Private Equity
Social psychologist Amy Cuddy of Harvard Business School recently produced some interesting research suggesting that people are highly likely to see someone as competent if they’ve demonstrated expertise in just one area, even if they later display incompetence elsewhere. Think of the star attorney who sails his boat into some rocks. It’s not hard to draw a line from Cuddy’s research to the media frenzy surrounding Andreessen Horowitz, the year-and-a-half old Sand Hill Road firm that almost always garners glowing reviews from the media. When Andreessen Horowitz announced last week that it had just raised a $650 million second fund -- in three weeks, no less -- dozens of news outlets published splashy features about the young firm, which is now managing nearly one billion dollars. One property, VentureBeat, has already anointed Andreessen “the King of Silicon Valley.”
3 min read · 10 November 2010
Dubai-based private equity firm Abraaj Capital will invest $28 million across five startups based in Egypt, Kuwait and Jordan, Reuters reported. The investments come from the firm’s $500 million Riyada Enterprise Development fund, which invests across multiple sectors including healthcare and agriculture. The firm expects to close an additional 10 investment before the end of the year, Reuters said.
1 min read · 09 November 2010
mig33 said Monday that it has received $8.9 million in Series C funding, led by Indonesia telecom entrepreneur Pak Sugiono Wiyono and GREE, a Japanese social networking service. Existing institutional investors Accel Partners, Redpoint Ventures and DCM supported the round. migg33, of Singapore, is a mobile community.
3 min read · 08 November 2010
H.BLOOM has completed a $2.1 million series A round led by Battery Ventures. H.BLOOM's existing investors also participated in the round. New York-based H.BLOOM is a locally-focused flower subscription service which provides flowers at affordable prices. Earlier this year, the company raised $1.1 million from angel investors. Battery Ventures is a VC Firm that manages nearly $4 billion in committed capital.
3 min read · 04 November 2010
Venafi, which is backed by Foundation Capital, UV Partners and Origin Partners, said Thursday that it has appointed Jeffrey Hudson as its CEO. Hudson was previously CEO of Vhayu Technologies. Venafi, of Sandy, Utah, provides digital certificate and encryption key management services.
2 min read · 04 November 2010
PathCentral said Tuesday that it has raised $10 million in Series B financing. Okapi Venture Capital, Arboretum Ventures, and Baird Venture Partners co-led the round. Irvine, Calif.-based PathCentral is an anatomic pathology services company. Okapi Venture Capital is a seed and early stage life sciences and information technology investor. Arboretum Ventures, of Ann Arbor, Mich., is an early stage VC firm that focuses on healthcare services. Baird Venture Partners is the VC fund of Baird Private Equity.
4 min read · 02 November 2010
Provident Healthcare Ventures, of Boston, has launched with $25 million in committed capital that will invest in healthcare sectors like homecare, hospice and infusion therapy. The fund includes an incubator for early-stage start-up funding as well traditional seed funding for larger investments. Investments will range from $250,000 to $3 million. The principals of Provident Healthcare Ventures are providing the capital. Two of the principals of the healthcare fund include Bob Ciardi, Managing Partner of Provident Healthcare Partners, the Boston investment bank, as well as William Shepard, managing director of Provident Healthcare Ventures.
4 min read · 01 November 2010
Venture capital investments in U.S.-based cleantech companies fell during the third quarter of 2010. A total of $575.6 million was invested across 53 financing rounds, representing a 55% decrease in capital compared with the third quarter of 2009, according to an Ernst & Young report.
4 min read · 01 November 2010
It’s been a few days since the Quebec City conference ended and I’ve learned that a survey found attendees are more positive about increased deal flow in fourth quarter, while a sale to a strategic is now the preferred exit route. More than one-fifth, or 22%, of those attending the conference expect to see a 50% surge in M&A during fourth quarter compared to the same time period in 2009, according to Thomson Reuters. Nearly half, or 47%, think M&A will increase by 10% in the fourth quarter. Another 24% expect deal flow to remain flat in fourth quarter. Amazingly, 2% of attendees think deal flow will jump by 100%, while 5% believe deal flow will drop in fourth quarter.
2 min read · 28 October 2010
Minnow Medical Inc. completed two separate funding transactions. The Laguna Hills, Calif.-based developer of a treatment for in-stent restenosis and other peripheral vascular conditions obtained a total of $4.7 million. It sold $3.2 million in preferred shares and $1.5 million in convertible notes that may be exchanged for into preferred stock. Neomed Management was the lead investor in both deals. Minnow’s Chairman Olav Bergheim, Christopher Weil & Co. and other private investors participated in the financing.
3 min read · 21 October 2010
