Norwest launches $1.2 bn global fund

Norwest Venture Partners, the Palo Alto, California headquartered venture and growth capital investor, has closed its latest global fund at $1.2 billion. Dubbed Norwest Venture Partners XII, LP, the fund will target early and later stage investments across sectors. The new fund takes Norwest’s total capital and commitments to approximately $5 billion and follows the firm’s previous $1.2 billion fund which it started investing in 2010.

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iYogi seeks $55 mn for global expansion

On-demand tech support services company iYogi is in the market to raise $55 million to fuel a global expansion drive that will see it seed to establish a presence in Latin America and Europe this year. It also has China, parts of Africa and Southeast Asia on its radar in the medium to longer term.

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Unitus Seed Fund invests in mGaadi

India Drivers Network Services, a Bangalore based startup that operates auto rickshaw booking service mGaadi, has raised an undisclosed sum in a seed funding round from Unitus Seed Fund. The company will use the funds to further develop its network of auto rickshaw drivers, enhance its technology platform and expand operations in Bangalore and  other metros.

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Ventureast joins Series C investors in Pinnacle Engines

Pinnacle Engines, a San Carlos, California based developer of ultra efficient engine designs, has raised an undisclosed sum in a Series C funding round from a group of investors. The new investors in the round include Mitsui Global Investment, Ventureast and an unnamed strategic OEM partner.

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The Hive leads $1.5 mn round in Big Data startup Colabo

San Carlos, California based Colabo, a provider of intelligent sales acceleration solutions, has raised $1.5 million has raised a venture round led by The Hive, the Big Data focused incubator and seed fund based in Palo Alto, California. A group of private investors including Paul Maritz, Raghu Raghuram and Ray Rothrock participated in the round.

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Five must haves of a successful online marketplace

By Sergio Monsalve, Norwest Venture Partners

I have spent more than 15 years of my career building, investing in, advising, and studying online marketplaces.  I am convinced marketplaces possess very unique and fascinating characteristics, which are often counter-intuitive and easily misunderstood.  By “marketplaces,” I am referring to a central exchange of goods or services whereby a large fragmented supply/seller base meets in one concentrated place to sell to a large and fragmented demand/buyer base. Continue reading →

Hopscotch buys SkoolShop. Blume Ventures, angels exit

Mumbai based online baby and kids products store Hopscotch is acquiring SkoolShop.com, an online store that specializes in school supplies. Hopscotch has entered into a definitive agreement to acquire SkoolShop, owned by Mumbai based Occasion Kommerce. The financial details of the transaction have not been disclosed.

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Alibaba — From Hangzhou to Wall Street

 

Chinese ecommerce giant Alibaba on Tuesday filed for a $1 billion IPO with the US Securities and Exchange Commission (SEC). It will list either on the New York Stock Exchange or the Nasdaq and has not yet specified a ticker symbol.

Founded in 1999 by Jack Ma, a former English teacher, Alibaba reported revenues at $5.55 billion on profits of $1.37 billion, for the financial year ended March 31, 2013.

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DFJ Growth raises $470 mn fund

DFJ Growth, the later stage focused venture capital arm of Draper Fisher Jurvetson (DFJ), has raised $470 million in its latest fund and its second in the growth stage series. The fund targets private technology companies that are scaling rapidly and poised for category leadership. The new fund comes just three months after DFJ raised the $325 million DFJ Venture XI, an early stage fund.

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