New Enterprise Associates related stories
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Exit watch, week of July 12, 2010News briefs about Greenplum, Playdom and other VC-backed companies that were recently acquired
- The Year's 5 Best (and 5 Worst) Performing VC-Backed IPOs
Venture capitalists brought 26 companies to U.S. public markets in the first half of 2010, raising billions of dollars. Unfortunately, the majority of those companies are now trading below their offering price (16 of them, to be exact), with average performance at a pathetic -9.14 percent. So I figured it was time to take a quick look at the best performers, and the worst. Particularly notable is that four of the five top performers are based in China (but priced here). Get them after the jump...
- Playdom Buys Social Gamer Metaplace
Playdom, a Mountain View, Calif.-based social gaming company, has acquired Metaplace Inc., a San Diego-based social gaming technology and game design. No financial terms were disclosed. Metaplace had raised $9.4 million from Charles River Ventures, Crescendo Ventures, Marc Andreessen and Ben Horowitz.
- United BioSource Secures $125 Million
United BioSource, a Bethesda, Md.-based scientific and medical affairs organization, has secured a $150 million line of credit for future acquisitions and other growth activities. Participants in the new credit facility included Wells Fargo, PNC Bank, Capital One and JPMorgan. United BioSource recently sold a minority equity stake to Berkshire Partners for $125 million, which followed more than $150 million in VC funding from Grotech Capital Group, J.H. Whitney and New Enterprise Associates.
- Eucalyptus Systems in $20 million Funding Round
Eucalyptus Systems Inc. has completed a $20 million round of funding led by New Enterprise Associates, a new investor. Benchmark Capital and BV Capital, current investors, also participated. Eucalyptus, of Santa Barbara, Calif., creates open source cloud software and has raised $25.5 million to date with two rounds of funding.
Vetting Entrepreneurs Is More Art than ScienceThe disgraces of Canopy Financial and Entellium suggest venture firms should do more diligence, but VCs say deciding to back an entrepreneur is a lot more involved than just doing a background check