which included participation from Novitas Capital, Fujikura Limited, NTT Electronics Corp., MMV Investment Partners and individual investors. MMV Financial provided $3M of debt financing. Read more »
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RentJuice, an online platform that connects renters, brokers and property managers, has closed a $6.2 million venture round. Highland Capital Partners led the round, which included participation from individual investor Tim Draper, who led the company’s seed financing. RentJuice is based in San Francisco. Read more »
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Buyout shop Kohlberg Kravis Roberts & Co. has agreed with an undisclosed Turkish partner to bid for assets belonging to media group Dogan Yayin, Reuters reported. Pragma Corporate Finance is advising the partnership between KKR and the Turkish partner, Reuters said. Read more »
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Indian private equity firm Milestone Capital Advisors plans to invest $450 million this year, Reuters reported. The firm will focus on education, healthcare and real estate industries. Milestone, which is also planning an initial public offering this year, has roughly $900 million under management, Reuters said. Read more »
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Aria Systems, a provider of cloud-based billing and subscription management technology, has raised $20 million in Series C financing. Menlo Park, Calif.-based InterWest Partners led the financing with participation from existing shareholders Hummer-Winblad and Venrock. An unnamed strategic investor also contributed. San Mateo, Calif.-based Aria Systems has raised a total of $34 million across three rounds. Bruce Cleveland, general partner at InterWest Partners, joined the company’s board as a result of the funding. Read more »
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Silicon Valley venture firm Accel Partners has added Greg Waldorf as CEO-in-residence. Waldorf has spent the last five years as CEO of the online dating site eHarmony. Waldorf will work with existing Accel portfolio companies, and with the Accel team to identify new ventures. Waldorf has previously worked with Accel on the board of real estate site Trulia. Read more »
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Partners Group has invested an undisclosed amount in Korean company Saehwa International Machinery. Partners was joined in the funding by STIC Investments. Saehwa is an outsourcer for tire mold and drum manufacturing, and a manufacturer of tire building machinery. The company is based in Korea, with operations in China and North America. Read more »
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Baring Private Equity Asia has closed its largest fund to date, with $2.46 billion, Reuters reported. The fund will invest across a range of Asian countries. Baring has more than 30 institutional investors contributing to the new fund, Reuters said, with roughly half coming from North America, and 28 percent from Asia and a quarter from the Middle East and Europe. Read more »
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peHUB First Read
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 Grandpa, is that You?: Facebook’s fastest growing age group isn’t who you’d think your standard social networker is Tucking In: Taleo spends $11M to buy Cytiva Software Greedy When Others are Scared: The Egypt ETF is seeing some investors go long Read more »
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Ex-eHarmony CEO Joins Accel As CEO-In-Residence
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 The venture firm announced Monday Waldorf will become its CEO-in-residence, working with its portfolio companies and brainstorming new business ideas that might receive Accel funding. He said in an interview he has a self-imposed 6 to 12 month deadline to come up with a new idea. Rumors have swirled for years for years that match-making ...
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Insight Venture Partners Raises One *Billion* Dollars — Updated
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 Whether the funds will be managed separately or as one fund remains to be seen. Insight has not yet responded to requests for comment. Presumably, though, much of that money has come from existing investors like Stockholm-based Skandia Insurance Co. At least, when Insight raised its last...
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