Cedar Fund News
2 articles
growth-negative
Cedar Venture Capital Fund doesn't Want to be Taken for a Ride
Cedar Fund III, LP has filed a lawsuit against Computer Associates (CA) over the acquisition of Nolio, Ltd. Cedar Fund claims that the transaction, in which Nolio was sold to CA for $43 million, deprives them of their ownership rights and violates proper corporate procedures. Cedar Fund alleges that they were the largest shareholder in Nolio and provided the majority of the funds invested in the company. They also claim that the compensation promised to Nolios CEO and founders far exceeds the value of their stock. Cedar Fund is seeking to have the transaction declared invalid and to maintain ownership of their shares in Nolio.
PartnersAcquisition
growth-positive
Cedar Fund raises $100m in six months
Cedar Fund has held its first closing on $100 million of the $125 million it wants to raise for its third fund. The fund specializes in pre-seed and seed funding in IT, telecommunications, semiconductor, and Internet companies. The Cedar I and II funds have had impressive returns, and the new fund has attracted both current and new investors. Cedar Funds investment strategy focuses on picking the right people rather than the right idea. The fund has had successful exits with portfolio companies such as BigBand Networks, Onaro, and Octalica. Its current portfolio includes promising companies like Amimon, Celtro, eGlue Software Technologies, Hiro Media, and WebCollage.
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