Jason Rhodes Returns to Ventuce Capital

Jason Rhodes, President and Chief Financial Officer, has resigned with Epizyme, Inc., a clinical stage biopharmaceutical company creating innovative personalized therapeutics, effective September 30, 2014.

Mr. Rhodes, who has served on Epizyme’s leadership team since 2010, will be joining a venture capital firm. The Company has a search underway to identify a new chief financial officer, and Mr. Rhodes has agreed to assist Epizyme in an advisory capacity through the end of 2014 to ensure a smooth transition.

“During these past four years, Epizyme has successfully grown from a venture-backed, research-stage company to a well-financed, clinical-stage public company. Today, there are more than 80 extraordinary people at Epizyme pursuing our mission of creating personalized therapeutics for patients with genetically defined cancers. We have two ongoing clinical programs with multiple proof of concept studies, a strong product platform and pipeline, strategic collaborations with GSK, Celgene, Eisai, Abbott and Roche Molecular Systems and a strong financial position with $232.1 million in cash, cash equivalents and accounts receivable as of the end of the second quarter of 2014”, said Robert Gould, Ph.D., Chief Executive Officer.

Source: MarketWatch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Jason Rhodes, Epizyme, Inc., Biopharmaceutical Company, GSK, Celgene, Eisai, Abbott, Roche Molecular Systems, Robert Gould.


Irish Venture Capital Association Appoints John Flynn as New Chairman

Irish Venture Capital Association, the representative organization for venture capital firms in Ireland, has appointed ACT Venture Capital’s managing director John Flynn as the new chairman.

In the last 10 years, Irish venture capitalists (VCs) have invested €1.0bn into Irish SMEs and have leveraged in an additional €1.0bn from international VCs through syndicated deals.

Flynn is currently a board member of four VC-backed firms and manages the AIB Start-up Accelerator Fund, which has invested in 25 companies over the past three years.

He has more than 20 years’ experience in software and technology venture investment. He was previously involved in a number of successful venture-backed companies which have been acquired by international firms for more than €500m.

Source: SiliconRepublic

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Irish Venture Capital Association, Ireland, ACT Venture Capital, John Flynn, SMEs, AIB Start-up Accelerator Fund, Software and Technology Venture Investment.


IEX Group on the Fundraising Trail

A 1 year-old alternative trading system startup IEX Group Inc., is on the fundraising trail, raised the amount of $75 million to continue funding the alternative trading network’s quest.

IEX Group Inc., the upstart private trading venue that launched less than a year ago, plans within a week to seek U.S. regulatory approval to become a full-fledged stock exchange, according to people familiar with the company’s plans.

If the Securities and Exchange Commission gives the green light, IEX would be the first major new stock exchange in the U.S. since BATS Global Markets launched an exchange platform in 2010. IEX, which currently operates as a dark pool, hopes to gain full exchange status within a year, the people say.

To fund the push, IEX has raised $75 million from firms such as Bain Capital’s venture-capital arm Bain Capital Ventures and Spark Capital, a $1.8 billion Boston venture-capital firm. Spark is known for its early investments in technology startups such as social-media site Twitter Inc. IEX has fetched valuations of between $200 million and $300 million, according to people familiar with the estimates.

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, IEX Group Inc., U.S. Regulatory, Securities and Exchange Commission, IEX, BATS Global Markets, Bain Capital, Bain Capital Ventures, Spark Capital, Boston, Boston Venture Capital, Twitter Inc.


Wen Ye Joins Sulliden Mining Capital Inc.

Wen Ye has been appointed by Sulliden Mining Capital Inc. a venture capital company focused on acquiring and advancing Brownfields, development-stage and early production-stage mining companies in the Americas, as the chief financial officer of the company effective immediately.

Mrs. Wen Ye is a CPA-CGA and holds Bachelor of Commerce degree from Laurentian University. Mrs. Ye brings over 11 years of corporate and finance management experience in the public mining, securities and logistics sectors.

Deborah Battiston will be stepping aside as Chief Financial officer at this time to pursue other opportunities. The Board of Directors thanks Ms. Battiston for her contributions to Sulliden.

Source: Canada NewsWire

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Wen Ye, Sulliden Mining Capital Inc., Brownfields, Americas, Laurentian University, Deborah Battiston.


MindMixer Adds $17M to Its Series C Funding Round

Omaha-based Dundee Venture Capital has led a $17 million in series C funding round for MindMixer, a technology company with Omaha roots that relocated to Kansas City in June, bringing MindMixer’s total investment capital raised to $23.2 million.

MindMixer developed a virtual communications platform that has been adopted by governments and civic organizations to better connect with citizens over the Internet.

Mark Hasebroock, founder of Dundee Venture Capital, said the company’s success validates the idea that Midwestern companies need not flee to the coasts for money. His organization has led every round of financing for MindMixer.

“From my perspective, it’s so great to show any startup in the Midwest that they can grow and access this level of capital (here),” Hasebroock told The World-Herald.

MindMixer’s decision to move to Kansas City was fueled by its need for tech talent, which CEO Nick Bowden described as critical to the company’s continued growth.

Source: Omaha World-Herald

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Omaha, Dundee Venture Capital, MindMixer, Technology Company, Kansas City, Mark Hasebroock, Midwestern Company, The World-Herald, Nick Bowden.


Stitch Labs Bags $3.5M to Expand Engineering and Marketing

Stitch Labs Inc. CEO and founder Brandon Levey announced it has received the amount of $3.5 million in venture capital funding to improve engineering and marketing of its technology.

That brings its total venture capital to more than $8 million since the company’s launch in 2011, he adds.

The company provides Internet-based software that lets its clients monitor, analyze and update inventory records as sales of their products occur across multiple e-commerce sites, including their own sites and third-party e-marketplaces, including Amazon.com, Etsy.com and eBay.com. It also integrates with the Square payment processing system, e-commerce platforms including Bigcommerce, Shopify and eBay Inc.’s Magento, and accounting applications QuickBooks from Intuit Inc. and Xero Ltd.’s Xero.

Source: InternetRetailer

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Stitch Labs Inc., Brandon Levey, Engineering Technology, Marketing Technology, Amazon.com, Etsy.com, eBay.com, Payment Processing System, E-Commerce Platform, Bigcommerce, Shopify, Magento, QuickBooks, Intuit Inc., Xero Ltd.


Scottish Equity Sets Up £135M Clean Energy Infrastructure Fund

Scottish Equity Partners, the UK’s leading growth equity and venture capital partner, has raised the amount of £135 million for a new infrastructure fund to invest in British clean energy projects.

The Environmental Capital Fund (ECF) is backed by energy company SSE plc, and a syndicate of financial investors led by Lexington Partners, the world’s largest independent manager of secondary private equity and co-investment funds.

The ECF fund is anchored in an existing SSE infrastructure business (SSE Pipelines), which provides low-pressure gas connections for residential and commercial customers across the UK.

SEP will use the balance of the fund to invest in new, UK-based, clean energy infrastructure projects such as hydro power, energy efficiency, heat pumps and district heating schemes.

Source: Energy and Environmental Management (EAEM) Magazine

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Scottish Equity Partners, UK, Britain, British Private Equity, British Venture Capital, Clean Energy Infrastructure Fund, British Clean Energy Project, Environmental Capital Fund, ECF, SSE plc, Lexington Partners, Hydro Power, Energy Efficiency, Heat Pumps, District Heating Schemes.


3i Group Inks to Acquire A&A Manufacturing

A&A Manufacturing, a leading manufacturer of engineered, mission critical protective equipment, has been backed by 3i Group plc, a multinational private equity and venture capital company headquartered in London.

3i is investing approximately $110 million. The enterprise value of the transaction, which is subject to customary closing conditions, is $202.5 million.

The announcement comes after a round of successful exits for the firm, which has been taking full advantage of the frothy financing and exit markets.

Headquartered in New Berlin, Wisconsin, A&A’s products are made from a variety of materials ranging from composites to exotic metals. The products are designed to protect and elongate the life of valuable machinery while promoting worker safety by keeping crucial equipment functioning properly. Since its establishment in 1945, A&A has grown to be a market-leading global manufacturer of niche engineered protective and safety equipment, primarily for various industrial applications. The Company has manufacturing operations in North America and Germany and sales throughout the world; it employs 474 staff globally and generated revenues of approximately $91 million in 2013.

Source: Opalesque

 

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, London, London Private Equity, London Venture Capital, Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, A&A Manufacturing, 3i, 3i Group plc, New Berlin, Wisconsin, North America, Germany.


Karl-Heinz Götze Joins Austrian Venture Capital Firm as New Partner

Karl-Heinz Götze has been appointed by Gamma Capital Partners, an independent Venture Capital investment firm headquartered in Austria, as a new partner and executive director.

Between 2006 and 2013, Götze was CEO at management consultancy IHC Holding and Consulting. In March he took over the management of Infoniqa Holding, an IT services company owned by Gamma, which he will continue to lead. According to unquote” data, Gamma acquired the data integration software specialist in July 2006.

Prior to IHC, Götze worked at Deloitte for five years, firstly in management consultancy and then as a manager in corporate finance. He then moved to General Motors and worked in the field of business management.

Götze succeeds Oliver Grabherr, who has moved to the Institute for Economic Research. He remains on Gamma’s board of directors.

Source: unquote”

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Austria, Austria Venture Capital, Karl-Heinz Götze, Gamma Capital Partners, IHC Holding and Consulting, Infoniqa Holding, IT Services, Deloitte, General Motors, Oliver Grabherr, Economic Research.


London Venture Capital Firms Launch £850M Tech Investment Funds

During the last six months venture capital firms based in London have raised the amount of £850 million or $1.4 billion for tech investment funds.

London & Partners, an organisation tasked with promoting the city of London on behalf of City Hall, announced the figure as investment firm DN Capital revealed it has launched a new $200 million (£121 million) venture capital fund in London.

DN Capital joins several other large firms that have raised London-based technology investment funds since April.

For example, Index Ventures raised $543 million (£328 million) in June, Balderton Capital raised $305 million (£184 million) in April, Santander raised $100 million (£60 million) in July and Google Ventures raised $100 million (£60 million) in July.

In addition, Dan Cobley, former European head of Google, said in August that he plans to start Brightbridge Capital, a financial technology incubator and investment fund, in London. The fund is reported to be worth $84m (£50 million).

Source: TechWorld

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, London, London Venture Capital Firms, London & Partners, City Hall, DN Capital, Technology Investment Funds, Index Ventures, Balderton Capital, Santander, Google, Google Ventures, Dan Cobley, Brightbridge Capital.


Premier Banking Square 1 Bank Announces New Hires

A full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs Square 1 Bank, announced it has added several key hires to its Bay Area team.

The hires follow the May opening of Square 1′s office in San Francisco’s SoMa district and the bank’s acquisition of Sand Hill Finance in late 2013.

Laurie Lumenti Garty joins as senior vice president, Startup Services, to lead the bank’s efforts in developing new relationships with early stage companies in the Bay Area. Brad Smith joins the bank as senior vice president, Venture Capital Services. Based in Menlo Park, Smith will manage and develop relationships with venture capital firms throughout the region. The bank also hired Susan Tang as vice president, Global Treasury Management, and Rohit Goel as vice president and director of portfolio management for Square 1 Asset Management, Square 1 Bank’s registered investment advisor.

Source: CNNMoney

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Commercial Bank, Entrepreneur, Square 1 Bank, Bay Area, San Francisco, SoMa, Sand Hill Finance, Laurie Lumenti Garty, Startup, Startup Services, Brad Smith, Menlo Park, Susan Tang, Global Treasury Management, Rohit Goel, Square 1 Asset Management.


Lindsay Sharma Joins Industry Ventures as Vice President

Lindsay Sharma has been appointed by Industry Ventures LLC, a leading investment firm for venture capital, as its new Vice President.

In her role with Industry Ventures, Sharma will be working with the secondary investment team.

“We are pleased to welcome Lindsay to our team, as she brings a wealth of strategy and M&A experience from private equity, banking and the corporate side,” said Hans Swildens, CEO and Founder of Industry Ventures. “As we continue to execute our growth strategy, Lindsay’s proven abilities in the areas of due diligence assessment, strategic analysis and relationship management will benefit the firm.”

Sharma most recently was a Principal in corporate strategy and development at Intuit, leading merger and acquisition activities for the company. Prior to Intuit, Sharma developed private equity and investment banking industry expertise with Great Hill Partners and Bear Stearns.

Source: Yahoo Finance UK

 

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, Lindsay Sharma, Industry Ventures LLC, M&A, Hans Swildens, Investment Banking, Investment Banking Industry, Great Hill Partners, Bear Stearns.


Whill Inc. Scores $11M in Series A Round

Whill Inc. chief executive Satoshi Sugie announced that the company has scored the amount of $11 million in Series A round to ramp up production of the high-tech device, which cannot only roll uphill over rough terrain but can also turn on a dime.

The high-performance vehicle is meant to give wheelchair users a sleek alternative to standard chairs, which many believe reinforce stereotypes of weakness or helplessness.

Whill, based in San Francisco and with offices in Japan, took the grand prize in 2012 at TechCrunch Tokyo. The company went on to raise $35,000 through Kickstarter, a campaign that Mr. Sugie said was more about bringing attention to the vehicle than it was about raising money.

Whill went on to raise a $1.7 million seed round from Vegas Tech Fund, 500 Startups, Taiwan-based Kamiya Manufacture Group, Itochu Technology Ventures, Mitsubishi Bankand individual investors, Mr. Sugie said.

The company’s Series A round was provided by Innovation Network Corp. of Japan, 500 Startups, NTT DoCoMo Ventures, Jochu Technology Co. Ltd. and Sun Microsystems Inc. co-founder Scott McNealy, he said. Valuation wasn’t disclosed.

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, Whill Inc., Satoshi Sugie, High-Performance Vehicle, San Francisco, Japan, TechCrunch Tokyo, Kickstarter, Vegas Tech Fund, 500 Startups, Taiwan, Kamiya Manufacture Group, Itochu Technology Ventures, Mitsubishi Bankand, Innovation Network Corp., NTT DoCoMo Ventures, Jochu Technology Co. Ltd., Sun Microsystems Inc., Scott McNealy.


The Chiesi Group Introduces Venture Capital Fund

The Chiesi Group, a research-focused international group, with nearly 80 years of experience, headquartered in Parma, Italy, is pleased to announce the launch of Chiesi Ventures, company’s venture capital fund, via a strategic collaboration with A. M. Pappas & Associates.

Chiesi Ventures will complement the strategic interest of the Chiesi Group in the area of rare diseases by investing in early stage opportunities and expanding the Chiesi network in the US among universities, venture capital investors, rare disease patient organizations and entrepreneurial companies developing treatments for rare diseases.

Chiesi Ventures will have offices in Boston, MA, Research Triangle Park, NC and Parma, Italy and will focus on investment opportunities in the US and Europe. It will operate as an independent investment vehicle while maintaining a strategic connection with the Chiesi Group.

“We have taken a strategic approach in launching our fund and decided to work with an established venture fund with proven experience and a solid investment track record in building companies that are developing therapies for orphan and rare diseases,” said Dr. Alberto Chiesi, President of the Chiesi Group.

Source: PR Newswire

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, The Chiesi Group, Parma, Italy, Chiesi Ventures, . M. Pappas & Associates, US, Boston, MA, Research Triangle Park, NC, US, Europe, Dr. Alberto Chiesi.


Finish Startup Blueprint Genetics’ €2M Funding Round

Nordic venture capital firm Inventure has led a €2 million funding round for Finland’s genome research startup Blueprint Genetics, along with Avohoidon Tutkimussäätiö, a Finnish foundation.

Co-investment was provided by Finnish business angels and Tekes, the Finnish Funding Agency for Innovation, bringing the total amount raised by Blueprint to around €2.96m.

The company will use the fresh capital to support its international expansion, which will kick off with the opening of an office in the US.

The Helsinki-based company provides a genetic diagnostics platform through its Next-Generation Sequencing technology, which is used to diagnose genetic diseases before they manifest in order to aid treatment and preventative care.

Source: unquote”

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Nordic Venture Capital, Inventure, Finland, Genome Research Startup, Blueprint Genetics, Avohoidon Tutkimussäätiö, Finnish Business Angels, Tekes, Helsinki, Next-Generation Sequencing.


California’s Sequoia Capital Raises Fifth China Venture Fund

According to a regulatory filing with the U.S. Securities and Exchange Commission, Sequoia Capital, an American venture capital firm located in Menlo Park, has raised its fifth China fund named Sequoia Capital China Venture Fund V, L.P.

Fundraising target and other details are not disclosed.

Last August, Sequoia Capital disclosed that it has raised two venture capital funds to invest in China. Sequoia China Venture Fund IV and Sequoia China Venture Principals Fund IV each raised US$349.5 million and US$20 million respectively.

Some of Sequoia’s latest investments in China include taking a stake of Chinese medical equipment manufacturer Jiangsu Yuyue Medical Equipment & Supply, participating in a US$100 million series C financing for personalized news app Toutiao, and forming a property financial services joint venture with E-House (China), Yunfeng Capital and Sina Corporation.

Source: ChinaMoneyNetwork

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, U.S. Securities and Exchange Commission, SEC, Sequoia Capital, American Venture Capital, California Venture Capital, Menlo Park, California, China, China Fund, Sequoia Capital China Venture Fund V, L.P, Sequoia China Venture Principals Fund IV, Sequoia China Venture Fund IV, Jiangsu Yuyue Medical Equipment & Supply, Toutiao, E-House, Yunfeng Capital, Sina Corporation.


DN Capital Receives $200M for Its Third Venture Capital Fund

DN Capital, a Pan-European early-stage venture capital firm, announced it has raised the amount of raised $200 million or €144 million for its third venture capital fund called GVC III.

The firm, best known for being an early backer of music-recognition app Shazam Entertainment, will continue to focus on young and growing software, e-commerce and digital-media companies, founder and managing partner Nenad Marovac said.

The investment pool is among the largest in Europe in the last few years and another sign that investors are ready to place bets coming out of the recession. Other prominent closings have included a $543 million fund managed by Index Ventures and a $305 million fund from Balderton Capital. Google in July said it would commit $100 million for investment in European tech companies.

“The market for VC fundraising is picking up again in a few spots and probably defying expectations to some extent,” said Simon Horner, director of policy and public affairs for British Private Equity & Venture Capital Association.

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, DN Capital, Pan-European Venture Capital, Pan-Europe, GVC III, Music-Recognition App, Shazam Entertainment, Software, E-Commerce, Digital-Media, Nenad Marovac, Index Ventures, Balderton Capital, Google, Simon Horner, British Private Equity & Venture Capital Association.


Drone Maker XAircraft’s $20M Series A

Shanghai-based venture capital firm Chengwei Capital invested the amount of $20 million in Guangzhou-based Chinese multi-rotor and drone maker XAircraft, according to Chinese media reports.

The proceeds will be used for developing UAV ((Unmanned Aerial Vehicle) technology, as well as establishing its marketing networks.

Founded in 2007, XAircraft is a multi-rotor and drone manufacturing company specialized in all sized multi-rotor equipment for various types of applications including model aircraft for the weekend hobbyist.

The company has research and development centers in both Australia and China, where China is its manufacturing base.

Source: China Money Network

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Shanghai, Shanghai Venture Capital, Chengwei Capital, Guangzhou, China, Drone Maker, XAircraft, UAV, Unmanned Aerial Vehicle, Australia.


India’s Reliance Joins Hands with Microsoft for Startup Funding, Mentoring Venture

Reliance Industries Limited, an Indian conglomerate holding company headquartered in Mumbai, to partner with Microsoft Corp. to fund and mentor startups in the subcontinent, person with direct knowledge told Economic Times.

According to him, RIL chairman Mukesh Ambani is keen that the company refresh its entrepreneurial spirit and engage fully with the country’s fast-evolving startup ecosystem.

India’s largest private company with interests in petroleum, retail and telecom is keen to focus on startups and technology that are spawning billiondollar businesses in India.

Reliance will operate through Gennext Ventures, an early stage venture capital firm it set up in 2010. The corporate VC arm has disclosed investments in two firms so far — Covascis Technologies Pvt. Ltd and Videonetics Technology Pvt. Ltd.

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, Reliance Industries Limited, Conglomerate Holding Company, India, Mumbai, Microsoft Corp., Startup, RIL, Mukesh Ambani, Startup Ecosystem, Gennext Ventures, Covascis Technologies Pvt. Ltd, Videonetics Technology Pvt. Ltd.


Mobily Ventures to Focus in the ICT Sector

Mobily Ventures, a venture capital arm of Saudi Arabia’s second Telecommunications company Mobily, will focus invest in high tech startups in telecoms, IT, media and entertainment sectors.

Mobily Ventures will focus on early-stage and growth-stage startups in areas including e-commerce and retail innovation, mobile financial services and payment, digital advertising, digital content and entertainment as well as IT and cloud services.

The company, which has also announced its first two investments, aims to build technological and economical synergies between the startup and Mobily. Mobily Ventures will enable startups to leverage Mobily assets to accelerate their growth.

Source: ArabianIndustry

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Mobily Ventures, Saudi Arabia, Telecommunications, Mobily, Telecoms, IT, Media, Entertainment, Startup, E-Commerce.


Matrix Asset Management’s Q2 Operating Results

Matrix Asset Management Inc., a venture capital asset management company with offices in Vancouver, Toronto and Halifax, revealed its financial and operating results for the six months ended June 30, 2014.

President and CEO, David Levi commented, “Addressing Matrix’s working capital deficit and identifying options for the Company to address its present debt obligations and to provide liquidity options for its shareholders remains a key priority.”

Selected Highlights for the Six Month period Ended June 30, 2014 – Unaudited

At June 30, 2014, asset under management (“AUM”) were $226 million, compared to $232 million as at December 31, 2013 and $1.1 billion as at June 30, 2013. — Total revenue for the period ended June 30, 2014 was $3.8 million compared to $7.0 million during the same period last year. — Recurring expenses for the period ended June 30, 2014 were $5.3 million compared to $9.0 million during the same period last year.

Source: IT Business Net

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Matrix Asset Management Inc., Vancouver, Toronto, Halifax, Canada, Canadian Venture Capital, David Levi.


Gorkana Group Sparks Interests in 3i

Gorkana Group, the media information group which is up for sale, is being circled by 3i Group plc, a London-based multinational private equity and venture capital company.

3i Group, the FTSE 100 investment firm, is circling Gorkana Group, the media information provider which is up for sale with a £200m price tag.

The private equity arm of 3i, run by Simon Borrows, is understood to be one of the most interested bidders for the business, being sold by private equity firm Exponent.

Other interested parties are understood to include UBM, the business information and events group, German firm Unicepta, and US private equity firm GTCR. GTCR recently sealed a deal to combine Cision and Vocus, creating a market leader in software for the public relations industry.

DC Advisory is running the sales process on behalf of Exponent, with first round bids due by September 10.

Source: The Telegraph

 

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, London Private Equity, British Private Equity, 3i, Gorkana Group, 3i Group plc, Venture Capital, Venture Capital Firm, Venture Capital Company, Simon Borrows, UBM, Germany, Unicepta, US, US Private Equity, GTCR, DC Advisory.


Robert Bosch Venture Capital Names Albuquerque’s TriLumina as Top Startup of 2014

Robert Bosch Venture Capital, the corporate venture company of the Robert Bosch GmbH, one of the largest private companies worldwide, has named Albuquerque’s TriLumina as the top startup of 2014.

Annually, RBVC holds the Bosch Venture Forum where startups from across the globe are invited to Stuttgart, Germany to present their companies. RBVC is affiliated with Bosch GMBH, which makers power tools, appliances and is one of the world’s largest automotive suppliers.

Robert Bosch Venture Capital selects 144 companies annually to submit proposals. This year, said David Abell, who is the chief strategy officer for TriLumina, the firm selected 20 startups to give a second-stage pitch before selecting 12 finalists.

TriLumina makes innovative lasers on silicon chips that are fast, inexpensive, and lower powered than others.

Source: Albuquerque 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, Robert Bosch Venture Capital, Robert Bosch GmbH, Albuquerque, TriLumina, TBVC, Bosch Venture Forum, Startup, Stuttgart, Germany, David Abell.


VC-Backed Rhythm Pharmaceuticals Prices Its IPO

Rhythm Pharmaceuticals, a venture capital-backed metabolic drug developer, has filed for an initial public offering on the NASDAQ exchange.

Rhythm Pharmaceuticals, a clinical-stage biotech developing injectable therapies for gastrointestinal diseases, filed on Wednesday with the SEC to raise up to $86 million in an initial public offering.

The Boston, MA-based company, which was founded in 2008, plans to list on the NASDAQ under the symbol RYTM. Rhythm Pharmaceuticals initially filed confidentially on July 15, 2014. Citi and Cowen & Company are the joint bookrunners on the deal. No pricing terms were disclosed.

Source: NASDAQ

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Rhythm Pharmaceuticals, Metabolic Drug Developer, IPO, Initial Public Offering, NASDAQ, SEC, Boston, Massachusetts, MA, Citi and Cowen & Company.


Accel Partners Leads $35M Series B Venture Funding for SeatGeek Inc.

Accel Partners, a venture and growth equity firm, has led a $35 million in series B venture funding for SeatGeek Inc. that plans to help people find and buy tickets to sporting events, concerts and shows.

Accel Partners led the Series B investment joined by Causeway Media Partners, a sports-focused venture fund founded by Boston Celtics Chief Executive Wyc Grousbeck; Melo 7 Tech Partners, a new fund co-founded by NBA star Carmelo Anthony; and individual angel investors including football’s Peyton Manning and Eli Manning and the rapper Nas.

Founded in 2009, the New York City startup bills itself as a “ticket search engine.” Its website and apps use proprietary venue maps and algorithms to guide users to the best available deals on tickets from both primary and secondary sellers.

While the company is sometimes seen as a challenger to established players in the live event ticket sales business, such as TicketMaster, TicketFly or StubHub, these companies and other potential competitors work with SeatGeek as ticket suppliers.

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, Accel Partners, SeatGeek Inc., Sporting Events, Concerts, Shows, Causeway Media Partners, Boston Celtics, Wyc Grousbeck, Melo 7 Tech Partners, NBA, NBA Star, Carmelo Anthony, Peyton Manning, Eli Manning, Nas, New York City, Startup, TicketMaster, TicketFly, StubHub.


Wells Fargo to Benefit from LendingClub IPO

Wells Fargo, a provider of banking, mortgage, investing, credit card, insurance, and consumer and commercial financial services, will have a huge benefit when LendingClub goes public.

The bank, through its venture capital arm, is the biggest investor in LendingClub, a peer-to-peer lender based in San Francisco. LendingClub also does its corporate banking through Wells Fargo and chose Wells Fargo Securities as one of eight underwriters for its initial public offering.

But in January, Wells banned some of its employees from investing in Lending Club loans without prior approval because it competes with Wells.

LendingClub operates an Internet platform that connects people who need money with investors willing to lend it to them. Lending Club’s chief operating officer said in January that he was puzzled by the ban, since Wells Fargo, through Norwest Venture Partners, is Lending Club’s biggest shareholder.

Source: SFGate

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Wells Fargo, LendingClub, San Francisco, Norwest Venture Partners.


“New Technologies Helping to Drive a U.S. Economic Recovery” Says Hillary Clinton

New technologies were helping to drive a U.S. economic recovery but that not enough people were sharing in the gains, said former Secretary of State Hillary Clinton.

Speaking at a conference sponsored by Nexenta Systems Inc. where everyone who attended received a signed copy of her latest book, “Hard Choices,” Mrs. Clinton declined to say whether she would run for president. She said she would be working hard this fall to make sure that Democrats don’t lose the Senate and can maintain “a decent balance” in the House.

The bulk of her speech centered on the technology industry’s role in the U.S. economy. She frequently praised Silicon Valley in the well-received speech, which ended with a standing ovation from the several hundred attendees.

Mrs. Clinton cited new technologies like cloud computing and “software-defined everything,” which she said are “helping businesses operate more efficiently and effectively at the same time that they increase productivity and profit and are helping to drive economic recovery.”

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, New Technologies, US, US Economy Recovery, Hillary Clinton, Nexenta Systems Inc., Silicon Valley.


Eight Southwest Venture Capital Funds to Discuss the State of VC

Eight venture capital funds from around the Southwest were brought by Coronado Ventures Forum, a New Mexico non-profit organization that educates investors and entrepreneurs, to discuss the state of VC in the area.

The result? A mixed bag. The group praised New Mexico for having an idea-rich economy and for its recent push by the state to invest in more companies. But the group also hammered the state for not having enough executive horsepower and for being far from the centers of technology development.

The ideas the eight had to build up New Mexico’s economy were in line with what is going on in Albuquerque now, from launching the ABQid accelerator to building a startup community.

Also, it helps to be named Brian. Of the eight companies in the room, half were represented by men named Brian. Here are some of their comments.

Source: Albuquerque 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, Southwest, Coronado Ventures Forum, New Mexico, New Mexico Venture Capital, Albuquerque, ABQid.


James Fox Joins ExceleraRX Corp. as CEO

James Fox, former Fairview Health Services Chief Financial Officer, has been appointed by specialty-pharmacy network ExceleraRX Corp. as its new CEO effective September 1, 2014.

Founded in 2012, Minneapolis-based ExceleraRX aims to make it easier and more affordable for health systems to access specialty drugs, which are costly and treat rare conditions. (One specialty drug that’s been in the news lately is Solvadi, a Hepatitis C treatment that costs $84,000).

The Excelera network lets multiple health systems band together to negotiate drug contracts. Minneapolis-based Fairview and six other health providers are part of the network.

Fox retired from Fairview in 2011. He replaces interim CEO David Fasching at ExceleraRX.

Source: Minneapolis / St. Paul 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, James Fox, Fairview Health Services, Specialty-Pharmacy Network, ExceleraRX Corp., Minneapolis, Solvadi, Hepatitis C Treatment, David Fasching.


Meet David Hornik

The article below is an overview on David Hornik, who was went from an 80’s pop-loving undergrad to a venture capitalist, believe it or not.

Granted, Hornik went to law school after graduating, but he also recognized the benefits of moving to Silicon Valley thanks to his undergraduate experiences and friends. As a result, he ended up taking his talents to the Bay Area to work specifically as a litigator for startup companies.

Every minute he could get more involved in the businesses he would, even though he admittedly had no right to opine on their day to day operations. His speech-craft got him an offer to join the venture capital world.

Hornik had wanted to be a VC for a while, and joined August Capital. His partner told him: ‘David, lawyers suck at this and you’ll likely fail’. However, Hornik had no intention to fail, and he’s been at it for the last 15 years.

Source: Tech Cocktail

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Venture Capitalist, David Hornik, 80’s Pop-Loving, Law School, Silicon Valley, Bay Area, Startup, Startup Company, August Capital.


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