We happy few: eLink, cityfeet answer the VC roll call
Even in shaky times for venture capital seekers, Bethesda, Md.-based eLink Communications and New York-based cityfeet.com each have received second rounds of financing.
eLink's $70 million second round is led by Menlo Park, Calif.-based Mayfield and New York-based Trimaran Fund II. Jay Bloom, Andrew Heyer and Dean Kehler, principals of Toronto-based CIBC World Markets Leveraged Finance Group, established the fund in February 2000. Mayfield invested $20 million, while Trimaran Fund II invested $15 million.
eLink also received equity funding from Fort Worth, Texas-based Edward P. Bass Group; Comdisco Ventures, an affiliate of Rosemont, Ill.-based Comdisco Inc.; and other investors. eLink received equipment financing from Comdisco Ventures, Lafayette, Calif.-based GATX Ventures and San Francisco-based Transamerica Technology Finance. Winston-Salem, N.C.-based BB&T also provided financing.
As part of eLink's second-round financing, Andrew Heyer of Trimaran and William Phoenix, managing director of CIBC World Markets, joined eLink's board. The broadband firm services office properties in Chicago, Dallas, London, Los Angeles, Miami, New York, and Washington, D.C.
Keeping it local, New York-based Scripps Ventures, a founding investor, led cityfeet's $3.25 million second round. The Internet company's online platform is a marketplace for small businesses seeking office, retail and industrial space.
The financing round also included a minority investment from New York Times Digital Inc. and exclusive partnerships between cityfeet and two of New York Times Digital's online properties, NYTimes.com and Boston.com.
INFOMART strikes again, this time in Houston's Greenspoint area
Dallas-based INFOMART has partnered with Dallas-based Sarofim Realty Advisors to develop INFOMART Houston in the city's Greenspoint area. The partnership has acquired 65 acres near the Interstate 45/Beltway 8 interchange, and initially will develop a 108,000 sq. ft. prototype building for telecom and Internet firms.
Construction will begin by the end of this month, and INFOMART expects to deliver the space in August. Eventually, the developer of high-tech space plans to develop five to seven similar buildings at the site. The campus is INFOMART's sixth high-tech campus in the United States.
Citadon makes a play for Madison Real Estate Technologies
San Francisco-based Citadon has acquired New York-based Madison Real Estate Technologies. Citadon will incorporate Madison's real estate lending applications into its online construction management services. Terms of the deal were not disclosed.
The combined companies will create a Web-based platform to source, underwrite, close, package, securitize and analyze conduit, portfolio and construction loans. Madison's clients include GE Capital Real Estate and Prudential Mortgage Capital Co.
More M&A: EurekaGGN acquires networking firm nex-i
New York-based EurekaGGN has acquired Princeton, N.J.-based computer networking firm nex-i. Terms of the transaction were not disclosed.
With the deal, EurekaGGN acquired more than $10 million in cash, consisting of existing cash on the balance sheet plus an additional investment made by nex-i's investment group led by Mellon Ventures, Pittsburgh, and Philadelphia-based LLR Equity Partners. Additionally, nex-i's initial investor group committed another $4 million as part of the company's upcoming financing round.
The acquisition supports Eureka-GGN's geographic expansion in the Northeast and Los Angeles.
A broken M&A record? PropertyFirst acquires RealWorks
PropertyFirst.com, Alhambra, Calif., has acquired RealWorks line of software from Westwood, Kan.-based First Realty Advisors Inc. With the deal, PropertyFirst.com acquires RealWorks Information System and RealWorks Valuation System, as well as other intellectual property.
Also, John K. Wood III, former president of First Realty Advisors, has joined PropertyFirst as vice president of product management, appraisal information services division. In this position, Wood is responsible for growth of the new division, which is developing the Appraisal Institute commercial database and a number of other products for commercial appraisers.
Cushman & Wakefield finds a high-tech partner in Struxicon
New York-based Cushman & Wakefield and Irvine, Calif.-based Struxicon will jointly co-develop Struxicon Interiors, an online project management tool for interior build-outs. Struxicon Interiors will allow owners, developers and project managers to plan, organize, manage and lead interior construction projects from conception through completion. Terms of the agreement were not disclosed.
The project combines the expertise of Cushman & Wakefield's project management group and property management and administration team with Struxicon's online construction management capabilities. Struxicon and C&W's project-management tool will allow for Web-enabled bidding, reports, schedules, cost summaries, architectural drawings and material and equipment procurement.