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Growth equity an eclectic mix at Hawaii ERS: VCJThe growth equity portfolio at the Hawaii Employees’ Retirement System is an eclectic mix of small-scale later stage funds and massive multi-billion capital pools with a broad, balanced approach. Results are reasonably good.
Fidelity may make pre-IPO investment in HootSuite MediaCanadian social relationship platform HootSuite Media is expected to soon secure financing from U.S. mutual fund and financial services firm Fidelity Investments, reports http://online.wsj.com/articles/canadas-hootsuite-is-close-to-investment-from-fidelity-1408990038 the Wall Street Journal citing "a person familiar with the matter." While the possibility "is still months away," the source also said an investment by Fidelity signals that an initial public offering remains HootSuite's "ultimate goal." The amount of the expected financing was not disclosed, however, it was said that HootSuite has been valued in advance at US$725 million.
Fund performance: Growth equity an eclectic mix at Hawaii ERSFunds from JMI, Weston top portfolio
OMERS' John Ruffolo tops Canada’s 50 most powerful business peopleJohn Ruffolo, CEO of OMERS Ventures, the venture investment arm of the Ontario Municipal Employees Retirement System, has been selected for the top spot of Canadian Business magazine http://www.canadianbusiness.com/lists-and-rankings/most-powerful-people/power-50-2014-1-10/ 's 50 most powerful business people. The magazine said that Ruffolo's launch of OMERS Ventures in 2011 has provided "a fix to Canada’s chronic lack of VC," which is something that should matter "as much to Bay Street as it does to entrepreneurs."
What will it take for more women to break into the VC boy's club?Despite talk about recruiting more women VCs, the industry’s gender balance hasn’t budged at senior levels, even as other industries show improvements
Dermira fetches $51 mln Series CDermira, a Redwood City, Calif-based maker of medical dermatology products, has closed $51 million in Series C financing. The investors included Bay City Capital, New Enterprise Associates, Canaan Partners, UCB S.A., Apple Tree Partners, Aisling Capital, Rock Springs Capital and Sabby Capital. Leerink Partners was the placement agent for the financing. In addition to the funding, Dermira has named Andrew Guggenhime as chief operating officer and chief financial officer; Christine Conroy as senior vice president of regulatory affairs; and Christine Ring as vice president of legal. It has also appointed David E. Cohen, Matthew Fust, Mark McDade and William Ringo to its board of directors.
- Scale Venture Partners' Kate Mitchell rejoins NVCA board of directors
Kate Mitchell, co-founder and partner of Scale Venture Partners, has rejoined NVCA's board as a director. Previously, Mitchell joined the board as a director in 2007 and then later served as a chairman from 2010 to 2011. Her current term will expire in 2016. Mitchell's appointment comes after Silver Lake Kraftwerk's Adam Grosser's resignation from the board.
Despite lip service, Silicon Valley venture capital still a man’s worldDespite the lip service Silicon Valley has given about the need to recruit more women venture capitalists, at senior levels the industry’s gender balance hasn’t budged, even as other industries with poor gender diversity show improvements.
Bubble-year funds struggle to get ahead: VCJMany bubble-year funds still struggle to turn the corner. This is the case at the Employees’ Retirement System of the State of Hawaii, where mixed results describe a portfolio of 23 funds with vintages of 1998, 1999 and 2000.
- Closing the gap between management and finance
Surveys of entrepreneurs often cite finance as a major barrier to starting and growing innovative companies in Canada. What is often ignored, writes Conference Board of Canada research director Michael Grant , is that funding is only half of the solution. The other half is management capabilities to use risk capital effectively and create value.