The 3rd annual "Summer@Highland" entrepreneurship program, by VC firm Highland Capital Partners, is open for enrollment of prospective entrepreneurs. The program aims at tapping young, talented early-stage entrepreneur groups, similar to start-up incubators like Y Combinator and TechStars.

The second funding round for the San Jose, California-based content-compression software maker Ocarina Networks brought in an investment of $20 million. The round, led by Jafco Ventures, also included current investors - Kleiner Perkins Caufield & Byers and Highland Capital Partners - who, together with others, had raised $11 million in the previous round.