VentureWire Alert

With only four new deals on Friday, most of those in the venture business took it easy as summer 2001 came to a end. Nevertheless, eAccess, a provider of broadband Internet access, announced plans to close on a $76-million to $119-million Series C private placement led by new investor Japan Telecom, which will hold a 15% stake in the company.

Meanwhile, on the early-stage front, Metalforming Controls, which develops metal-stamping presses, secured $1.35 million in Series A financing, led by new investor Aavin Venture Capital, while eWingz Systems, a provider of cross-carrier SMS services, scored $3.5 million in its first round from a pool of investors that included Draper Fisher Jurvetson.

And Rockwell Schnabel, founder and managing director of Trident Capital, may be leaving his firm. He's expected to be nominated by President Bush as the U.S. envoy to the European Union. If his nomination is approved, Mr. Schnabel will serve the duration of the Bush administration, but will remain a special limited partner at Trident Capital.

As for bad news, Internet service provider Relera, which has now raised $310 million, laid off 380 of its 455 employees in the company's second round of layoffs. The layoffs hit Relera's offices in Denver and San Diego. And optical components manufacturer, Zenastra Photonics, cut 160 positions. The company's backers include Bank of Montreal Capital, VenGrowth, and Ventures West 7.
- Amanda Briggs

Here they come again!-Mike Homer, Steve Kirsch, Frank Moss-back in the startup trenches. And back at our conferences. Mike, Steve, and Frank have pitched their companies at our previous Outlook conferences, and they're all returning in new roles at this year's Internet Outlook. Mike, formerly of Apple, Netscape, and GO, and a board member at Palm and Tivo, has just launched Kontiki, which aims to make the Web faster for all of us. Steve, founder of Infoseek and Frame Technology, is now at the helm of Propel, the scalable data management software provider. Frank, who helped steer Tivoli Systems for six years, has co-founded Bowstreet, which strives to make it easier to do business online. And they are only three of 97 carefully selected entrepreneurs scheduled to present at Internet Outlook on September 10 & 11 at the San Francisco Airport Marriott. Register today at: http://www.internetoutlook.net

Saving Costs via Optics With capital scarce and bandwidth aplenty, optical components manufacturers face tough market conditions. Now, systems companies are focusing on reducing costs and helping carriers do more with the capacity they already have. Happily, a number of optical technology companies appear well positioned to capitalize on this trend. At Optical Portfolio, you'll hear from startups such as Symmorphix, Telephotonics, Pine Photonics, and Proximion Fiber Optics, which are using integration, tunability, and real-time network monitoring to create more intelligent and efficient optical networks. VentureWire Optical Portfolio, Boston Marriott Cambridge, October 24 & 25. Register by September 14 and SAVE $200:
http://www.opticalportfolio.com

When Corporate and Venture Worlds Collide VentureWire Breakfast Briefing - San Mateo, CA, Sept. 19 Innovative companies such as Eastman Chemical have led the charge in using venturing to spur corporate transformation and create long-term value. Learn how corporate and private VCs can work together to create profitable, sustainable investment strategies. What are some examples of corporations and VCs working together to build companies? How can you balance strategic vs. financial value? How can you prove value despite sagging returns? Mark Klopp, managing director, Eastman Ventures, Eastman Chemical Co. shares his thoughts on aligning investment strategies to drive innovation and generate returns. http://events.venturewire.com/briefingEvent.asp