Private Equity Holdings:
Private Equity Holdings. In addition to the public equity holdings of
Comdisco Ventures, as of March 31, 2000, it held warrants and other equity
positions in approximately 405 companies that are still private. The following
table sets forth those companies, grouped by business sector, to which Comdisco
Ventures has committed $3 million or more in financing (whether as a venture
lease, venture debt or direct equity purchase) as of March 31, 2000.
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Private Company Equity Holdings of Comdisco Ventures
as of March 31, 2000
Commitments Greater than $3 million
Communications & Networking
2Wire, Inc. MainStreet Networks, Inc.
AccessLan Communications, Inc. Mapletree Networks, Inc.
Agility Communications, Inc. Metawave Communications Corp.
Airspan Communications Corporation New Edge Networks, Inc.
Applicast, Inc. Octave Communications, Inc.
Atmosphere Networks, Inc. Optical Micro-Machines, Inc.
Avici Systems, Inc. Optical Networks, Inc.
Bandwidth9 Optical Solutions, Inc.
BrightLink Networks, Inc. Optimight Communications, Inc.
Caly Networks, Inc. Oresis Communications, Inc.
Chorum Technologies, Inc. Pluris, Inc.
Cinta Corporation Positive Communications, Inc.
COLO.COM ProactiveNet, Inc.
Corvis Corporation QuantumShift
eConvergent, Inc. Quintessent Communications, Inc.
Endgate Corporation Santera Systems, Inc.
Equinix, Inc. Shoreline Teleworks, Inc.
eVoice, Inc. dba TalkStar.com Telera, Inc.
Exterprise, Inc. Tellium, Inc.
Flashcom, Inc. Vertical Networks Incorporated
Geyser Networks, Inc. Video Networks, Inc.
Gotham Networks, Inc. Warpspeed Communications, Inc.
iBEAM Broadcasting Corporation Wavtrace, Inc.
Indus River Networks, Inc. Yipes Communications, Inc.
iPass, Inc. Zaffire, Inc.
Jetstream Communications, Inc.
LGC Wireless, Inc.
Computer Hardware & Semiconductors
Monterey Design Systems
Agere, Inc. Silicon Access Technology, Inc.
Aptix Corporation Silicon Spice, Inc.
Censtor Corporation Siros Technologies
Chip2Chip, Inc. Stream Machine, Inc.
Cielo Communications, Inc. Transmeta Corporation
C-Port Corporation Volterra Semiconductor Corporation
Gemfire, Inc. ZettaCom, Inc.
Handspring, Inc.
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Internet
Affinia, Inc. Impresse Corporation
Agillion.com, Inc. Indulge.com, Inc.
Andale, Inc. Interactive Transaction Services, Inc.
Asera, Inc. iOwn Holdings, Inc.
Autodaq Corporation IQ commerce Corporation
BenefitPoint, Inc. Lipstream Networks, Inc.
Bigstep.com living.com Inc.
Blue Nile, Inc. Lucy.com, Inc.
Bowstreet.com, Inc. Miadora, Inc.
BravoGifts.com, Inc. Mobshop.com, Inc. (formerly
Brigade Solutions, Inc. Accompany, Inc.)
Brightware, Inc MoneyLine Network, Inc.
Broadband Sports, Inc. Myplay, Inc.
Carstation.com, Inc. Myteam.com, Inc.
Celarix, Inc. Naisa Systems, Inc.
Chip Shot Golf Corporation Naxon Corporation
Christianity.com, Inc. NetFlix.com, Inc.
Collabria, Inc. NONSTOP Solutions, Inc.
Dental X Change, Inc. NowDocs.com, Inc.
Desktop.com, Inc. Obongo, Inc.
DoughNET Inc. Onebox.com, Inc.
Dunk.Net OurHouse.com, Inc.
eBates Shopping.com, Inc. perksatwork.com, Inc.
eCoverage, Inc. Pogo.com Inc.
eGroups, Inc. Primary Knowledge, Inc.
ePhysician, Inc. PurchasingCenter.com, Inc.
Embark.com, Inc. Qpass, Inc.
essential.com, Inc. Quickdot Corporation
e-STEEL Corporation remarQ Communities, Inc.
EthinicGrocer.com, Inc. Resonate, Inc.
eve.com, Inc. RightWorks Corporation
Firedrop, Inc. RocketTalk, Inc.
Firstlook.com, Inc. ServiceLane.com, Inc.
Flyswat, Inc. ShoppingList.com, Inc.
Food.com, Inc. Shutterfly.com, Inc.
Furniture.com, Inc. SocialNet.com
Gator.com Corporation StockPower, Inc.
Gloss.com, Inc. Topica, Inc.
Great Entertaining, Inc. WebSwap, Inc.
HomeWarehouse.com, Inc. Xtra On-line Corporation
IAM.com, Inc.
iExchange.com, Inc.
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Life Sciences
Accumetrics, Inc. FeRx Incorporated
Acusphere, Inc. Idun Pharmaceuticals, Inc.
Adesso Specialty Services Inspire Pharmaceuticals, Inc.
Advanced Medicine, Inc. InterVentional Technologies, Inc.
Align Technology, Inc. Kelson Physician Partners, Inc.
American WholeHealth, Inc. PercuSurge, Inc.
Argonaut Technologies, Inc. Radiant Research, Inc.
asterion.com, Inc. ScriptGen Pharmaceuticals, Inc.
Cryogen, Inc. TheraSense, Inc.
Cytokinetics, Incorporated XenoPort, Inc.
Eos Biotechnology, Inc.
Software & Computer Services
2Bridge Software Linuxcare, Inc.
Acta, Inc. Luminate Software Corporation
Allegrix, Inc. MarketTools, Inc.
Angara E-Commerce Software, Inc. Market-Touch Corporation
Annuncio Software, Inc. NewChannel, Inc.
Arbortext, Inc. NightFire Software, Inc.
Corio, Inc. Portera Systems
CrossWorlds Software Saba Software, Inc.
DataCore Software Corporation Support.com, Inc. (formerly Tioga
Docent, Inc. Systems, Inc.)
eALITY, Inc. TANTAU Software, Inc.
eDocs, Inc. Torrent Systems, Inc.
Efficient Market Services Trellix Corporation
Flashpoint Technology, Inc. TriStrata, Inc.
Instill Corporation ValiCert, Inc.
Integral Development Corporation Worldstreet Corporation
Linguateq, Incorporated Yantra Corporation
Other Products & Services
Advantage Schools, Inc. AnyTime Access, Inc.
Hybrid Fund
Comdisco formed Hybrid Venture Partners, L.P., a Delaware limited
partnership, in October 1999 to fund venture debt and direct equity financing
products for the benefit of Comdisco Ventures. Comdisco committed $250 million
as a limited partner to Hybrid Fund, all of which has been invested in, or
committed to, customers. The Hybrid Fund is now closed and will not seek
additional capital commitments beyond that $250 million. Hybrid Fund began
funding direct equity financings in the second quarter of fiscal 2000 and
expects to begin funding venture debt during the third or fourth quarter of
fiscal 2000. Comdisco Ventures intends to sell those venture debt transactions
it originated during the second and third quarters of fiscal 2000 to Hybrid
Fund once Hybrid Fund begins funding these types of transactions.
Comdisco Ventures intends to continue to fund venture leases and
equipment loans directly.
As the sole limited partner, Comdisco has committed 99% of the capital
of Hybrid and receives 99% of that part of the profits and losses allocated
based on capital commitments. Comdisco has allocated its interests in Hybrid
Fund to Comdisco Ventures as part of the implementation of the tracking
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stock structure. Items of profit and loss of Hybrid Fund attributable to the
short-term investment of idle cash will be allocated among the partners of
Hybrid Fund in proportion to their respective capital commitments. All other
items of net profit of Hybrid Fund will be allocated among Comdisco, the sole
limited partner and the general partner, as follows:
. First, 100 percent to all the partners in proportion to their
respective capital commitments until each partner has been
allocated net profits representing an 8 percent priority return on
its unreturned capital contributions.
. Next, 100 percent to the general partner until cumulative
allocations of net profit over the term of Hybrid Fund have been
made:
(1) 80 percent to all the partners in proportion to their
respective capital commitments; and
(2)20 percent to the general partner as a carried interest.
. Next, 80 percent to all the partners in proportion to their
respective capital commitments and 20 percent to the general
partner as a carried interest.
Net losses of Hybrid Fund will be allocated first to reverse prior
allocations of net profits and thereafter to the partners in proportion to
their respective capital commitments.
Distributions by Hybrid Fund to its partners may be made in cash or in
securities.
The general partner of Hybrid Fund is Rosemont Venture Management I,
L.L.C., a Delaware limited liability company. The managing members of the
general partner primarily responsible for Hybrid Fund's investment activities
initially will include James P. Labe and Geoffrey L. Tickner, members of
management of Comdisco Ventures. Comdisco also holds a non-managing membership
interest in this general partner, an interest it has allocated to Comdisco
Ventures as part of the implementation of the tracking stock structure, and is
entitled to participate in the general partner's profits and losses. Prior to
the offering of Comdisco Ventures Stock, Comdisco generally receives 30% of the
profit and losses of the general partner. After the offering of Comdisco
Ventures Stock, Comdisco generally will receive 49% of the profits and losses
of the general partner. In addition to its share of the profits and losses of
Hybrid Fund, the general partner will receive an annual management fee equal to
2% of the aggregate committed capital of Hybrid Fund. Beginning in 2005, this
fee will be equal to 2% of the aggregate cost basis of securities held by
Hybrid Fund and reasonable reserves for the payment of fund expenses and the
purchase of portfolio securities under pre-existing binding commitments. |
