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Venture-Backed IPOs Show Spirited Performance This Year

PeHUB took a look at this year’s 18 venture-backed IPOs to see where the action has been. Its analysis shows that companies trading above their IPO price greatly outnumber those that have sunk below it. The score is 12 above to six below.

Silver Spring Raises $30M, Filing Says

Silver Spring Networks has raised $30 million, according to a filing with the Securities and Exchange Commission. The smart grid communications company said the transaction took place on Feb. 21, but did not name its investors. The cleantech news site Greentech Media reports that the money came from Hitachi. The two companies formed a partnership […]

VCJ Cover Story: Biofuels Litmus Test

The IPO market has been quiet for a couple of months, and the Solyndra bankruptcy has cast a pall over the VC-backed cleantech sector. But that could change soon, as a total of 15 cleantech companies wait in registration for a chance to launch public offerings, including a handful of biofuels developers. Combined, they could […]

Foundation Capital to Seek $750M for Its Seventh Fund

Silicon Valley venture firm Foundation Capital is looking to raise a seventh fund totaling $750 million, sources tell peHUB. The fund, still in pre-marketing, will try to match the size of its 2008 vehicle, a $750 million fund that at the time dedicated itself substantially to cleantech investments. Foundation did not respond to peHUB’s requests […]

Slideshow: Welcome to the Family, Motorola!

Google’s latest and greatest acquisition is its $12.5 billion buy of Motorola, incorporating into its stable a major handset maker and patent library that transcends the company’s long-held advertising and search business model. But how many other sectors is the search giant planning to enter? Well, just take a look at Google Ventures’ portfolio, and […]

Publicly Traded GSV Capital Acquires New Stakes in Five VC-Backed Startups

GSV Capital, a closed-end, publicly traded investment fund that’s been snapping up stakes in venture-backed private companies, announced today that it has recently acquired share in five companies: Bloom Energy, Chegg, Gilt Groupe, Silver Spring Networks, and Serious Energy. Woodside, Calif.-based GSV went public in April of this year. Since then, it has also acquired […]

Top 10 Blog Posts this Week focus on CalPERS CIO’s Comp, How Avalon Got into the Zynga Deal and a Bunch of Early Stage Funds Being Raised

Want to catch up on the blog posts that your peers found most interesting on peHUB this week? Here are the top 10 posts written by peHUB and Reuters staffers that garnered the most pageviews from regular readers from July 4 to July 8. Hot topics included CalPERS’s Chief Investment Officer Joe Dear’s compensation, how little-known Avalon Ventures got into the Zynga deal, a wave of new early stage funds being raised, Silver Spring filing for an IPO and lots more.

1. Dear Joe Dear: What Do You Make at CalPERS?, by Gregory Roth
2. Avalon Ventures: the Low-Flying Firm About to Make a Billion Bucks on Zynga’s IPO, by Connie Loizos
3. Report Finds 127 Early Stage Funds Now Being Raised, by Mark Boslet
4. Solamere Exec Helps Lead Romney Fundraising Effort, by Bernard Vaughan
5. Silver Spring Networks files for IPO of up to $150M, by Reuters
6. Aussie Contact Helps NY Firm Flip Company In One Day, by Bernard Vaughan
7. TALK BACK: What’s Going on in China?, by Jonathan Marino
8. Carlyle in Talks to Buy Energy Capital Partners, by Reuters
9. Fears Of SEC Registration Disappear, But Venture Firms May Face New Record Keeping Demands (subscription required), by Mark Boslet
10. Truly Quick: True Ventures Nears Final Close on $200M Fund, by Jonathan Marino

Silver Spring Networks files for IPO of up to $150M

Silver Spring Networks Inc filed with the Securities and Exchange Commission on Thursday to raise up to $150 million in an initial public offering of its shares. In an S-1, the company, which provides networking platform for smart grids, did not disclose the number of shares it intended to sell or their expected price. The […]

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Slideshow: The Cleantech Companies Best Positioned to Go Public

Cleantech IPOs may be gaining momentum.

Solar plant developer BrightSource Energy filed what is certain to be an explosive initial public offering last week. A couple months earlier biochemical maker Gevo launched its IPO to what proved to be a warm reception. Experimental algae-to-fuel company Solazyme is waiting in the wings.

Which company will be next? In November, Venture Capital Journal published a list of the most likely and lucrative cleantech IPOs of 2011. At the top of our list was BrightSource, so we are off to a good start.

Watch our slideshow to see the other six cleantech companies VCJ believes have a very good shot of going public this year. Our investment data comes from Thomson Reuters, publisher of this blog.

Scoop: Former Foundation GP Grosser Raising $210M Fund

Former Foundation Capital General Partner Adam Grosser is raising a $210 million fund and apparently having some success, peHUB has learned. Grosser — who for the past nine years has focused on cleantech investments — set a $210 million target for a venture fund in a December 30 filing with the Securities and Exchange Commission. […]

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A123 Systems and the Public Market Rollercoaster

Yesterday, Dan reported 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).

Silver Spring Raises $100 Million

Silver Spring Networks, a Redwood City, Calif.-based smart grid networking company, has raised $100 million in fifth-round funding. Return backers include Google Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers and Northgate Capital. The company previously raised around $167 million.

Investors Eye Top Startups as IPO Market Awakens

SAN FRANCISCO (Reuters) – Investors, encouraged by a growing number of acquisitions and public floats in the past few months, are keeping a close eye on a coterie of promising startups in Silicon Valley. An informal poll of venture capitalists and others pointed to six privately held companies as the ripest for acquisition or readiness […]

Silver Spring Networks Raises $75 Million

Silver Spring Networks, a Redwood City, Calif.-based provider of smart grid technology solutions, has raised $75 million in new VC funding. Kleiner Perkins Caufield & Byers led the round, and was joined by return backers Foundation Capital, JVB Properties and Northgate Capital. A portion of the $75 million has been reserved for “strategic partners.” The company had previously raised over $90 million.

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