[FoRK] CommerceNet ties up with Trident Capital

Rohit Khare khare
Fri Oct 14 11:52:24 PDT 2005


Trident Capital to Invest in CommerceNet?s Early-Stage Portfolio 
Companies from  its $400 million Trident Capital Fund VI

  CommerceNet's R&D Ties Gives Trident Capital Access to Next-Generation 
   Technology Research and Early-Stage Ventures

PALO ALTO, Calif. ? October 12, 2005 ? Trident Capital, a national 
venture capital  firm focusing on information technology, today 
announced a joint venture with  CommerceNet to invest in select 
CommerceNet portfolio companies. CommerceNet is a  non-profit 
organization dedicated to fulfilling the promise of the Internet 
through  entrepreneurial research, open source initiatives and venture 
start-ups.

?CommerceNet has a ten-year track-record in identifying and 
facilitating e-commerce  innovation through its close collaboration 
with early stage Silicon Valley startups and top  researchers at 
Stanford, MIT, Johns Hopkins and Carnegie Mellon," said Don Dixon, 
cofounder and managing director at Trident.  By working with the 
CommerceNet team and  investing in CommerceNet portfolio companies, we 
will be able to see new opportunities  on the horizon and fund critical 
research for the future of technology.  CommerceNet  invests in very 
early stage companies with talented people and bold ideas. We are 
pleased  to be able to help develop ventures that are poised to be 
leaders in e-business."    "For example, we recently invested $3 
million in startup Webify Solutions, Inc. Inspired  by CommerceNet?s 
seminal research on Web services in B2B commerce, Webify?s  technology 
is enabling transformational business models in healthcare and 
financial  services," continued Dixon.

CommerceNet was founded by renowned Internet commerce pioneer Dr. Jay 
M.  Tenenbaum to foster worldwide collaboration and advance the rapid 
and real-time  exchange of business information over the Internet.  The 
company has a ten-year history  of defining and facilitating advances 
in Internet commerce. Its successes include  milestones such as the 
first commercial transaction on the Internet, the first Web  shopping 
site, the first Internet auction, the first live Internet video 
training, and the first  XML-based B2B transaction.  Today, CommerceNet 
continues to push the envelope,  developing key Web 2.0 and AI  
technologies that are making the Web more  participatory (i.e., 2-way 
versus read only), more semantic, and more real time (i.e., event  
driven).

  CommerceNet?s Tenenbaum commented, ?Our portfolio companies use 
technology to  blow up existing value chains and reassemble the pieces 
into radically new crosscompany processes and business models. They 
need a venture partner that can provide far  more than financial 
backing. Trident?s managing directors have individual expertise in  key 
high-technology domains and major vertical industries. They are 
comfortable  actively driving the development of new business 
ecosystems.?

About Trident Capital   Trident Capital is a leading venture capital 
and private equity firm with over $1.5 billion  of capital under 
management, including $400 million raised in its recently-closed Fund  
VI. Trident focuses on investments in the information services and 
software sectors  across a variety of industries. Within its sector 
focus, Trident invests across multiple  stages, including traditional 
venture capital investing as well as investments in micro-cap  public 
companies, buyouts and consolidation platforms. The Firm has made over 
100  investments since its inception. Trident has investment offices in 
Palo Alto, Calif. and  Westport, Conn. For more information, visit the 
firm?s website at www.tridentcap.com.

About CommerceNet  CommerceNet is a unique entrepreneurial R&D 
organization combining the best  elements of a research lab, startup 
incubator and public interest initiative.  Our mission is  to make the 
world a better place by fulfilling the promise of the Internet and 
ecommerce.  We invest in outstanding people with bold ideas, enabling 
them to pursue their visions  and share in their commercial success. 
For more information, visit the CommerceNet  website at 
www.commerce.net. 
  



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