You are browsing the archive for TCV - peHUB.

Ten Hot Stories: New Mountain Loses Partner, Moore Capital Founder Eyes Debt Fund and Why We Need a Mygdon List

Posted on: May 24, 2013 by Lawrence J. AragonNo Comments »

Trending on peHUB this week: New Mountain Capital, Moore Capital, MC Credit, the Midas List, Great Hill, Solamere Capital, Tumblr, TCV, Iconiq Strategic Partners, Union Square Ventures, Spark Capital, and job openings at Goldman Sachs, Microsoft and Thomvest.

Slideshow: Bring on the 2012 IPO Candidates

Posted on: January 24, 2012 by Joanna Glasner1 Comment »

The market for venture-backed IPOs has been pretty dead so far this year. But based on new filing activity, it looks like there’s some optimism things will improve. At least six venture-backed companies have filed to go public since the start of the year, in sectors ranging from enterprise software to semiconductors to car rentals. [...]

Avatar of cnolan

by cnolan

Will Griffith Leaves TCV

Posted on: January 4, 2012 by cnolanNo Comments »

Will Griffith has left venture firm Technology Crossover Ventures, peHub has confirmed. Griffith joined the firm in 2000 and became a general partner in 2003. He worked with portfolio companies including 2Wire, Adknowledge, MoneyExpert, Orbitz, Tiny Prints, Travelport and Whitepages. Before joining TCV, Griffith was an associate at The Beacon Group, a private equity firm that was acquired by JP Morgan Chase in 1999. The news was first reported by Fortune.

Netflix Raises $400M, Half from Debt Deal with Technology Crossover Ventures

Posted on: November 22, 2011 by reuters-newsNo Comments »

Photo by Robert Galbraith, Reuters

(Reuters) – Video rental and streaming company Netflix Inc. said late on Monday that it raised $400 million in fresh capital by selling convertible debt to long-time backer Technology Crossover Ventures (TCV) and stock to funds managed by T. Rowe Price.

Netflix has lost about two-thirds of its market value since the company’s shares touched a high of almost $300 in July.

The company, which had $159.2 million in cash and cash equivalents at the end of September, has struggled to renegotiate video content deals. It has also lost subscribers and warned of a first-quarter loss.

The $200 million note sale and the $200 million stock sale will help the company replenish its war chest.

When Netflix Chief Executive Reed Hastings “said, ‘Hey, I’m going to double content spend in 2012,’ we couldn’t see how it could happen,” UBS analyst Brian Fitzgerald told …

One Institutional LP on VCs Buying Up Secondary Shares

Posted on: March 29, 2011 by Connie LoizosNo Comments »

Recently, I asked a number of LPs the question: When VCs buy secondary shares in hot companies like Facebook and Twitter, why doesn’t it infuriate them? After all, LPs have historically chosen to invest in VC because it is the only way to gain access to private companies with huge growth potential. The secondary market, on the other hand, provides the same capability to nearly anyone with enough zeros in their bank account. I also asked the LPs why they’re willing to pay management fees for the service, when seemingly, they could invest in the companies directly.

I wound up writing a column on the topic, but I wasn’t able to use much of the feedback of one very thoughtful and high-profile institutional LP, who asked not to be named. For readers interested in the perspective of the LP — an investor in pretty much every so-called top-tier fund –here’s what I was told:

Secondary Deals Beg the Question: What Are LPs Paying For, Exactly?

Posted on: February 10, 2011 by Connie Loizos7 Comments »

Yesterday, eyebrows across Silicon Valley shot up at the news that Andreessen Horowitz invested $80 million for secondary shares of Twitter. It’s the second time in two months the firm has bet a colossal chunk of its three-month-old, $650 million fund on secondary shares. In November, the firm also acquired what co-founder Ben Horowitz calls a “high volume” [...]