CalPERS. private equity, pension fund, Ted Eliopoulos, CIO

CalPERS to begin interviewing CIO candidates in August

California Public Employees’ Retirement System in August will begin interviewing candidates to succeed Chief Investment Officer Ted Eliopoulos, with the aim of hiring a new CIO before year-end. Eliopoulos said in May that he would step away from the $356.5 billion pension fund this year as family reasons required him to relocate to the East Coast. […]

VCJ Top 10 Venture Deals

Top 10: June venture deals are a mixed bag in various tech sectors

While it’s broadly true that deal count is dropping and equity invested is increasing in venture deals with U.S. based companies, that trend wasn’t true for all of the top business sectors that saw venture deals in June 2018. Overall, June saw 356 venture deals with U.S.-based companies, with total disclosed equity invested at $7.9 […]

venture capital, Sofinnova Ventures, SEC, law, legislation, pay to play

SEC fines Sofinnova Ventures for pay-to-play violations

The SEC ordered Sofinnova Ventures to pay a $120,000 penalty for violating pay-to-play laws, which prohibit investment advisers from providing paid services to government entities within two years of making contributions to elected officials or candidates who can influence the selection of investment advisers. Sofinnova offered a settlement, which the SEC accepted, the order says. The […]

LACERS, Los Angeles City Employees Retirement System, TorreyCove, private equity, pension fund

LACERS picks TorreyCove as PE consultant, capping year-long RFP process

Los Angeles City Employees’ Retirement System awarded a five-year contract to TorreyCove Capital Partners for private equity consulting services, capping a lengthy and tumultuous search for its new consultant. The system’s board of administrators voted 6 to 1 to approve the contract at its July 10 meeting, three sources familiar with the matter said. Board Member […]

VCJ PitchBook Data NVCA Q2

Venture continues to consolidate into fewer, bigger deals in H1 2018

U.S. venture investing in the first half continued the trend of consolidating capital into fewer and larger deals, the latest quarterly Venture Monitor report from PitchBook and the National Venture Capital Association shows. Venture firms invested $57.5 billion into 3,912 U.S.-based companies across 3,997 deals in the first half. If it continues at this pace, venture […]

VCJ Venture ICO Patents

ICO issuers are mysteriously absent from the early blockchain patent rush

Corporations, banks, universities, tech companies, venture-backed startups and individual inventors have been among the first applicants to the U.S. Patent and Trademark Office for patents on technology related to blockchain and cryptocurrency. But one group of applicants is largely absent from the early data. Initial-coin-offering issuers, which CoinDesk reports have raised nearly $14 billion of funding, account for just […]

VCJ Venture Performance LPs

Global venture returns stayed strong in Q1, while time to liquidity fell: report

Venture funds’ first-quarter investment multiples dipped from the record Q4 figures but stayed strong. That’s according to PE-software provider eFront’s report on first-quarter returns, risks and liquidity of venture funds, released this week. Venture funds recorded Q1 TVPI multiples of 1.45x, down from 1.49 in fourth-quarter 2017. At the same time, selection risks are dropping, […]

Abbott Capital Private Equity, OCERS, Orange County, pension fund

Abbott Capital Private Equity leads Q4 distributions at OCERS

The market value of Orange County Employees Retirement System’s private equity portfolio increased 2.9 percent in Q4, to $1.4 billion from $1.36 billion in Q3. That’s according to a preliminary performance update by TorreyCove Capital Partners presented at the system’s investment committee meeting on June 27. In addition, the system’s PE portfolio has generated a […]

VCJ ICO Bitcoin Token Venture Fund

Andra Capital seeks $1 bln token sale as it’s the latest firm to put venture on the blockchain

Andra Capital is hoping to raise $1 billion in its offering of Silicon Valley Coins, asset-backed security tokens that represent ownership interest in the Andra Fund, the firm announced on Monday. The fund plans to invest in late-stage private technology companies and early-stage blockchain companies. The San Francisco-based firm has already raised $500 million of […]

Paul Martino

Bullpen Capital raises nearly $140 mln to continue post-seed investing

San Francisco-based Bullpen Capital has raised an oversubscribed $140 million fourth venture fund to continue its thesis of investing in companies at the post-seed stage. The firm is also introducing a one-time “playoff” fund to make pro-rata investments in portfolio companies from its first three funds. Fund IV, which was targeted at $125 million, closed […]

VCJ Venture Veterans Fund Profile

Moonshots Capital, led by and investing in military vets, rockets from angel to venture

Kelly Perdew’s multiple chapters already include U.S. Army officer, entrepreneur, winner of Season 2 of “The Apprentice” and angel investor. Now, as managing general partner of Moonshots Capital, he’s helping guide the Austin firm through the transition from angel investment to making seed-stage venture deals. Perdew, 51, launched the firm in 2014 along with General Partner Craig […]

VCJ Fund

Jay-Z to launch venture firm with Walden’s Larry Marcus

Music producer and rapper Jay-Z has partnered with Larry Marcus, managing director of Walden Venture Capital, on a new venture fund called Marcy Venture Partners, according to California business filings. In addition to Marcus and Jay-Z, whose legal name Shawn Carter is listed, the filing includes Laurence “Jay” Brown Jr., who serves as CEO of […]

VCJ Venture Top 10s Deals

Top 10s: Software eats the venture world in May 2018

Venture investors poured less money into fewer deals with U.S.-based companies in May 2018 compared with the same month a year before, according to VCJ’s analysis of preliminary data from Thomson Reuters. In May 2018, $6.48 billion was invested into 321 venture deals with U.S. based companies, down from $6.57 billion into 441 deals in […]