Professional Documents
Culture Documents
From:
"Dan Primack"
Name:
Dan Primack
Email Address:
Dan_Primack@fortune.chtah.com
Subject:
Date:
14-12-2010 14:53:53
Message
Fortune Finance Street Sweep Term Sheet Economics Tech Wall Street Washington
Random Ramblings
No real column today, as what I was hoping to discuss didnt quite come together in time (Im awaiting one
important callback, and havent quite given him enough time). In the meantime, just a few very quick notes:
*** Spent some time on the phone yesterday with Jeremy Bloom, the ex-Olympic skier turned model
turned NFL player. Hes got a Denver-based lead generation startup that just raised $4.25 million from
Foundry Group.
Near the end of our talk, I asked if his celebrity has helped him open doors particularly in Colorado or if
its become problematic because people dont take him seriously. His reply:
It's definitely both. I try to stay away from the celebrity as much as I can That said, I'm obviously proud
of my accomplishments in sports, and there are a lot of similarities between building a football team and
building a company. Plus, when I was with the Philadelphia Eagles, I spent time in a real estate and
entrepreneurial finance class at Wharton, which is where I learned the most about business.
*** Update: Yesterdays big deal was that Carlyle Group CFO Peter Nachtwey has stepped down. Not too
long after I hit send, he popped up in a similar role with Legg Mason.
*** Quiz Time: Can you name the PE-backed specialty finance company that recently had its spigot shut
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off, for reasons other than performance? Hint: It has two primary investors.
*** Those who do not learn from past mistakes For the past few months, Ive harassed various NY
state legislators about a stalled bill to change the pension system management structure from a single
fiduciary to some sort of board. None have been willing to reply, including those who sponsored said
legislation in the first place. Pretty close to giving up...
Pre-Marketing, including Wall Street's version of austerity, Peter Nachtwey talks about leaving
Carlyle, cash-for-Madoff-claims and a Hooters hold-up.
VC Deals
Rive Technology, a Cambridge, Mass.-based developer of technology for petroleum refining catalysts,,
has raised $25 million in Series C funding. The Blackstone Group led the round, and was joined by return
backers Charles River Ventures, Advanced Technology Ventures and Nth Power. www.rivetechnology.com
Shopify, an Ottawa-based online retail platform, has raised $7 million in Series A funding from Bessemer
Venture Partners, FirstMark Capital and Felicis Ventures. www.shopify.com
SensorLogic Inc., a Boston-based provider of a service delivery platform for machine-to-machine (M2M)
applications, has raised $5 million in new VC funding. Sevin Rosen Funds and Boston Millennia Partners
co-led the round, and were joined by return backers UPS Strategic Enterprise Fund and Covera Ventures.
www.sensorlogic.com
Integrate, a Denver-based provider of an aggregated lead generation platform for advertisers, has raised
$4.25 million in first-round funding from Foundry Group. Read more
WebPT, a Phoenix-based provider of an electronic medical records system for physical therapists, has
raised $1 million in Series A funding from Canal Partners. www.webpt.com
CloudBees, a Boston-based developer of a Java cloud computing platform, has acquired Stax Networks,
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PE-backed IPOs
iSoftStone Holdings, a Beijing-based provider of IT consulting and software services, raise nearly $141
million in its IPO. The company priced around 10.83 million American depository shares at $13 per share
($11-$13 range), with Morgan Stanley, J.P. Morgan, and UBS serving as co-lead underwriters. It will begin
trading on the NYSE under ticker symbol ISS. Shareholders include AsiaVest Partners, Infotech Ventures,
Mitsui & Co. and Fidelity Asia Ventures.
Exits
Striker Partners has agreed to sell Touchstone Wireless Repair and Logistics, a Hatfield, Penn.-based
provider of repair, remanufacture and reverse logistics services for wireless products, to Brightpoint Inc.
(Nasdaq:CELL). No financial terms were disclosed. Harris Williams & co. managed the sale process.
www.tswlp.com
Towerbrook Capital Partners has agreed to sell Germany-based Polymer Latex, Europes third-largest
latex producer, to Yule Catto. The deal is valued at 443 million, including the repayment of 286 million in
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existing debt.
Other Deals
BP said that it will sell its Pakistan assets to United Energy Group, in a $775 million cash deal designed to
help raise money to pay for the Gulf Coast oil spill. www.bp.com
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