Friday, February 22, 2008


Miles Electrical Vehicles Scores $15M
Santa Monica-based Miles Electric Vehicles, which is developing plug-in electrical vehicles, said today that it has raised $15M in an investment round from Angeleno Group and other investors. The firm said that it will use the funding to advance development of the company's MILES XS500 highway speed sedan. The firm said that its sedan will have a range of over 120 miles per charge and reach speeds of over 80mph. Miles Electrical Vehicles is headed by Miles Rubin, and was founded in 2005. Miles E (More info...)
posted on Friday, February 22, 2008 (More)(Full story)

Avalon Ventures Boosts Funds By $150M
La Jolla-based Avalon Ventures said earlier this week that it has closed on a new, $150M venture capital fund, Avalon VIII. The early stage investment group said that the eighth venture capital fund is the group's largest to date; LPs in the funding include Harvard Management, AlpInvest Partners N.V., Paul Capital and Grove Street Advisors, all prior investors in its last fund. Avalon has added Richard W. Levandov and Dr. Jay B. Lichter as managing directors to the firm as part of the new fund. (More info...)
posted on Friday, February 22, 2008(Full story)

MSC.Software Inks Deal With Boeing
Santa Ana-based MSC.Software said Thursday that the firm has inked an agreement with The Boeing Company, where Boeing will use the firm's products for simulation. MSC.Software said The Boeing Company will use the firm's Enterprise Advantage systems for next generation simulation, under a new multiyear agreement. Financial impact of the deal was not disclosed. MSC.Software's product is used for engineering analysis and simulation of product designs, along with computer aided engineering (CAE) and (More info...)
posted on Friday, February 22, 2008(Full story)

Conexant Loses Director
Newport Beach-based COnexant Systems said today that John W. Marren, a member of its board of directors, has resigned. Marren has been on Conexant's board of directors since February 2004, when he joined the board in conjunction with Conexant's merger with GlobespanVirata. Marren is a partner at private equity firm TPG Capital. According to a statement from Conexant, Marren said he resigned to "focus on my other responsibilities and obligations."
posted on Friday, February 22, 2008(Full story)