Mark Boslet
No shortage of big news today. Let's start with the biggest: Microsoft chief of 13 years Steve Ballmer announced he would depart within 12 months, all but acknowledging the company's waning influence in a post PC world.
Competing against a rising tide of public equities is tough. But private equity LPs aren’t dismayed by the performance they are seeing. The majority feels the performance of investments has met or exceeded expectations.
Sierra Ventures said it appointed Al Campa as a partner at the firm. Campa will work with portfolio companies on strategy, contribute to deal sourcing and foster collaboration between portfolio companies and the firm's council of Fortune 1000 CIO advisors.
Almaz Capital said it expanded its Silicon Valley team with the addition of a managing director and investment director at its Menlo Park offices. The firm appointed Ross Hangebrauck as a managing director and Daniil Stolyarov as an investment director.
Silver Lake has raised $653.5 million for its Kraftwerk cleantech fund even as it has reined back the fund’s target to $750 million, according to a filing with the Securities and Exchange Commission.
PivotNorth Capital has set out to raise a second fund similar in size to its first. The micro VC firm run by former Sequoia Capital Partner Tom Connors made its efforts known in a filing with the Securities and Exchange Commission.
The online site for students, Chegg, filed for a $150 million IPO. According to the company's Form S-1 submitted to the Securities and Exchange Commission, Chegg had revenue of $116.9 million in the first six months of 2013 and a net loss of $21.2 million. Its major venture investors include Kleiner Perkins Caufield & Byers, Gabriel Ventures, Foundation Capital and Insight Venture Partners.
Welcome to the mid August summer doldrums, when the news flow slows down and the financial world slips out of the office for a badly needed vacation, including Wall Street traders.
The Foundry Group has raised $218 million toward a $225 million Foundry Group Select Fund, according to a filing with the Securities and Exchange Commission. The filing is date Aug. 5 and lists the four Foundry managing directors: Brad Feld, Seth Levine, Ryan McIntyre and Jason Mendelson. An additional $7 million remains to be raised.
Responding to the increased complexity of cyber security investing, Allegis Capital has added four venture partners.