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Venture-capital firms raised some $9.1 billion from institutional investors in the second quarter of 2008, even as public markets for startup companies dried up, the National Venture Capital Association (NVCA) said Monday.

The amount raised is 3 percent higher than in the same quarter last year. The level of investment "demonstrates the long-term perspective of our institutional investors," said Mark Heesen, president of the NVCA, in a statement.

Bay Area-based Lightspeed Venture Partners raised the largest fund, worth $800 million. In the Seattle area, Madrona Venture Group raised $250 million.

Insurance

Safeco deal to close in third quarter

Safeco, which agreed in April to be acquired by Liberty Mutual Group, said the deal is "on track for a third-quarter close."

"There are no impediments that would lead us to believe otherwise," said Paul Hollie, a spokesman for the Seattle-based insurer.

Safeco stock, which had traded above $65 a share since the deal was announced on April 23, fell $4.62, or 7 percent, Monday to close at $61.60. Liberty Mutual has said that it would pay $68.25 for each Safeco share.

Software

Microsoft to buy Zoomix Data

Microsoft agreed to buy Zoomix Data Mastering to add data-organizing tools to its SQL Server database programs. The closely held company, based in Jerusalem, will be integrated into Microsoft's research-and-development center in Israel, Zoomix said Monday. Terms of the agreement weren't disclosed.

Aerospace

Boeing workers' payout tallied

Boeing employees who worked the four-year qualifying period ended June 30 will receive a pretax payout worth $1,636.90 from the Share Value Trust, the company said Monday.

Those who worked for part of that period will get a prorated amount.

The Share Value Trust pays nonexecutive employees once every two years, assuming the stock price is above a predetermined threshold — in this case, $54. The payout was substantially reduced because Boeing shares lost more than a fifth of their value during June, falling from nearly $82.77 to $65.72 at the end of the qualifying period.

Retail

Starbucks adding fruit smoothies

It may be tough to sell a $4 cup of coffee in a sour economy, but Starbucks and other fast-food kingpins are betting big this summer that folks will willingly fork out nearly that much for healthful-sounding fruit smoothies.

Starbucks today will roll out Vivanno, a $3.75 fruit smoothie made with one whole banana, juice, ice and protein and fiber powder. It has no artificial colors or flavors, no added sweeteners and is 250 to 270 calories, depending on the flavor you pick.

Smoothies are not new to consumers. What's new is fast food's sudden interest in them. McDonald's is testing them in several markets. Taco Bell and Jack in the Box began rolling out smoothies in recent months. And Dunkin' Donuts has a new, lower-calorie smoothie.

Starbucks today also will roll out another summerlike beverage in 315 Los Angeles-area stores: Sorbetto. A 10-ounce cup is $2.75.

Nation / World

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