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I was on a panel last year titled “ The Future of Venture Capital ” with four other panelists who had way more experience in venture capital. In fact, I'm not sure what my credentials were to be on the panel, given my six months ’ experience in the industry. My credibility with the audience fell further based on what I think most people perceived as my naive and wacky comments. All of my co-panelists agreed that venture capital was broken and that we'd likely see half the number of funds in five years. All agreed that this would be a bad thing for entrepreneurs.
SuperAngel/VC Smackdown? Really? - Anything's Possible
Europe’s digital media economy is doing just fine, if investor returns are anything to go by – Lovefilm is only one of 13 online companies which have, in the last three years, exited at valuations over $250 million, according to one of the VCs behind the deal. A recent trend has seen Atlas switching focus away from Europe to Boston and Index, whilst remaining UK based, opening a full-time Bay Area outpost. Mistry tells us: “The industry is increasingly global. We are very much European-centric, but global. A third of our portfolio is based outside of Europe. “These are software businesses – once you’ve built them, they’re pretty scalable on a global basis.
Leaderboard: Europe’s Biggest Tech Exits | paidContent:UK
Jason Kincaid currently works as a writer at TechCrunch. He grew up in Danville, California and later relocated to UCLA in Los Angeles, California, where he studied biology with a minor in ‘Society and Genetics’. You can reach him at jkincaidtc@gmail.com (he has other addresses too, so don’t worry if you have a different one). → Learn More Location based game SCVNGR has raised another $15 million in a funding round led by European VC firm Balderton Capital, with participation from previous investors Google Ventures and Highland Capital Partners. As part of the deal Balderton partner Barry Maloney will be joining the company’s board. This brings SCVNGR’s total funding to nearly $20 million after a $4 million round in December 2009 (and some seed funding before that).
SCVNGR Raises $15 Million At $100MM Valuation
© Journal du Net / Martin Ducrot Alors que les investissements en capital risque sont en repli de 11 % en 2009, ils progressent de 26 % pour les entreprises du Web. 181 millions d'euros ont ainsi été injectés dans l'Internet français en 2009, selon l'indicateur Chausson Finance.
Le bilan du capital risque français en 2009 - Journal du Net e-B
I've read and written about it many times but I think there is one thing which is never loudly spoken about when comparing the EU to Silicon Valley (or the US in general). I decided to make a blog post out of this since my answer over on Quora to a similar question seems to have quite a bit of resonance: "Differences in Entrepreneurial Mindset between the US and Europe" . I personally believe that one of the major drawbacks to venture capital in Europe is chronic under-financing and people skirt around this issue.
Chronic Under-financing of EU Start-ups Driven by Mindset - Babbling VC
Investment research firm CB Insights has released its end-of-year report for 2010, which finds both the fourth quarter and the year overall ending strong. The $6.5 billion in VC funding over 735 deals makes the fourth quarter an eight quarter high on deals and dollars. And overall, the year saw $23.7 billion in funding in 2792 deals - a 14% growth in funding and a 13% growth in deals over 2009. "For those of you looking for a data point that suggests VC is back and on the road to recovery after 2009's tough sledding," the report reads , "the eight quarter high on deals and dollars gives you something to hang your hat on. For those of you who think VC is overheated and we're headed for a bubble, the eight quarter high on deals and dollars gives you something to hang your hat on. Yes - it's all a matter of perspective."
Year-End VC Report Shows Strength of Internet & Early Stage Investment
Most public pension systems do not disclose performance data from the venture capital and private equity funds in which they have invested. The few that deviate from that norm -- CalPERS, CalSTRS, Oregon, etc. -- take great pains to remind viewers that the so-called "J-curve" skews returns for immature funds. After all, the internal rate of return (IRR) of a fund raised in 2009 means about as much as a football team's pre-season record.
Mass. pension discloses PE/VC fund performance data - The Term Sheet: Fortune's deals blog
Levchin and Gurley Say That Next Big Company Will Capture The Interest Graph
Yesterday, at the Goldman Sachs Technology and Internet Conference in San Francisco, Googler and PayPal founder Max Levchin and Benchmark GP Bill Gurley discussed “game-changing technology” and the future of the Web. Emblematic of today’s mindset, they attacked this rather large topic by comparing the strengths and objectives of Google and Facebook, using the latter’s jaw-dropping stats (500+ million users, 1 in every 13 people on Earth logs into Facebook each day) and its promotion of the social graph as a measure of what’s to come. Levchin said that Facebook is fast becoming the new social white pages, i.e. when you don’t know where someone is on the Web, you go to Facebook to find and connect with them. But, in addition to that, he says, the social networking giant is really “the rich white pages,” where you not only locate someone but have the added benefit of finding out what they like, what they read, what their favorite movies are, and so on.Saul Klein Interview
Saul Klein is generally thought of as the top VC in Europe. He's a partner at Index Ventures , which invested in companies like MySQL, Skype , Last.fm and BetFair. Klein got his start in Silicon Valley was later a co-founder of the company that became Lovefilm, which was recently acquired by Amazon for $312 million, and a top executive at Skype before its acquisition by eBay . Pascal-Emmanuel Gobry, SAI: So, you decided to relocate to Tel Aviv for 12 to 18 months.European VCs—Stop Chasing Billion-Dollar Pipe Dreams - Tech Europe - WSJ
This is a guest post by James Mawson, the founder of data and publishing company Global Corporate Venturing . Europe’s venture capital industry is in a slump and should concentrate on the area in which it has shown consistent success: building solid, mid-sized companies worth a bit more than $100 million, rather than chasing billion-dollar pipe dreams. The reason for the slump? Poor overall performance. While a handful of firms have delivered strong returns to investors, the average VC returned -1.3% last year and scraped a miserable 1.6% over the decade, according to the industry’s trade body, the European Private Equity & Venture Capital Association.There is some good news and some bad news in venture capital performance data, released earlier today by Cambridge Associates. The research firm reports that one-year returns from U.S. venture capital rose from 6.4% at the end of Q2 2010 to 8.2% by the end of Q3 2010, based on data from nearly 1,300 funds raised between 1981 and 2010. This reflects public equity market value increases during the time period, and also an increase in VC-backed IPO and M&A activity. There also was a small improvement in three-year returns, albeit from -2.7% at the end of Q2 to -2.06% at the end of Q3 2010 ( note: venture capital return data is always reported on a lag ).