West Palm Beach (HedgeCo.net) - PureWave Networks Inc. has raised $12 million in Series B funding. ATA Ventures and Leapfrog Ventures were joined by venture funds Allegis Capital and Benhamou Global Ventures.

Two new funds, ATA Ventures and Leapfrog Ventures, have joined PureWave’s existing investors in completing the funding round. The Series B funding will allow PureWave to commercially introduce its advance beam forming WiMAX base stations in North America, the APAC region and other selected markets and to expand its operations.

”PureWave’s strong balance sheet in this challenging economic environment, together with our leading edge product offering, will be the foundation of our future growth,” said Gideon Ben-Efraim, PureWave’s CEO and Chairman. 

PureWave, a Silicon Valley Company, is a supplier of high-performance adaptive beamforming 4G base-stations currently supporting standard WiMAX devices, enabling delivery of quadruple-play services (Voice, Video, Data, Mobile).

Leapfrog is an early stage technology investor based in Menlo Park, CA. The principals have collectively been involved in over 60 venture investments. Leapfrog is currently investing from its second fund, which commenced its activity in 2005.

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

Alex AkessonEditor for HedgeCo.NetEmail:

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Guardian Unlimited- The struggling internet company Yahoo has struck a pact with its billionaire critic Carl Icahn by giving the hedge fund activist a minority presence on its board to avoid a potentially tempestuous showdown at a shareholder meeting next month.

Facing crumbling support among Yahoo investors, Icahn yesterday abandoned his efforts to overthrow the leadership of the embattled Silicon Valley company and force its sale to Microsoft.

Instead, the 72-year-old Icahn & Co hedge fund manager is settling for an offer of three seats on Yahoo’s board. One director will stand down and the board will expand from nine to 11 members. Wall Street analysts greeted it as a qualified victory for Yahoo’s founder, Jerry Yang, who has pressed hard to maintain its independence and who waged an energetic campaign to discredit Icahn.

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