Venture Capital

I met recently with Bob Nascenzi, the software industry executive who stepped in last May as the CEO of ProQuo, the San Diego startup that was created to help consumers control their personal information and reduce their junk mail. I didn't realize, however, that ProQuo had shut down. The last I heard about the company's status was just over six months ago, when ProQuo founder Steven Gal sent out a mass e-mail to thousands of his contacts (including me) announcing Nascenzi's appointment and his own departure to teach at Cornell University's business school as a visiting professor.  

The Hawaii Venture Capital Association marked Global Entrepreneurship Week with its second annual Entrepreneur of the Year Awards. The group honored six executives in as many categories Wednesday evening at the Plaza Club who take on "entrepreneurial ventures, create meaningful jobs and contribute to improving and diversifying our economy," Bill Spencer, HVCA president, said. Honorees were: »

entrepreneurial ventures, create meaningful jobs and contribute to improving and diversifying our economy   -Bill Spencer

 

Wireless technology company IPWireless has secured $15.5 million in its first round of institutional venture capital and strategic financing. IPWireless says it is developing wireless technology based on the mobile standard of 3GPP. Spark Capital led the round, which also included the Lockheed Martin Corporation.  

Internet security company Immunet has secured $2 million in its first round of institutional venture capital investment. Immunet is developing technologies to combat what it calls the "rapid exponential increase in the volume of threats" online. Altos Ventures led the round, which also included TechOperators.  

Having startups to invest in nearby makes it easier for both parties to interact, get guidance, brainstorm, etc. So if an entrepreneur believes that getting venture capital is incumbent to his startup's success and location is important to venture firms, it's probably worth spending some time thinking about where your startup will call home. A look at the Q3 2009 venture capital funding statistics compiled by ChubbyBrain offers a data-driven view of venture investment by geography, which may ...  

The Texas Research and Technology Foundation (TRTF) invested an additional $750,000 in the locally based venture capital fund Targeted Technology Fund I. This latest infusion brings the foundation's investment into the fund up to $1 million. The Texas Research and Technology Foundation originally invested $250,000 in the fund in July. The fund was formed in the spring of 2008 to capitalize on the growth of the biomedical device sector in Texas, Colorado, Georgia and Alabama.  

Medical device company Entellus Medical has closed its fourth round of institutional venture capital financing at $30 million. Entellus says that it is developing unique medical device solutions for the ear nose and throat physician. Essex Woodlands Health Ventures led the round, which also included Split Rock Partners and SV Life Sciences.  

Chief executives of start-up companies supported by Intel Corp said on Tuesday they expect to offer more jobs, after a long drought during which they laid off people. Venture capital-backed start-ups have long held out the promise of jobs and growth, but attendees at a conference of start-ups said their offerings are not enough to ignite a sputtering economy. The chief executives of some of the more than 400 start-ups supported by Intel Capital, the venture capital arm of the world's largest chipmaker, gathered at a luxury hotel on the California coast to talk about their futures.

Unemployment is going to be sticky for a while ... growth is going to be hard to come by   -Arvind Sodhani

 

Guest writer Glenn Kelman is the CEO of Redfin , an online real estate broker that seeks to give consumers the information and tools once limited to real estate agents. Previously, he was a co-founder of Plumtree Software , which had a public offering in 2002 but is now part of Oracle. Below he shares the best questions from investors during a recent fund raising.

We’re not asking you to lie.   -David Sze