The valuation reset now going on in venture capital has hit the mid-decade portfolio at Texas County and District Retirement System. The money manager, which is generally bullish on venture, has backed 10 funds with vintages of 2006 to 2009. All but one saw its performance decline over the 15-month period ended in December 2015, […]
It was a failure. That’s what we learned in September about semiconductor giant Intel’s acquisition of antivirus software maker McAfee five years ago. Intel agreed to sell a majority stake in its $7.7 billion acquisition to a private equity firm at a price that showed that McAfee’s assets had increased only marginally, if at all. […]
Politicians tend to broad-brush the carried-interest debate, but it’s the subtleties that may matter most to venture capitalists. The issue of carried interest taxation has surfaced several times over the past decade. It often is presented as a matter of fairness, chastising big-money Wall Street types with tax breaks not available to middle-class workers. In […]
With a change in carried interest taxation looking more certain, VCs begin to contemplate life under new rules
As venture investing turned more cautious this year, many of the industry’s major hubs saw big drops in capital deployed. Less trodden regions, however, survived quite well, with more money going to startups. At the top of the list is the Midwest, where dollars going to young companies were up 6 percent through the third […]
These are the best of times to get a company off the ground. Seed capital is available from more sources than ever, including accelerators, pre-seed funds, crowdfund sites, and friends and family, all before an institutional seed fund takes notice. Yet seed deals are sliding in the United States and the Series A funnel remains […]
With the 2008-2009 recession slowly receding, Massachusetts Pension Reserves Investment Management Board stepped up its venture investing and hasn’t looked back. The money manager maintained a generally stronger annual buying pace from 2010 through 2014 after several years of slower investing, according to data supplied to VCJ for the period. The focus has been smaller […]
Spark Capital slightly increased the management fee on its second growth capital fund, targeting $500 million, documents released by Los Angeles City Employees’ Retirement System show. Spark Capital Growth Fund II is charging limited partners a 2.5 percent annual management fee on committed capital in the first five years of the fund’s life, according to LACERS […]
Megadeals in the United States continue at a slower pace this year, according to a recent study of venture investment activity. This may sound odd in a year when Uber Technologies raised $3.5 billion and Snapchat added $1.27 billion to its bank account in spring transactions. But only 10 megadeals of $100 million or more […]
Intel Capital, in a shift of strategy, aims to invest more money in fewer deals and buff up its portfolio support. The venture arm of chipmaker Intel also lifted its annual investment target and will now deploy between $400 million to $500 million a year. The changes were announced at the organization’s annual Global Summit in […]