6:00 PM -- Guess what company was the third largest communications investment made by venture capitalists in 2004.

Mahi Networks Inc.

Seriously.

Now that 2005 is nearly over, I just got my shiny new copy of the National Venture Capital Association 2005 yearbook, and that was one of the stats from yesteryear that made my head swim.

With about $70 million raised in one big round back in 2004, Mahi was a big fish in the venture world for about 10 minutes. Since that time, the company has floundered.

So what'll happen to Mahi now that Tellabs Inc. (Nasdaq: TLAB; Frankfurt: BTLA) has apparently bagged a big chunk of Verizon Communications Inc.'s WDM business?

— Phil Harvey, News Editor, Light Reading