private equity, stocks

Private multiples are ascendant. Is this the new normal?

By Hugh MacArthur, Bain & Co Valuation multiples move up and down. Yet for the past 30 years, the average multiple of Ebitda paid for public assets has almost always topped that paid for private assets. In fact, during only three periods historically did private multiples generally exceed the public average: during the “Barbarians at […]

private equity, marketing, branding, CompleteSpectrum, Matt Stein

The do’s and don’ts of executing a rebrand

By Matt Stein, CompleteSpectrum From aligning brand messaging during a merger or acquisition to embracing new market opportunities, a PE fund might have a number of reasons to rebrand a portfolio company. Regardless of the motivation, you must consider how others have fared when executing a rebrand and think about what will work best for […]

VCJ Venture

International startups can speed the growth of entrepreneurial ecosystems

By Matthew McCooe, Connecticut Innovations Hypergrowth startups are essential for a community’s transformation to an innovation hub. Getting the companies up and running, however, can be a painfully slow process. Waiting for new companies to emerge from a garage or a university is the traditional way to grow the innovation landscape. Given that the U.S. […]

technology, software, SaaS. private equity, merger, m&a

Making money when every deal is a tech deal: managing the buzzword blizzard

By Scott B. Meyer, Glenview James LLC Time was we had tech deals and non-tech deals. But the world has changed, and today, as Kewsong Lee of Carlyle Group puts it, “every deal is a tech deal.” Even old-school industries are confronting digital transformation. This change has particularly hit home in private equity. Due diligence is the […]

KinderCare, Tom Wyatt, Toys `R' Us, children, day care, retail, private equity

Two sides of the private equity coin

By Tom Wyatt, KinderCare News reports lamenting the loss of Toys ‘R’ Us this holiday have brought the debate over the perils of private equity top of mind. For us at KinderCare, the demise of the former retail giant stands in stark contrast to our story with PE. While there are similarities between the two […]

VCJ venture Guest Column Entrepreneur Ego

To survive a downturn, take the bad ‘E’ out of Entrepreneur

By Tim Schigel, Refinery Ventures The mid-1990s through the early 2000s were an exciting time for entrepreneurs and investors as prices for internet startups soared. Then the bottom fell out of internet stocks and the dot-com bust reverberated through the nation’s economy. In retrospect, it was probably a terrible time to start up a company […]

VCJ Venture Postmates IPO Guest Column

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 […]


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

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

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

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

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

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

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

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

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 […]