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Signs of Life at Sevin Rosen

By Alexander Haislip — 12 years ago

Sevin Rosen Funds, a venture firm that declared last fall that declared the model for early stage investing was broken, has recently committed capital to three startups in California. The firm, which has operations in California and Texas, re-upped its commitments to security company SolidCore Systems, which in late April raised a $10 million Series […]

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Private Equity — Investing in America’s Future?

By Amanda Duckworth — 12 years ago

Just as private equity dominates news headlines today, the masters of the Wall Street universe 20 years ago were an investment bank (Drexel Burnham Lambert) and a form of debt with which the firm had become inextricably linked (the junk bond). They were fabulously successful for nearly 10 years, but Drexel’s high yield empire didn’t […]

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Baucus: No Tax Increase (Yet)

By Dan Primack — 12 years ago

If there’s one thing that keeps private equiteers up at night, you’d think it would be the prospect of a debt market collapse. But judging by some recent cocktail party kibitzing, the real worry is that federal lawmakers will change their tax treatment of carried interest from capital gains to ordinary income. Oh the horror […]

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Alexis Gets Fired

12 years ago

Dear Readers (all 3 of you): Rather than waiting for Dan to fire my ass, I am voluntarily quitting blogging as I think I’m just too superficial and pollyanna to want to deal with the type of ire that some of my “random walks through Alexis’ brain” have provoked. No worries – my friends will […]

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Eyeballs are Back

By Alexander Haislip — 12 years ago

News Corp has bought Photobucket, Valleywag reports. Lehman Brothers, the startup’s investment bank, was reportedly looking for a valuation north of $300 million. UPDATE: Michael Arrington puts the deal value at $250 million. Photobucket had 17 million unique monthly users when it was acquired and had $6.3 million in revenue during 2006, according to reports. […]

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Bunker Buttresses Patina

By Dan Primack — 12 years ago

Sometimes a strategic just can’t get it done alone. That may be one of the snapshot lessons from today’s announcement that Smith & Wollensky (Nasdaq: SWRG) has agreed to be taken private for $94.6 million. The upscale steakhouse operator had originally agreed to be acquired for $9.25 per share by Patina Restaurant Group, but then […]

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Chatting with Anders @BIO

By Dan Primack — 12 years ago

I just spent a few minutes with Anders Hove, a healthcare- focused venture capitalist with Venrock. Neither he nor I have spent much time yet in the exhibitioner hall, but Anders did point out that this convention is about learning internal biotech market issues — not about identifying promising new companies (although there are certainly a […]

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[email protected]

By Dan Primack — 12 years ago

Greetings from BIO 2007, an international convention of biotech movers, shakers and wannabes. The event is technically just a few blocks away from my South Boston office, although the actual registration table was at least another mile away (didn’t realize how huge this building is from the outside). Anyway, expect pretty light posting for the first part […]

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Influence Peddlers

By Dan Primack — 12 years ago

Time Magazine might not consider George Bush to be one of the world’s 100 most influential people, but it does give spots to both buyout titan Steve Schwarzman (Blackstone Group) and venture capital god Mike Moritz (Sequoia Capital). Time uses Schwarzman as a proxy for the entire leveraged buyout industry, which it describes as “a […]

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The Reuters Rumors

By Dan Primack — 12 years ago

Monday Update: Thomson confirmed that it has made a “preliminary approach” for Reuters. I’ve received dozens of emails this morning asking if the rumors are true that Thomson Financial has offered to buy Reuters. My official response – per internal dictate – is that I have no response. My unofficial response is that I have […]

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Someone’s At the Gate

By Amanda Palmer — 12 years ago

Europe’s listed companies are wising up to the tactics used by private equity managers and applying them to their own business to avoid buyouts. One idea that is being touted by investment bankers to their clients is that of a “multi-layered” or “multi-pronged” corporate financing structure. Bankers say that it is outdated to look at […]

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What Would Goldman Do?

By Dan Primack — 12 years ago

In late March, Goldman Sachs distributed some institutional client research detailing its leveraged buyout model. I only got leaked a copy yesterday, so apologies for the tardiness. The 46-page document is about half boilerplate and marketing materials for an interactive LBO return calculator, which apparently is accessible to Goldman clients. The rest, however, reads like […]

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Digg Flap Exposes Cracks

By Alexander Haislip — 12 years ago

Users of Internet news aggregator Digg flooded the site with links to a code that allows people to crack the copyright on HD-DVDs this week—a move that sent shivers down the spines of investors in the digital media space. VCs have poured over $215 million into news-related startups over the last two years, a sector in […]

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PE Performance Matches the Hype

By Dan Primack — 12 years ago

Private equity has historically outperformed the S&P 500, but critics often argue that the advantage disappears once fees are taken into account. In other words, it’s a narrow edge that might not justify the risk. Over the past year, however, private equity firms have been doing their darndest to remove risk from their equations — […]

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My Conference is Bigger Than Yours

By Lawrence Aragon — 12 years ago

VCs have always frequented conferences. Now they’re getting into the conference business themselves. Sequoia Capital is teaming up with TechCrunch to do a conference (Jason Calacanis is spearheading it). Now comes word from Matt Marshall that David Hornik of August Capital (pictured on the cover of VCJ) is organizing a nonconference – conference in Hawaii […]

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No Choice But to Sell

12 years ago

“Sell.” This is often my first thought when I see take-private offers announced (strategic or financial), and that was again the case with this week’s big deal. In an offer clearly designed to discourage any competition, News Corp. bid for Dow Jones the way the Rangers bid for A-Rod. It made me think of the old […]

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U.S. Foodservice Deal Details

By Dan Primack — 12 years ago

Royal Ahold NV today announced that it has (finally) agreed to sell its U.S. Foodservice distribution unit to KKR and Clayton, Dubilier & Rice for $7.1 billion. What it didn’t announce, however, were any other financial details. So here they are: The total transaction price includes $2.6 billion in equity and $4.5 billion in funded debt, […]

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Fred Anderson = George Tenet?

By Dan Primack — 12 years ago

Is Fred Anderson the financial equivalent of George Tenet? I think he might just be. For the uninitiated, Anderson is the former Apple CFO who currently is a managing director with Elevation Partners. He recently agreed to pay back the SEC a few million dollars to settle an options backdating suit (without admitting guilt), and […]

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