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Question of the Week: Do Celebrity Hires Produce Real ROI?Create your free online surveys http://www.surveymonkey.com/ with SurveyMonkey, the world's leading questionnaire tool. When we heard Larry Summers was jumping into the VC game https://admin.venturecapitaljournal.com/110511/ex-treasury-secretary-summers-to-be-special-advisor-for-andreessen-horowitz/ we just assumed Kleiner Perkins was adding another celebrity to its roster. But it turned out that newbie venture firm Andreessen Horowitz brought on the former U.S. Treasury Secretary as a “part-time special advisor.” We’re still trying to figure out what a part-time special advisor does, but the more pressing question we have is whether big shots like Summers do anything for a venture firm other than get it mentioned in the press. Before we start calling these firms to ask our annoying questions, we’d like to know what you, dear reader, have to say. For example, do you think that U2 lead singer Bono http://www.elevation.com/EP_IT.asp?id=112 has added value to Elevation Partners, the technology-focused PE firm he co-founded in 2005? It’s not clear to us what Elevation has gotten out of the relationship – besides the fact that Elevation co-founder Roger McNamee’s band, Moonalice, got to open for U2 http://www.mercurynews.com/business/ci_18202641 in Oakland, Calif., earlier this month. We’re also curious about how Kleiner Perkins has benefitted from its alliances with
- Mandiant Inks Funding from One Equity, KPCB
Mandiant, a developer of threat detection and response security software and services, has raised an undisclosed amount from One Equity Partners, the private investment arm of JPMorgan Chase, and venture firm Kleiner Perkins Caufield & Byers. Terms of the investment were not released. As a result of the round, KPCB’s Ted Schlein and One Equity’s A. Jody Gessow will join the company’s board.
- KPCB, IVP Plow $32M into Shazam
Shazam has raised $32 million in a new funding round co-led by Kleiner Perkins Caufield & Byers and Institutional Venture Partners. Existing shareholder DN Capital also participated in the round. The money will help Shazam continue development of its real-time discovery and sharing application, with plans to expand into television with “Shazam for TV.”
- Slideshow: VCs and PE Execs Who've Made the Leap into Pro Sports
Lately, new investors have been popping up from coast to coast in professional sports teams deals. As entrepreneurs’ companies and PE and VC portfolios rebound, some of the boldface names in charge of them are loosening purse strings to make the mega-ego purchases of professional ballclubs. That means that, possibly, PE pros Josh Harris and Steve Pagliuca could find themselves in a dispute not over how the carry is split in a club deal, but over who carried the ball the previous night in the Celts-76ers game. Although these investors are savvy when it comes to LBOs, IPOs and dividend recaps, things haven’t always panned out the way they’ve wanted on the diamond/gridiron/hardwood/ice....