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Twitter and Why 'You Kids Get Off My Lawn' Is Bad for Private EquityPrivate equity may be enjoying a tentative renaissance, but even its most passionate adherents have to admit that the industry has been struggling with an image problem. That's because private equity takes the "private" part all too seriously. While venture capitalists frolic in public and successfully argue that their work is a worldy good, private equity recedes into a faceless, nameless realm of shadowy, out-of-touch, rich old fogies. The industry might as well outfit its practitioners with watch fobs, three-piece suits and cigars. peHUB would like to suggest some image rehab. Let's start with Twitter...
- Fidelity National: Forget Megadeals. Are Club Deals Back?
The much-rumored, much-hyped buyout of Fidelity National Information Services has ballooned in size: In just one week, the value of the rumored LBO zoomed from $10 billion to a whopping $15 billion http://www.reuters.com/article/idUSTRE64B0FM20100512?dbk The private equity industry is looking for any reason to party, of course. It's no wonder that Fidelity National /wp-admin/%3Cbr%20%3E%3C/a%3Ehttp://online.wsj.com/article/SB10001424052748704370704575228242570394452.html has become a giddy flashpoint for potential renaissance of big-time private equity dealmaking. 2007 redux http://www.youtube.com/watch?v=uB1D9wWxd2w What's not to be excited about? Not so fast. Fidelity National is not in the same mold as those big 2007 buyouts at all. Unlike those deals, in which a single firm typically splashed out billions of dollars, it's going to take three big private equity firms to pay for Fidelity National: Blackstone Group, THL Partners and TPG Capital. So take heed: The club deal, not the megadeal, is more likely to determine the future of private equity.
- AdReady Secures $5.3 Million Insider Round
AdReady, a Seattle-based provider of software solutions for digital display advertising, has raised $5.3 million in Series B funding. Return backers include Madrona Venture Group, Bain Capital Ventures and Khosla Ventures. The company previously raised $10 million.
- Chrysalis Ventures Staffs Up
Chrysalis Ventures has added five new staffers: Alan Ying as a ventire partner, Jill Force as chief operating officer, Derek Fricke as an analyst, Doug Cobb as an entrepreneur-in-residence and Greg Foster as an entrepreneur-in-residence. The first four will be based in the firm's Louisville office, while Foster will work out of Atlanta.
- Silver Lake, Warburg Pincus to buy IDC for $3.4B
The sale of IDC is the largest LBO so far this year
- Todd MacLean Joins Accel Partners
Todd MacLean has joined Accel Partners, with a focus on growth equity investments in the IT space. He previously was a director with Bain Capital Ventures and, before that, was a vice president with Summit Partners.