Venture-backed M&A value more than tripled to $2.54 billion in August from $775 million in July, thanks to Unilever‘s reported $1 billion acquisition of VC-backed Dollar Shave Club. The deal, announced in July, closed in late August, according to preliminary data from Thomson Reuters. In all, 21 U.S.-based venture-backed companies were acquired in August, with five […]
Basketball superstar Kobe Bryant, who at the end of last season retired after a 20-year career with the Los Angeles Lakers, has joined a long list of athletes diving headlong into venture capital. In late August, Bryant said he formally partnered with scientist-turned-tech-entrepreneur Jeff Stibel to launch an early-stage venture firm, Bryant Stibel. The Malibu, California, firm […]
U.S.-based fundraising spiked in August thanks to the $2.5 billion fund raised by Technology Crossover Ventures. That was more than all that was raised in the month of July, as U.S. venture fundraising continued on pace toward a record year. M&A also soared thanks to the close of Unilever‘s reported $1 billion acquisition of VC-backed Dollar Shave Club. […]
A portfolio of more than a dozen late-decade funds continues to show solid performance for San Francisco Employees’ Retirement System, with standout results from Menlo Ventures, Polaris Venture Partners and Technology Crossover Ventures. The returns have felt the pressures of a more cautious venture market. Many pulled back during the 12 months ended in December. […]
Tom Naughton, formerly managing director at NeoCarta Ventures, joined private equity firm New Energy Capital Partners LLC, according to his LinkedIn profile. Naughton’s new role is chief financial officer. Founded in 2003, New Energy invests in renewable power infrastructure assets. The firm has offices in Boston and Denver. Naughton co-founded NeoCarta, which is currently inactive, in 1999 […]
The hyper-connected tech industry is a world away from the rural farm towns where America’s food is grown. But as today’s farmers are faced with increasing the global food supply against the backdrop of less arable land, water scarcity and labor shortages, technology is instrumental to ensuring food security. High-tech sensors, robots, satellites and big […]
Information Venture Partners is fast approaching the $100-million target set for its second VC fund, thanks in part to partnerships with Canada’s largest bank and other financial heavyweights eager to gain access to emerging fintech opportunities. The Toronto-based firm today announced the $96 million second close of Information Venture Partners II, earmarked for investments in financial technology and enterprise software companies. The fund is expected to meet or surpass its final goal later this year, General Partners Robert Antoniades and David Unsworth told PE Hub Canada.
Menlo Ventures is putting new resources behind its consumer investing, hiring three new staffers and bringing back Shawn Carolan as a managing director. The firm also plans to open a San Francisco office. Carolan rejoins the firm after a full-time, two-year stint running his own e-mail productivity company called Handle. He said he left Handle […]
The Illinois Municipal Retirement Fund re-upped to healthcare industry specialist Versant Ventures at its Aug. 26 meeting. The $34.7 billion retirement fund committed $20 million to Versant Venture Capital Fund VI, according to its website. The commitment remains subject to completion of legal due diligence. Versant would not say how much it plans to raise through Fund VI. IMRF […]
Roofoods, the London-based food-delivery service operating in 12 European countries as Deliveroo, raised about €248 million ($275 million) in fresh funding from new and current venture backers in August. The Series E round was the largest European deal in August and helped the United Kingdom lead the Continent in venture capital raised by companies in the month, according […]