RALEIGH … The flow of venture deals across the Southeast continues at a steady trickle.
Last week saw two more in the Carolinas and Georgia. Trusted Network Technologies, a network security firm from Alpharetta, Ga., got $6 million, while Durham software developer XActional obtained $2.5 million. Both deals were first rounds.
With just one week left before the halfway point of 2003, the two deals bring the regional total to $315 million in 54 deals, compared with $484 million raised in 59 deals at this point a year ago.
Here is LTW’s exclusive list, ranked according to the size of the deal, for the Carolinas and Georgia:
Company; Sector; Amount (Round)
1. NewSouth Communications, Greenville, S.C.; Telecommunications; $63.5 million (NA)
Investors: Kohlberg Kravis Roberts, M/C Ventures, Quadrangle Group, Vaxa Corporate Partners and Wachovia Partners
2. TransTech Pharma, High Point, N.C.; Pharmaceutical; $24 million (2nd)
Investors: MacAndrews & Forbes (lead), Cephaton and Novo Nordisk A/S
3. Prenova, Marietta, Ga.; IT services; $15.5 million (3rd)
Investors Frontenac (lead) Austin Ventures and River Cities Capital Funds
4. Targacept, Winston-Salem, N.C.; Biotech; $14 million (2nd)
Investors: Nomura International Healthcare Private Equity Group (lead), Bison Capital, Cogene Biotech Ventures, JAFCO, Oxford Bioscience Partners and Rock Castle Ventures
5. STI Knowledge, Atlanta; Software; $14 million (1st)
Investors: Satish Sanan (individual lead) BV-Cornerstone Ventures and Mellon Ventures
6. Ziptronix, Morrisville, N.C.; Hardware; $13.9 million (2nd)
Investors: Grotech Capital Group (co-lead), Intersouth Partners (co-lead), iSherpa Capital and MCNC Enterprise Fund
7. TranS1, Wilmington, N.C.; Medical devices; $12 million (2nd)
Investors: Advanced Technology Ventures (lead), Cutlass Capital, Delphi Ventures and Sapient Capital
8. nuBridges, Atlanta; Software; $11 million (2nd)
Investors: hf Flagship Investments (lead), C&B Capital, GMT Capital, Noro-Moseley, Tycho and Marie Hawle Foundation and individuals
9. Arsenal Digital Solutions, Cary, N.C.; IT services; $10.5 million (4th)
Investors: Covestco, Southeast Interactive Technology Funds and Southern Cross Capital
10. Ephinay, Charlotte; Services; $10 million (1st)
Investors: Chrys Capital
10. StemCo Biomedical, Durham; Biotech; $10 million (2nd)
Investors: Aurora Funds (co-lead), Intersouth Partners (co-lead), BD Ventures, Piedmont Angel Network, Tall Oaks Capital and Trelys Venture Partners
10. Procuri, Atlanta; Software; $10 million (3rd)
Investors: Insight Venture Partners
13. CipherOptics, Raleigh; IT services; $9.6 million (2nd)
Investors: Kodiak Venture Partners (lead), Axiom Venture Partners, New Tampa Technologies and Origin Partners
14. Optical Experts Manufacturing, Charlotte; Media; $8 million (1st)
Investors: Ballast Point Ventures, Frontier Capital and Harbinger Mezzanine
15. Venetica, Charlotte; Software; $7 million (1st)
Investors: Charles River Ventures and General Catalyst Partners
16. Brickstream, Atlanta; Software; $6.2 million (1st)
Investors: Columbia Capital and Mohr Davidow Ventures
17. Trusted Network Technologies, Alpharetta, Ga.; IT services; $6 million (1st)
Investors: Charles River Ventures and Flagship Ventures
18. Lancope, Alpharetta, Ga.; IT Services; $5 million (2nd)
Investors: HIG Ventures and GMG Capital Partners
18. Oculan, Raleigh; Networking; $5 million (4th)
Investors: Soros Equity Partners
18. VisionAIR, Castle Hayne, N.C.; Software; $5 million (NA)
Investors: Banc of America Capital Investors (lead), Covestco, GE Capital and Southeast Interactive Technology Funds
21. MediaSpan Group, Durham; IT services/software; $4.5 million (1st)
Investors: Covesco-Seteura, Rustic Canyon Group and Southeast Interactive Technology Funds
22. HAHT Commerce, Raleigh; Software; $4.1 million (3rd)
Investors: Banc of America Capital Investors, Canaan Partners, CIBC Capital Partners and Granite Ventures
23. Kyma Technologies, Research Triangle Park; Hardware; $4 million (2nd)
Investors: Digital Power Capital and Siemens Venture Capital
24. Q1 Labs, Atlanta; Software; $3.3 million (1st)
Investors: Business Development Bank of Canada and New Brunswick Investment Management
25. Flexlight, Atlanta; Networking; $3 million (2nd)
Investors: Coral Ventures and Concord Ventures
25. Quellan, Atlanta; Hardware; $3 million (2nd)
Investors: Cordova Intellimedia Ventures, Greenspring Ventures, ITU Ventures, National Semiconductor, University Financing Foundation and Yamacraw Seed Capital Fund III
27. CoreCard Software, Norcross, Ga.; Software; $2.5 million (NA)
Investors: Intelligent Systems
27. XActional, Durham; Software; $2.5 million (1st)
Investors: Aurora Funds (lead), Intersouth Partners and NextPoint Partners
29. Qcept Technologies, Atlanta; Hardware; $2.1 million (NA)
Investors: Pittco Capital Partners (lead), Atlanta Technology Ventures and Bergman & Associates
30. Relativity Technologies, Cary, N.C.; Software; $2 million (4th)
Investors: Noro-Moseley Partners and Wakefield Group
30. AvidXchange, Charlotte; Software; $2 million (2nd)
Investors: Charlotte Angel Partners, Piedmont Angel Network and and individuals
30. Auctionworks, Atlanta; Software; $2 million (2nd)
Investors: Undisclosed
30. NuTech Solutions, Charlotte; Software; $2 million (3rd)
Investors: Individuals
30. Encelle, Raleigh; Biotech; $2 million (4th)
Investors: Intersouth Partners and North Carolina Enterprise Fund
35. ChemCodes, Durham; Biotech; $1.8 million (3rd)
Investors: Intersouth Partners
36. RSS Solutions, Greenville, N.C.; Software; $1.6 million (1st)
Investors: EdgeStone Capital Partners
37. LiveWire Logic, Morrisville, N.C.; Software; $1.5 million (3rd)
Investors: Gray Ventures and Research Triangle Ventures
37. Trinity Security, Charlotte; IT services; $1.5 million (1st)
Investors: Venture Capital Solutions
39. Synthematix, Durham; Software; $1.25 million (2nd)
Investors: Catalysta Partners and individuals
40. InsLogic Holding, Columbia, S.C.; IT services; $1.1 million (7th)
Investors: Warburg Pincus
41. ISIC, Cary, N.C.; Hardware; $1 million (Seed)
Investors: Academy Funds and MCNC Seed Fund
41. Unitrends Software, Myrtle Beach, S.C.; Software; $1 million (1st)
Investors: Trelys Ventures
41. Tranzyme, Research Triangle Park, N.C.; Biotech; $1 million (2nd)
Investors: Shin Nippon Biomedical Laboratories
44. AfterBOT, Norcross, Ga.; Software; $835,000 (2nd)
Investors: River Cities Capital Funds
45. iReadyWorld, Charlotte; IT services; $650,000 (4th)
Investors: Total Technology Ventures
46. SAK Logistics, Atlanta; Software; $500,000 (1st)
Investors: Individuals
47. Metabolon Pharmaceuticals, Research Triangle Park, N.C.; Biotech; $300,000 (Seed)
Investors: Aurora Funds
48. Noverant, Raleigh; Software; $266,000 (Seed)
Investors: Research Triangle Ventures and individuals
49. Coventor, Cary, N.C.; Hardware; $250,000 (NA)
Investors: Undisclosed
50. StrikeIron, Raleigh; Software; $150,000 (Seed)
Investors: Aurora Funds
51. RYLA Teleservices, Woodstock, Ga.; IT services; $100,000 (2nd)
Investors: Sustainable Jobs Fund
52. VT Silicon, Atlanta; Hardware; NA (Seed)
Investors: ITU Ventures
52. International IT Services, Raleigh; IT services; NA (1st)
Investors: WellFound Technology
52. Navigational Sciences, Charleston, S.C.; IT services; NA (1st)
Investors: Individuals
