Private Equity
There has been an extraordinary amount of digital ink spent on Sequoia Capital’s “graveyard” deck, but it seems that the stuff is infinite. So here’s a litle bit more, in notes form: 1. Sequoia has gotten a lot of credit for “telling it like it is,” but shouldn’t it also get some blame for being behind the eight-ball? Specifically, how did Sequoia seemingly allow so many of its companies to become so bloated – particularly the young ones – that they can shed jobs with relative ease? It's one thing to kill off a non-core auto or financial services vertical, but quite another to slash within the main biz. Smart CEOs were beginning to cut burn rate quarters ago, and smart VCs were telling the
1 min read · 19 November 2008
2 min read · 19 November 2008
2 min read · 19 November 2008
2 min read · 18 November 2008
Morgenthaler Ventures last week raised $400 million for its ninth fund, and its first to not include an actual Morgenthaler within the general partnership. Alex Haislip reports over at PE Week (sub req.) that Gary Morgenthaler will be a "venture partner" on the new fund, and quotes firm spokeswoman Ching Wu as saying: He has reached a point in his career where he would like more freedom to manage his personal investments and activities. This arrangement allows Gary the flexibility he seeks while keeping him connected to the work and industry he loves. Gary joined the firm in
1 min read · 17 November 2008
1 min read · 15 November 2008
Atlanta Life Financial Group has canceled fundraising for the Atlanta Life Venture Fund, which was launched last year to target revenue-stage companies providing goods and services to Fortune 1000 companies. It had planned to focus on the Southeastern U.S., with a particular emphasis on the Atlanta area.
2 min read · 14 November 2008
Accel Partners has raised $60 million for a new fund focused on seed and early-stage opportunities in India.
2 min read · 13 November 2008
Morgenthaler Ventures has closed its ninth fund with just over $400 million in capital commitments. This is the firm's first dedicated VC fund, and will expand its focus from early-stage to growth-stage (Series B and Series C rounds). Prior funds also invested in buyouts. Morgenthaler also has added Rebecca Lynn as a principal and Guido Appenzeller as an entrepreneur-in-residence. Lynn previously was VP of marketing for NextCard, while Appenzeller is co-founder of Morgenthaler portfolio company Voltage Security.
5 min read · 13 November 2008
Starfish Ventures of Australia has closed its second fund with A$185 million in capital commitments. It will invest in IT, life sciences and cleantech companies.
2 min read · 13 November 2008
