Kleiner Perkins related stories
All articles and analysis
Live-Blogging NVCA Legends InterviewHere at the NVCA Annual Meeting in Boston. What follows is a live-blog of five legends of healthcare VC investing: Brook Byers (Kleiner Perkins), Jim Blair (Domain Associates), Jean Deleage (Alta Partners), Tony Evnin (Venrock) and Grent Heidrich (Mayfield). Get it after the jump.
- peHUB Rewind
Here's a look at the past week's scoops, opinions and analysis from the peHUB blogging team. We kicked off the week with some officially horrifying VC deal data http://feedproxy.google.com/%7Er/pehub/blog/%7E3/ibNuzfSZEwQ/ In better news, peHUB learned that Netscape co-founder Marc Andreessen and former Opsware exec Ben Horowitz are hoping to raise around $250 million for their debut venture capital fund http://feedproxy.google.com/%7Er/pehub/blog/%7E3/ohxhS4lnDhc/ A VC-backed company filed a lawsuit http://feedproxy.google.com/%7Er/pehub/blog/%7E3/dOv2N4slc-8/ against its backers, which includes Battery Ventures and Index Ventures. Further, the founders of Broadcom are being tried for fraud http://feedproxy.google.com/%7Er/pehub/blog/%7E3/ohxhS4lnDhc/ In other lawsuit news, Pink Floyd is suing Terra Firma http://feedproxy.google.com/%7Er/pehub/blog/%7E3/zdpi3-qrLkQ/ Also, Marc Cuban backed an SMS messaging platform company http://feedproxy.google.com/%7Er/pehub/blog/%7E3/eissZECSHU8/ ../../../../../wp-content/uploads/150px-morgenthaler_logo.png Kevin Macdonald has joined Morgenthaler http://feedproxy.google.com/%7Er/pehub/blog/%7E3/xOLdKDKc_l4/ Kleiner Perkins is benefitting from Swine Flu http://feedproxy.google.com/%7Er/pehub/blog/%7E3/cr7b6ibINKU/ Evite continues its war against Socializr http://feedproxy.google.com/%7Er/pehub/blog/%7E3/CPhuX9XKZf8/ startup Zango has closed shop http://feedproxy.google.com/%7Er/pehub/blog/%7E3/YPNO2sspg-g/ and a hemp startup http://feedproxy.google.com/%7Er/pehub/blog/%7E3/YPNO2sspg-g/ called Living Harvest Foods is looking for money. Another new venture capital firm entered the world: Step5 Ventures http://feedproxy.google.com/%7Er/pehub/blog/%7E3/TV9btn5NHos/ Call me old timey, but I prefer firms with surnames or real words in their titles. (Then again, the name "peHUB" doesn't exactly follow that sentiment.) Two VCs are interested in political office: Scott Murphy of Advantage Capital http://feedproxy.google.com/%7Er/pehub/blog/%7E3/cr7b6ibINKU/ and Joanna Rees http://feedproxy.google.com/%7Er/pehub/blog/%7E3/Jo4oBHiGETo/ of VSP Capital. Connie is ready to send Lou Dobbs to space http://feedproxy.google.com/%7Er/pehub/blog/%7E3/jge22-CiRzg/ Alastair has some regional VC numbers on an unlikely VC state http://feedproxy.google.com/%7Er/pehub/blog/%7E3/tCteDtwL7Ls/ : Michigan, and Joanna has the scoop on SecondMarket http://feedproxy.google.com/%7Er/pehub/blog/%7E3/rXSw_fhcRPY/ which officially launched its Private Company Marketplace last week. Alex reports that VC networking is back http://feedproxy.google.com/%7Er/pehub/blog/%7E3/qYTRoGjAdDI/ and he's not talking about schmoozing over wine and swapping business cards. In honor of Earth Day, we looked at Cleantech numbers http://feedproxy.google.com/%7Er/pehub/blog/%7E3/lsLN6SpdeBY/ On the buyouts side, the top story continued to be New York's state pension fund scandal. Dan wrote that it's time for public pension funds to track fund flow http://feedproxy.google.com/%7Er/pehub/blog/%7E3/e7LZ7_Afkug/ We followed the ups and downs of the story, including Quadrangle's LP vote and New York's decision to ban placement agents. Here's a list of our posts from last week:
- peHUB First Read
* Let's make a deal http://dealbook.blogs.nytimes.com/2009/04/26/unions-reach-deal-with-chrysler/ : Chrysler and the UAW reach an agreement that satisfies the fed government's requirements for the automaker to get more financing. * Michael Bloomberg defends Steve Rattner http://blogs.wsj.com/deals/2009/04/24/mayor-mike-steve-rattner-why-do-you-ask/ Now if only Rattner would come out of hiding and speak for himself. * Morning Call: U.S. futures fall http://www.reuters.com/article/usMktRpt/idUSLR15120020090427 on swine flu fears, London down early http://www.reuters.com/article/usMktRpt/idUSLR15120020090427 European shares drop http://www.reuters.com/article/eurMktRpt/idUSLR13121120090427 the Nikkei rises http://www.reuters.com/article/eurMktRpt/idUSLR13121120090427 and Hong Kong shares hit a three-week low http://www.reuters.com/article/eurMktRpt/idUSLR13121120090427 * Buyouts Magazine http://www.buyoutsnews.com/story.asp?storycode=47292 (sub req): Need a vacation from the denominator effect? Head abroad. * Allan Frank http://www.thedailybeast.com/blogs-and-stories/2009-04-24/banks-tarp-cover-up/ : Why did Ken Lewis go along with the cover-up? * Felix Salmon gets seduced by The Lending Club http://blogs.reuters.com/felix-salmon/2009/04/24/the-attraction-of-lending-club/ a P2P lender that has raised nearly $30 million from venture capitalists. * This WSJ editorial is absolutely correct http://online.wsj.com/article/SB124061253951954349.html#mod=djemEditorialPage that certain states should lift the artificial caps put on the number of Teach for America folks working in their schools. I have two very close friends who were part of Teach for America, and each complained at the time that their schools -- one in Arkansas, one in southern Texas -- were painfully understaffed. Or perhaps some sort of recruiting/relocation program to import the legions of laid-off teachers in more affluent areas...
- Andreessen Horowitz targets $250M
Early stage investors don't plan on taking any board seats
- Stoke Raises $15 Million
Stoke Inc., a Santa Clara, Calif.-based maker of convergence gateways for fixed and wireless broadband access technologies, has raised $15 million in Series D funding. NetOne systems Co. (Japan) and return backer Reliance Technology Ventures (India) co-led the round, and were joined by Kleiner, Perkins, Caufield & Byers, Sequoia Capital, Integral Capital Partners, Pilot House Ventures and DAG Ventures. Prior to this round, Stoke had raised over $50 million.
- Zynga's Mark Pincus on When to Hold 'Em, and When to Fold 'Em
Vator.tv just posted an interview with serial entrepreneur Mark Pincus, who has raised $39 million from Kleiner Perkins and others for his game company Zynga, as well as founded the social network Tribe Networks and Supportsoft, a company that went public in 2000. Pincus is a smart guy; he has some interesting advice to entrepreneurs who are trying to launch their businesses in these gloomy economic times. Watch the video after the jump.
- peHUB First Read
* Facebook reportedly rejects more money http://venturebeat.com/2009/04/15/facebook-rejects-funding-at-4-billion-valuation-may-not-raise-more/ Eric Eldon focuses on the valuation, but I want to know who the prospective "private equity" investors were. First Skype, now Facebook? Is private equity finally moving into Internet tech (as Erin suggested yesterday https://admin.venturecapitaljournal.com/37298/is-ebayskype-just-the-beginning-for-tech-carve-outs/ )? * Treasury Dep't says U.S. bank lending decreased in February http://www.charlotteobserver.com/business/story/665464.html * Sam Zell on Tribune acquisition http://newsblogs.chicagotribune.com/towerticker/2009/04/sam-zell-on-tribune-co-acquisition-i-made-a-mistake-i-was-too-optimistic-.html : "I made a mistake." * Morning Call: U.S. futures fall http://www.reuters.com/article/usMktRpt/idUSN1654426220090416 as General Growth's bankruptcy http://www.reuters.com/article/bankruptcyNews/idUSLG52607220090416 offsets J.P. Morgan's earnings http://www.reuters.com/article/newsOne/idUSTRE53F2BC20090416 London up early http://www.reuters.com/article/londonMktRpt/idUSLG62137820090416 European shares extend gains http://www.reuters.com/article/eurMktRpt/idUSLG11105020090416 the Nikkei's gains vanish http://www.reuters.com/article/tokyoMktRpt/idUST25005920090416 after China's GDP report http://www.reuters.com/article/companyNewsAndPR/idUSSP42170720090416 and Hong Kong falls http://www.reuters.com/article/hongkongMktRpt/idUSHKG25812820090416 on that same data. * PIPE issuance drops in Q1 http://blogs.reuters.com/reuters-dealzone/2009/04/15/a-pipe-dream-for-companies/ following a relatively soft 2008 (save for those injections into the banking sector, like WaMu). * Last week, we wrote about an academic study https://admin.venturecapitaljournal.com/login.php?p=/36689/study-finds-business-plans-a-waste-of-time/ that found business plans are mostly a waste of time, vis-a-vis raising venture capital. Venture capitalist Healy Jones has some additional thoughts http://www.startable.com/2009/04/15/a-couple-more-thoughts-on-business-plans/ * Kleiner Perkins fix-it guy Mike Long is now at Terralliance http://money.cnn.com/2009/04/14/magazines/fortune/lashinsky_kleiner.fortune/index.htm?postversion=2009041506 * Sarah Lacy vs. The NY Times, as reported by the New York Observer http://www.observer.com/2009/media/silicon-valley-girl-gets-tough-times The only winner is everyone's Comscore.
- peHUB First Read
* Silicon Valley VC Confidence Index http://www.usfca.edu/sobam/nvc/pub/svvcindex.html : A small increase after five straight quarters of decline. * Judge Richard Posner last Friday rejected Equity Office shareholder claims that they were ill-served by the company's sale to Blackstone Group. The Harvard Law School Corporate Governance Forum examines the decision http://blogs.law.harvard.edu/corpgov/2009/04/04/seventh-circuit-rejects-merger-litigation/ * Morning Call: U.S. futures indicate more April showers http://www.reuters.com/article/usMktRpt/idUSL831694220090408 European shares dragged down http://www.reuters.com/article/eurMktRpt/idUSL822747920090408 by banks and commodities, London down in early trading http://www.reuters.com/article/londonMktRpt/idUSL860410820090408 the Nikkei loses 2.7% http://www.reuters.com/article/tokyoMktRpt/idUST27952120090408 and Hong Kong falls 3 percent http://www.reuters.com/article/hongkongMktRpt/idUSHKG27701420090408 * Cleantech companies announced more than $115 million in new VC funding yesterday (Fisker https://admin.venturecapitaljournal.com/36515/fisker-auto-raises-85-million/ SW Windpower https://admin.venturecapitaljournal.com/36493/southwest-windpower-raises-10-million/ OPX https://admin.venturecapitaljournal.com/36453/opx-biotech-raises-175-million/ etc.) -- the same day that Merrill Lynch cleantech analyst Steven Milunovich lowered his sector rating. * What interview questions http://www.slate.com/id/2215503/ did D.E. Shaw ask Larry Summers? * Hedge funds gained 1.8% in March http://dealbook.blogs.nytimes.com/2009/04/07/hedge-funds-gained-18-over-all-in-march/ * Is Microsoft embracing its inner NERD? http://www.innoeco.com/2009/04/is-microsoft-embracing-its-inner-nerd.html
- Fisker Auto Raises $85 Million
Fisker Automotive Inc., an Irvine, Calif.-based electric car maker, said that it has raised $85 million in Series D funding from Eco-Drive (Capital) Partners and return backer Kleiner Perkins Caufield & Byers. This follows up on around $80 million in prior funding, including a $68.5 million Series C round for which peHUB recently found a regulatory filing. Other Fisker shareholders include Palo Alto Investors and Al Ghaffara Investment Co. (Quatar).