Kleiner Perkins related stories
All articles and analysis
peHUB First Read* Treasury Dep't names nine PPIP managers https://admin.venturecapitaljournal.com/44159/us-picks-9-managers-for-toxic-asset-program/ although it says more than 100 firms applied. So much for wanting highly-competitive bidding. Wonder how many pure private equity names were among the denied, since there really aren't any among the chosen (Oaktree and Investco/WL Ross are as close as it gets). Theo Francis has some related thoughts http://www.businessweek.com/blogs/money_politics/archives/2009/07/will_treasurys_1.html * Ryan Lizza goes in-depth on Sheila Bair http://www.newyorker.com/reporting/2009/07/06/090706fa_fact_lizza?currentPage=all * Mark Suster: Is VC too fat and happy? http://bothsidesofthetable.com/2009/07/08/is-vc-too-fat-and-happy/ * Morning Call: U.S. futures point upward http://www.reuters.com/article/usMktRpt/idUSL942771920090709 London rises early http://www.reuters.com/article/londonMktRpt/idUSL945991220090709 European shares extend gains http://www.reuters.com/article/eurMktRpt/idUSL944074220090709 the Nikkei hits 7-week closing low http://www.reuters.com/article/tokyoMktRpt/idUSTKW00650620090709 and HK and China shares finish up http://www.reuters.com/article/hongkongMktRpt/idUSHKG12119820090709 * Jenny Sanford was on her way to becoming an I-banking powerhouse http://money.cnn.com/2009/07/08/magazines/fortune/jenny_sanford.fortune/index.htm?postversion=2009070810 until she met straying hubby Mark.
- Why Several High-Profile VCs Sponsored Andreessen
Marc Andreessen and Ben Horowitz's $300 million VC fund received no shortage of press attention yesterday, with Google showing 420 articles published online alone (including two here at peHUB). Given reader appetite for the story, it isn't surprising that several related articles emerged today. Using the fund as a springboard, the New York Times, for example, published a piece http://www.nytimes.com/2009/07/07/technology/start-ups/07venture.html?_r=1&dbk about VCs feeling the need to return to the basics, with Horowitz observing that too many firms base dollar commitments on fund size or number of partners. Another follow-on piece was published by BusinessWeekhttp://www.businessweek.com/the_thread/techbeat/archives/2009/07/made_men_why_ve.html It's about the perceived role that superstar VCs like John Doerr of Kleiner Perkins and Jim Breyer of Accel played in the ability of Andreessen and Horowitz to close on all that money. To wit, the magazine reports that Doerr, Breyer, and Aneel Bhusri of Greylock Partners made numerous introductions to their own LPs on behalf of Andreessen and Horowitz. It goes on to state that in the long tradition of sponsorship in the venture business, such personal introductions translate into more credibility. "Being sponsored is sort of like being a made man in the mob. You are tapped on the shoulder and invited into an elite club.” While true that Andreessen and Horowitz raised their fund with enviable ease -- they began meeting with investors in early March, soon after Andreessen announced his plans to dive into VC on the "Charlie Rose" show --I strongly question whether the other firms' sponsorship should be credited.
Triple ThreatAnu Nagam hit it big with Cerent and Siara. Now he’s looking to three-peat.
- peHUB Wire: Friday, June 26, 2009
Did VC Fund Size Cuts Work?
- peHUB Wire: Friday, June 26, 2009
Did VC Fund Size Cuts Work?
- Did VC Fund Size Cuts Work?
[UPDATED] Coller Capital last week released a survey of limited partners, in which 65% of respondents said that they expect VC fund terms to become more LP-friendly over the next two years. This was portrayed by some as a sea change in the LP/GP power dynamic, although I suggested /42146/lps-say-no-mas-to-future-funds-but-what-about-existing-ones/ that “LPs would have more credibility if they began insisting on changes to funds that have already been raised.” My dissent was rooted in the memory of late 2001 and early 2002, when LPs fought back against the obesity of VC funds raised during the dotcom bubble. Sixteen U.S.-focused venture capital firms “volunteered” to cut their fund sizes by an aggregate of nearly $4.5 billion, including brand names like Accel Partners, Battery Ventures and Kleiner Perkins. The argument for such cuts – which were technically agreements not to call down a certain percentage of committed capital – was twofold: (a) Valuations and investment opportunities had fallen post-bubble, so less money was needed; and (b) VC firms tend to perform better when they focus on earlier (read: smaller) investments, so this was a return to successful knitting. LPs were happy with the resulting management fee reductions, and GPs were happy that their LPs were happy (butter ‘em up for the next fundraise). All hunky dory, except we’ve never actually looked to see if fund reductions produced better returns. So let’s do that now:
- peHUB First Read
* Paul Kedrosky considers (and reconsiders) http://paul.kedrosky.com/archives/2009/06/venture_capital_19.html the venture capital's ability to pose systemic risk. * Just a week ago, it looked like Platinum Equity had Delphi Corp. all to itself (which sounds kind of like having eczema all to yourself). Then a judge opened up the process, and the bankrupt auto parts company's lenders are now considering a bid http://www.nypost.com/seven/06182009/business/delphi_lenders_eyeing_more_174858.htm * Morning Call: U.S. futures are mixed http://www.reuters.com/article/usMktRpt/idUSLI43137220090618 London opens flat http://www.reuters.com/article/londonMktRpt/idUSLI22307420090618 Europe extends losing streak http://www.reuters.com/article/londonMktRpt/idUSLI22307420090618 the Nikkei loses 1.4% http://www.reuters.com/article/tokyoMktRpt/idUST17538720090618 and both Hong Kong and Shanghai rise http://www.reuters.com/article/hongkongMktRpt/idUST3777620090618 * What kind of sharks are Bank of America sharks? http://dealbreaker.com/2009/06/what-kind-of-sharks-are-bank-o.php * Kleiner Perkins backs another e-vehicle startup http://www.thedeal.com/dealscape/2009/06/doerr_pickens_invest_in_v-vehi.php and has brought T. Boone Pickens along for the ride. * Has the chip market turned the corner? http://deals.venturebeat.com/2009/06/17/has-the-chip-market-turned-the-corner-toward-recovery/ Freescale's investors sure hope so... * All Twitter, all the time: Who's investing in Twitter startups? http://www.businessinsider.com/whos-investing-in-twitter-startups-2009-6 The NVCA begins Twittering at www.twitter.com/nvca http://www.twitter.com/nvca For a full list of VC tweetheads, go to www.venturemaven.com http://www.venturemaven.com/ (thx @bfeld http://www.twitter.com/bfeld ).
- Hara aims to reduce carbon footprint
Kleiner Perkins-backed Hara launches with $6M in VC funding
- Burrill and Khosla Back HCL CleanTech
HCL CleanTech, a developer of technology for converting cellulosic biomass into fermentable sugars, has raised an undisclosed amount of VC funding from Burrill & Co. and Khosla Ventures.