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CCTLD Raises $5.2M of $12M Offering - cbl
Posted January 16, 2012
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By Bill Murphy
WAYNE, Pa. - CCTLD LP has raised $5.20 million, or about 43 percent of a $12 million private equity fund, from 11 investors, according to an SEC filing.
Principals named in the filing by the Wayne-based private equity fund are:
· Operating partner Robert Verratti; and
· Managing Director Mark DeNino.
Both are members of the issuer's general partner, TL Ventures.
CCTLD, founded in 1988, has over $1.50 billion under management with investments in over 200 companies to date.
TL Ventures invests in software, information technology infrastructure and services, communications and biotechnology companies. Its current active portfolio consists of 35 companies.
Reg D filing: http://tinyurl.com/7c378cj
Bio from CCTLD site:
Robert N. Verratti
Operating Partner
Bob joined us as a venture partner in 1998. With the formation of TL V, Bob became a Managing Director, running TL's Los Angeles, CA office. Bob has worked with Bob Keith and Mark DeNino for more than 20 years and has been involved as an executive or director of four of TL's portfolio companies. Most recently, Bob served as the CEO of Traffic.com, Inc. (NASDAQ: TRFC) (TL3/TL4) since 2003 and was instrumental in developing Traffic, taking it public in 2006 and negotiating its sale to NAVTEQ Corporation (NYSE: NVT) in 2007.
Before joining TL, he was chief executive officer of e4L, Inc. (NYSE: E4L) (TL2 - 3x return), the world's largest infomercial company. During his career, Mr. Verratti also served as the President and CEO of Total Care Systems, a group care living facilities provider; Great Western, a land development subsidiary of Hunt International Resources; and Globe Ticket, a specialty printing company, in addition to working in various H. Ross Perot enterprises, including Electronic Data Systems Corporation.
Bob's primary responsibilities at TL include evaluating proposed investments and providing much needed operational assistance to over-stretched portfolio company management teams in executing strategic plans. Bob holds a BS degree in engineering from the US Naval Academy and served for five years as a commissioned officer in the nuclear submarine service.
Mark J. DeNino
Managing Director
Mark joined TL in 1994. Mark's venture capital experience began in 1981, when he helped launch a biomass venture backed by General Electric's venture capital group (now Canaan Partners) using technology developed at the University of Pennsylvania. At the time Mark started working with Bob Keith, then a senior executive at Fidelity Bank (now Wells Fargo). He followed that start-up by joining Ecogen, a Princeton-based microbial pesticide venture funded by Domain and Vista Ventures that later went public.
In 1986, Mark joined Fidelity Bank to start-up and lead a corporate finance activity. While at Fidelity, Mark and Bob invested bank capital as a limited partner in numerous private equity funds. Together, they also helped create an S.B.I.C., Fidelcor Capital, to invest in early-stage technology companies.
Mark's investment interests are varied and run the gamut from software to business services to communications and energy. He has served on 46 public and private company boards. Mark has also been responsible for TL's participation in the Kauffman Fellows program and, with Anthony Chang, developing an effective network in Asia to assist TL portfolio companies source and sell products there.
Recognizing long ago that the energy and utility industries were ripe for early-stage investing capable of generating venture-type returns, Mark established an affiliated private equity activity targeting those markets specifically. This effort culminated with the formation of EnerTech Capital in 1996, one of the very first energy focused funds. Likewise, Mark led a group of TL colleagues as founding investors in Peak6, a highly successful options trading firm in Chicago.
More recently, Mark led the launch of a mezzanine lending activity known as Penn Mezzanine Partners. Penn Mezz targets credit-worthy borrowers with revenue under $100 million in the Pennsylvania and mid-Atlantic region.
Mark is the co-author of a 1983 Harvard Business Review article, "When Corporate Venture Capital Doesn't Work." He graduated with a BS degree from Boston College and an MBA degree from the Harvard Graduate School of Business Administration.
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