H&Q, Chase back Barksdale Group
An investment group run by former Netscape CEO Jim Barksdale says it received an investment from Hambrecht & Quist and Chase Capital Partners and snagged analyst Danny Rimer.
The two companies will invest in the Barksdale Group's venture capital fund and jointly work on Internet deals. Chase Manhattan said in September that it plans to acquire Hambrecht & Quist; that deal is expected to close by the end of the year.
Meanwhile, Danny Rimer, an Internet analyst with Hambrecht & Quist, will be joining the Barksdale Group as a general partner. He also will serve as an advisory director to Hambrecht & Quist.
"Danny already has an outstanding investment track record and has been a close friend and virtual partner of ours since working with us during the early Netscape days," Jim Barksdale said in a statement. "Our business model is predicated on being able to offer our portfolio companies operational, recruiting, planning, and strategic guidance, and Danny's expertise will help us service their growing needs."
The Barksdale Group, founded last May, has a portfolio that includes HomeGrocer.com, Escalate, Listen.com, MyCFO, Respond.com, and Tellme Networks.
Rimer will be joining other Barksdale Group partners Peter Currie, former Netscape chief administrative officer, and Quincy Smith, former Netscape investor relations and new business development manager.
"I am thrilled about my new role as a partner of the Barksdale Group, and as an advisory director of Hambrecht & Quist. I will maintain offices in both locations to ensure a smooth transition of all my current Hambrecht & Quist coverage and other responsibilities," Rimer said in a statement.