Japanese Venture – A New Frontier?

By Jon Nieman — 11 years ago

Recently, I have been introduced to the prospect of early-stage venture capital in Japan. A lot of attention (and money) has been focused on China and India – but what about Japan? Japan is the world’s second largest economy and is home to powerhouse technology companies such as Sony, Toshiba, Fujitsu, NTT, Panasonic, Mitsubishi, Toyota, […]

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Betting on Cleantech

11 years ago

The venture capital business typically alternates between cycles of greed and fear, but will be absent in the emerging clean and green technology sector as these normally opposing emotional forces become synchronized for long periods. As the scientific evidence of global warming and its consequences become clearer, we will become increasingly fearful of overheating the […]

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MySpace & YouTube Are Tools, Not Gold

11 years ago

Bambi Francisco wrote several months ago: “Those who dig for gold rather than those who supply the picks and shovels make the most money. That observation holds true if you just take a look at MySpace and YouTube.” Separately, she notes that Steve Case made a similar comment years ago. Few would disagree that the content […]

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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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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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New Year’s Resolutions

11 years ago

In the spirit of the annual tradition of New Year’s resolutions, I’ve complied a few points to reflect upon while you ponder the upcoming year…  HIDING THE DILUTION A savvy entrepreneur or prior investor might engage in a little “Hiding the Dilution” game playing during a financing. Now, if you READ all the legal documents, […]

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New Year’s Resolutions

11 years ago

In the spirit of the annual tradition of New Year’s resolutions, I’ve complied a few points to reflect upon while you ponder the upcoming year…  HIDING THE DILUTION A savvy entrepreneur or prior investor might engage in a little “Hiding the Dilution” game playing during a financing. Now, if you READ all the legal documents, […]

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Inspire Someone by Saying More Than No

By Clint — 11 years ago

Recently, one of our companies presented to another venture group as they were out looking for their next financing round. After a reasonably positive report on the meeting from the CEO, he received an email from the firm that was said something like “We think you’re tackling a huge opportunity, but we don’t have the […]

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Far-REACHing Chemical Regulations

11 years ago

As corny as my wordplay is, the meaning is real. After a lengthy and difficult period of negotiations, the European Commission and Council reached agreement about the final wording of the REACH (“Registration, Evaluation, and Authorization of Chemicals”) regulation. This draft was accepted by the European Parliament last Wednesday, and the regulation will be effective June 1, 2007.  […]

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New York (Finally) Notices London

11 years ago

My partner Wayne and I recently were in Europe and England (that’s the correct way to think about them, too) raising money for Apex VI. We came away with some impressions that may be relevant for the coming year or two. While the growth rate in Europe has been anemic for the past decade, it […]

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Nasdaq, AOL or Yahoo – The Next/Last Great Venture Exit?

By Bart Schachter — 11 years ago

More than Nasdaq or AIM, Yahoo has become in recent years The Great Venture Exit. Nestled in Sunnyvale only a Prius’s putter away from Google HQ, the elderstatesman of the Internet was only yesterday the contemplated ramp to riches for many college-aged entrepreneurs hoping to cash their internet traffic for a cool $1.65 billion. So […]

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Contrarian Plays – Making Money in Residential Building Products and Services

11 years ago

In a white hot M&A market, we are often asked about sectors where investors can buy a business at a “reasonable” value. While the overall market continues to be strong, there are pockets of opportunities created in sectors where investor sentiment or underlying market trends don’t appear to be favorable – as has been the case […]

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It’s The Platform, Stupid

11 years ago

I need to learn by doing. It’s an inefficient approach, but information gleaned from news and blogs doesn’t usually penetrate my thick head. I’m developing a mobile collaboration (or “social networking”) application. Though the piece that actually runs on the “mobile” is by far the simplest component of my system (a small Java/BREW program that […]

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PE-Backed Management

By Adrian — 11 years ago

Harvard Business School’s Josh Lerner provided some interesting academic insights this week in a WSJ piece titled “Private-Equity Deals Alter the Market.” He wrote that private equity-backed IPOs may do well because, when private, company managers are free from quarterly earnings pressure and can focus on long-term goals. Executives have also been pressured, typically, to aggressively cut […]

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It’s (Rule) 415 – Do You Know Where Your Children Are?

11 years ago

So “children” is my metaphor for small-cap public companies, and Rule 415 is an SEC regulation that I hadn’t even heard of until two weeks ago. It turns out that the SEC appears to be looking to crack down on some of the more punitive PIPE structures when microcap companies (under $75 million market cap?) […]

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What is the Objective?

11 years ago

With the private equity world evolving at a rapid pace, it brings to mind one central issue: The debate centering around the proper objective/measure of investment return or GP performance. A recent Business Week coverstory entitled “Gluttons at the Gate” (October 30th Edition) spoke judgmentally about the amount of fees charged by Private Equity funds in […]

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Three Pounds of Pulp or Three of Thought

11 years ago

It’s no secret that America is no longer the sole dominion of innovation and entrepreneurship. You’re just as likely to find an enthusiastic power point-wielding entrepreneur in the Starbucks of Shanghai, Mumbai or Beijing as you are in Silicon Valley. This is no protectionist rant. I believe global investing is the next step in venture […]

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