Ken MacFadyen

TVG Capital Partners, famous for bets on Japan Telecom and inter-touch, has launched its third fund, a $500m vehicle that has already amassed $100m in commitments.

General Catalyst Partners has held a $365m interim close for its fourth fund, putting the Massachusetts-based VC group near its $375m target.

Investcorp wrapped up the fundraising for its second ‘venture-buyout’ fund, closing on $300m for its Investcorp Technology Ventures II. The fund, which was oversubscribed, exceeded its target by $50m.

Palo Alto-based Technology Crossover Ventures corralled $1.4 billion (€1.19 million) for its latest fund. The fundraise represents a 55 percent jump over its predecessor fund, but still does not match the $1.7 billion raised in 1999.

Brazos Private Equity Partners has carved the ORS Nasco unit out of Ireland’s Unidare plc, acquiring the US wholesale distributor in an $81m deal.

New York-based Diamond Castle Holdings has agreed to acquire the 49 percent stake of wind energy generator Catamount Resources that it doesn’t already own. The firm had bought a 51 percent stake in Catamount last month.

Vector Capital and BroadVision have walked away from a proposed $29m transaction that would have taken BroadVision off the public market.

Gryphon Investors has returned roughly 100 percent of its invested equity in Eight O’ Clock Coffee Company. The San Francisco-based firm acquired the business in November 2003, and in the two successive Novembers since, has taken out a dividend through a recapitalisation.

General Atlantic has brought in UBS veteran Raul Rai to serve as a principal in its Mumbai office.

Chicago-based Linden LLC has held a more-than $100m first close on its inaugural fund. The firm, launched by One Equity vet Eric Larson, is competing on the fundraising trail with another One Equity spinout with an overlapping track record.