Wednesday, August 2, 2006
LAVA 17th Annual Venture Capital Panel - August 8th
LAVA Breakfast Meeting
17th Annual Venture Capital Panel

Tuesday August 08, 2006
The Regency Club

Now in its 17th consecutive year, you shouldn't miss our annual focus on venture capital featuring a stellar panel of partners and principals of Southern California's most active sources of VC funds. These funds represent well over a billion dollars of capital under management invested in hundreds of companies. They are also among the most active investors in Southern California as tracked by both's Venture Capital Database and PricewaterhouseCoopers' MoneyTree survey. Don't miss this event! Register now at:

Altra Raises $120M in Series B
Los Angeles-based Altra, a developer of renewable fuel projects, has raised $120M in a Series B funding, the firm said this week. The new round of funding included its existing investors, Kleiner Perkins Caufield & Byers, Omninet Private Equity, Sage Capital Partners, Angeleno Group, and Khosla Ventures, along with Duff Ackerman and Advanced Equities. This round follows a recent funding in April, and brings the total raised by the ethanol producer to $250M.

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Interview with Hamet Watt, Founder, NextMedium
Los Angeles-based NextMedium ( is a company that is
developing an online marketplace for brand integration and advertising. The firm just announced a second round of funding last week from Bessemer Venture Partners, Ascend Venture Group, and Globespan. Hamet Watt is the founder of the firm. We caught up with Hamet to hear more about the firm and how it's hoping to create an"Advertising 2.0" model. (Photo courtesy of Martin Schaedel)

Ben Kuo: What's NextMedium about?

Ham (More info...)

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Quest Delays 10-Q Filing
Aliso Viejo-based Quest Software, a provider of software for application, database, and infrastructure management, said Tuesday that it will release its Q2 results on August 8th, but that its 10-Q filings will be delayed. The firm said that the delay is a result of the company's investigation into stock option grant practices and related accounting issues, which have not yet been completed. Quest is one of the many technology companies which are either internally investigating stock options back (More info...)

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Teledyne Buys Ocean Design For $30M
Los Angeles-based Teledyne Technologies has acquired Ocean Design, a Daytona Beach, Florida-based manufacturer of subsea, wet-mateable electrical and fiber-optic interconnect systems, the firm said Tuesday. Teledyne said it paid approximately $30M for the firm. ODI's equipment is used in offshore oil and gas production, oceanographic research, and military applications. Teledyne is a provider of electronic components for the systems engineering, aerospace, and other industries.

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Language Weaver Gets Educational Win
Los Angeles-based Language Weaver reported Tuesday that it has sold its automated language translation tools to Education Testing Service (ETS). ETS will use Language Weaver's machine-based translation software for modifying classroom reading assignments to support English/Spanish reading assignments for English language learners. Terms of the deal were not disclosed. Language Weaver develops translation software that is based on statistical machine translation techniques.

posted on Wednesday, August 2, 2006(Full story)

SAIC Buys bd Systems
San Diego-based Science Applications International Corporation (SAIC) said Tuesday that it is acquiring bd Systems, a Torrance-based provider of aerospace engineering and information technology services. Terms of the acquisition were not disclosed. bd Systems employes more than 300 people supporting government and commercial clients, in the areas of systems engineering, enterprise network management, aerospace engineering, logistics and sustainment support, geographical information systems, and (More info...)

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EarthLink Hooks Into Pasadena
Atlanta-based Internet Service Provider Earthlink said Tuesday that it is expanding into another citywide municipal wireless deal, this time with the City of Pasadena. Earthlink said it will build, own, and operate a 23 square mile citywide, municipal wireless WiFi network. The new network will offer residents discounted Internet access, at symmetrical, 1 Mbps speeds. The deal is the latest municipal wireless deal for EarthLink, which has been shifting its services from reliance on dial-up to wi (More info...)

posted on Wednesday, August 2, 2006(Full story)

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