Enron Mail

To:jay.fitzgerald@enron.com, stephen.horn@enron.com, louise.kitchen@enron.com,michael.miller@enron.com, john.norden@enron.com, drew.ries@enron.com, jeffrey.snyder@enron.com, allan.sommer@enron.com, greg.whalley@enron.com, andy.zipper@enron.com
Subject:Venture News, Tuesday, December 12, 2000
Date:Tue, 12 Dec 2000 01:56:00 -0800 (PST)

USA: Dynegy trades $1.5 bln via online energy portal.

HOUSTON, Dec 11 (Reuters) - Wholesale natural gas and electricity marketer
Dynegy Inc. said on Monday its Dynegydirect Internet trading system had
chalked up $1.5 billion in notional transaction values since its launch on
Nov. 1.
Dynegydirect (www.dynegydirect.com) currently carries Dynegy's bid and offer
prices for over 300 energy and energy-related products, including North
American electricity, natural gas and natural gas liquids.
Coal, emission allowances and weather derivatives will be offered in the
first quarter of 2001, with international energy products and
telecommunications bandwidth following in the second quarter, Houston-based
Dynegy said in a statement.
Dynegydirect currently has over 400 registered users and Dynegy said that
over $1 billion of the deals done to date over the system were generated by
new customers for the company.
In addition to its own portal, Dynegy has been trading on the Tradespark
(www.trade-spark.com) multilateral online energy trading platform launched in
Tradespark is backed by a partnership of several energy companies, including
Williams Cos., TXU Corp. and privately owned Koch Industries. Dynegy has said
it will join the partnership at a later date.
Dynegy's home-town rival Enron Corp. is regarded as the frontrunner in online
trading of wholesale energy products, with deals worth $183 billion
transacted over its EnronOnline (www.enrononline.com) system between November
1999 and October 2000.
Enron executives have said they also plan to use other online trading
platforms to do business and will not focus exclusively on the company's own
o Trading Tech Firm Javelin Acquires Gateway Financial

NEW YORK -- Javelin Technologies, an electronic
trading technology provider, said it acquired the
remaining shares of Gateway Financial Technologies
(GFT), a developer of electronic trading infrastructure,
for an undisclosed amount. Prior to the acquisition,
GFT was jointly owned by Javelin and AW Bertsch,
a New York Stock Exchange (NYSE) member firm. GFT
president and CEO John Petschauer will become senior
vice president and general manager of Javelin's
service bureau division. Javelin's investors include
Opticality Ventures I, Advent Software, Robertson
Stephens, Tradescape.Com Holdings, Thomson Financial,
Collaborative Capital, Nextera Investments, Schoffstall
Ventures, BHH Technology Ventures, Investec Ernst,
and individual investor Jack White, founder of Jack
White Discount Brokerage.

o FreightPro.com Secures $17 Million in Second Round

OVERLAND PARK, Kan. -- FreightPro.com, an Internet-based
transportation and logistic provider, said it has
raised $7 million in its second round of funding
from new investors White Pines Ventures, Gazelle
TechVentures, and Kansas Venture Capital. The company
said it will use the funds to support information
technology development, marketing, and brand-recognition
efforts, as well as for general working capital.

o Scient Founder Steps Down As 12 Entrepreneuring Co-Chief

SAN FRANCISCO -- Internet accelerator 12 Entrepreneuring
said company co-president, CEO, and chairman Eric
Greenberg has left those positions and will now
take another role with the company, as yet to be
determined. Halsey Minor, who shared the positions
with Mr. Greenberg, has become the sole president,
CEO, and chairman. Mr. Minor, founder of Web publisher
CNET, and Eric Greenberg, founder of Scient, founded
12 Entrepreneuring earlier this year.

o Consulting Firm eVe Global Gets Funds in Deal with IncuLab

NEW YORK -- eVe Global Group, a consulting firm
specializing in early stage company development,
said it closed its seed round of financing with
an undisclosed amount from incubator IncuLab. The
companies also formed a partnership. eVe Global
Group provides business planning services to early
stage companies and investors, including venture
capitalists, incubators, and individual investors.
As part of the partnership, eVe will provide services
to several of IncuLab's portfolio companies.

o Design Platform Firm Enamics Gets $2.3 Million in Round One

STAMFORD, Conn. -- Enamics, which will provide an
enterprise design platform for creating business
models, said it closed its first round with $2.3
million from individual investors. The investors
were Tom Trainer, vice president and CIO at Citigroup
and vice chairman of Enamics; Honorio Padron, president,
business services, at Exelon; Jack Mollen, senior
vice president at EMC; Paul Daversa, president and
CEO of Resource Systems Group; and Edward Bennett,
partner at Evans, Carter, Kunes, Bennett. The company
will use the funds for its launch, expected in first
quarter of 2001. The company has raised $4 million
to date and is also backed by META Group.

o Transaction Services Firm i-Escrow Gets $20 Million

REDWOOD SHORES, Calif. -- i-Escrow, a provider of
transaction settlement services for online marketplaces,
said it received $20 million in its second round
of funding led by Bertelsmann AG. Previous investors
SB Investment, a venture capital subsidiary of Sumitomo
Bank Group; Trans Cosmos, Infinity Capital, U.S.
Venture Partners, AIG Financial Products, and Red
Rock Ventures participated in the round, as did
new investors Silicon Valley Bank, PacRim Venture
Partners and JAFCO Ventures. i-Escrow said it will
use the capital to support its international operations
and to fund ongoing initiatives. Matthias Mierisch,
managing director of Bertelsmann Financial Services,
has joined i-Escrow's board of directors.

o ASP for Financial Firms Adhesion Has $15 Million in Series C

CHARLOTTE, N.C. -- Adhesion Technologies, an application
service provider that develops and maintains private-label
Web portals for financial institutions, said it
raised $15 million in its Series C round of funding.
Zilkha Capital Partners led the round, which also
included Century Capital Management. Zilkha partners
John Rigas and Daniel Standen, and Davis Fulkerson,
managing director at Century Capital, joined the
board of directors. The company will use the funds
for product development, sales and marketing, and
to expand its staff. The company said it plans to
open offices in New York, San Francisco, and London.

o E-Commerce Apps Firm Moai Cancels IPO

SAN FRANCISCO -- Moai Technologies, a provider of
negotiated electronic commerce applications for
online auctions, online procurement and electronic
marketplaces, has decided not to proceed with its
initial public offering, according to documents
filed with the SEC. Moai, which is backed by Andersen
Consulting, BroadVision, Hewlett-Packard, Intel,
Merrill Lynch, Reuters and UPS, cited current market
conditions as the reason for its decision.

o Internet Services Firm Headstrong Buys Faber Consulting

FAIRFAX, Va. -- Headstrong, a provider of Internet
services, said it acquired Chicago-based Faber Consulting,
a management consulting firm. Terms of the acquisition
were not disclosed. Previously, Headstrong received
a $191 million private placement from Welsh, Carson,
Anderson & Stowe (WCAS) and H&Q Asia Pacific. Faber
Consulting has offices in Chicago, LA and Dallas.
The average size of the firm's projects is around
$700 million.