IPNet Solutions Gets $40-Million Investment

IPNet Solutions Inc., a Newport Beach developer of electronic business products, said Tuesday that it has received $40 million from a round of financing.

The company said in a press release that the investment will support its efforts to develop, market and support its products for both private trading communities and exchanges.

The round was led by Thomas Weisel Capital Partners LP and joined by Sigma Partners, Mellon Ventures (netWorth Partners), InnoCal and Forrest Binkley & Brown. Additionally, Alan Menkes of Weisel joined IPNet’s board of directors.