Business Services Industry
Mountain View, Calif.-Based Firm Forms East Coast Venture Capital Fund.
Knight Ridder/Tribune Business News, June, 2001
By Beth Healy, The Boston Globe Knight Ridder/Tribune Business News
Jun. 19--Charles Lax is raising a new East Coast fund for Softbank Venture Capital, Japan's biggest technology investor. The newly formed GrandBanks Capital is close to wrapping up a $200 million early-stage fund, said Lax, cofounder and managing partner of Mountain View, Calif.-based Softbank Venture Capital. Lax runs the group's Newton Center office.
Softbank is a lead investor in GrandBanks, which will invest only in companies "east of the Mississippi," Lax said.
Lax counts among his successful investments Art Technology Group of Cambridge and Geo-
Cities, which was sold to Yahoo. His partner and cofounder in the new fund is David Duval, formerly of Bedrock...
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