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Blackstone Compensation Revealed

By Dan Primack — 11 years ago

The Blackstone Group just filed another amended S-1 for its upcoming IPO, in which it disclosed plans to sell around 133.33 million common units at between $29 and $31 per unit. This would give Blackstone a market cap in excess of $33.62 billion, if it were to price at the top of its range. But […]

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Friday Document Dump

By Dan Primack — 11 years ago

Just cleaning off the desktop… * Thomson Financial has published two short reports of interest. The first one is about private equity investment in the biotech sector, and how both VC and buyout firms have significantly increased their recent investments. The second is about how strategic buyers actually pay higher premiums for public companies than […]

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Who Is Your Customer?

By Dan Primack — 11 years ago

I ventured outside the home office yesterday to have lunch with an out-of-town VC, at the picnic-tabled Barking Crab on Fan Pier in Boston. Be forewarned that if you ever go out to lunch with me, that’s probably where you’ll end up. Great place, but the shoulder-to-shoulder lunch crowd wasn’t terribly conducive for sharing gossip. […]

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Benchmark Weans Europe

By Dan Primack — 11 years ago

Benchmark Capital Europe is no more. Long live Balderton Capital. The UK-based venture shop announced today that it is spinning out as an independent entity, seven years after being formed by its Silicon Valley namesake. It’s really a rebranding more than anything else, as Benchmark Capital Europe was mostly antonymous to begin with. It never held regular […]

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Ex-Buyout Pro Sues Borat

By Dan Primack — 11 years ago

I had always assumed that if someone from Carlyle Group was to sue a filmmaker, the target would be Michael Moore. But I was wrong: It’s Borat. Actually, it’s an ex-Carlyle employee – a former low-level drone named Jefffrey Lemerond – who was probably still working for the firm when he ran into Borat on a New York […]

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Volunteering with BizWorld

By Alexander Haislip — 11 years ago

I got a chance to volunteer at the Carden El Encanto Day School in Santa Clara as a BizWorld teacher Wednesday and loved it. Tim Draper invented BizWorld in 1993 to explain his job to his daughter. The program teaches grade-schoolers about entrepreneurship, product design, manufacturing, marketing, sales, revenue, profit, equity, pitching VCs, patents, acquisitions […]

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A Whole New Ballgame

11 years ago

Yesterday I attended the ACG M&A Conference in Boston, and was  looking forward to the luncheon comments of Michael Lewis. His previous book – Liar’s Poker – was an interesting read and I’ve suggested it to more than a few folks who wanted to know what investment banking would be like if they jumped in as […]

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Wednesday Warblings

By Dan Primack — 11 years ago

Wednesday Warblings The sun is shining, yet another round of premature presidential debates are over and the ACG Boston Growth Conference is underway just a few blocks away from my spacious cubicle (if you advertise, I will shill). In other words, it’s time for some Wednesday Warblings. A real grab bag today, as we haven’t […]

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Day in the VC Life

By Dan Primack — 11 years ago

This has apparently been floating in the email ether for a while (note the 2004 election reference), but is nonetheless worth passing on. No idea who wrote it… West Coast Biotech VC daily calendar: 5:45am – Alarm clock. Pick up Blackberry from nightstand, fire off an email to portfolio company CEO to demonstrate “round-the-clock” vigilance. Go […]

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Trimaran Grasps At Funds

By Dan Primack — 11 years ago

When we last discussed Trimaran Capital Partners, it was in the context of canceled fundraising and the resignations of several key partners. Things looked bleak. Very bleak. But a ray of sunshine seemed to emerge this morning, when LBO Wire reported that Trimaran had “assembled several hundred million dollars from at least two of its […]

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My SOX Testimony

11 years ago

What follows is the prepared statement I gave at a House Small Business Committee hearing yesterday, on the subject of proposed reforms to Sarbanes-Oxley. Specifically, I wanted to talk about whether or not the new standards would lower compliance costs for small companies: Chairwoman Velazquez, Ranking Member Chabot and Members of the Committee, my name is […]

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Your Daily Dose of Blackstone

By Dan Primack — 11 years ago

The Blackstone Group has abandoned plans to book its profits at the time of deal close, according to the massive S-1 amendment it filed yesterday. And the entire buyout industry breathes a sigh of relief. It’s not that the plan was considered illegal (it wasn’t), but rather that it opened up an enormous can of […]

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Truth in Fake Advertising

By Dan Primack — 11 years ago

Sure it’s a parody, but you can’t tell me it doesn’t hit kind of close to home. In fact, real close. The first two “interviews” take place in front of Thomson Financial’s New York offices.[youtube=http://youtube.com/watch?v=y6rswyZj-Ls home=true]

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5 Questions: Bob Forlenza of Tudor Ventures

By Dan Primack — 11 years ago

Tudor Ventures today announced that it has closed its third fund with $262 million, as first reported last month by my colleagues over at PE Week. So we’ve got 5 Questions for Bob Forlenza, founding parter of Tudor Ventures: 1. Where exactly does Tudor Ventures fit within the Tudor universe? You obviously have the hedge fund activities […]

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Amp’d Loses VC Directors

By Dan Primack — 11 years ago

Amp’d Mobile should be in the midst of its first bankruptcy hearing right now, so let’s take a moment to clear up an outstanding issue. In its initial report on the company’s bankruptcy filing, MocoNews mentioned that two of the company’s investor board members had resigned. But it didn’t provide any specific information. Now it […]

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CalPERS Gets Healthy

By Dan Primack — 11 years ago

CalPERS has just unveiled a $700 million investment program in the U.S. healthcare space. Some of this might go to biotech startups, but the real focus seems to be on improving the efficacy of the overall healthcare market, which CalPERS’ CIO Russell Read called “fragmented and inefficient.” Under terms of the deal, CalPERS will initially commit […]

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Mayfield’s Chaddha @ TiECon

By Dan Primack — 11 years ago

Mayfield has opened an office in Mumbai, in order to continue an India investment strategy that previously had been run out of Silicon Valley by partners Navin Chaddha and Robin Vasan. Chaddha was recently interviewed at TiECon 2007, and shares some views on the Indian market: [youtube=http://youtube.com/watch?v=EROGxnTgJ4g home=true]

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VCs re-up SocialText

By Alexander Haislip — 11 years ago

SocialText, a startup that makes collaborative wiki platforms for enterprises, has raised $3 million toward a $6.5 million Series C venture financing, according to a regulatory filing. The company is backed by Draper Fisher Jurvetson, SAP and the Omidiyar Network, from which it has already raised $3 million in its Series B. Other backers include […]

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