Thursday, January 29, 2009
Startup Advisor, Former VC Probable Plane Crash Victim
According to a report from the Los Angeles times, Martin Schaedel, an advisor to a number of local startups and former VC, was the second victim in a plane crash in Santa Monica Wednesday. Confirmed dead was Paulo Emanuele, general manager of the website The men crashed in a two-seat, Marchetti SF-260, according to reports. No official word on Schaedel's identity was given, however, the LA Times quotes GumGum's Ophir Tanz as having confirmed the identification with NTSB invest (More info...)

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Meade Instruments Sells European Operations
Irvine-based Meade Instruments, a manufacturer of telescopes and other optical products, said Thursday that it has soled its European subsidiary to a buyout group for $12.4M. Meade said that the European unit distributes the company's products, and also sells products under the Bresser brand name. The firm said the move was part of an effort to look at strategic alternatives to secure liquidity for the firm. Meade also said that the European buyout group, Bresser GmbH, would continue to purchase (More info...)

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Overland Swaps CEO
San Diego-based Overland Storage has swapped out its CEO, saying earlier this week that it named board member Eric Kelly as its new CEO. Current President and CEO Vern LeForti will retain his title of President. Overland said in the appointment that Kelly was a key person in the purchase of Snap Alliance from Quantum Corp in 2002; the sale of Snap to Adaptec, Inc. in 2004, and the acquisition of Snap by Overland in June of 2008. Kelly has also served at M&A and consulting firm Silicon Valley Man (More info...)

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Siimpel's November Haul: $8.78M
Arcadia-based Siimpel, a developer of micro-electro-mechanical optical technology, hauled in $8.78M in its November funding, according to figures released in this week's PricewaterhouseCoopers/NVCA MoneyTree report. The firm--which disclosed the funding in November, but did not released financial terms of the round--is developing MEM-based optical systems which are targeted at enabling digital cameras in mobile phones and other mobile hardware. Siimpel's MEMs-based products provide autofocus, an (More info...)

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TranZfinity Expands Board
Carlsbad-based TranZfinity, a developer of secure payment products, said Wednesday that it has added a VeriFone executive to its board of directors. The firm said that Bud Waller, current Executive Vice President at VeriFone, has joined the company's board. Waller has been at VeriFone since 1986, and also served at General Electric. TranZfinity's products are based on near field communication (NFC) technology.

posted on Thursday, January 29, 2009(Full story)

MaintenanceNet Reports Growth In Q4
Carlsbad-based MaintenanceNet, a privately held provider of contract management services and extended warranty services, joined the parade of Southern California firms reporting strong fourth quarter revenues. The firm said that its fourth quarter revenues in 2008 were the "highest in company history" and said it had a year-over-year revenue grwoth of 35 percent for the year. The firm did not report actual financial results. Maintenance provides software-as-a-service which helps companies manage (More info...)

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Aquea Scientific Gets $10.95M
Ventura-based Aquea Scientific, which develops a UVA/UVB sunscreen which can be washed on or applied in the shower, has quietly raised $10.955M in funding. The funding was first disclosed in the PricewaterhouseCOopers/NVCA MoneyTree venture capital report over the weekend. No details of the funding have been released by the company, however, the firm is listed as a portfolio holding of the Hawaii Angels and McGovern Capital. According to regulatory filings, the funding closed sometime in the Sep (More info...)

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Tech Coast Angels Fast Pitch - February 24th, Korn Hall
Yes, Deals are Getting Done Even in This Environment!

To Find Out More, Attend the Fast Pitch Competition

Meet the Tech Coast Angels, the #1 source of capital to SoCal
Meet leading local Venture Capitalists who are doing deals
Hear from exciting new start up companies
Learn the art of the pitch

When: Tuesday, February 24th, 2009, 5:00-9:00 p.m. (NEW DATE)
Where: UCLA Anderson School of Management | Korn Hall

Nominate Your Startup for Under the Radar: Cloud Computing.
Dealmaker Media is announcing a CALL FOR COMPANIES for their 13th Under the Radar conference in Mountain View, CA on April 24, 2009. Do you have what it takes? Apply to be one of 32 cloud computing startups from around the globe to grace the stage in front of Valley VCs, Google, Microsoft, Amazon, Salesforce, Vmware and more.

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Apply Before January 30:

50% Off Conference Passes:

TriTech: Are you an early stage start-up that is ready for funding?
The TriTech Small Business Development Center (SBDC) provides consulting at
no charge to entrepreneurs that qualify. Through a grant from the Small
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equity they will help you rapidly grow your business organically.

Call the TriTech SBDC at 951- 571-6478 or visit their website at

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