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Gains in venture performance lift University of California portfolio: VCJA maturing slice of the University of California’s venture portfolio is benefiting from the venture industry’s performance gains of the past year, according to affiliate magazine Venture Capital Journal. The majority of the 20 funds the university holds with vintages of 2003 to 2006 advanced smartly in 2013 and 17 now have positive IRRs.
Thomvest Ventures joins $50 mln Series D financing of KabbageKabbage Inc, an Atlanta-based online lender to small businesses, has raised a US$50 million Series D financing round. The deal was led by U.S. venture capital firm SoftBank Capital and was joined by a number of other new and existing investors, including Thomvest Ventures, the US$250 million early-stage fund of Canada's Peter Thomson. Founded in 2008, Kabbage now has raised about US$106 million in equity since 2010. The company also has raised some US$367 million in debt funding.
Fund performance: Gains in venture performance lift University of California portfolioFunds from the Column Group, GGV and Canaan advance smartly
Kabbage raises fresh $50 mln in SoftBank-led roundKabbage, an online lender for small businesses, has raised a $50 million Series D round led by SoftBank Capital. Also participating in the round is TCW/Craton, Lumia Capital and existing investors, including UPS Strategic Enterprise Fund, Thomvest Ventures, BlueRun Ventures, Mohr Davidow Ventures and individuals David Bonderman and Warren Stephens. As part of the latest round, Steve Murray, a partner at SoftBank, has joined the board. Atlanta-based Kabbage has now raised about $106 million in equity since 2010.
- Venture capital confidence index climbs again
The Silicon Valley Venture Capital Confidence Index rose in the first quarter for seventh consecutive quarter. This marks the longest upward trend in the history of the index, according to Mark Cannice at the University of San Francisco, who assembles it. The index now stands at 4.03 on a 5 point scale with 5 indicating high confidence. VCs interviewed for the index cited the IPO market and the rapid technological disruption being driven by startups for their confidence.
Why online lending is booming: Venture Alpha East videoKabbage co-founder Kathryn Petralia and BlueRun Ventures Partner Jonathan Ebinger discuss the explosive growth of Kabbage and where online lending is heading.
- Kabbage raises $270 mln in cabbage
Kabbage, an online lender for small businesses, announced today that it has raised a $270 million revolving line of credit. The debt round, which goes directly into the company's lending operations to provide funding to its customers, was oversubscribed. Investors were undisclosed, but a Kabbage spokesperson said they include major banks, pension funds and insurance companies. Previously, the Atlanta-based company raised $97 million in debt, including a $75 million credit facility through Victory Park Capital and Thomvest Ventures in 2013.
- Kabbage raises $270 mln in cabbage
Kabbage, an online lender for small businesses, announced today that it has raised a $270 million revolving line of credit. The debt round, which goes directly into the company's lending operations to provide funding to its customers, was oversubscribed. Investors were undisclosed, but a Kabbage spokesperson said they include major banks, pension funds and insurance companies. Previously, the Atlanta-based company raised $97 million in debt, including a $75 million credit facility through Victory Park Capital and Thomvest Ventures in 2013.
Why online lending is booming -- Kabbage's Kathryn PetraliaKabbage co-founder Kathryn Petralia and BlueRun Ventures Partner Jonathan Ebinger discuss the explosive growth of Kabbage and where online lending is heading at Thomson Reuters' Venture Alpha East 2014 conference in New York. Alastair Goldfisher, editor of Venture Capital Journal, moderates. . Video date: March 26, 2014
Growing number of online lenders aim to disrupt banksLending Club, which potentially is headed toward an IPO, is the most well-financed in the sector, which includes many startups focused on small businesses, the underbanked and even students.