Mark Boslet
The fund is to be invested globally over three to five years with the hope it will spark a startup ecosystem in the auto industry. Intel is already working with the automakers Toyota, BMW, Hyundai, Kia and several in China.
The fund, CRP XV, had an initial target of $300 million and is slightly larger than its $320 million predecessor. Partners put a cap in place at $375 million to maintain a commitment to “small and focused” funds, according to a press release.
Average valuations also jumped 85%, well above the 69% increase of the third quarter. Series B rounds were exceptionally strong, rising an average of 164% from valuations set in the prior round of financing, the Fenwick & West’s study found.
So where does Cheriton think innovation should be focused? The answer is equally simple and broad: computer infrastructure.
Average investment multiples are higher for later stage and secondary commitments made since 2005, compared with other funds of the same vintages, and median IRRs for the later and secondary fund investments from earlier in the decade are better as well.
Don’t start counting it out, now that Facebook, Zynga and Groupon are, or will soon be, public. The market is likely to see record dollar volume in 2012, predicts Millennium, and solidify its role as at least a temporary alternative to the IPO market for a broad range of companies.
Chrysalix said it signed three new strategic limited partners to its CELP III Fund. They are SABIC, Royal Dutch Shell, and a large European industrial group to be disclosed this spring. The new LPs will give CELP III additional money to strengthen the fund’s portfolio, especially important during a recessionary period, the venture firm said. […]
Just a few years ago entrepreneurial activity in Brazil was largely focused on software. Now companies are popping up in health care, manufacturing and digital signage.
“So what would I dream of?” Moritz asked. “I’d dream of a little office that we could have at Sequoia Capital that allowed us to automatically stamp and give green cards to the talented people who would generate prosperity for America tomorrow.”
In total corporate investors poured $2.3 billion in 551 deals in 2011, up 15% in both dollars and deals, the MoneyTree Report shows.