Examine vintage-year fund returns from industry monitor Cambridge Associates and several things stand out: First, vintage-year performance for venture funds began climbing in 2007 and has remained solid since. Second, prior to 2007 and dating back to the end of the dot-com boom, pooled performance did the opposite: It sagged and remained low. Such is […]
Unicorn companies have been winning smaller valuation markups from their investors, but few have suffered down rounds, according to a study from Fenwick & West. The report looked at 31 unicorn financings in the United States from 2016 and compared them to 97 in 2014 and 2015. Overall, it suggests venture capitalists still believe in […]
Pangaea Ventures, a Canadian pioneer of advanced-materials investing, has launched its fourth VC fund with an initial commitment from heavyweight strategic backers. In a newsletter issued this week, the Vancouver cleantech investor said Pangaea Ventures Fund IV secured roughly half its $105 million (US$80 million) target. If it raises the whole amount, Fund IV will be the largest in the firm’s 16-year history. The fund's initial limited partners included major corporations based in North America, Europe and Asia.
By Alex Derber, VCJ Correspondent VC and growth-capital firms in France raised almost a third more money than those of any other European country in 2015, and France may soon replace the United Kingdom as Europe’s epicenter for venture capital. Emblematic of that potential change is Paris-based Alven Capital, which launched with €10 million ($11 […]
Los Angeles City Employees’ Retirement System continues to believe in venture and, in particular, large and mid-tier funds with scale-up capital. The city pension manager bought into five funds last year, including those from Spark Capital, Technology Crossover Ventures and DFJ, according to a recent portfolio report. That’s two more than 2015 and one ahead […]
Silicon Valley and New York felt the brunt of last year’s decline in venture investing, though they weren’t alone. Both saw an investment decline greater than the national average. They also were at the top of the list of metropolitan regions in the United States with the greatest amount of capital deployed during the year. […]
A pair of funds from Spark Capital lead a well-performing late-decade venture portfolio at the Los Angeles City Employees’ Retirement System. Spark Capital II and Spark Capital III captured the first and second positions in the 13-fund portfolio as of June, according to a recent performance report. But not by much. Polaris Venture Partners VI […]
The collective fundraising effort of 500 Startups has a new lead partner. The seed-stage investor named Arjun Arora to handle investor relations and head up fundraising, the organization told VCJ. 500 Startups, which launched in 2010, is raising its fourth main fund, which is targeted at $150 million and has already raised $49.6 million from 14 LPs, […]
By Alex Derber, Correspondent European venture capital has traditionally lacked funds large enough to justify investment by big institutions, especially at the early stage. That’s unfortunate, says Joe Schorge, founder of London-based Isomer Capital, because off-the shelf development tools have opened up the digital market to a wider array of entrepreneurs, leading to a boom […]
Last year, the venture firm with one of the largest amounts of capital at its disposal ranked as the most active investor nationally and internationally. New Enterprise Associates, which is investing from a $2.8 billion main fund and a $350 million opportunity vehicle it raised together in 2015, was the most active U.S.-based VC in […]