Angels Launch New Seed Capital Fund, DoCoMo Acquires PacketVideo, St. Bernard Gets Red Condor, & More San Diego BizTech News
A couple of deals topped the tech news last week, but the development most worth watching might be the formation of a new type of fund by Southern California’s Tech Coast Angels. Find out why, and catch up on the rest of San Diego’s tech news here.
—The angel investor group Tech Coast Angels is creating a new fund that will allow non-members to pool their money to collectively invest in seed stage startups, a move that could prove to be the most important news of the year for San Diego tech entrepreneurs in need of seed capital. This Angel Capital Entrepreneurial Fund (ACE Fund), which will be at least $3 million, is one more sign of the rising importance of angel investors.
—Japanese communications provider NTT DoCoMo said it was paying $111.6 million to acquire the stake in PacketVideo it didn’t already own. DoCoMo paid $45.5 million last year for a 35 percent stake in PacketVideo, a 12-year-old San Diego company that provides software and multimedia services for mobile devices.
—St. Bernard Software (OTCBB: [[ticker:SBSW), which specializes in hybrid hardware and software network security technology, acquired the assets of Red Condor, an e-mail security technology specialist in Rohnert Park, CA. St. Bernard did not disclose terms of the Red Condor acquisition.
—Ecotality (NASDAQ: ECTY) CEO Jonathan Read unveiled his company’s plans for a network of 1,500 electric vehicle charging stations that will be installed throughout San Diego County. Ecotality has been working on the charging infrastructure for six months with regional transportation planners, San Diego Gas & Electric engineers, and city and county officials.
—SG Biofuels said it is establishing an advanced research and … Next Page »