Evan Vitale

Accounting Professional

Evan Vitale – Bloomberg & Other VC Headlines

by

By Evan Vitale

Here are a few of the venture capital stories making headlines this week:

Fortune.com is reporting that Bloomberg Beta, the early-stage venture capital arm of Bloomberg LP, today announced that it has closed its second fund with $75 million. That’s the same size as Bloomberg Beta’s debut fund, with all of the money again coming from the parent company. You can read the full story here: http://for.tn/2ah4Wih

In Europe, venture capital has regained some momentum in the second quarter, but is still down 22% from 2015, this coming from Venture Beat.

According to the latest report from Dow Jones VentureSource, during the three months ending in June, European companies raised $3.33 billion in 461 deals.

That’s up 18 percent from Q1 in terms of amount raised. And it represents an increase of 9 percent in the number of deals.

Catch up on all the details here: http://bit.ly/29PrSkE

Fast Company has an interesting article: “More Unicorns But Fewer Deals: The Current State of Venture Capital Funding.”

The only thing certain about the global economy is uncertainty. Thanks to political unrest, terrorist attacks, and the repercussions of Brexit, caution is the dominant mindset of investors in every market, according to the latest quarterly global report on venture capital trends published jointly by KPMG International and CB Insights.

You can read the full report here: http://bit.ly/2a5E7eD

Meanwhile, in Arizona, the Phoenix Business Journal is reporting that the state has enjoyed a big second quarter in venture capital deals.

A 34 percent increase in venture capital deals in Q2 2016 were reported by PwC and NVCA for Arizona. The new report finds five deals more than DowJones VentureSource reported.

 

Evan Vitale – Venture Capital News Update

by

By Evan Vitale

What’s new in the world of venture capital? Let’s take a look…

The Columbus Dispatch (Columbus, Ohio) asks the question “why can’t Ohio attract more venture capital money?”

According to a recently-published article, a new report on venture-capital funding in Ohio has a familiar theme: There’s still not enough of it.

Investors put $373 million to work with 167 new and developing companies in Ohio last year, according to the Ohio Venture Report 2015, a look at venture investing in the state.

“We do have a big gap,” said Tom Walker, CEO and president of Rev1 Ventures, a Columbus technology-business incubator.

You can read the full article here: http://bit.ly/29H70zi

Meanwhile, Fortune.com is asking different questions on why the lack of women in venture capital continues to persist.

There’s still a lot of work to be done when it comes to including more women in venture capital, summed up by a collective chorus at a panel of Silicon Valley and Boston venture capitalists at Fortune‘s Brainstorm Tech conference in Aspen on Tuesday.

“Everyone has a role to play, including the press, existing VC firms, and entrepreneurs,” said Megan Quinn, a growth investor at Spark Capital, who was previously a partner at Kleiner Perkins. “I don’t buy the argument that there aren’t enough qualified women to be in venture capital,” she added.

The lack of women who invest in startups in Silicon Valley is an issue that has come to light over the past few years. Fewer than 6% of all decision-makers at U.S. venture capital firms are women, according to data compiled by Fortune, showcasing the glaring gender inequality issues in the investment industry and Silicon Valley as a whole.

Read more here: http://for.tn/29Dtttk

Crain’s Cleveland Business reports how local leaders pay tribute to venture capital icon David Morgenthaler, who passed away recently at the age of 96.

You can read the tribute here: http://bit.ly/29PkLu6

Evan Vitale – Venture Capital News!

by

By Evan Vitale

It’s been a short week due to the long July 4th holiday weekend (we love those!), but there’s plenty of activity and news in the world of venture capital.

Black Enterprise has a good article featuring Arlan Hamilton and her bootstrapped venture fund.

Backstage Capital, the bootstrapped $12 million nano-venture capital fund founded by Hamilton, is dedicated to minimizing funding disparities in tech by investing $25,000‐$100,000 in pre‐seed and seed stage startups led by high-potential founders who are people of color, women, and/or LGBT. Hamilton entered the venture investing world from an unconventional path. As a band tour manager who’s worked on shows with Pharrell and Justin Timberlake, Hamilton started thinking about the venture industry after seeing others like Ellen DeGeneres, Troy Carter (John Legend’s manager), and Scooter Braun (Justin Bieber’s manager) investing in startups.

The full article is here: http://bit.ly/29wQjpP

Crain’s has released an informative piece – “74 opportunities to get the funding your business needs.”

This is the annual directory of Chicago-area venture-capital firms and private-equity firms. The alphabetical directories combined contain more than 70 firms with offices in Cook, DuPage, Kane, Lake, McHenry and Will counties in Illinois plus Lake County, Ind.

Data for most firms include 2015 and 2014 capital, sources of funding, number and dollar amount of investments made in 2015 and 2014, types of investments and the number of local employees. The Excel versions of each list include additional firms that did not appear in print as well as a contacts file with names and titles of more than 130 executives at these firms.

You can find out more here: http://bit.ly/29kcZ8f

In New York, the New York Business Journal is reporting a big decline in New York City venture capital deals for the second quarter of 2016.

The number of venture capital (VC) deals over the course of April, May and June saw a significant decline. According to investment research firm PitchBook Data, the tally of deals in the second quarter of 2016 is at 178 — the fewest number of deals since the fourth quarter of 2011.

You can read the full story here: http://bit.ly/29p1fmY

Evan Vitale – VC News Update!

by

By Evan Vitale

We’ve reached the half-way point in 2016 (can you believe it?), so let’s see what stories are making headlines in the world of venture capital.

The Cincinnati Business Courier has published an article announcing Blue Chip has launches a new venture capital fund.

Blue Chip Venture Co. has raised a $20 million fund to make follow-on investments to fuel growth at companies in which it has already invested.

Blue Chip Managing Director Jack Wyant calls the fund “the only two-year venture capital fund in existence.” Most venture capital funds have a 10-year time horizon. Blue Chip launched its last two funds – the fifth and sixth in its 26-year history – with five-year plans to return all capital to investors. Blue Chip has invested about $1 billion since 1990.

The article can be seen here: http://bit.ly/297lx6a.

Forbes has released an interesting infographic showing which industries attract the most venture capital. Can you guess which ones?

Echoing all of those success stories, software receives the largest slice of the VC pie by a considerable distance, accounting for 36.2 percent (nearly $12 billion) of all investment over the past year. Biotechnology was in second place with 17.3 percent ($5.7 billion) while media and entertainment rounded off the top three with 9.5 percent ($3.2 billion).

Check it out here: http://bit.ly/294C4KC

And, according to Quartz (http://qz.com), a new career in Silicon Valley might be in store for President Barack Obama.

In seven months, Barack Obama will leave the White House as president of the United States. He’s going to need a job. In an interview with Bloomberg on June 13, he hinted at the possibility of joining entrepreneurs and venture capitalists in Silicon Valley.

Obama said “had I not gone into politics, I’d probably be starting some kind of business,” said Obama. “The skill set of starting my presidential campaigns—and building the kinds of teams that we did and marketing ideas—I think would be the same kinds of skills that I would enjoy exercising in the private sector. … The conversations I have with Silicon Valley and with venture capital pull together my interests in science and organization in a way I find really satisfying.”

The story is here: http://bit.ly/2989zsb

Evan Vitale – Venture Capital News!

by

By Evan Vitale

As we are winding down the end of the second quarter, let’s see what stories are making headlines in the world of venture capital.

The Wall Street Journal has published a piece on Russia’s venture capital funds looking abroad.

Russian venture-capital funds are shifting their gaze to outside the country, contributing to an exodus of capital amid an economic crisis and Western sanctions.

A robust startup scene emerged in Russia after the collapse of the Soviet Union, and venture-capital funds followed closely behind. New companies sprung from the scientific and academic communities Russia nourished during the Cold War, including Doroga TV, a vehicle-tracking GPS service, and Kuznech, an app that allows customers to shop by browsing online images. But funding is now looking for better opportunities outside Russia.

The full story can be found here: http://on.wsj.com/28MmrUW

According to the Atlanta Business Chronical, TTV Capital has invested in FinTech startup. TTV Capital led Apruve Inc.’s Series A round of funding that raised $2.2 million in capital.

The company will use the investment to hire employees in sales, marketing and software development. Apruve’s employee count is approaching 10, a company spokeswoman said.

Businesses use Apruve’s technology to manage accounts receivable and provide customers with revolving lines of credit.

Palo Alto, Calif.-based venture capital firm Allegis Capital also participated in Apruve’s round of funding.

The full story is here: http://bit.ly/28Sh1uj

Fortune.com and many other publications have learned that venture capital icon David Morgenthaler, who was largely responsible for the modern venture capital marker, has died.

Morgenthaler passed away at the age of 96 years-old. At the time, he was a patient of the Cleveland Clinic, an organization where he served on the board and finance committees for decades.

More can be found at: http://for.tn/28QKaWJ

So has the first half of 2016 been a good year for venture capital? What’s in store for the next six months, especially with the election looming in November?

Evan Vitale – Venture Capital Headlines

by

By Evan Vitale

What’s new in the world of venture capital news? Here are some of the top stories making the rounds over the past week or so.

Finsmes reports that _Underscore.VC, a Boston, MA-based and newly formed venture capital firm, has closed its $75 million inaugural fund.

The fund – backed by Limited Partners including children’s hospitals, academic institutions, and global foundations – will invest in in Seed-to-A venture rounds of Cloud Intelligence startups.

Co-Founded by John Pearce,  Operating Partner, Michael J. Skok, Investing Partner and C.A. Webb, Community Partner, the firm is built on what it calls “_Cores“, which are curated communities of founders, entrepreneurs, and operators, who are motivated to give back beyond the investment opportunity.

You can catch up on the news here: http://bit.ly/1ty82Ua

Stephen McIntyre will be replaced by Mark Little, the former RTE journalist and presenter, founder and former CEO of Storyful.

He is currently Twitter’s Vice-President of Media for Europe and Africa.

Stephen McIntyre is to join Frontline Ventures, an early stage venture capital firm founded by Shay Garvey and Will Prendergast with offices in Dublin and London.

The story is here: http://bit.ly/24SKC7i

According to the Register-Guard, a new venture capital fund wants to increase money flow to Eugene-Oregon area start-ups.

Early stage venture capital, which has been scarce in the Eugene-Springfield area, may start becoming a bit more plentiful this summer because of a new fund that is trying to reach entrepreneurs in underserved areas in the Pacific Northwest.

In January, entrepreneur and investor Nitin Rai launched Elevate Capital, a Portland-based venture capital firm. The firm’s Elevate Capital Fund aims to raise $10 million from investors in the next 12 months. About $1 million of the $10 million will be raised from Willamette Valley investors, with plans to plow most of it back into the Willamette Valley, said Rai, Elevate Capital’s managing director.

On Thursday, Elevate Capital announced that Meyer Memorial Trust had stepped up as lead investor in the venture fund by investing $2 million.

You can read the rest of the story here: http://bit.ly/1Pw68aO

Evan Vitale – Venture Capital News

by

By Evan Vitale

Here are some venture capital news stories that are making headlines.

The Denver Post has a written a nice piece on the Colorado Venture Summit and how the event puts local tech companies in front of investors.

Meeting and networking is what the annual summit is all about. For those who are committed to a full day of one-on-one sessions, they’ll get up to eight 10-minute sessions with either potential investors or tech companies, said David Gold, the summit’s organizer as well as managing director at Access Venture Partners. But there’s also plenty of time for random meetings, plus the evening events.

While Gold plans to do follow-up with participants, it’s difficult to say whether a meeting led to an actual venture investment. But it’s all linked, he said.

The full article is here: http://dpo.st/22Vc9pg

According to the Minneapolis StarTribune, When I Work – a St. Paul software firm – has finished its biggest round of capital raising by scoring $15 million from investors led by Drive Capital of Columbus, Ohio.

When I Work offers an app (which is growing in popularity) that schedules work at small businesses and temporary jobs. The firm’s executives said they expect to double the number of people at the company to about 200 over the next 18 months and that they are looking for new office space, potentially in Minneapolis. “We’ve got it narrowed down to a handful of locations,” Chief Executive Chad Halvorson said.

The full story is here: http://strib.mn/25NHm2C

The Atlanta Business Chronicle is reporting that a Menlo Park, Calif.-based venture capital firm focused on the technology industry is opening its first office outside of Silicon Valley in Atlanta.

Centerview Capital Technology Management LP is opening an office in Buckhead that will be led by David Dorman, one of the founding partners of Centerview and the former chairman and CEO of Dallas-based AT&T Inc. (NYSE: T).

The article is here: http://bit.ly/28neZHp

Evan Vitale – Venture Capital News!

by

By Evan Vitale

What’s making headlines this week in the area of venture capital? Let’s find out:

The New York Times printed an interesting article on those who avoided seeking venture capital.

Ron Rudzin, an entrepreneur from Queens with a long history in the furniture business, took $350,000 of his own money to write a business plan in 2007 to form his online mattress company, Saatva.

“People who raise money, rather than be self-funded, tend to spend wildly because it’s other people’s money and they throw a bunch of stuff on the wall and see what sticks. I don’t do it that way,” Mr. Rudzin said. “I’m much more meticulous and efficient. I might go a little slower, but in the end I believe I win.”

You can read the full article here: http://nyti.ms/1sLRIOO

The New York Business Journal is reporting Signals Group hopes to tap new venture capital for an overseas expansion.

Signals Group, based near Columbus Circle in Manhattan, delivers intelligence and insights to support product development at major companies. It raised $10 million in a new funding round. The startup raised $15 million less than a year ago.

The full profile is here: http://bit.ly/1TY5KpH

According to YourStory.com, seed stage venture capital fund Romulus Capital announced closing its third fund of over $75 million in commitments. According to the founder, Krishna Gupta (28), the funds were raised from investors in 15 countries, including royal families from the Middle East, conglomerates from Asia, and individuals with strong ties to the Massachusetts Institute of Technology (MIT).

The story is here: http://bit.ly/25CCrBy

Microsoft Ventures is Microsoft’s very own venture capital division. It’s main focus will be on early-stage startup investments. Don’t confuse this with Microsoft’s startup accelerator with the same name- that one’s being re-branded as Microsoft Accelerator.

In Microsoft’s official blog post announcing the change, Nagraj Kashyap, the corporate vice president of the new Microsoft Ventures, says that while the company has done a lot of investment in the past, it has not been focusing on investments in the early stage. What they have been looking at is investing alongside commercial deals. This is where their new venture capital division comes in. This new division will be more like Google Ventures, which takes risks on young companies for a potentially huge return.

You can read more about it here: http://bit.ly/1P8s8s5

Evan Vitale – Latest VC News!

by

By Evan Vitale

Here’s what’s new in the fast-paced world of venture capital:

According to the New York Times, Xfund, a beleaguered venture capital firm that has put money into start-ups like the genetics company 23andMe and the real estate outfit Zumper, is breaking new and belligerent ground in the normally discreet world of technology investors.

A complaint filed on Friday in Santa Clara County Superior Court in California by Hugo Van Vuuren, one Xfund founder, against Patrick S. Chung, the other founder, and the fund itself, includes accusations of secret contract amendments, bullying and schoolyard name-calling.

Mr. Chung called Mr. Van Vuuren a “spiteful moron” and “a trivial person pursuing trivial things” in emails, according to court documents. Mr. Chung also wrote that working with Mr. Van Vuuren was “like working with a retarded person” and that Mr. Van Vuuren would be worth more “dead than alive once we have key-man insurance.”

You can read the rest of the mid-slinging here: http://nyti.ms/27Db8FN

The St. Louis Business Journal, More money is being invested in startups developing blockchain technology, which is behind the bitcoin digital currency.

The amount of money venture capitalists have invested in the first quarter of 2016 — $173 million spread across 39 deals — eclipsed the sum of capital invested in similar companies over the entire second half of 2015.

Some of that money found its way to St. Louis.

Read more about it here: http://bit.ly/1WDu5Fb

Bloomberg.com asks the question: “Is There a Venture Capital Bubble in China?”

Find out here: http://bloom.bg/1NzZbKn

The Financial Post is reporting venture capital surged to a new record in the first quarter while private equity investment contracted modestly on the back of declining oil and gas activity, a new report from the Canadian Venture Capital and Private Equity Association says.

The value of venture capital investments made in Q1 surged to $838 million, nearly double the amount recorded during the same period last year. Growth was driven by large deals in British Columbia and Ontario, plus the $58 million investment made in Manitoba firm, Farmer’s Edge. That deal involved a group of companies led by Japan’s Mitsui & Co.

More details are available here: http://bit.ly/1sBfRIj

 

 

Evan Vitale – Venture Capital News!

by

By Evan Vitale

Here are the latest stories making headlines in the world of venture capital.

The Wall Street Journal is reporting that Asian startups are being hit by a venture capital slowdown.

According to the story, in early February, Yin Sang, a prominent Chinese entrepreneur, sent an email to all 600 employees at his karaoke-booking startup: His firm was running out of money after failing to raise funds and wouldn’t be able to pay staff salaries.

“Our cash flow is almost zero,” the 23-year-old chief executive of Yiqi Chang wrote in the email, reviewed by The Wall Street Journal. “Our company is in a crisis.”

A year ago, Mr. Yin’s Shanghai-based startup was valued at more than $100 million and, in 2014, he made Forbes China’s list of the 30 most successful Chinese entrepreneurs under the age of 30.

You can read the rest of the article here: http://on.wsj.com/24OCdqF

In Cincinnati, Ohio, Mason-based startup ConnXus has secured $5 million from venture capitalists to help accelerate its growth, according to the Cincinnati Enquirer.

Techstars Ventures, Serious Change LP and Impact America Fund are the investors that led the Series “A” funding round for ConnXus, which announced it obtained the money Wednesday. The three venture capital groups were already investors in ConnXus.

The new funding doubled the investments made in ConnXus since the company launched in 2010. CincyTech was among early investors in the firm.

The full story is here: http://cin.ci/1OpcTKV

And, according to ZDNet, HP has announced a new venture capital arm – HP Tech Ventures, which will focus on 3D printing and more.

Based out of Palo Alto, California and Tel Aviv, the Tech Ventures team will be led by HP’s “chief disrupter” Andrew Bolwell, who will report to HP CTO Shane Wall, the Wall Street Journal first reported. HP Tech Ventures will complement the company’s in-house innovation produced by HP Labs, according to Wall.

“The next technology revolution is shifting towards strategic markets that speak to HP’s strengths,” Wall said in a statement. “With our global brand and broad reach into consumer and commercial markets worldwide, HP can help startups bring product to market, build their business and scale in the global marketplace as they grow.”

HP new external investments will come off of its balance sheets, Wall said, rather than through a separate investment fund.

The details are here: http://zd.net/27gqfou