The venture capital ecosystem has reacted swiftly and decisively to the pending recession — an alacrity that bodes well for the long-term health of today’s startup companies. As Benchmark highlighted at the end of a recent memo to its portfolio companies, this is when the best companies get built.

InterAct991 Corp., a Winston-Salem, N.C.-based provider of public safety and homeland security solutions for private sector businesses, has raised $28 million in new VC funding. Foundation Capital and Bay Partners co-led the round, and were joined by return backer SilkRoad Equity.

Multi-Fineline Electronix Inc. (Nasdaq: MFLX) has agreed to acquire Pelikon Ltd., a UK-based developer of printed segmented electroluminescent displays and keypads. The deal is valued at $10.7 million, payable by two-year promissory notes. Milestone-based earn-outs are also included. Pelikon has raised over $23 million in VC funding since 2000, from firms like Advent Venture Partners, Finance Wales, Gartmore Investment Ltd. and Spark Ventures.

SAN BRUNO, Calif.----Apptera, the voice in mobile advertising, today announced that it closed a new $10.5 million round of financing. The investment was led by existing investors Lightspeed Venture Partners, Alloy Ventures, and Walden International.

Archemix Corp., a Cambridge, Mass.-based developer of aptamer-based therapeutics, has agreed to go public via a reverse merger with NitroMed Inc. (Nasdaq: NTMD). Archemix shareholders will own 70% of the combined company, while NitroMed shareholders will hold the remainder.