Northgate Capital related stories
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Last VC Call for Bloom Energy: Fuel Cell Startup Seeks $50 MillionFuel cell maker Bloom Energy is seeking $50 million, in what it's telling prospective investors will be their last chance to buy in before an IPO. Existing shareholder Northgate Capital is somehow involved, although I'm not certain if it's as lead investor or as quasi-placement agent (or both). No word on if other insiders plan to return pro rata. Bloom is a fascinating company, because it is so remarkably divisive among cleantech investors. Proponents consider it to be the energy industry's Google, a revolutionary company that will become ubiquitous. They talk about $20 billion as a floor for the post-IPO valuation -- which I hear is slated for late next year -- with $40 billion being within the realm of possibility.
- Google Ventures to Invest Beyond North America
The venture arm of Google intends to expand, will look for deals in India and other parts of Asia
- Delay in Silver Spring IPO called smart
VC-backed smart grid company looks to launch an IPO in Q4
- A123 Systems and the Public Market Rollercoaster
Yesterday, Dan reported /72060/silver-spring-networks-delays-ipo/ that the Silver Spring Networks has delayed its much-anticipated IPO until Q4 of this year. The smart grid company had been expected to file its S-1 last month and to price sometime this summer. If, as widely believed, Silver Spring postponed its plans owing to PG&E, which has encountered various sets of troubles during its wide-scale deployment of smart metering technologies, the delay looks smart, particularly considering the recent woes of A123 Systems. The lithium-ion battery maker enjoyed a splashy IPO last September, when its shares, offered at $13.50, jumped 50% in their stock market debut to close at roughly $20 a piece. But the news wasn’t so rosy last week, when A123 disclosed that it had missed analysts’ first-quarter expectations, which sent its share price price down $9.60. Today, the company’s $1.04 billion market cap is roughly half what it was back in September.
- Silver Spring Networks Delays IPO
Silver Spring Networks has delayed its much-anticipated IPO until Q4 of this year, peHUB has learned. The smart grid company had been expected to file its S-1 last month and price sometime this summer. A WSJ article suggested that the offering would value Silver Spring at around $3 billion, with Jefferies and Morgan Stanley serving as co-lead underwriters. So what happened? The most likely explanation is that Silver Springs had to recover from fallout of some bad smart meters sold to PG&E in California. Not so much the tech hiccup itself -- Silver Springs quickly corrected the problem -- but rather from the PR mess that resulted from so many customers being over-billed (including some customers who were unaware that smart meters even had been installed).
- Google VC arm to expand, will scout deals in Asia
The firm plans to expand beyond North America, as it looks tor deals in India and Asia
- peHUB Wire: Monday, April 5, 2010
Random Ramblings
- peHUB Wire: Monday, April 5, 2010
Random Ramblings
- Exit watch, week of March 29, 2010
Briefs about CoWare and other investment-backed companies bought in the past week
- Yahoo To Buy VC-Backed Citizen Sports
Yahoo Inc. (Nasdaq: YHOO) has agreed to acquire Citizen Sports, a San Francisco-based operator of a virtual market for professional athlete futures. No financial terms were disclosed. Citizen Sports had raised over $25 million in VC funding from firms like Northgate Capital and Radar Partners.