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The Biggest Tech Deals of the Quarter -- SlideshowLarge-cap technology companies didn’t exactly go on a spending spree in the second quarter. However, they did make at least a few big acquisitions. In the following slideshow, we take a look at the Top Ten.
Venture-Backed IPOs Doing Well So Far This YearSo far, 2013 has been a relatively welcoming environment for venture-funded startups. Twenty-five initial public offerings have been completed, according to Thomson Reuters, and 17 of them are trading above their offering price.
Venture-Backed IPOs Turn in Favorable Performance So Far This YearSo far, 2013 has been a relatively welcoming environment for venture-funded startups. Twenty-five initial public offerings have been completed, according to data from peHUB publisher Thomson Reuters, and 17 of them, 68%, are trading above their offering price.
Firebase Raises $5.6 Million Series AFirebase, a three-year-old, San Francisco-based startup whose cloud service is designed to power collaborative communications in real time, has raised $5.6 million in Series A funding from Union Square Ventures and Flybridge Venture Capital. The company had raised $1.4 million in seed funding last year from Flybridge, Data Collective, Greylock Partners, New Enterprise Associates and Expansion Venture Capital.
- Kurma Life Sciences Partners Raises €44M for New Fund
Europe-based Kurma Life Sciences Partners said on Thursday that it has closed €44M for Kurma Biofund II: The Orphan Initiative, a fund focused on rare diseases. Investors included KLS Partners, GlaxoSmithKline, bpifrance (CDC Entreprises), Idinvest Partners and New Enterprise Associates.
- GSK Links with French Venture Firm to Target Rare Diseases
GlaxoSmithKline is investing 17.5 million euros ($23.5 million) in a new venture fund to invest in drugs for rare diseases, underscoring the growing role of big drugmakers in backing start-up companies, Reuters reported.
- SocialRadar Raises $12.75 Mln in Series A Funding
SocialRadar said on Wednesday that it has closed $12.75 million in Series A funding. Lead investors were New Enterprise Associates, Grotech Ventures and SWaN & Legend Ventures. Also participating in the round were Steve Case, co-founder of America Online; Ted Leonsis, owner and CEO of Monumental Sports & Entertainment; Dave Morin, co-founder and CEO of Path; Steven Gruber, managing partner at Oak Hill Capital Partners; and Mark Ein, CEO of Venturehouse Group and owner of the Washington Kastles. SocialRadar is a provider of social location-based technology.
- VC-Backed Pure Energies Closes $5M Debt Round
Toronto-based Pure Energies Group, a company which supports the adoption by homeowners of solar energy and conservation products, has secured $5 million in debt financing from Western Technology Investment, a debt and equity capital provider located in Portola Valley, California. As reported by peHUB Canada/2013/05/06/pure-energies-secures-6m-from-nea-ngen/ Pure Energies earlier this year received a $6 million equity investment from U.S. venture capital firms New Enterprise Associates and NGEN Partners.
Fund Performance: Several Mass PRIM Venture Investments See DeclineFunds by Spark and NEA lost some ground, but still remain in positive territory
- NEA and Contour Venture Partners Back Scratch Music Group
Scratch Music Group, a New York-based music and technology company, said on Friday that it received additional growth financing. No financial terms were disclosed. The lead investor was New Enterprise Associates. Existing investor Contour Venture Partners also participated in the round.