Italy VC & IPO Newsletter

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ITALY VENTURE CAPITAL & IPO NEWSLETTER, NOV. 20, 2000

VC deals - IPOs - Internet - TLC -  UMTS
Weekly closing prices on Nuovo Mercato Venture Capital & IPO companies profiles
Technology Transfer - Internet JOBS - VC & Finance Conferences

ITALIAN ECONOMY & FINANCE NEWS DIGEST

NUOVO MERCATO INDEX : FRIDAY CLOSING, Nov.20: Gainers & losers tie:  
-0.25, on average
(all closing prices in FULL VERSION)

EDITORIAL - Gainers & losers tie.
The week closed with a tie between gainers and losers in a almost 
perfect bell shaped curve. The index average moved only slightly to 
the left at -0.25. Market sentiment continues to closely reflects 
NASDAQ's worries.

VENTURE CAPITAL
MEDIOBANCA VENTURE CAPITAL FUND, editorial group HDP & RCS and 
CIANCIO GROUP underwrote 56% ca. of MY-TV, metropolitan TV network 
broadcasting via web local news. Production  & advertising are 
expected to contribute 50/50 to revenues. Break-even anticipated in 
Q202.

3i EUROPE underwrote E 16 mil of a new share issue by eDREAMS 
bringing the authorized capital to about E 40 mil . eDreams is the 
first theme travel leisure portal in Italy with 500.000 unique users 
in Italy & Spain and E10 mil circa in revenues. French mirror 
anticipated for 2001.


COMPANIES SEEKING VENTURE CAPITAL
(Executive Summaries in http://www.help-finance.com/2deals.htm

(0127) TVP (Web B2B Marketing) - CA, USA - Seed to 2° Round )(New)
TVP is a business-to-business marketing company that aggregates 
value-oriented content (i.e. coupons, rebates, sweepstakes) for 
distribution on high-profile web sites and through Wireless.
(0126) PBC (Food & beverages) - Nigeria - Expansion)(New)
The Company has developed Nutraceuticals, exotic drink flavors 
containing 20% of the daily-recommended bio-active ingredients 
intake, thus merging the need of daily intake of drugs as prescribed 
and the desire to consume food and drinks.
  (0125) IQI (IT Solutions & Software) - India - Expansion)
(0124) ARI (Engine Usage & Maintenance Alert Meters) - USA - Development)
(0123) ACS (Sail/Engine Boats Automated Navigation System  - Italy - Seed
(0122) SCF (Fresh Toasted Coffee Franchise - ITA - 2°)
(0117) EIA (Internet Portal, Arts & Entertainment - USA - 2° Round)
(0116) DHP (TV, Animation,  Multimedia - U.S.A.- Start-up funding)



NUOVO MERCATO NEWS
IPO of the Week : None

Impending IPO:  (full IPO pipeline schedule - request it via email)
Last Minute Tour, Italian web-bases tour operator, postponed IPO due 
to market uncertainty, announced MARCELLO SALA, CFO. IPO originally 
planned for July by CABOTO, global coordinator, was postponed to the 
end of this year and now to Q1 next year. New portals are due to be 
opened in Spain, France & UK in the next few weeks and year-end 
revenues are projected at E 20mil ca.

EL.EN, laser source technology company, has been admitted to Nuovo 
Mercato with the offering due in the last week of November. Global 
coordinators are MELIORBANCA and BANCA TOSCANA which owns 15% of the 
company. EL.EN revenues and net earnings in 2Q00 were E 12.5mil and E 
2.0 ca.
              
REPLY, web consulting & solutions company, is due to IPO at the 
beginning of December., announced MARIO RIZZANTE & RICCARDO 
LONIGIANI. The company, which announced expansions plans for Europe, 
closed Q2 with E15 mil and E1.2 mil in revenues and earnings, 
respectively. ROBERT FLEMING and BANCA MOBILIARE ALETTI are Sponsors 
and Managers.

Veterans
The week closed with a tie between gainers and losers in a almost 
perfect bell shaped curve. The index average moved only slightly to 
the left at -0.25. Market sentiment continues to closely reflects 
NASDAQ's worries. 


The Gainers
Gainers were led by CTO, with 9%, TC SISTEMA and CHL, with around  5% 
. Biotech IPO NOVUSPHARMA gained lost ground but remained under IPO 
price.

The losers
Losers were led by FREEDOMLAND,  badly battered with a -10% after the 
strong gains which followed the Board room reshuffle with the 
nomination of LUIGI GUATRI as president, BB BIOTECH, the Zurich-based 
Biotech Investment company which lost 9%, OPENGATE , VITAMINIC and 
GANDALF which all lost around 5%. 

All the others moved slightly or not at all.

Other NM Companies:

TISCALI moved slightly ahead with a +1.1% on speculation of a 
takeover of UK ISP FREESERVE ( which skyrocketed on rumors a hefty 
+20%) and on revenue growth increase in first 9 months to E 121mil. 
Tiscali's bottom line is still in the red with an operating result 
of  E -40mil.

DATA SERVICE:  greenshoe exercised totally by INTERBANDA & INTERMONTE 
SECURITIES. The Float is now at 31% and shareholders include families 
ARVATI (41,09%) and MARTUSCIELLO (11,45%) with Management at 13,82%.

TXT E-SOLUTIONS announced J-V with Spanish  RUBIRALTA for Spanish & 
Portuguese speaking world.  President of the JV will be TXT's 
President, ALVISE BRAGA Illa.
                           
BRITISH TELECOM exercised its option to reach control of publicly 
traded I.NET by purchasing controlling stakes from founders and 
venture capitalists for E 202 mil.  Publicly traded I.NET is 
controlled by BT with 50.8%; the rest is so divided: 23.3% float, 
13.2% founders and 13.7% Etnoteam.

AISOFTWARE subsidiary INFUSION announced  35% investment in Ludonet 
for nearly E 1.8mil . LUDONET is active in solutions & management of 
online entertainment. 

9 months results (vs. 1999):
ART'E': +34% increase in revenues at E 21.5mil
TECNODIFFUSIONE: +90% increase in revenues to E 101mil 
CHL:  + 37% increase in revenues at E 58mil 
DATAMAT + 31,3 % increase in revenues to E 91 mil.
INFERENTIA: + 343% increase in revenues at E 11.5mil
ACOTEL: + 122% increase in revenues at E 6mil
E.BISCOM: net losses at  E 51mil , in line with plan
PRIMA INDUSTRIE: +56% at E 59mil.


INTERNET
Internet Companies

Portal Deals & News:
KOINET ( FIAT group), an e-business solution portal,  recruited six 
additional e-business solution providers, bringing the number to 32.

IOL ( INFOSTRADA) the  Italian portal with the highest number of page 
views closed a channel deal with bank SANPAOLO-IMI for financial 
content.

VIRGILIO , tsecond largest portal in Italy, inked an agreement with 
WALT DISNEY for the  Italian mirror of DISNEY BLAST, an online 
entertainment service for kids already available in USA.

Internet & Politics
Web sites , especially e-commerce web sites will be certified on the 
basis of privacy policy, announced Privacy Law enforcer STEFANO 
RODOTA'.


TELECOMMUNICATIONS (TLC)
UMTS
TLC ANTITRUST  announced that it has opened a review of the auction 
based on "suspicion of irregularities of the dynamics & conclusion of 
the auction". The review is due to be completed before June 30, 2001.

Telecom Italia +SEAT+ Telemontecarlo

Telecom Italia  (TI)
TRAINET and JOBLINE.it announced partnership for online job training 
& counseling.
TIM is intentioned to acquire from EON 12% stake in French mobile BOUYGUES
SEAT-PAGINE GIALLE acquired 51% of TELEGATE HOLDING
Other TLC News

WIND NEWS: 
ß First nine months:  +200% increase in revenues (at E 850 mil) and 
clients ( at 6 million)  and losses for E - 550.
ß TOMMASO POMPEI, CEO, values WIND (which recently acquired 
INFOSTRADA) at E 30 billion
ß ALCATEL chosen as technical partner to expand fiber optic network.

TLC AUTHORITY: after license to  TELECOM Italia, also TIM and OMNITEL 
will receive a license.
OMNITEL (VODAPHONE) announced 13.6 million clients and E 2.3 billion 
revenues in first 9 months.


PROFILE OF THE WEEK

Private Equity Partners Spa

A Merchant Bank whose core business is to provide equity capital to 
unlisted companies, both on a majority or minority basis, with the 
final objective to maximise their value for the medium-long term.

Through various co-investment agreements with leading qualified 
institutional investors, for the most part its shareholders, Private 
Equity Partners has privileged access to a large amount of capital 
resources, which allow Private Equity Partners  to approach 
transactions of almost any size.

Thanks to the cooperation with its own shareholders, who can rely on 
an impressive network of close relationships and alliances with the 
major managers and industrial players in Italy and abroad. Private 
Equity Partners  is also particularly active in structuring and 
finalising Management Buy-Out and Development Capital transactions. 
Private Equity Partners not only provides financial resources, but 
offers the management team a qualified and reliable strategic and 
professional support for the realisation of their expansion 
strategies or for the access to stock exchange markets, both in Italy 
and abroad.

Private Equity Partners is registered as a merchant bank under the 
Italian Banking Law, is a member of the Italian Private Equity and 
Venture Capital Association (AIFI) and of the European Venture 
Capital Association (EVCA).

The Shareholders
Fabio L. Sattin and Giovanni Campolo: founding partners and 
respectively Chairman and CEO, and Managing Director of the company.
JP Morgan Capital: the equity investment arm of the financial group 
born from the merger of JP Morgan and Chase Manhattan.
Mittel S.p.A.: one of the oldest companies listed on the Milan Stock 
Exchange. Through its subsidiary Mittel Generale Investimenti Spa, is 
active in merchant Banking and financial services for medium-size 
companies and private individuals.
NIB Capital: important Dutch investment group that offers a vast  
range of financial and advisory services in Investment Banking, 
corporate finance, private equity, fund investment and asset 
management.
Iniziativa Piemonte:  an investment and advisory company established 
by a group of managers and entrepreneurs that offers participated 
companies a qualified support in solving strategic and organisational 
problems.

The Coinvestors
Chase Mittel Capital Fund II B.V. : a private equity fund sponsored 
by Chase Capital Partners, Mittel and Alpinvest, established in 1997 
and with a capital of Lire 140 billion.
The shareholders of Private Equity Partners Spa: in particular JP 
Morgan Capital, Mittel and Alpinvest
The Hillmann Company: a prestigious US private investment company, 
operating world wide.

Since its establishment in January 1998, to November 2000 Private 
Equity Partners together with its coivestors has completed ten 
investments and five divestments:

In 1998 PEP acquired: Omim, Tecnologistica, Mini Gears and Come.
In 1999: Negri Bossi, Art'è, Wire Industries and Datamat. In the same 
year Omim, Come and Tecnologistica were divested.
In 2000: a minority participation in Camuzzi Gazometri S.p.A. and in 
AirSwitch Co. In the same year PEP divested Art'è and Datamat through 
the listing on the Stock Exchange


TECHNOLOGY TRANSFER
  at
http://www.help-finance.com/16patents.htm

INTERNET JOBS & CANDIDATES

JOBS BANK & RECRUITING EXPO at
http://www.help-finance.com/19jobs1expo.htm

EXECUTIVE RECRUITERS
  W3 s mission is to be the No. 1 preferred Executive Search partner 
for Europe's' Venture Capital community. W3 is a niche Executive 
Search firm, established in June 2000 by experienced Search 
professionals. W3 works closely with investment firms, incubators, 
accelerators and venture capitalists to source the best executive 
talent for high growth technology firms themselves and their invested 
companies.  By working in the VC industry everyday, W3 has developed 
a deep understanding of the dynamics of the industry, key players , 
their competitors and employees.

(full profile in  http://www.help-finance.com/15services3_hres_affiliates.htm )


CONFERENCES & SYMPOSIUMS
(15% discount to help-finance.com subscribers)

International Business Forum
-Venture Capital Investing in Israeli Companies -  NY  JAN. 17th - 18th  2001
-Corporate Investing and Strategic Partnering - Palm Springs, CA   
Feb. 26th - 28th  2001
-Early Stage Venture Investing Conference- April 2001- New York, NY
-12th Annual Venture Capital Investing Conference- June 6-8, 2001 - 
Stanford Court Hotel - San Francisco, CA

HiTechNews
StartVenture - Investing in Russian Technology and Internet - 
November 30 - Holiday Inn Moscow

RUSSIA VENTURE CAPITAL ASSOCIATION
Venture Fair - Science Park of Moscow State Univ. - Dec. 7 & 8

VENTURE CAPITAL COMPANIES
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GURUs
Internet,ICT,TLC, Biotech- SEND  CV via Email - write GURU in the Subject
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