Subject: Venture News, Friday, November 17, 2000
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Date: Fri, 17 Nov 2000 01:38:00 -0800 (PST)

o Net Software Firm Tridium Raises $20 Million in First Round

RICHMOND, Va. -- Tridium, a provider of Web-enabled,
automation software infrastructure, said it closed
a $20 million first round of funding. kRoad Ventures
and Enron North America each contributed $10 million.
The company said it will use the funds to increase
sales and technical support offices in North America,
expand its operations into Europe and Asia, and
enhance its technology and products. Tridium develops
and markets Niagara Framework, a software infrastructure
that allows companies to build software applications
for accessing, automating, and controlling smart
devices in real-time over the Internet. A representative
from kRoad and Enron will each join the company's
board of directors.
http://www.tridium.com/
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ChemCross and Omnexus form strategic alliance
Nov 17, 2000 10:05 AM ET 

HOUSTON, Nov. 17 (LocalBusiness.com) -- ChemCross, an Internet trading portal 
for chemical and plastic companies in Asia, has formed a strategic alliance 
with Omnexus, an online marketplace focused on delivering products and 
related services to the plastics industry. 

Michael Lee, vice president of marketing at Houston-based ChemCross, said the 
alliance helps it diversity its source base by connecting with buyers and 
sellers in the United States and Europe. 

"This alliance makes strategic sense for both companies, and we look forward 
to moving ahead quickly," he said. 

Yaarit Silverstone, interim CEO of Omnexus, said the alliance has "powerful 
synergistic possibilities." 

More than 60 major chemical and plastic companies in Asia support ChemCross, 
which, in addition to its Houston headquarters, has offices in Seoul, Korea, 
Shanghai, China and Tokyo. 

Omnexus is based in Zurich, Switzerland, with its United States operations 
handled from an office in Atlanta. 
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o Market Forcaster Opion Launches with $6.5 Million Series A

HERNDON, Va. -- Opion, which provides real-time
market information and forecasting services, said
it launched with a $6.5 million Series A round of
funding. New Enterprise Associates and Capital Investors
Group led the round that included Avatar Capital
Partners, Avansis Ventures, Science Applications
International, and Schoffstall Ventures. The company
will use the funding for further research and development
as well as sales and marketing. The company was
co-founded by Nick Arnett, who was most recently
vice president of marketing for software firm Invisible
Worlds, and by former Network Solutions senior vice
president and CTO David Holtzman, who serves as
Opion's chairman and CEO. Opion analyzes public
Internet interactions to make market forecasts.
http://www.opion.com/
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o Financial Info Streaming Media Firm RAW Lands $27 Million

LONDON -- RAW Communications, a broadband media
company that distributes financial messages from
corporations and brokers to institutional and retail
investors, said it completed a $27 million round
of funding led by Providence Equity Partners. 3i
Group, an existing investor, and Intel also participated.
The company said it will use the funding to expand
RAW's broadband media network and related production
hubs. The company plans to expand further in the
U.S. and Europe and to establish a foundation in
Asia. A source close the company said a representative
from Providence Equity will join RAW's board.
http://www.rawcommunications.com/
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o Bandwidth Exchange Band-X Names Cable & Wireless Exec CEO

NEW YORK -- Band-X, an international bandwidth exchange,
said it appointed Stephen Beynon to chief executive
officer. Mr. Beynon is currently managing director
of the data and business services division of Cable
& Wireless Optus. Band-X launched an independent
virtual market for international wholesale telecom
capacity in 1997. The exchange provides four trading
branches: networks, an online exchange for the trading
of wholesale broadband networks; co-location, a
specialist commercial property agency for the trading
of international telehousing; switched, a facilities-based
exchange for international voice traffic; and routed
IP, an exchange for wholesale Internet traffic.
Band-X is backed by its founders Goldman Sachs,
Morgan Stanley Dean Witter, and Madison Dearborn
Partners.
http://www.band-x.com/
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o Dresdner Kleinwort Benson Launches $125 Million Japan Fund

TOKYO -- The private equity division of Dresdner
Kleinwort Benson (Asia) has launched a fund concentrating
on Japanese technology startups. The Japan Technology
Fund will hold approximately $125 million in capital
and make initial investments of approximately $5
million. Dresdner Bank has invested $25 million
in order to  launch of the fund.
http://www.dresdnerkb.com/
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o Whitney & Co. To Raise a $2.5 Billion Global Fund

NEW YORK -- Whitney & Co. said it is planning to
raise a $2.5 billion global fund next year, which
will include an allocation for Japan. The venture
capital firm, which has offices in New York, Boston,
San Francisco, London, Tokyo, Hong Kong, and Singapore,
started to invest outside of the U.S. 2 years ago.
http://www.whitney.com/
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