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Keep on Rockin’ in the Venture WorldNorwest’s Tim Chang and Mayfield’s Raj Kapoor are part of the latest rock band to hit the venture business
Top 10 VC Recipients of 2010 (So Far)BrightSource Energy today announced $150 million in new VC funding, which it will use to develop utility-scale solar thermal power plants. A couple of readers emailed to ask if it was the largest venture financing of 2010, or even if it should count as a VC deal (as opposed, say, to project finance). The answer to the first question is "no" (it's number four) and the answer to the second question is "yes" (it's equity being contributed by, among others, traditional venture firms). But it reminded me that it's been a while since we updated our list of the year's top VC recipients (so far). Fairly liberal with the term "venture capital," but that's why this is an interim list rather than an official/final list. Get it after the jump...
- peHUB Second Opinion 5.7
Parting Gifts: Anyone want to get me this tent for my travels, which Backcountry.com refers to as an "ugly shitpile"? It's only $50,000. I kid. (Backcountry http://thegoat.backcountry.com/2007/11/28/treetent-for-sale-at-50000/ ) Green Eggs and Ham: David Rubenstein claims he reads six to eight books PER WEEK on international flights. That's less impressive when you learn Rubenstein's favorite author is Dr. Seuss. (Washington Post http://www.washingtonpost.com/wp-dyn/content/article/2010/05/06/AR2010050603521.html?dbk ) Job Report: Jobs are back! So is unemployment. (Felix Salmon http://blogs.reuters.com/felix-salmon/2010/05/07/jobs-come-back-along-with-unemployment/ ) Porn Company Has Plan to Stop SEC Time-Wasting: Starting on May 5, new customers who sign up using a '.gov' email address will be given a free two-week trial to the company's flagship subscription website Pink Visual Pass, provided that the workers only use the site between 6 p.m. and 6 a.m." Anyone who signs up will be denied access if they try to log on during the day. The Secret Cult of Office Smokers: Ostracized by their peers, smokers are taking advantage of their time together (Businessweek http://www.businessweek.com/magazine/content/10_20/b4178073158612.htm?campaign_id=rss_topStories ) Elevation Partners: With Bono on board, Roger McNamee's firm was the first celebrity private equity outfit. Now the founders are struggling to prove their model makes sense. (Businessweek http://www.businessweek.com/magazine/content/10_20/b4178064073538.htm?campaign_id=rss_topStories ) Private inequity: Investors push for more favourable fees and terms, and get them. (Economist http://www.economist.com/business-finance/displaystory.cfm?story_id=16064057&fsrc=rss )
- HP to buy Palm for $1.2B
Deal offers salvation for partial owner Elevation Partners
- April 2010: “An Overdose of Hubris and a Deficiency of Caution”
It's been a rollercoaster /68356/apollos-deal-for-cedar-fair-collapses/ of an April. Click through for a rundown of the past month's biggest successes, failures and tales of idiocy.
- peHUB Wire: Thursday, April 29, 2010
Random Ramblings
- peHUB Wire: Thursday, April 29, 2010
Random Ramblings
- Elevation Salvation: HP To Buy Palm for $1.2 Billion
Well, it's official: Palm will not go bankrupt. Nor will it be Palm for much longer. The troubled PDA maker today agreed to be acquired by HP for $1.2 billion, or $5.70 per share. That's a 23% premium to Palm's closing price today, and a 54% premium to where Palm was trading when I last wrote about /67445/no-bono-is-not-the-worst-investor-in-america/ its prospects. The technorati already is trying to figure out the strategic purpose of this deal, with early consensus being that HP wants Palm's well-regarded OS to serve as the basis for an upcoming tablet. I don't pretend to know, although that makes sense (HP certainly isn't looking to acquire the throngs of Pre owners because, well because there aren't throngs of Pre owners). What I can say, however, is that this deal is terrific news for Elevation Partners, the private equity firm that had invested more than 25% of its $1.8 billion debut fund into Palm. No one at Elevation is going to pretend this is a homerun, or even a single, but it certainly is a save.
- peHUB Wire: Friday, April 23, 2010
Should Banks Invest in Private Equity?
- peHUB Wire: Friday, April 23, 2010
Should Banks Invest in Private Equity?