NEWSBITS March 30, 2009

By Milt Capps
Published Monday, March 30, 2009 9:44 am

NEWSBITS March 30, 2009 | DeMoss Capital, Tennessee Technology Development Corporation, TTDC, Council Ventures, Petra Capital Partners, Pharos Capital Group, Lucius Burch, Massey Burch, venture capital, IPO, exits, Katie Gambill, Kelli O'Brien, Charlie Brock, Brock Candy, Michael Devlin, Mary Dubois, Sovereign Wealth Management, 3GS, Northshore Capital Management, Northshore Capital Advisors, Fifth Third, Advent International, EPB, broadband, Austin Peay State University, Hemlock Semiconductor, technology, Venture Notes,

Kelli O'Brien left Apple for Noog's DeMoss

In today's Tennessean, Nashville VCs comment on near-gridlock resulting from closed IPO window, lower valuations for entrepreneurs and need for exits through sales to strategic investors. Quoted execs include Council Ventures' Gambill, Petra's Blackburn, Pharos' Devlin and former Massey Burch exec Lucius Burch.

KNS report today: Knoxville's Northshore Capital Management is funding 3GS LLC's steady acquisition of document-shredding companies.

Tennessee Technology Development Corporation (TTDC) plans innovation competition, to culminate in 2010 event. TTDC's competitiveness agenda (pdf).

MOVES: Entrepreneur Charlie Brock, a former Brock Candy exec and founder of FoxMark Media in Chattanooga, joined Four Bridges Capital Advisors, Chattanoogan.com. Former Merrill Lynch exec Kelli O'Brien joined DeMoss Capital in Chatta., Release here. Mary Duboise of Sovereign Wealth Management in Memphis was promoted to chief compliance officer.

Private-equity investor Advent International has bought controlling interest Fifth Third's payment processing unit. The sale had been rumored nearly a year.

Austin Peay State University is preparing to educate workers for Hemlock, according to the City Paper.

EPB utility in Chattanooga reportedly ahead of curve in creating "smart" electric grid. TFP story here. ♦