Philly-based Eureka Growth Capital seeks to raise up to $200mm for new fund

Tom Paine

Dow Jones' LBO Wire reports that Philadelphia-based Eureka Growth Capital is seeking to raise a new fund, Eureka III LP, with a target of $150 million and a hard cap of $200 million.

Eureka Growth Capital is a middle market PE firm headed by managing partner and co-founder Christopher G. Hanssens, a Villanova grad and Wharton MBA who previously was with Accenture and Murray Devine & Co., a transaction and valuation advisory firm. The firm's portfolio is diverse both in terms of industries and geography, although a few of its current investments are based in the Philadelphia area. It has some information technology investments; the most significant Philly area one I can see is Synygy, the Chester-based salesforce comp SaaS vendor from which it exited in 2006.

Eureka raised its last fund of $130 million in 2007.


Google's earnings release fiasco

Tom Paine

Google's stock is still in a strange hiatus today, after RR Donnelley mistakenly sent
a premature filing to the SEC containing Google's disappointing quarterly earnings release. The original report, which never sent out over the wires, can be seen here. The official release is now out, with the once pending quote from Larry Page now included.

Trading was halted after the premature release with the shares down 9%; it is set to resume at 3:20.

In a locally related note, the Horsham-based Motorola Home unit reported a loss of $22 million on revenue of $797 million. This compares to year-ago results of a $54 million profit on revenue of $825 million.

There have been widespread reports that Google has placed Motorola Home on the market.


Daily Links 10/18/2012: Philly Fed report suggests modest improvement

Verizon Profitability Surges as Bills Rise on IPhone

Verizon's FiOS TV Subscriber Growth Slows in Third Quarter (Hollywood Reporter)

Clearwire Drops as Sprint Makes its Move (Wall Street Journal: Deal Journal)

Cable-Tec Expo: DOCSIS 3.1 to Blaze Trail Toward 10 Gig Speeds
CableLabs: Spec Won’t Require Plant Upgrades, Will Be Backward-Compatible With 3.0
(Multichannel News)

October 2012 Business Outlook Survey: Indicators Suggest Modest Improvement (Philly Fed)

Lehigh Valley hosting its first Startup Weekend in Bethlehem (Easton Express-Times)

SAP to give business tools a consumer-app makeover (Computerworld)

QlikTech and Teradata Partner To Deliver QlikView Direct Discovery for Big Data Analytics (Business Wire)

Perelman invests in new Philly newspaper: UPDATE ( Philly Deals)

Philly Newspaper Guild Files Grievance Over Inquirer Reassignments (Philadelphia Magazine: The Philly Post)

Placed launches Panels to help companies gather and analyze location data (PandoDaily)
No surprise: WaWa most popular location in Philly.

New frontiers for Wharton Entrepreneurship: VIP expands to Wharton SF (Wharton Entrepreneurship Blog)