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November 2001
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Venture Capital
December Venture Capital Financings
Compiled by D. Piemonte
Page 2


HAVERHILL, Dec. 10, GlobalWare Solutions, a provider of Software Contract Manufacturing, Content Management and eMarket Solutions, announced that it has raised an initial round of $30,000,000 in equity capital through a private placement of common and preferred stock with Mezzanine Management LLC, one of Europe's largest private equity investment firms. The company plans to use the funds to strengthen its internal operations and to support its global expansion plans through strategic acquisitions.

LOWELL, Dec. 11, Storigen Systems announced that it has raised $15 million in Series B funding, bringing the total venture financing raised to date to more than $24 million. This round of funding comes as Storigen prepares to launch its distributed storage system. Storigen's second round of funding was led by outside investor Pilot House Ventures and includes participation from the company's initial investors, Battery Ventures, Charles River Ventures and OneLiberty Ventures. Storigen will use these funds to extend its sales and product development as the company gears up for its national launch.

WALTHAM, Dec. 11, InfoLibria, Inc., a provider of Internet infrastructure for rich media application delivery and content distribution, announced an investment with Microsoft. Under the terms of the agreement, Microsoft will invest in InfoLibria and the two companies will collaborate on new technology development and Windows .NET platform integration. This investment expands Infolibria's multimillion dollar Series E round led by Mellon Ventures. The financing includes current InfoLibria investors such as Adams Capital, Kemper Ventures, Patricof and Company, Sandler Capital Partners, Madison Dearborn, GE Capital, Telesoft Partners IA, and Tudor Private Equity Fund, along with new investments from StarVest Partners, Mitsubishi, and private investors.

MARLBOROUGH, Dec. 13, Internet Photonics Inc. announced it has been established to develop next-generation solutions that will enable the cost-effective rollout of carrier-grade Optical Ethernet networks. The company announced that it raised $31 million in financing. Sprout Group, the venture capital affiliate of Credit Suisse First Boston Corporation, led the company's first round of financing. AT&T is also an equity holder in the company. Internet Photonics has over 100 employees and has been operating in "stealth mode" since its inception the fourth quarter of 2000.

MAYNARD, Dec. 17, Surf Communications Solutions raised capital totaling $21 million, of which $2 million was contributed by an affiliate, BOS (Better Online Solutions). Surf is an Israeli based company with U.S. headquarters in Maynard. Aside from BOS, the other main participants in Surf's fund raising endeavor included: Giza Venture Capital, Pitango Venture Capital, Motorola Ventures, Catalyst Investments, and Sadot Research and Development Funds. Intel is also an investor in Surf. As a result of Surf's fundraising, BOS' share in Surf was diluted to 13.7%. Established in 1996, Surf Communication Solutions develops and supplies software-based access solutions that are integrated into manufacturers' original equipment in the telecommunications, data communications, telephony and consumer electronics industries.

NEWTON, Dec. 19, Aircuity, Inc., a provider of intelligent indoor air quality (IAQ) monitoring for commercial buildings announced that it has finished the closing of $4.5 million in Series A financing from IDP Investments, Inc. and the Venture Capital Fund of New England (VCFNE), as well as from several strategic angel investors. Harry Healer, of The Venture Capital Fund of New England, and Robert Reilly, of IDP Investments, Inc., will become members of the Aircuity Board of Directors.

WOBURN, Dec. 20, TopicalNet, Inc., a leader in developing automated content classification technology and business analytics solutions, has agreed to purchase substantially all of the assets of TeraLytics of Sunnyvale, California. In conjunction with the acquisition, TopicalNet has also secured $4 million in additional funding from existing investors APV Technology Partners and Solstice Capital, new investor Crystal Internet Ventures and other sources.

CAMBRIDGE, Dec. 26, Altus has raised an additional $15 million in the second closing of its Series B private financing. In the first closing, Nomura International plc and U.S. Venture Partners served as lead investors. Follow-on investors included CMEA Ventures and China Development Industrial Bank (CDIB), with additional participation from Hotung International Company Limited and the Palladian Group. Together with the initial private placement, this series marks the year's largest private investment in a New England-based biopharmaceutical company. Altus has developed a proprietary protein crystallization technology, known as Crystalomics, to enable the rapid commercialization of high-value protein-based products.


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