Issue date: December 23, 1998

Tech Report Tech Report (December 23, 1998)

News from technology and venture capital companies.

Venture capital. The Western Association of Venture Capitalists, based in Menlo Park, and VentureOne Corp. in San Francisco have created a web site for the 140 venture capital firms that are members of WAVC. The site, at www.wavc.net, contains regional investment statistics, member-firm profiles, and news. A free WAVC membership roster is available by mailing a request to: WAVC, 3000 Sand Hill Road, Bldg. 1, Suite 190, Menlo Park, CA 94025.

New Enterprise Associates, a Menlo Park venture capital firm, has named as a venture partner Arno A. Penzias, who won a 1978 Nobel Prize in physics for contribution to public understanding of astrophysics, and for his advancement of proof of the Big Bang theory. Dr. Penzias, who has been an adviser to NEA for 18 months, is also senior technology adviser to Lucent Technologies, Bell Labs Innovations. He is author of articles and books on information technology and its impact on business and society.

SRI International, a technology-development and consulting firm in Menlo Park, recently announced that Philip Quigley, former chairman and CEO of Pacific Telesis, and Mariann Byerwalter, CFO of Stanford University, have joined SRI's board of directors. Curtis R. Carlson, who became SRI International's president and CEO on December 1, was also elected to the board.

Homestead Technologies Inc. of Menlo Park offers to donate $1 to the Peninsula chapter of Habitat for Humanity for each new member who registers at http://www.homestead.com through the end of the year. Homestead helps individuals and groups create free, personal Web sites to communicate and collaborate with family and colleagues around the world.

Mirapoint, an Internet e-mail software company based in Menlo Park, reported it has been selected one of Data Communications magazine's Top 25 Hot Startups of 1998. Privately held Mirapoint, founded in 1997, was recognized for its Internet e-mail thin servers designed for corporate users and Internet Service Providers. Satish Ramachandran is founder and CEO of Mirapoint.

Geron Corporation, a Menlo Park biopharmaceutical company, recently announced that it entered into an agreement to sell $15 million in convertible zero coupon debentures to investment funds. This financing brings total cash available to $56 million, which will "allow Geron to accelerate development programs relating to recent discoveries in embryonic stem cell technology as well as our telomerase programs," said David L. Greenwood, chief financial officer.

Accom Inc., a Menlo Park company, has acquired the digital video business of Scitex Corp., a digital graphics company based in Herzlia, Israel. The sale was for approximately $10 million and warrants convertible into approximately 10 percent of Accom shares. Accom makes digital-video products for television broadcasting, computer video, production, and post-production.

New Enterprise Associates, a venture capital firm in Menlo Park, recently announced its newest venture fund, NEA VIII, with total committed capital of $550 million. This brings total capital raised by NEA since its inception in 1978 to $1.5 billion, the firm said. NEA invests in early-stage, information-technology and life-sciences ventures.