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West Palm Beach (HedgeCo.net) – Trilibis Mobile announced today that it has raised $5.7 million in Series B financing.
Alternative Investor Altos Ventures led the round with participation from ATA Ventures and several early individual investors. Ho Nam, General Partner and Co-Founder of Altos Ventures, has joined the board of Trilibis Mobile. Mike Hodges, Managing Director of ATA Ventures, has joined as a board observer.
"Trilibis has done a great job of establishing relationships with Tier 1 carriers and proving out the SmartPath platform with key content partners," said Ho Nam of Altos Ventures. "With this capital infusion, we look forward to working with the Trilibis team to continue to take market share and grow the business."
The newly raised capital will be used to fund development of the next generation of SmartPath to include support for native applications for BlackBerry, iPhone, Windows Mobile and Android devices. Additionally, Trilibis will devote some of the capital to boost its marketing and sales efforts.
"The tremendous increase in consumer adoption of smart phones has fueled the growth in mobile data services usage," said Alex Panelli, CEO of Trilibis. "Our objective is to capitalize on this emerging trend."
With this funding, Trilibis has raised a total of $8.3 million since inception.
Altos Ventures is a first-stage venture capital firm focused on leading investments in emerging technology companies with the goal of building market leaders. Altos manages $200 million in dedicated first-stage capital on behalf of leading endowment, fund-of-funds, financial and family office investors based in the United States and Asia.
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West Palm Beach (HedgeCo.net) – Brotman Capital Management has chosen this, the worst year for hedge funds in over a decade, to launch its flagship Market Timing Fund.
Since inception through August 2008 the fund is up 14% net of fees. The fund has a $100,000 minimum investment, 2% Management fee and a 20% Incentive allocation.
Domiciled in Boca Raton, Florida, Brotman Capital Partners began trading in January 2008. The proprietary Trend Timing Model that the hedge fund employs dictates when the partnership should be long, short, or retained in cash.
Although trend timing is certainly not a mainstream Wall Street philosophy, the General Partner believes that the Trend Timing Model is valid and will deliver superior returns in the long run when compared to a “just buy and hold the S&P 500” philosophy.
"Even though most market gurus believe nobody can “Time the Market” correctly and consistently," Dr. Randy Brotman, Chairman and CEO, stated, "We are very pleased with our performance and we never use margin to enhance our results."
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New York (HedgeCo.Net) – Matt Cohler, one of the early faces behind the wildly popular Facebook, will join venture capital firm Benchmark Capital. Cohler will assist in locating investment opportunities in web based services and will work with the company’s portfolio businesses, all while continuing to work with Facebook.
“Matt has set his sights extremely high, and at his young age has already helped to fundamentally change the face of the internet,” says Benchmark general partner Peter Fenton. “We could not be more thrilled to add Matt’s talents, relationships and passion to Benchmark.”
Coming on board with Facebook in 2005, Matt joined Forbes’ “Youngest Billionaire” Mark Zuckerberg and enjoyed profits of $150 million last year. Facebook is estimated to be worth as much as $15 billion. Prior to that, he was the Vice President and General Manager of LinkedIn, another social networking site for business professionals.
Benchmark manages approximately $2.8 billion in assets.
Julie Scuderi Senior Editor for HedgeCo.Net Email: julie@hedgeco.net
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Altassets – Cleantech-focused venture capital firm RockPort Capital Partners has closed its third fund, RockPort Capital Partners III, on over $450m, the hard cap of the fund. It had an initial target of $400m and held a first closing just three weeks ago, on $400m.
The new fund will continue the focus of RockPort’s previous funds, investing in the development of technology and products in emerging cleantech companies.
The investor base consists of US university endowments, family offices, foundations and institutional investors from both the US and Europe.
Wilber James, managing general partner, RockPort, said, ‘The cleantech sector provides enormous opportunities to identify and foster initiatives that offer solutions to global energy and natural resource needs, while providing superior investment returns. We have already seen how the teams we invest in can create enormous value. Our collaborative approach together with a business-building mentality and keen domain expertise has proven invaluable to growing companies.’
