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GE Plastics: Let’s Go Clubbing

By Dan Primack — 11 years ago

Goldman Sachs is not prohibiting club deals in the $10 billion auction for General Electric’s plastics unit. Moreover, it could care less about the sleepy Department of Justice “inquiry” into private equity collusion. Forgive my declaratives, but something needed to be said after the Wall Street Journal incorrectly published the following in yesterday’s edition (sorry for the delayed […]

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Lesson for 2007: Tech ≠ IP ≠ VC = Cashflow * Leverage Multiple (Bank$$$) = LBO = PE

11 years ago

Remember all those venture-backed companies that promised to turn dreams written on the back of napkins into real businesses (my erstwhile colleagues at Robertson Stephens earned many shiny nickels supporting those arguments)? As you PE professionals correctly predicted, most of them went under or were absorbed into more established entities.  However, the most amazing thing has happened over […]

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A Greener Golden Gate?

By Dan Primack — 11 years ago

Golden Gate Capital is running low on dry powder in its $1.8 billion second fund, and is hitting up LPs for a $600 million bridge vehicle (as first reported yesterday by LBO Wire). Why raise a small amount of interim capital instead of just raising Fund III? Because sources say that Golden Gate is going […]

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FoF Slowdown

By Alexander Haislip — 11 years ago

Fund of funds faced a tough time raising capital in 2006. Fundraising dropped 15% as 77 funds raised $20.8 billion during 2006, down from the 94 funds that raised $24.5 billion during 2005, according to Thomson Financial (publisher of PEHub.com). But a lack-luster reception for fund of funds isn’t the only thing plaguing the asset […]

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Acuity Mobile Gets $250,000

By Alexander Haislip — 11 years ago

Acuity Mobile, a startup based in Potomac Md. Building location-based advertising and applications for mobile phones, raised $250,000 of a $1 million investment round, according to a regulatory filing. The startup is founded by Barry Glick, the former CEO of MapQuest, Alan R. Sultan and Chuck Rieger. Its technology could allow advertisers to send rich […]

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Wiki Wetpaint raises $9.5M

By Alastair Goldfisher — 11 years ago

Wikis are no longer solely the domain of software developers who used the collaborative technology to write code. As evidence to that is the funding announcement today that Seattle-based Wetpaint has raised $9.5 million in Series B funding led by new backer Accel Partners and from existing investors Trinity Ventures and Frazier Technology Ventures. You can read the […]

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Quiz Time

By Dan Primack — 11 years ago

Can you name the former Pacific Corporate Group pro who just agreed to join Altius Associates? And no, it’s not Mike Russell (we’re looking for an unannounced hire)? First person to email me with the correct answer gets to write a Vox Populi post here at peHUB. This can include anything from a market analysis […]

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New PE Firm: PurePay

By Dan Primack — 11 years ago

A new year often is accompanied by new private equity firms, and 2007 looks to be no different. One of the latest is PurePay, a Columbus, Ohio-based firm focused on the payment industry. It raised $100 million for its inaugural fund from a handful of regional commercial banks, which believe PurePay’s industry focus and “acquire […]

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PE Firms Sued by Biomet Shareholder

By Mark Cecil — 11 years ago

A Biomet Inc. shareholder has sued four private equity firms — Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and Texas Pacific Group — and the company’s board of directors over a proposed $10.9 billion buyout. You can read the complaint here: Lawsuit against Biomet and Four PE Funds.pdf The lawsuit’s claims are typical […]

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Managing M&A Expectations (Updated)

By Dan Primack — 11 years ago

Now updated with ACG/Thomson press release and underlying data Last month, I asked PE Week Wire readers (become one here) to participate in the Bi-Annual ACG/Thomson DealMakers Survey. The official results come out tomorrow, but since everyone was so generous with their time, we got a sneak peak: Ninety-three percent of respondents (1,230 in all) believe that the current […]

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More Ethical: VCs or Bloggers?

By Alexander Haislip — 11 years ago

Wallstrip, an online business video blog, asks its investor Fred Wilson: “Do venture people have groupies?” It’s one of a series of silly, softball questions the show’s moderator, Lindsay Campbell, asks one of the investors in the company she works for. The questions aren’t objectionable in and of themselves, but asking them to an investor […]

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Fraudwall Raises $250K

By Alexander Haislip — 11 years ago

Fraudwall, a startup founded by Ron Conway and Jim Pitkow, raised $250,000 of a $1.5 million Series A investment round, according to a regulatory filing. Matt Marshall has more on the company, which is trying to stop clickfraud, but he reports the investment round to be in the millions.

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VC the Rx for Angelides

By Alastair Goldfisher — 11 years ago

Phil Angelides, last year’s wannabe gubernatorial candidate in California, is apparently starting his own venture firm, according to the San Jose Business Journal. Arnold Schwarzenegger crushed Angelides in the November election for governor by about a 17-point margin, but Angelides has told the Business Journal, as well as the Sacramento Bee, that this new venture of […]

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VCs, Thiel To Profit from IronPort Sale

By Alexander Haislip — 11 years ago

Venture firms rang in the New Year on a profitable note last week, after Cisco Systems announced that it would buy VC-backed network security provider IronPort Systems Inc. for $830 million in cash and stock. Profits from the acquisition will be shared among more than 12 venture firms and angel investors. Individual investors include Peter […]

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Garnett Staying Put

By Dan Primack — 11 years ago

This space reported last month that Terry Garnett was planning to move from Silicon Valley to London, while remaining a managing director with namesake firm Garnett & Helfrich Capital. The move caused a bit of stir among both existing and prospective limited partners (G&H is expected to raise its second fund this year), but most […]

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East Coast vs. West Coast

By Dan Primack — 11 years ago

Readers occasionally write in to accuse me of East Coast VC bias and, in particular, Boston bias. Specifically, they argue that I spend too much time focused on what’s happening in my backyard, while most of the most interesting/lucrative venture capital deals are happening about 3,000 miles to the West. And I plead no contest […]

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Will The Romney “Story” Matter?

By Dan Primack — 11 years ago

Well, it was bound to happen: I just got my first phone call from a reporter who wanted to know about Mitt Romney’s track record as a private equity investor. For context, please understand that the first time I ever heard of Mitt Romney was when he decided to run for U.S. Senate against Ted […]

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2007 PE Outlook

By Adrian — 11 years ago

Following an increasing trend in LBO volume in 2006 (Thanks to PE Week Wire/Buyout Magazine Data), 2007 should remain very active in terms of volume, geography (More Europe, Asia and Latin America?) and financial engineering scope. I am particularly interested in the effect of global trends such as the euro/dollar performance in ’06 that could see […]

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