Venture Capital Sale Is Completed by Triconex Corp.

Triconex Corp., an Irvine developer of computer-based control systems used in the process industries, said it has completed a venture capital fund-raising effort by selling $4 million worth of stock to a number of outside investors.

The 3-year-old company said a total of 4 million shares, or 20% of the company’s stock, was sold to raise funds, with half of the stock purchased by the venture capital section of Security Pacific Corp. in Los Angeles. The remaining shares were bought in varied amounts by Rainier Venture Partners of Bellevue, Wash.; Liberty National Life Insurance Co. of Birmingham, Ala.; Julian, Cole & Stein of Los Angeles; Technology Funding Partners of San Mateo; Riordan Venture Capital Associates of Los Angeles, and Pacific Venture Partners of Menlo Park.