Filed under: Deals, Venture capital industry, Private equity industry, Investments

Altira Group LCC, a player in energy technology venture capital and private equity funding, has announced an investment in Evolutionary Genomics (EG). Evolutionary Genomics sounds a tiny misleading in name because the company is focused on developing improved biofuel feedstocks. The funding will come out of Altira’s $176 million Altria Technology Fund V.

Evolutionary Genomics developed a patented gene discovery technology platform to screen gene adaptations in biofuel feedstocks, which it hopes to improve yields and make biofuel a more viable and sustainable alternative energy solution.

Altira noted its belief that biofuel production is moving toward long-term commercial viability. the company will support and accelerate that direction as these two note that the in-house technology is among the most promising bioscience in this area.

Money is still heading into this direction, particularly as oil has stayed over $100 per barrel. There is just a huge difference between businesses that are subsidized and those that are not. When these are profitable with no subsidy and profitable with energy prices at much levels, that’s when they are interesting. That is also why you’re starting to see private equity firms compete with venture capital firms in the sector.

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Filed under: Apollo Management, Private equity industry, Public or private?

Sometimes brilliant people armed with spreadsheets screw up badly. Sometimes, as in the case of Linens n’ Things, they screw up really badly.

In February of 2006, Apollo Management concurred to take Linens n’ Things private for $1.3 billion. Now, less than two years later, the company is poised to file for bankruptcy, according (subscription required) to the Wall Street Journal. The company employs 17,000 people, with 590 stores in 46 says. The company lost $242 million in 2007.

The Journal reports that “Linens also is working to avoid or delay filing for bankruptcy protection by meeting Monday with its lenders and largest vendors to work out an agreement, but a deal is unlikely.”

Linens n’ Things is a victim of two of the economic woes generating the most media attention: the housing downturn and the credit crunch. In addition, lower-cost suppliers of similar products like Wal-Mart (NYSE: WMT) are taking market-share. People who are having trouble paying their mortgages tend not to obsess over thread count.

On another note, housewares retailer Pier 1 Imports (NASDAQ: PIR) appears to be making strong progress on its turnaround, with its first comparable sales gain in 17 quarters and a return to profitability — its first quarter in the black in 12 quarters.

But its big debt load makes it tough for Linens n’ Things to weather economic storms.

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Filed under: Deals, Apax Partners, Private equity industry

TriZetto Group Inc. (NASDAQ: TZIX) is being acquired by private equity firm Apax Partners. The private equity group will acquire this health-care software company for about $1.4 billion, or $22.00 per share.

What is interesting in this deal is that BlueCross BlueShield of Tennessee and The Regence Group, both of which are customers of TriZetto, are providing some funding in the deal. That portion was not disclosed, even though they will be equity investors in the newly private company. Regence is a combination of several BlueCross BlueShield operations in the U.S.

Apax partners has some $35 Billion “in funds under advice according to the company. Trizetto provides IT solutions that enable payers and other constituents in the healthcare supply chain to improve the coordination of benefits and care for healthcare consumers.

See the full story at 247WallSt.com.

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