Texas Pacific Group, Merrill, Morgan Stanley others invest $60 million in Yazam

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Texas Pacific Group, Merrill Lynch & Co., Morgan Stanley Dean Witter & Co., and seven other companies have made a $60 million investment in Yazam, a New York-based technology venture capital firm. Yazam will use the funding to expand its investment portfolio from 21 to as many as 80 companies by the end of the year. It will also open offices in San Francisco, London and Tokyo. The corporate investors include: Texas Pacific Group, Fort Worth, Texas; Merrill Lynch & Co., New York; Morgan Stanley Dean Witter & Co., New York; J.P. Morgan & Co., New York; Apax Partners, London; China Development Industrial Bank, Taipei, Taiwan; Itochu International, Tokyo; Microdent, Jerusalem; Bank Hapoalim, Jerusalem; and Carlyle Internet Partners Europe, London. High-profile individual investors, including Charles Schwab & Co. CEO and founder Charles Schwab, and former AOL UK CEO Jonathan Bulkley, also contributed to the investment.
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