Textiles Ministry Forms Rs 35 crore Venture Capital Fund to Support Startups

Textiles Ministry is launching Tex-Venture Capital Fund, a Rs 35 crore venture capital fund to provide support to startups, in association with Small Industries Development Bank of India (SIDBI).

“The primary objective of the fund will be to make early and growth stage investments in small enterprises. These will be innovative enterprises in new and emerging fields in textiles industry, including powerloom sector and allied products & services.”

“Textiles Ministry and SIDBI are the initial contributors to the fund which is expected to commence with a minimum corpus of Rs 35 crore while the targeted fund size is Rs 80 crore,” SIDBI Deputy Managing Director NK Maini said.

SIDBI is the fund’s sponsor and each investment will be limited to Rs 3 crore. The funds will commence operation shortly, Maini added. Textiles Minister Santosh Gangwar, who was here to chair the state textiles ministers’ conference, said: “To provide equity to start-up entrepreneurs, we shall be launching a Tex-Venture Capital Fund in association with SIDBI. The fund shall be started with an initial capital of Rs 35 crore and scaled up further.”

Source: News18

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Textiles Ministry, Tex-Venture Capital Fund, Startup, Small Industries Development Bank of India, SIDBI, NK Maini, Santosh Gangwar.


Palo Alto Venture Capital Firm Leads $50M Funding Round for Teladoc

Jafco Ventures, a Palo Alto-based leading technology venture capital firm, has led a $50 million equity funding round for Teladoc, the nation’s largest telehealth provider.

This funding will further reinforce Teladoc’s leadership position and support the acceleration of its robust growth strategy.

“Teladoc has experienced phenomenal growth. After doubling revenue in each of the last two years, we look to accelerate this trend,” said Jason Gorevic, CEO of Teladoc. “This sizeable investment will allow us to quickly develop new products and services that deliver additional value for our customers while simultaneously expanding into new markets and distribution channels. Our goal is to extend our significant lead in the industry such that Teladoc is the de facto brand in Telehealth.”

Teladoc will continue to pursue growth organically and through additional strategic partnerships and targeted acquisitions. The company is anticipating record-setting growth in January 2015 on the heels of its strongest selling season ever.

Source: Citybizlist

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Palo Alto, Palo Alto Venture Capital, Jafco Ventures, Teladoc, Jason Gorevic.


Facebook’s Eduardo Saverin Leads $14M Series B Funding for Silvercar

Silvercar, an Austin-based app startup that launched in 2012 and rents silver Audi A4s at seven U.S. airports, has raised $14 million in its series B funding round led by Eduardo Saverin, billionaire Facebook co-founder.

This financial support will help Silvercar expand its Audi A4 rental service to other airport locations — financing vehicles as well as helping to pay airport concession fees, CEO Luke Schneider told The Wall Street Journal.

Investors include Eduardo Saverin, co-founder of Facebook, Velos Partners, Austin Ventures and CrunchFund, according to the report. Saverin recently supported FlightCar, a peer-to-peer car-sharing company that slows travelers to rent out their vehicles.

Currently, Silvercar has eight airport locations including Austin, San Francisco, Los Angeles, Dallas, Denver, Miami and Phoenix.

Source: Auto Rental News

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Silvercar, Austin, App Startup, Audi A4s, US, US Airport, Eduardo Saverin, Facebook, Luke Schneider, Wall Street Journal, Velos Partners, Austin Ventures, CrunchFund, FlightCar, San Francisco, Los Angeles, Dallas, Denver, Miami, Phoenix.


Seattle Venture Capital Firms Back Pro.com with $14M

Seattle venture capital firms Madrona Venture Group and Maveron led a $14 million funding round for Pro.com, the Seattle startup that’s looking to make it easier to find home improvement specialists, from plumbers and electricians to roofers and landscapers.

The funding follows a $3.5 million round that Pro.com announced in May, which included participation from Amazon.com founder Jeff Bezos, Sherpa Ventures and Andreessen Horowitz.

Pro.com is led by Matt Williams, the former Digg CEO who sold the Seattle startup LiveBid to Amazon.com in 1999. He then worked at Amazon.com in a number of roles.

The online marketplace emerged earlier this year in Seattle’s South Lake Union neighborhood, touting a new way for home owners to find home improvement professionals over the Web. Today, the company said that over $140 million worth of home improvement projects have flowed through the site in the past few months.

Source: GeekWire

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Seattle, Seattle Venture Capital, Madrona Venture Group, Maveron, Seattle Startup, Startup, Pro.com, Amazon.com, Jeff Bezos, Sherpa Ventures, Andreessen Horowitz, Matt Williams, LiveBid, South Lake Union.


TopOPPS Raises $1.25M from Venture Capital Backer

St. Louis-based venture capital firm Cultivation Capital has led a $1.25 million financing round for TopOPPS, the sales pipeline analytics startup founded by serial entrepreneur Jim Eberlin in early January.

The money will be used to help grow TopOPPS’ team, Eberlin said, as the company better product/market fit.

As part of the deal, Cultivation Capital General Partner Cliff Holekamp will join TopOPPS’ board of directors.

Cultivation Capital helped lead a $700,000 seed round for TopOPPS in March.

Eberlin declined to disclose revenue figures. The company has more than 20 employees at its office at 611 N. 10th St., in downtown St. Louis.

TopOPPS was founded by Eberlin following his exit from Gainsight.

Eberlin remains on Gainsight’s board of directors.

TopOPPS sponsored the first-ever GlobalHack hackathon in February, where Eberlin paid $60,000 for two prototypes that will play a vital role in TopOPPS’ platform. Eberlin got a chunk of his team through GlobalHack, too, including the company’s chief technology officer.

Source: St. Louis Business Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, St. Louis, St. Louis Venture Capital, Cultivation Capital, TopOPPS, Startup, Jim Eberlin, Cliff Holekamp.


Pitango Venture Capital Attracts $15M-$20M from Yongjin Group

One of Israel’s leading venture capital firms Pitango Venture Capital, secured $15 million to $20 million in investment from Yongjin Group, a holding group company focusing on the financial service, private equity investment and medical industry, during the past year, according to people familiar with the matter.

Lenovo Group Ltd., the big Chinese computer maker, meanwhile invested around $10 million in Canaan Partners Israel, a venture fund affiliated with American-based Canaan Partners, in late August.

And Ping An Venture, the venture investment arm of Ping An Insurance (Group) Co., one of China’s biggest financial conglomerates, in November created a $100 million fund dedicated to U.S. and Israel tech ventures. It has made six investments in Israeli startups so far, said Jiang Zhang, an associate director at Ping An Ventures.

The moves come amid a frenzy of fundraising among Israeli entrepreneurs. Israeli and foreign investors—lured by a drumbeat of stock-market listings and acquisitions among Israeli tech startups—have rushed in. In the first half of 2014, 335 Israeli high-tech companies raised a record $1.6 billion in capital, according to estimates by consultancy IVC Industry Analytics and KMPG. That was 81% higher than in the year-earlier period.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Israel, Israeli Venture Capital, Pitango Venture Capital, Yongjin Group, Lenovo Group Ltd., Chinese Computer Maker, Canaan Partners Israel, Canaan Partners, And Ping An Venture, Ping An Insurance Co., China, US, Jiang Zhang, Ping An Ventures, IVC Industry Analytics, KMPG.


Textiles Ministry Forms Rs 35 crore Venture Capital Fund

In association with Small Industries Development Bank of India, Textiles Ministry has launched a Rs 35 crore venture capital fund entitled Tex-Venture Capital Fund, which aims to provide support to startups.

“The primary objective of the fund will be to make early and growth stage investments in small enterprises. These will be innovative enterprises in new and emerging fields in textiles industry, including powerloom sector and allied products & services.”

“Textiles Ministry and SIDBI are the initial contributors to the fund which is expected to commence with a minimum corpus of Rs 35 crore while the targeted fund size is Rs 80 crore,” SIDBI Deputy Managing Director N K Maini told PTI.

SIDBI is the fund’s sponsor and each investment will be limited to Rs 3 crore. The funds will commence operation shortly, Maini added.

Source: Business Standard

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Small Industries Development Bank of India, Textiles Ministry, Tex-Venture Capital Fund, N K Maini.


ClearSlide Reports Seed Mail Acquisition and Forms ClearSlide Mail

The leading sales engagement platform and San Francisco-based ClearSlide announced it has acquired the critically acclaimed mobile email application Seed Mail from Chinese-based Mangrove Technologies and launched ClearSlide Mail.

Whether to make or buy new technology is a question that software companies go through over and over as they add new features to their products.

San Francisco-based ClearSlide Inc., which makes a Web-based tool that helps salespeople more efficiently manage their prospects, faced this dilemma and solved it in an interesting way.

ClearSlide needed technology that could help its customers get more use out of email on their mobile devices. Salespeople rely on their mobile devices more and more, said co-founder and Chief Executive Al Lieb, and email is their preferred method of communication.

ClearSlide decided to try to buy rather than make technology, and Mr. Lieb started doing research in the app stores. The best candidate he found was a popular app called SeedMail, which lets users handle email accounts, contacts and calendars on mobile devices.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, San Francisco, ClearSlide, Seed Mail, China, Mangrove Technologies, ClearSlide Mail, Al Lieb.


MBA Venture Fund Hits $3M Mark

MBA Venture Fund, an actual venture fund formed by Southern Methodist University, has reached a $3 million mark, and is providing money to venture capitalists in a variety of industries.

In 2002, two investors put forward $600,000 to begin the fund and give SMU students the chance to gain hands-on experience with venture capital deals. In just over a decade the fund has given money to a gaming technology company, a biotech company, a booking services company and a network technology business, among others.

Periodic distributions of capital and exiting two investments has brought the fund’s cash to the $3 million mark. In 2011, SMU’s fund left an investment, resulting in a $273,809.29 payment from co-investor Lone Star CRA Fund.

The venture fund is run by MBA students taking the university’s Venture Capital Practicum course. Students decide what deals to consider before evaluating the pitch and deciding whether to recommend the venture to the fund’s board of directors. The board then decides whether to give the pitch a go-ahead.

Source: Dallas Business Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, MBA Venture Fund, Southern Methodist University, Venture Capitalists, Gaming Technology Company, Biotech Company, Booking Services Company, Network Technology Business, Lone Star CRA Fund.


Udacity Plans to Set up Nanodegrees with AT&T and Others

The Mountain View, CA-based online learning startup Udacity Inc. has raised $35 million in series C financing, the latest e-learning startup to raise funding in a growing cluster that has raised hundreds of millions from venture investors.

Unlike crowdsourced learning marketplaces like Udemy Inc. and Skillshare Inc., which invite the masses to teach a variety of skills, Udacity works with corporate partners to create online courses to train future employees.

And while companies like the Minerva Project Inc., Coursera Inc., Khan Academy and others aim to upend the traditional college experience, Udacity targets college grads and is built with the help of industry partners seeking skilled employees.

Those partners, a list of roughly 20 that now includes Google Inc., Facebook Inc., Cloudera Inc. and Salesforce Inc., provide the content and pay Udacity to develop online classes and verify knowledge upon graduation.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Mountain View, California, Online Learning Startup, Udacity Inc., E-Learning Startup, Udemy Inc., Skillshare Inc., Minerva Project Inc., Coursera Inc., Khan Academy, Google Inc., Facebook Inc., Cloudera Inc., Salesforce Inc.


Inspirato Secures $20M in Growth Financing

New investor W Capital Partners and existing investors Institutional Venture Partners and Millennium Technology Value Partners invested the amount of $20 million into Inspirato, a Denver travel startup.

While its investors are prominent in the tech industry—Silicon Valley powerhouse Kleiner Perkins Caufield & Byers also is an investor, although it did not participate in the current round—Inspirato isn’t a tech company per se. The startup is a luxury vacation club that gives users access to more than 240 properties in the U.S., Mexico, Europe, and the Caribbean.

Inspirato will use the money to keep expanding its staff, portfolio of properties, and invest in technology, a release from the company said.

With the new money, Inspirato has raised nearly $70 million in equity financing since it was founded in 2010, with the vast majority coming from tech investors. Other backers include Access Venture Partners, a firm based in the Denver area, and Revolution Places, the holding company formed by AOL founder and former chair Steve Case.

Source: Xconomy

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, W Capital Partners, Institutional Venture Partners, Millennium Technology Value Partners, Inspirato, Denver, Travel Startup, Silicon Valley, Kleiner Perkins Caufield & Byers, US, Mexico, Europe, Caribbean, Revolution Places, AOL, Steve Case.


Avalon Ventures Sets up Two New Companies

Silarus Therapeutics Inc. and Thyritope Biosciences Inc. have been launched by San Diego-based Avalon Ventures formed through its collaboration with pharmaceutical giant GlaxoSmithKline.

Silarus Therapeutics Inc. and Thyritope Biosciences Inc. each will receive up to $10 million in financing and R&D support from Avalon and GSK.

Both companies will be located at COI Pharmaceuticals in San Diego, the innovation center established by Avalon to provide operational support, a fully equipped R&D facility and an experienced leadership team to its life science portfolio companies.

“Our collaboration with GSK represents a new model for driving early-stage drug discovery,” said Jay Lichter, managing director of Avalon Ventures. “By combining the nimble start-up mentality of Avalon with the unmatched R&D expertise and resources of a global pharmaceutical giant like GSK, in less than 18 months we have launched three new companies in diverse therapeutic areas.”

Source: Times of San Diego

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Silarus Therapeutics Inc., Thyritope Biosciences Inc., Pharmaceutical Giant, GlaxoSmithKline, GSK, COI Pharmaceuticals, San Diego, Jay Lichter.


SwipeToSpin Secures Stonehenge Financing

Stonehenge Growth Equity Partners has backed SwipeToSpin, whose service enables online publishers to create 360-degree images of products.

SwipeToSpin, a New York City-based developer of 360 content creation tools, closed an additional round of venture capital funding of undisclosed amount.

Backers included Stonehenge Growth Equity Partners, which joined previous investors Cross Continent Capital and StartFast Venture Accelerator.

The company intends to use the funds to continue its expansion in the automotive marketplace.

Founded in 2011 and led by Devin Daly CEO, SwipeToSpin develops and markets proprietary, patent-pending software for creating, enriching, and publishing photorealistic 360 content for the publishing, retail, and automotive markets.

The company recently launched SpinCar, an automotive-focused version of their 360 software.

Source: FinSMEs

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Stonehenge Growth Equity Partners, SwipeToSpin, New York City, Cross Continent Capital, StartFast Venture Accelerator, Devin Daly, SpinCar, 360 Software.


Invoice2go Raises $35m in Funding

Chris Strode, the founder of Invoice2go, is pleased to announce the raise of $35 million in funding, and now the company is focusing on building a great product.

Invoice2go offers an invoicing app, which helps small businesses manage cash flow through invoicing, expense tracking and operational tools. It’s currently the top grossing business app in the Australian App Store, has over 100,000 customers worldwide, processes over 10 billion in invoicing every year, and is available in nine different languages.

The $35 million funding round is Invoice2go’s first and is led by Accel Partners supported by Ribbit Capital. Strode says it was Accel Partners’ track record of building startups into lasting category defining companies that appealed to him.

The venture capital firm includes Atlassian and 99 Designs among its portfolio of investments, as well as Dropbox, Etsy, Facebook and Spotify.

Source: StartupSmart

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Chris Strode, Invoice2go, Invoicing App, Australian App Store, Accel Partners, Ribbit Capital, Atlassian, 99 Designs, Dropbox, Etsy, Facebook, Spotify.


Dentsu Aegis is Buying San Diego’s Covario

Dentsu Aegis Network Ltd., a multinational media and digital marketing communications company headquartered in London, has signed acquisition agreement with Covario, a well-known San Diego Internet search advertising and digital marketing agency, terms of the deal were not disclosed.

Founded in 2006, Covario raised $21 million in venture capital over its lifetime. About 100 of its 140 worldwide employees are based in San Diego. Venture capital backers include Dubilier & Co., FTV Capital and Voyager Capital.

Dentsu Aegis plans to integrate Covario into its iProspect unit, the companies announced last week. Covario will continue to operate in San Diego, though layoffs are likely for some redundant administrative positions.

The deal is expected to be completed in the fourth quarter of this year.

Covario specialized in helping companies with digital marketing campaigns, particularly around website advertising, social media and search engine optimization – a technique that aims to get a client’s website near the top of Google searches.

Source: U-T San Diego

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Dentsu Aegis Network Ltd., London, Covario, San Diego Internet, San Diego, California, Dubilier & Co., FTV Capital, Voyager Capital.


Rocket Internet Plans to Raise $8B over Its IPO

Rocket Internet, the German-based venture capital group that has launched dozens of online startups, plans to raise $8 billion (€6.2 billion) over its initial public offering, in a range of 35.50 to 42.50 euros per share.

The Berlin-based company said in a statement on Tuesday it expected gross proceeds of about 1.477 billion euros from the offering. This assumes it places the maximum number of shares at the mid-point of the price range, with a free float after lock-ups of 24 percent.

Rocket Internet wants to replicate the success of Amazon.com Inc and Alibaba in markets that the U.S. and Chinese groups have yet to dominate such as Africa, Latin America, Russia and other parts of Asia.

Founded in 2007 by brothers Oliver, Alexander and Marc Samwer, Rocket has set up e-commerce and online marketplaces for everything from taxis to meal deliveries in more than 100 countries, making revenue of $1 billion in 2013.

Source: Mynextfone

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Rocket Internet, Germany, German Venture Capital, Online Startup, Startup, Berlin, Amazon.com Inc., Alibaba, US, China, Africa, Latin America, Russia, Asia, Oliver Samwer, Alexander Samwer, Marc Samwer, E-commerce.


Tungsten Corporation Adds Plymouth Venture’s DocuSphere to Its Portfolio

Tungsten Corporation has acquired DocuSphere, a portfolio company of a venture capital firm Plymouth Ventures.

Based in Perrysburg Ohio, DocuSphere is a leading provider of accounts payable automation and workflow software.

Tungsten Corporation is a publicly traded company based out of London, England. The combination of Tungsten’s supplier portal and e‐Invoicing services with DocuSphere’s workflow and connectivity technology will help companies streamline their accounts payable functions from receipts of e‐Invoice to payment.

Plymouth Venture’s PVP II originally invested in DocuSphere (also known as Image Integration Systems) in December of 2010, and the equity investment provided growth capital for increased sales and marketing activity, along with additional product development.

Source: Michigan Venture Capital Association

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Tungsten Corporation, DocuSphere, Plymouth Ventures, Perrysburg Ohio, London, England, Plymouth Venture’s PVP II.


Dallas’ Telehealth Provider Teladoc Secures $50M in Funding

Jafco Ventures, a Palo Alto-based technology venture capital firm, has led a $50 million funding round for Dallas-based telehealth provider Teladoc, according to company’s announcement.

It’s one of the largest investments in the telehealth industry to date, Teladoc CEO Jason Gorevic told me in an interview this afternoon.

“Fundamentally, our mission is to make it easier for Americans to access high-quality health care anytime and anywhere,” Gorevic told me. “This capital will help us be able to substantially (progress toward) that goal.”

Teladoc has doubled its revenue in each of the last two years, and the funding will accelerate that trend, Gorevic said. The company grew its revenue 76 percent in 2012 and more than 100 percent in 2013. The company will again hit a triple-digit growth percentage in 2014, and expects record-setting growth in 2015 after its strongest selling season ever, he said.

Source: Dallas Business Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Dallas, Texas, Jafco Ventures, Palo Alto, Palo Alto Venture Capital, Telehealth Provider, Teladoc, Telehealth Industry, Jason Gorevic.


Matthew W. Carper Joins Louisville Private Equity Firm

Matthew W. Carper has been appointed by Louisville private equity firm Parthenon LLC as its new partner and senior vice president.

Matthew W. Carper, 37, joined the investment advisory firm as senior vice president and partner and will focus on portfolio management and equity research efforts, according to a news release from Parthenon.

“Matt brings a depth of experience in a variety of complex fiduciary relationships and has excellent credentials in investment management and research,” said Parthenon president Todd P. Lowe in the release. “He has been a top performer in his profession for many years, and we feel he represents the very best in the next generation of advisers.”

Carper previously worked for PNC Wealth Management, serving as senior portfolio manager and vice president since 2007, according to the release. PNC Wealth Management is a subsidiary of PNC Financial Services Group Inc.

Source: Louisville Business First

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Matthew W. Carper, Parthenon LLC, Todd P. Lowe, PNC Wealth Management, PNC Financial Services Group Inc.


FSC Helps Venture Capitalists to Increase Stakes in Firms in Creative Industries

An independent government agency Financial Supervisory Commission revealed plans to ease regulations that would allow venture capital subsidiaries to increase stakes in firms in creative industries.

The upcoming liberalization is another bid by the commission to help boost the nation’s creative industries, as their counterparts in South Korea and China are gaining popularity and bringing in significant tourism revenues for those nations.

Under the regulatory easing, the venture capital units of domestic financial service providers could increase investment to NT$150 million (US$4.96 million) in firms engaged in creative industries, triple the current NT$50 million limit.

The existing restriction aims to prevent financial companies from owning heavy stakes in non-financial firms, especially in printing, broadcasting and other media businesses.

The commission also bars financial firms from controlling more than a 15 percent stake in individual invested companies.

Now the commission has said it is to free venture capital arms of financial conglomerates from the 15 percent cap, meaning that other subsidiaries cannot take part in the regulatory easing, according to a statement on its Web site.

Source: Taipei Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Financial Supervisory Commission, South Korea, China.


Asia-Focused Venture Capital Investment Tops $10.5B Mark in 2014

With an increase of $6.3 billion year-to-date, Asia-focused venture capital investment has reached $10.5 billion mark in 2014, driven by expanding markets outside of Greater China.

Preqin‘s latest research into the Asian private equity industry has highlighted the accelerated growth in venture capital investment throughout the region in recent years. After a number of years of slower fundraising and investment activity across the continent, venture capital deal flow across Asia, particularly in more emerging economies such as those in Northeast and South Asia, has increased significantly. The level of investment in buyout opportunities across Asia has also grown in 2014, with $29.6bn of investment so far in 2014 compared to $25.7bn in the whole of last year.

Source: ValueWalk

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Asia, Asian Venture Capital, China, Greater China, Preqin, Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Asian Private Equity, Northeast Asia, South Asia.


DNA Testing IntegenX Secures $10M Venture Loan

Human DNA identification firm IntegenX has secured a $10 million venture loan led by Horizon Technology Finance Corporation.

The venture loan was fully funded at closing, with Horizon, Square 1 Bank and a third lender funding their commitments of $3.75 million, $2.5 million, and $3.75 million, respectively. IntegenX will use the funds primarily for working capital purposes.

“We are pleased to lead a $10 million venture loan for IntegenX, an exciting company at the forefront of using technology to improve the ease and speed of DNA testing while reducing its cost,” stated Gerald A. Michaud, President of Horizon. “IntegenX’s focus on forensics applications that have high growth potential, its impressive customer traction and its strong position in international markets, makes IntegenX another compelling company in our high quality investment portfolio.”

Source: ABL Advisor

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Human DNA Identification Firm, IntegenX, Horizon Technology Finance Corporation, Square 1 Bank, DNA Testing, Gerald A. Michaud.


Meet Michelle Lam, the First Female Principal at Bain Capital Ventures

A former venture capitalist and once served as chief financial officer for a data company bought by the US’s SEC Michelle Lam, now is a startup founder.

Now she is a start-up founder, working out of an office in a trendy San Francisco neighbourhood lined with racks of the stylish yet sensible-looking lingerie, mostly bras, that her company True & Co designs and sells online.

She launched True & Co in 2012 after a frustrating shopping trip. She realised she could use her experience in data analysis and management, and her insights into the problems women encounter while shopping, to launch her own start-up. By crunching data on return rates and customer feedback and using that to redesign and launch products quickly, she says True & Co can make better fitting clothes.

Female start-up founders remain a minority but Ms Lam, who was the first female principal at Bain Capital Ventures, is one of a growing number in Silicon Valley specialising in ecommerce.

Source: Financial Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Female Venture Capitalists, Michelle Lam, Female Startup Founder, Startup, True & Co, Bain Capital Ventures, Silicon Valley, Ecommerce.


German Startup Traxpay Scores $15M in Series B Funding

A leader in business to business payments Traxpay has raised the amount of $15 million in in series B funding led by the corporate incubator of Commerzbank and Software AG with existing investors Earlybird Venture Capital.

Traxpay, a German startup that has created a platform for businesses in a supply chain to make payments to each other — think PayPal for the B2B world, or an Alipay of the Western world — is making two significant announcements that point to the company’s global growth ambitions–specifically in the U.S. and Asia.

First, it has raised another $15 million, in what CEO John Bruggeman tells me was an oversubscribed round of funding. Led by Commerzbank’s main incubator and Software AG, the Series B round also had participation from existing investors Earlybird and Michael Phillips of Castik Capital.

Second, Traxpay is teaming up with a new strategic partner, MasterCard, in a four-year deal. As Bruggeman points out to me, MasterCard is not taking a financial stake in the company as part of the partnership, but what it will be contributing is its global payment network. “The Series B is for scale,” he says. “The MasterCard partnership is the ability to deliver that scale.”

Source: TechCrunch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Traxpay, B2B, Business to Business, Traxpay, Business Payments, Commerzbank, Software AG, Earlybird Venture Capital, Germany, German Startup, PayPal, US, Asia, John Bruggeman, Software AG, Michael Phillips, Castik Capital, MasterCard.


The Launch of Private Equity and Venture Capital Firms Technology Solution

A new technology solution, AlphaClick, which enhances portfolio monitoring for private equity and venture capital firms has been introduced by Dion Global Solutions, technology partner to the financial services industry.

AlphaClick streamlines the collection and analysis of portfolio company data, enabling fund managers to meet increased transparency and reporting requirements. Dion has deployed the solution at RTP Ventures, a US-based venture capital firm specialising in investing into software companies.

AlphaClick transforms the way firms analyse portfolio company data, automatically turning raw investee information into actionable insights. This dramatically reduces time spent on collecting, processing and analysing data, and simplifies and improves reporting and decision-making.

Experienced financial analysts support the automated validation and standardisation; ensuring fund managers have access to the highest quality data. Deviations between targeted and actual performance are highlighted by comparing portfolio performance across reporting cycles on an ’as-reported’ and standardised basis with dynamic analytics tools such as waterfall charts etc.

Source: Bobsguide

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, AlphaClick, Dion Global Solutions, RTP Ventures, US Venture Capital, Software Company.


Market Listing Boosts Private Equity Industry

Among the 763 companies that submitted public offering applications when the IPO market reopened in January 2014, at least 317 of them have a private-equity or venture-capital background, according to China Venture Group data released.

In the first half of 2014, a total of 99 mainland enterprises were listed in the domestic and global capital markets with fund-raised totaling $17.57 billion. Up to 60 of the enterprises are linked to private equity or venture capital business, and their total funds raised reached $10.50 billion, according to figures from private equity research institution, Zero2IPO’s Research Center.

Although private-equity enterprises can also sell companies to one another to exit their investments, such a method is not as common as IPOs on the mainland because Chinese private equity companies often take minority stakes in companies, and they can hardly make their own decision on how and when to exit a company.

The China Securities Regulatory Commission suspended approving IPOs in late 2012, but reopened it shortly in January this year. The commission approved 10 IPO applications in June, 12 in July and 11 in August.

Source: China Daily Asia

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, IPO, Initial Public Offering, IPO Market, Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, China Venture Group, Zero2IPO’s Research Center, China, Chinese Private Equity, China Securities Regulatory Commission.


Draper Nexus’ $30M US, Japan-Focused Tech Fund

Draper Nexus Ventures, a US-Japan cross border VC firm based in Tokyo and Silicon Valley, has raised $30 million for its $125 million-targeting Technology Partners II vehicle.

The cross-border Japanese-U.S. venture capital fund Draper Nexus has raised $30 million for its $100 million second fund in the latest sign that the former affiliate funds in the DFJ Global Network are growing up.

A little over a year ago, DFJ restructured its network of affiliate funds, changing the payment scheme and flattening the management structure so that the main DFJ fund did not exercise control over the rest of the funds in the network.

Sixteen outside funds had joined the network over the years. And 11 of those (including Draper Nexus) were outside the U.S. The firms were always independent when it came to fundraising, LPs, and decision-making on when to fund startups, but initially, the firms gave DFJ some carry in exchange for branding and access while also paying dues to DFJ for access to facilities.

Source: Mynextfone

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Draper Nexus Ventures, Tokyo, Silicon Valley, Technology Partners II, DFJ Global Network.


Canaan Partners’ Rahul Khanna Launches Trifecta Capital Partners

Trifecta Capital Partners, the Rs300-crore debt fund, has been launched by Rahul Khanna, a venture capital firm Canaan Partners managing director.

Trifecta will be a new entrant in the venture debt segment in India which currently has players such as US-based Silicon Valley Bank (SVB). The new fund will lend to startups that have already raised Series A or B rounds of funding and will offer Rs5-15 crore at a 16% annually compounded rate.

“We plan to lend about Rs100 crore each year. Demand for venture debt in India is about Rs1,000 crore, out of the Rs6,000 crore venture capital investments in India annually. However there is no avenue where domestic investors could play in this game,” said Khanna, explaining the need for starting a domestic capital-based debt fund in India.

SVB India has so far financed almost 70 startups such as Myntra, Snapdeal, Carwale, Zoomin, Manthan Systems and Sankhya Labs. Trifecta Capital Partners is the process of applying to the Securities and Exchange Board of India for official approvals to start the fund within three months.

Source: Economic Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Trifecta Capital Partners, Rahul Khanna, Canaan Partners, Silicon Valley Bank, Myntra, Snapdeal, Carwale, Zoomin, Manthan Systems, Sankhya Labs, Securities and Exchange Board of India.


Ivy-Cap Ventures Sets up Rs244.5 crore Early-to-Growth Stage Startups Fund

Ivy-Cap Ventures, a venture capital fund based in Mumbai, has launched a Rs244.5 crore maiden fund that targets early-to-growth stage startups founded by graduates of select top colleges like IITs and IIMs.

The fund has completely been raised from domestic investors, with 20% anchor commitment coming from the alumni of IITs and IIMs globally, and the rest from institutional investors.

Vikram Gupta, founder and managing partner of IvyCap, said its strategy of backing companies founded or referred to by alumni of top colleges has clicked with investors in funds, or limited partners (LPs).

“If you just look at the data of the total IITians about 300,000, 20% of them have been entrepreneurs once in their lifetime, and 500 IPOs have already happened,” said Gupta. “One-third of the companies which have gone through venture-backed exits have been founded from IITs and IIMs.”

IvyCap has already started soft marketing its second fund, which will raise around Rs900 crore including from overseas investors.

Source: Economic Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Ivy-Cap Ventures, Mumbai, IITs, IIMs, Vikram Gupta, IvyCap, IITians.


Verse Innovation Raises over Rs 100 crore in Its Second Round of Funding

Sequoia Capital India has led a Rs 100 crore in second round of funding for Verse Innovation, the owner of local-language mobile platform NewsHunt.

The financing, which sources indicate may have valued the seven-year-old startup at nearly $150 million or Rs 900 crore, also saw participation from its existing investors Matrix Partners India and Omidyar Network.

The investment comes at a time when increasing proliferation of budget smartphones is boosting demand for regional language content, an opportunity both startups and venture capital investors are betting big on.

“The era of the real Indian mobile Internet written and consumed in local language is just beginning,” said Verse Innovation founder and Chief Executive Virendra Gupta. “Our vision is to create a made-for-India platform and work closely with publishers, developers, OEMs and other ecosystem partners to digitise, distribute and monetise the consumption of local language.”

Source: Economic Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Sequoia Capital India, Verse Innovation, Mobile Platform, NewsHunt, Matrix Partners India, Omidyar Network, Virendra Gupta.


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