VCJ Venture Postmates IPO Guest Column
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Postmates seeks to deliver in its public debut

By Alejandro Ortiz, SharesPost Postmates is entering the final leg of its journey to an IPO. The company, which operates at the crossroads of last mile delivery and the sharing economy, recently disclosed that it confidentially filed for a public offering with the Securities and Exchange Commission. Founded in 2011 by Sam Street, Sean Plaice […]

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Ebitda adjustments in restaurant deals: ensuring fair outcomes

By Jordan Myers, Alston & Bird The framework for defining EBITDA in middle-market credit agreements is often portable from one industry to another. But the one-size-fits-all approach does not work for the restaurant industry. In credit agreements, understanding industry-specific adjustments is critical to effectively negotiating EBITDA and related definitions and achieving fair outcomes for borrowers […]

VCJ SharesPost Slace IPO
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Slack’s bid to become a public decacorn

By Rohit Kulkarni, SharesPost Slack recently announced that it has filed confidential documents for an IPO with the Securities and Exchange Commission. While the company’s prospects look strong, several big questions loom for the messaging and collaboration platform. When will the 10-year-old company reach profitability? Can Slack continue to innovate and thus remain the market […]

Michele Kovatchis, Antares Capital, private equity
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Top 5 factors to consider before the next downturn

By Michele Kovatchis, Antares Capital It’s been a quiet time for workout teams, with the U.S economy still in its longest expansion since WWII. When the next downturn will hit is unknown, but lenders, borrowers and investors should consider some key factors likely to affect the next down cycle. Some have new dynamics and implications […]

Wayne Shiong, China Growth Capital, venture capital, China, space, aerospace, spacecraft
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Investing in China’s space dream

By Wayne Shiong, China Growth Capital On Jan. 3 China marked space history by landing the robotic spacecraft Chang’e-4 on the far side of the moon. With government support, China’s space industry has made remarkable achievements after 60 years of hard work. And China’s commercial space industry, particularly the commercial launch market, is an investment […]

VCJ Israel Report AI
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As AI evolves, so must VC investment teams

By Lu Zhang, Fusion Fund To say artificial intelligence is old news would be an exaggeration, as we’ve only just started to see its implications: It’s transforming industries across the business landscape, and PricewaterhouseCoopers predicts AI will grow the global economy by $15.7 trillion over the next 12 years. Needless to say, venture capitalists should be investing […]

Dan Shoenholz, Peter Gates, EY-Parthenon, healthcare, private equity
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Forming a healthy relationship between PE and healthcare

By Dan Shoenholz and Peter Gates, EY-Parthenon, Ernst & Young LLP In the healthcare sector, private equity is often viewed as a financial sponsor with limited impact on improving clinical outcomes and patient satisfaction. In fact, some founders and physicians are concerned that PE may even hurt the patient-care effort. Often overlooked, however, is the […]

private equity, infrastructure, Africa, Surya Mohan, Endeavor Energy Holdings
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The case for a long-life African infrastructure fund

By Surya Mohan, Endeavor Energy Holdings The African-infrastructure-investment landscape has been full of promise for several decades. There is no shortage of intellectual voices collectively pointing to the positive financial, economic, social and environmental impacts that can come from infrastructure investment on the continent. Despite this, private infrastructure investments in Africa remain far short of […]

Acertitude, Kevin O'Neill, private equity, venture capital, management, CFO
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A playbook for making a critical portfolio-company hire: the CFO

By Kevin O’Neill, Acertitude While “greed…is good” was the manifesto of Gordon Gekko, the iconic corporate raider from “Wall Street,” “transformation is king” is the proclamation of today’s private equity leaders when driving portfolio company value. Gone are the days when a sponsor buys a company, makes little or no change in the business strategy […]

private equity, elearning, education, MHT Partners, Alex Hicks
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Skills shortage fuels corporate e-learning and PE interest

 By Alex Hicks, MHT Partners Remember when a college degree was a ticket to a long, successful career? Not anymore. These days, too many students emerge from college lacking the real-world skills that employers are looking for in the digital economy. This growing skills gap presents a major challenge to companies as they compete for […]

VCJ VC Valuation Unicorns
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The rise of unicorns: a funding event, not a destination

Paul Asel, NGP Capital On Oct. 9, when Brex announced its $125 million Series C financing, Business Insider proclaimed breathlessly, “credit card startup joins unicorn club months after launching.” Since the term “unicorn” was first applied to technology companies exceeding $1 billion valuations in 2013, a cottage industry has emerged tracking the rise of these […]

VCJ Venture SharesPost Guest Column
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Chinese mega-unicorn Tencent readies IPO as music wars heat up

By Rohit Kulkarni, SharesPost After a two-month delay, Tencent Music Entertainment’s IPO is back on track. This much-anticipated public offering is likely to re-ignite the battle with Spotify for global supremacy of streaming music. Tencent (TME), the Chinese leader in music streaming, initially filed to go public in October. But TME, a subsidiary of Chinese […]

Jeffrey Mittleman, Jenna Schapiro, Holland & Knight, private equity, healthcare, law, regulation, Medicare, Medicaid
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Why regulatory due diligence is essential in healthcare PE transactions  

By Jeffrey Mittleman and Jenna Schapiro, Holland & Knight Your target is a physician or dental practice, an ambulatory surgery center, a medical device manufacturer, a pharmacy, a dialysis company, a durable medical equipment company or perhaps even a biotech or pharmaceutical manufacturer. You have been eyeing a transaction in healthcare or life sciences and this […]

Fred Crawford, Ted Bililies, AlixPartners, private equity
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Managing the sponsor, CEO and CFO triangle: rules for success

By Fred Crawford and Ted Bililies, AlixPartners We’ve all seen relationship triangles before — in film they make for great drama. But what about in business? If you’re a PE sponsor, one of the most critical relationships you’ll encounter is that among you, the portfolio company CEO, and the portfolio company CFO. Like all triangles, […]

VCJ Venture AI Healthcare
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AI is an inevitable force coming to healthcare.

By Mike Geldart, Excellere Partners The declaration was radical and to the point:  “Eighty percent of what doctors do should be and will be done by machines using AI.” As legendary Silicon Valley venture capitalist Vinod Khosla uttered those words at a recent healthcare conference, I looked around the room full of doctors, healthcare executives, […]

Bass Berry & Sims, Angela Humphreys., law, healthcare, private equity
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PE’s record in healthcare worth defending

By Angela Humphreys, Bass, Berry & Sims PLC Private equity has had an overwhelmingly positive impact on healthcare. But after a decade of reinvention in the industry — with no sign of letup — even those interested in finding new ways to deliver care show signs of change fatigue. In this environment, critics wedded to the status […]