Google Inc. plans to invest in Shenzhen Xunlei Network Technology Ltd, developer of systems that let Web surfers download videos, according to Industry Updates. Backers of the company include IDG Venture Capital and Morningside Asia Advisory Ltd. Google earlier this year made a big splash in online video with its $1.65 billion purchase of Youtube.com. Shenzhen Xunlei is based in Shenzhen, in southern China. www.google.com
Avista Capital Partners has inked a definitive agreement to acquire the publisher of the Star Tribune newspaper in Minneapolis/St. Paul from The McClatchy Company (NYSE: MNI) for $530 million. The Star Tribune has a daily circulation of more than 360,000 and a Sunday circulation of about 600,000, making them the 14th largest daily paper and the 10th largest Sunday paper in the United States . The senior management team already in place will continue to run the company. The deal is the splashiest to date for Avista Capital, whose founders spun out of DLJ Merchant Banking Partners to launch their own shop in 2005. Following its acquisition of Knight Ridder earlier this year, McClatchy has been selling off newspapers in markets not growing as fast as it would like. www.startribune.com www.avistacap.com
vJive has secured a $22.6 million commitment from Matrix Partners India to install digital video screens in stores and other locations across India , according to Business Standard. Matrix Partners India has invested $4.5 million of that sum so far. The company is currently installing some 2,000 screens, used to display advertising and promotions, and plans to have up to 100,000 deployed by 2010, according to Rajesh Jog, co-founder and CEO. Avnish Bajaj, managing director at Matrix Partners India, is joining the board of vJive parent Digital Music India . www.vjive.net
Online shopping software developer Venda has secured $20 million from an investor group led by Investor Growth Capital, the venture capital division of Swedish investment firm Investor, according to The Sunday Times. The deal values Venda at $100 million pre-money; ICG’s Noah Walley and Phil Dur are joining Venda ’s board. Customers pay Venda a flat monthly fee to use its off-the-shelf shopping Web sites. www.venda.com
Harmony Information Systems, provider of case management software to human resources executives, has lined up $7.5 million in a first-round of institutional financing from JMI Equity and Updata Partners. The money will be earmarked for product development and marketing. Brad Woloson, a general partner at JMI, and Tim Meyers, a general partner at Updata, are taking seats on Harmony’s board of directors. Founded in 1998, Harmony is based in Reston , Va. www.harmonyis.com
Netage Capital Partners Inc., a Japanese venture capital firm, has spent $1.5 million to acquire a 40 percent stake in an Internet start-up business launched by Swiss telecom company Swisscom, according to the Jiji Press English News Service. The company, coComment, lets customers keep track of the comments they post on different Web sites. www.cocomment.com
