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Silicon Valley Venture Capital Index Rises For Fourth Straight QuarterVenture capitalists in Silicon Valley express greater enthusiasm for future business conditions, according to a study of industry confidence. The Silicon Valley Venture Capitalist Confidence Index rose to 3.78 in the second quarter, the fourth quarter in a row of improvement. The index is published by University of San Francisco professor Mark Cannice. VCs cited an improving IPO market along with the investment opportunities they see with disruptive technologies.
- Blumberg Capital Earns 52x Return On HootSuite
Blumberg Capital said it earned a 52x return in four years from its investment in HootSuite. HootSuite today announced a $165 million Series B round led by Insight Venture Partners and joined by Accel Partners and OMERS Ventures.
- HootSuite Goes Large With $165M Funding Round
Social media management provider HootSuite announced today it has raised US$165 million in a Series B round led by Insight Venture Partners. Accel Partners and existing investor OMERS Ventures also participated in the round. As part of the funding, Jeff Leiberman, manager director at Insight, Ryan Sweeney, managing partner at Accel, and John Ruffolo, CEO of OMERS, have joined HootSuite’s board of directors. Vancouver, British Columbia-based HootSuite, which was founded in 2009, previously raised more than $21 million in funding from OMERS, Blumberg Capital, Hearst Ventures and others, according to Thomson Reuters (publisher of peHUB).
- Silicon Valley Confidence Index Rises For Third Quarter In A Row
The Silicon Valley Venture Capitalist Confidence Index rose in the first quarter for the third quarter in a row, University of San Francisco Professor Mark V. Cannice said Wednesday. The index of 3.73 (5 indicates high confidence and 1 indicates low confidence) increased from 3.63 in the fourth quarter. The index is meant to measure business sentiment in the entrepreneurial environment of the San Francisco Bay area and Silicon Valley.
Jobs of the Week: Beringea, CID Hiring for Lower Mid-Market; Blumberg, Shell for VentureThis week’s vacancies include both something for those with expertise in the lower mid-market sector and also an associate and senior venture principal role for a technology-focused applicant.
- Insurance Startup CoverHound Inks $4.5M
CoverHound, an insurance startup, has raised a $4.5 million Series A round led by RRE Ventures. Bullpen Capital and existing investor Blumberg Capital also participated. The company has raised a total of $6.5 million.
- Standard Bank’s former PE chief resurfaces at RIT
Graham Thomas, who left Standard Bank in July when the South African lender was scaling back its principal investing business, has joined UK-listed RIT Capital Partners.
- Evolvence hires ex-Blumberg Capital exec as India chief
Ashok Ramaswami will lead a newly hired team as the Dubai-based private equity firm deploys its first India-focused fund of funds, which makes private equity, real estate and infrastructure investments.
- Damballa Taps Scholtz as CEO
Damballa, the Georgia-based tech security company, named David Scholtz as the company’s CEO. Investors in Damballa include Sigma Partners, Adams Street Partners and Blumberg Capital.