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Trending on peHUB this week: Jobs for college seniors at PE-backed companies, Munder Capital and Victory Capital merging, TIAA-CREF buying Nuveen, Pomona Capital fundraising, and more.

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A Year of Truth for Secondary Markets as Big Players Move to Public Markets; Millennium Sees Big Growth Ahead

Last year was pretty solid year for the secondary market. SecondMarket’s results are just one example. The online exchange for private company shares said its transaction volume surged 55% to $558 million as ex-employees, investors and founders sold shares to institutional and other buyers. This year could be a moment of truth. With private company […]

Venture Debt Provider Hercules Says 2011 Commitments Were About $630M

Hercules Technology Growth Capital released its year-end results with details on its venture debt business. The company said commitments in 2011 were about $630 million, up 20% from last year.  Hercules also said in a press release that it entered into an agreement to buy about $9.6 million of Facebook (307,500 shares) on the secondary […]

Industry Ventures Closes $400 Million Fund VI

San Francisco-based Industry Ventures announced today that it has closed a $400 million secondary fund focused on venture capital and technology growth equity investments. Fund VI is the firm’s largest fund to date. Its fifth fund, which totaled $265 million, closed in 2008. Earlier this year, the firm closed a $155 million Special Opportunities Fund, […]

Week’s Top 10 peHUB Posts Led by LinkedIn IPO’s Biggest Winners

Hey, it’s Friday. Time to catch up on your reading. Here are the 10 posts regular peHUB readers found most interesting this week.

1. Slideshow: Top 10 Biggest Winners in LinkedIn’s Moon-Shot IPO, by Lawrence Aragon

2. Slide Show: Top IPO Pops By Venture-Backed Companies, by Steve Bills

3. VCs Are Interested in Stuff Besides Social Media (Really), by Nadia Damouni and Jennifer Saba, Reuters

4. VCs from Accel, Atlas and Google Ventures Are Skeptical of Secondary Market Trading, by Jennifer Saba and Nadia Damouni, Reuters

5. Scoop: ‘Super LP’ Chris Douvos Leaving The Investment Fund for Foundations, by Lawrence Aragon

6. Jeffrey Bussgang: Five Lessons Entrepreneurs Can Learn from Navy SEALs, by Jeffrey Bussgang, Flybridge Capital Partners

7. Lovechildren, Sexual Assaults, Now A Lovelorn Venture Elopement Sparks Controversy In China, by Mark Boslet

8. The Good-But-Not-Great News About Venture Returns, by Connie Loizos

9. Jules Maltz Speeds to GP Post at IVP, by peHUB staff

10. UBS Adds Frisch to Tech Banking Team, by Nadia Damouni, Reuters

Top 10 Blog Posts for Past Week Focus on Founders Cashing Out Too Early, Sweeter Fund Terms, Social Food Sites, More

Want to catch up on what your colleagues found most interesting on peHUB last week? Here are the top 10 blog posts written by peHUB staffers that garnered the most pageviews from our regular readers from April 18 to April 22.

No. 1: Concern Grows Over Founders Cashing Out Too Much, Too Early
No. 2: Fund Terms Grow Sweeter; Bain Expected To Offer 20% Carry
No. 3: Churchill Financial Files To Form A BDC
No. 4: Hungry VCs Like the Taste of Social Food Sites
No. 5: Charlesbank, H.I.G. Sell Vision Source After Nearly A Year
No. 6: Global Secondary Market Expected to Surpass $25B, as Asian Deals Take Off
No. 7: Decide.com Gets Another Big Name Advisor And $6M In Cash
No. 8: Social Scene: Hard-to-Get Seats at Obama’s Facebook Town Hall, Foundry Dudes Rock a New Band, 13-Year-Old’s Entreprenurial Spirit Inspires
No. 9: Silver Lake Kraftwerk Confirms Atluru And Fichtner As Partners
No. 10: Washington State Re-Ups With $300 Million to Providence Equity Partners

Top 10 peHUB Posts This Week (New Regular Reader Edition)

Want to catch up on what your colleagues found most interesting on peHUB this week? Here are the blog posts written by our staff this week that garnered the most pageviews by our regular readers from March 28 to April 1. (Note: Instead of tracking total pageviews, this list now tracks pageviews by return readers to make it more relevant to our core audience. –Ed.)

Post No. 1: Slideshow: Top Performing VC-backed Chinese IPOsby Lawrence Aragon

Post No. 2: Who Are The Most Influential VCs and Angels? Check Out This Listby Mark Boslet

Post No. 3: Harris Williams, Known for Keeping its Senior Bankers, Sees 7 MDs Leave Since 2009by Luisa Beltran

Post No. 4: Best and Worst of Ventureby Joanna Glasner

Post No. 5: SecondMarket Looking Into Cutting Out the Middleman (VC Firms)by Jonathan Marino

Post No. 6: A Case Study In What Not to Do: America’s Biggest Company Goes Down in Flames on Twitterby Connie Loizos

Post No. 7: One Institutional LP on VCs Buying Up Secondary Sharesby Connie Loizos

Post No 8: After Blippy, Pud Contemplates His Next Moveby Connie Loizos

Post No. 9: NY Shop To Close Fund V At Hard Capby Bernard Vaughan

Post No. 10: Apollo Shareholder Puzzle: Where Do You Fit In?by Gregory Roth

Millennium Adds Ex Bessemer Partner Ferrara

Millennium Technology Value Partners is to announce Wednesday that Alex Ferrara is to join the firm as a partner. Ferrara, formerly a partner at Bessemer Venture Partners, will have an initial focus on investments in Internet companies and businesses combining financial services and digital technology. PRESS RELEASE Alex Ferrara Joins Millennium Technology Value Partners as […]

Secondary Market Trading Predicted To Reach $10B In Three Years

Secondary trading in private technology companies will generate $10 billion in volume within three years, Millennium Technology Value Partners predicts. The secondary fund offered its forecast along with a review of recent investments. Clearly it sees a burgeoning market for secondary shares. Among the firm’s top pronouncements: A trillion dollars in public company capitalization will […]

Scoop: Industry Ventures Seeks $555M with 2 New Funds

Secondary market investor Industry Ventures is seeking $555 million in new money in a push that will more than double its capital under management.

The San Francisco firm hopes to raise the cash in two funds, according to documents filed with the Securities and Exchange Commission.

The first is a $400 million sixth fund, one document states. The second fund is a $155 million special opportunities fund, the second document shows. Both documents were filed Friday.

The firm, founded in 2000, presently manages $450 million in the hot secondary market place. Its focus is largely secondary shares of later stage companies with substantial revenue. The firm also makes direct investments in smaller venture partnerships.

Draper-Backed Xpert Financial To Launch Private Shares Exchange

Xpert Financial Inc., with high-profile backer Tim Draper behind it, is to unveil its private company stock exchange on Friday with a vow to revolutionize the secondary market. The San Mateo company, which changed its name this month from XChange, says it won approval from the Securities and Exchange Commission to operate an online electronic trading […]

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Improving Cash-on-Cash Returns

Limited partners in private equity funds can be a skeptical group when it comes to unrealized returns. And that can be a problem for the many general partners looking to come back in 2011 to replenish their war chests.

The increased focus on cash-on-cash returns became apparent to me at the annual meeting of a well-known growth equity fund. One of the fund’s star portfolio companies presented a detailed account of how it had grown revenue and EBITDA in a very difficult economy. The fund had already distributed roughly half of its cost basis in the investment and had written up the value of the company by threefold. During cocktails, while speaking with the representative from a mid-sized college endowment invested in the fund, I remarked that the company was still quite conservatively valued. The LP responded, “I’ll believe the valuation when I see the exit.”

Secondary Market Sales Have Doubled Since Last Year

The secondary market for private company stock appears to be keeping pace with the U.S. economy: a rebound is underway, but not as strong a bounce as might be expected. Transactions involving the direct sale of private company stock so far this year have at least doubled last year’s $2.4 billion volume, according to Laurence […]

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