Belenos Announces $20 Million in Second Round Financing; Funding to Capitalize On Expanded Market Demand.Business/Technology Editors BOSTON--(BUSINESS WIRE)--July 10, 2000 Belenos, Inc., the leading provider of network engineering consulting to emerging service providers, today announced that it has successfully raised $20 million in second round venture financing. The round was led with a $15.0 million investment from the Investcorp/(212) Ventures Technology Fund I, LP, a New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. based private equity fund focusing on technology investments in infrastructure/Web services, marketing services, and wireless services. Its largest investor is Investcorp Investcorp is a leading provider and manager of alternative investment products, serving high-net-worth private and institutional clients. Investcorp has four lines of business: private equity in North America and Western Europe, global hedge fund offerings, real estate investment , the global investment firm with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , London London, city, Canada London, city (1991 pop. 303,165), SE Ont., Canada, on the Thames River. The site was chosen in 1792 by Governor Simcoe to be the capital of Upper Canada, but York was made capital instead. London was settled in 1826. and Bahrain. Belenos' first round investor, First Union Capital Partners, also joined with a follow on investment of $5.0 million. "The addition of capital and exciting new partners, (212) Ventures and Investcorp, position us to accelerate our strategic operating plan," said Brian Costello, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Belenos. "We have seen growing market demand for our services and look forward to expanding our geographic presence while making the necessary investments in infrastructure," he added. "We are also fortunate to be able to partner with a firm that complements our existing relationship with First Union Capital Partners." "Belenos operates in a sector that is becoming recognized as a critical component in the development and growth of the Internet-based economy," said Mark Kennelley, partner at (212) Ventures. "By focusing on the service-provider market, Belenos targets corporate customers with market expertise tailored to meet very specific needs." Belenos has named Mark Kennelley, partner in (212) Ventures, to its board of directors. Mark Kennelley joined (212) Ventures from Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , where he served as a managing director in the Investment Banking Group. He currently serves as a director of Bigfoot Interactive and Mighty Seven Networks. "First Union Capital Partners invested for a second time in Belenos because of our firm belief in Belenos' exceptional talent base and strong business plan," said David Scanlan David Scanlan is the founder & Director of Investigations for the Hampshire Ghost Club (UK). He was born in Portsmouth, Hampshire, UK on 5 March 1975. He founded the Hampshire Ghost Club in 2001 with the intent that the group research, investigate and evaluate ghosts , principal, First Union Capital Partners. "With rapid expansion across the country, and the establishment of six focused practice areas, Belenos continues to be a strategic, timely and very exciting investment," added Scanlan. About (212) Ventures (212) Ventures, Inc. is a New York City-based venture capital firm that manages the Investcorp/(212) Ventures Technology Fund I, LP. Its partners have extensive experience investing in, managing and financing the growth of technology companies. The (212) Ventures partners have invested or played a major management or advisory role in such companies as Spinner.com, Wired Planet.com, Real Names Corporation, Reset Inc., Gooey See GUI. Inc., MethodFive.com, Localview.com, MobileLogic Inc., BigFoot Interactive and Mighty Seven Networks. More information can be found at www.212ventures.com. About Investcorp Investcorp is a global investment group with offices in London, New York and Bahrain. It focuses on corporate investment, real estate investment and asset management. Established in 1982, the Firm has completed investments in a range of industries with an aggregate value in excess of $17 billion. Within technology and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , Investcorp has made a series of major investments, including Stratus stratus: see cloud. (Stratus Technologies, Maynard, MA, www.stratus.com) A manufacturer of fault-tolerant computers founded in 1980. It supports both the VOS and FTX Unix operating systems on its XA/R line of i860-based systems. , Independent Wireless One, TelePacific Communications, Aspective, MobileLogic, Nupremis and Colo.com. As part of Investcorp's recently launched global technology initiative, the Firm has formed a partnership with (212) Ventures, Inc., a New York-based venture capital firm to invest in the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the infrastructure, Internet services and wireless Internet sectors. More information on Investcorp can be found at www.investcorp.com. About First Union Capital Partners First Union Capital Partners is the equity-investing group of First Union Corporation, the nation's sixth largest bank holding company. Founded in 1988, First Union Capital Partners has invested approximately $2.2 billion in over 145 companies. The group has invested in a broad spectrum of situations that include young emerging growth companies and mature free cash flowing entities, as well as in a multitude of industries including Technology, Telecommunications, Healthcare, Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and Basic Manufacturing. Capital Partners enters 2000 with a new $1.5 billion commitment from its parent. More information on First Union Capital Partners can be found on the World Wide Web at www.firstunion.com. About Belenos Founded in 1998, Belenos designs and builds next generation voice and data networks for emerging service providers. Belenos assists service providers in launching new services, growing their network and acquiring new customers by leveraging expertise via six practice areas: Emerging Data Networks, Telecommunications, Network Security, Wireless, Network Management and Systems & Applications. The Company's emphasis on assembling a vibrant culture has attracted some of the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae talent in the industry, allowing Belenos to establish a national presence organically with headquarters in Boston, MA, and additional locations in Reston, VA; New York, NY; Denver, CO; Lisle lisle n. 1. A fine, smooth, tightly twisted thread spun from long-stapled cotton. 2. Fabric knitted of this thread, used especially for hosiery and underwear. , IL; Tampa, FL and Charlotte, NC. More information about Belenos can be found at www.belenosinc.com. |
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