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mix1 Beverage Company Raises $6M from Highland Consumer Fund

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mix1 Beverage Company announced that it has closed a $6m first round of institutional funding led by the Highland Consumer Fund.
The Boulder, Colorado-based company provides all-natural products that support health, wellness and performance through functional nutrition.

The funding will be used to hire additional staff, provide more marketing support in key regions and enable additional investments in product development and innovation.

Bob Pinkerton, chief executive officer and chief financial officer said these resources will help the company to accelerate the growth of mix1 as a national, and potentially international, leader in functional nutrition.
John Burns, General Partner of the Highland Consumer Fund added that “mix1 is well-positioned to capitalize on increasing consumer interest and demand in protein beverages and all-natural healthy nutrition”.
FinSMEs
02/09/2009

USA, Dashwire Raises $1.1M

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Dashwire, a Seattle-based company that makes mobile-web synchronization software, raised about other $1.1m in equity funding led by Trilogy Equity Partners. 
This funding follows a $1.6m investment led by Best Buy Capital and angel investor Geoff Entress, both bringing the total amount of the round to $2.7m.
Funds will be used to build the platform that connects mobile phones to the web and allows data to be captured on the handsets and to boost hiring. 
FinSMEs
02/09/2009

Israeli BPT Closes $12M in Series B Financing

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Israeli company BPT announced today that it has completed its Series B financing, raising US $12m.
U.S. Venture Partners (USVP) and Pitango Venture Capital led the round with participation from existing investors Aurum Ventures and Elron Electronic Industries.

Proceeds will be used for expanding the manufacturing facilities, for continuing the Research activity and to further develop the sales and marketing infrastructure to meet increased worldwide demand.

The Rishon-Lezion-based company is focused on developing and commercializing advanced membranes-based separation solutions to address the needs of the water and wastewater treatment industries.

FinSMEs

02/09/2009

USA, North River Capital Acquires Axle Components Manufacturer

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Fort Wayne, Indiana-based equity capital firm, North River Capital LLC, acquired the assets and business of Wayne Manufacturing Corporation.
Wayne Manufacturing works in the axle component design and assembly market, providing complex component products to the transportation industry. The company employs 50 people in a 110,000 sq. ft. manufacturing facility on 14 acres in LaOtto, Indiana.
Originally founded in 1963 as Wayne Tool and Design, expansion into metal stamping and assembly led to the creation of Wayne Manufacturing Corporation in 1982. Going forward, the company will operate as Wayne Manufacturing, LLC.
In a statement from Dresner Partners, financial advisors to Wayne Manufacturing Corporation, Danny Rifkin, of North River Capital, was quoted as saying: “We’re excited about Wayne Manufacturing, and are looking forward to new opportunities in the industrial manufacturing sector. We have been impressed with the company’s performance through this cycle and credit excellent leadership and a dedicated team of outstanding people for this. We are confident that this culture will serve as a solid foundation for the company’s next phase of growth”.
FinSMEs
02/09/2009

Canada, Southern Ontario Businesses Will Have Better Access to Venture Capital

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Small businesses in Southern Ontario will have better access to venture capital.
A new investment announced today by Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), will provide $50m to the Business Development Bank of Canada (BDC), including $35m in capital to place direct investments in early-stage firms in Southern Ontario and $15 million to invest in Ontario-based venture capital funds focused on local opportunities.
The initiative is part of the Canada’s Economic Action Plan, which provides short-term stimulus to communities hard-hit by the recession while delivering long-term funding designed to promote economic growth, job creation and innovation. Budget 2009 provided $1 billion over five years for a new economic development agency for Southern Ontario.
The BDC, the Canadian business development bank with more than 100 offices across the country, will collaborate with the Ontario Venture Capital Fund and will continue to support the development of high-potential technology companies. The BDC’s investments cover every stage of a company’s development cycle, from pre-seed through expansion. and target different sectors such as Information and Communication Technologies, Life Sciences, and Energy.
FinSMEs
02/09/2009

Korea, SkyLake Incuvest Named Manager of New IT Venture Investment Fund

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The Korea Venture Investment Co. (KVIC) and Cisco announced that SkyLake Incuvest & Co. has been designated as the manager of a new investment fund to support Korean IT innovation.
The new fund, named “SkyLake Global Incuvest 4 (SGI4)”, was formally submitted to the Korean Financial Services Commission for approval today.
SkyLake will focus on investing in small and medium-sized enterprises in IT and new growth-engine industries. SGI4’s first closing is 100 billion KRW (US $80m) and will be active for eight years. KVIC, the Korean government-backed fund-of-funds manager, the Korea National Pension Service, Tongyang Life Insurance and Cisco are co-investors in the fund.
In an official statement, Hilton Romanski, vice president of Corporate Development at Cisco was reported as saying “Korea is world-renowned as a leader in ICT innovation, and Cisco’s anchor investment in the SGI4 fund underscores our belief in the innovative technology and ideas in this exciting market.
“Strong local venture capital and limited partners are the foundation for successful engagement, and the fact that Cisco is moving forward with a commitment of 40b KRW (US $32m) for the fund is indicative of the strength of SkyLake”.
Daeje Chin, CEO of SkyLake Incuvest, added: “Skylake Incuvest has a long-standing belief in the value of network technologies as a platform for innovation and looks forward to collaborating with Cisco in establishing this new fund. Korea Fund of Funds’ involvement in this initiative acted as a vital factor in completing the first closing of the fund, and we plan to show our gratitude by executing investments where both investor and investee come out as winners”.
FinSMEs
02/09/2009

PinPointe USA Secures Additional Venture Capital Funding

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PinPointe USA, a medical technology company received venture capital funding from Western Technology Investment.
As stated by Bob Katz, President and CEO of PinPointe USA, “this new investment will allow accelerated development of a variety of international business opportunities”.
Founded in 2004, Chico, Ca.-Based PinPointe USA has developed and brought to market a new generation of laser technology to address onychomycosis (toenail fungus) and other footcare therapies.
FinSMEs
02/09/2009

USA, Fwix secured Series A Funding

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Fwix, a San Francisco-based newswire that delivers locally relevant news and allows people to find and contribute stories that are targeted to local communities, secured Series A funding from BlueRun Ventures.

Founded in 2008, the company offers an advanced platform for finding, aggregating, optimizing, and categorizing news and brings together citizen journalists, news organizations and distribution technology to deliver a new model for news creation and consumption. 

Fwix is currently available in 80 U.S. and Canadian cities reaching an audience of 8m unique visitors per month.

USA, BrightScope Secures $2M in Series B Funding

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BrightScope, a 401k ratings and analytics firm, raised $2m in Series B funding led by an angel investment from Jim Caccavo of Steelpoint Capital Partners joined by a group of operating executives and principals from hedge funds and private equity firms.
BrightScope, that quantitatively rates 401k plans and gives employers, employees, and brokers tools to enhance plan performance and maximize retirement outlook, will use the capital in order to build out its database of 401k plan data and analytics, and further develop its robust suite of products and services.
In an official statement, Mike Alfred, CEO and co-founder of BrightScope, was quoted as saying: “We are thrilled to close this round of financing in what is clearly an extremely difficult economic environment. 
“The fact that we’ve raised this funding from such high caliber investors speaks volumes about BrightScope’s commanding position in the burgeoning market for retirement plan information and analytics”.
FinSMEs
02/09/2009

USA, SBA Launches Online Course on How to Win Federal Contracts

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The U.S. Small Business Administration launched a new online training course to help strengthen access to contracting opportunities for small businesses.
The course, named “Recovery Act Opportunities: How to Win Federal Contracts” is part of a federal government-wide initiative led by SBA and the Department of Commerce. It uses both audio and script to provide information about the federal marketplace, contract rules and, most importantly, how to sell to the government and where to find contract and Recovery Act opportunities.
In order to simplify its use, the course is indexed by subject matter and includes direct links to external contracting resources.
It is available 24/7 on SBA’s website at www.sba.gov or directly at www.sba.gov/fedcontractingtraining.
Over the next weeks, procurement officers are participating in more than 200 events even to connect small businesses with contracting opportunities.
FinSMEs
02/09/2009

UK Small Businesses are waiting up to 4 months to be paid, FSB says

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A research from the Federation of Small Businesses (FSB) reveals that UK small firms are waiting up to 4 months for invoices to be paid by several big companies and around 4,000 business failures were caused by late payments last year.
The research even shows that one in three FSB members are waiting longer to be paid during the credit crunch.
John Wright, National Chairman, of FSB was quoted as saying: “Poor payment practices in both the public and private sector can drastically affect cash-flow for small firms at a time when business owners are doing their best to hold on to precious funds”.
Accordind to a statement released today from the FSB, last year a number of small businesses have contacted the FSB naming several large companies such as delivery firm TNT, courier company DHL, food producer Bernard Matthews, catering company the Compass Group, builders firm Jewson, brewer Carlsberg and shopping website Amazon extending their payment times.
In response, the FSB has written to these companies in order to explain how badly late payment affects the cash-flow of small firms, particularly during this tough period, and is urging them to sign up to the Prompt Payment Code, the initiative developed by Government with the Institute of Credit Management (ICM) to tackle the issue of late payment.
FinSMEs
02/09/2009

European Investment Bank to support SMEs in Romania

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According to an official statement, the European Investment Bank (EIB) is providing two intermediated loans to support the projects of small and medium-sized enterprises in Romania: €80m to Bancpost S.A. and €60m to EFG Leasing IFN S.A.
The loan to Bancpost Romania will finance small and medium-scale projects promoted by SMEs in various sectors of industry, agriculture, tourism and services.
The loan to EFG Leasing Romania will support smaller projects in Romania in the areas of industry, services including tourism, agriculture, health, energy and environmental protection, usually promoted by SMEs, with up to 30% also being available to finance the projects of mid-cap enterprises and public sector entities.
FinSMEs
02/09/2009

Funding opportunity to deliver international trade services in London

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The London branch of the UK Trade & Investment (UKTI) is seeking an organisation or partnership to assist London exporters expand their international capability and to assist more experienced companies in developing their business in emerging markets.
The appointment will be made after an open bidding competition and interested parties are invited to submit their expressions of interest to UKTI by 11 September 2009.
The successful organization will be also expected to deliver additional international business services including advice on: the mechanics of exporting, payment arrangements and logistics, plus specialist support in language and communication services, and advice on specialist markets and sectors.
The grant funding will run for three years from April 2010.
For further details, visit UKTI’s website at www.uktradeinvest.gov.uk
FinSMEs
02/09/2009

Federal Home Loan Bank of San Francisco, over $1M in Grants for Arizona, California, and Nevada

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The Federal Home Loan Bank of San Francisco awarded more than $1m in Access to Housing and Economic Assistance for Development (AHEAD) Program grants to boost economic development and housing projects in Arizona, California, and Nevada.
With individual grants averaging between $25,000 and $50,000, these incentives will help 15 of the Bank’s member financial institutions support 33 projects during the conception and early development phases.
Among the awarded recipients this year, there are initiatives and programs designed to:
– assist households and communities affected by the ongoing foreclosure crisis
– establish job training programs focused on a green economy
– foster entrepreneurial social enterprises that create living-wage jobs
– expand opportunities for small business loans and microfinance in underserved communities
– support small urban and rural agricultural endeavors and healthy food production and distribution
– provide incentives and support for the uninsured to open healthcare savings accounts
Since the program was launched in 2004, the Bank has awarded more than $2.5m in AHEAD funds to support nearly 100 projects in Arizona, California, and Nevada.
FinSMEs
02/09/2009

New York, Mayor Bloomberg Welcomes 27 Startups to City-Sponsored Incubator

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Mayor of New York Michael R. Bloomberg welcomed the first 27 businesses to the City-sponsored 160 Varick Street Incubator.
According to an official press release, more than 300 startups have applied to lease space at the incubator, which is now fully subscribed. It will be expanded during the Autumn to offer space to another 15 companies.
Bloomberg also pledged to create up to 4 other incubators, which could host about 150 startups.
The action is part of the Bloomberg Administration’s Five Borough Economic Opportunity Plan, the strategy to bring New York City through the current economic downturn as fast as possible.
FinSMEs
01/09/2009
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