Private Equity Returns Continued to Improve Arsenal Acquires Synchrogenix Arsenal Capital Partners has acquired Synchrogenix, a provider of regulatory writing services to the pharmaceutical industry. Upon closing, Synchrogenix was merged into Arsenal’s existing portfolio company Certara, a drug development and drug safety consultancy acquired by Arsenal this past December. “Having worked with our talented staff to build Synchrogenix from the ground up, I was… Warburg Pincus Acquires Electronic Funds Source Warburg Pincus has entered into an agreement to Electronic Funds Source (EFS), a provider of corporate payment services, from an investor group including First Data Transportation Services, CTP Holdings, and FJ Management. Highlander Acquires Extrusion Ops of Profile Extrusion Highlander Partners has acquired the aluminum extrusion assets of Profile Extrusion Company. RFE and 24/6 Acquire Precision Components Business KPS Capital Partners Acquires Anchor Glass Castle Harlan Acquires Gold Star from Prospect
How to Get a Private Equity Job (Your information is safe with us, we hate spam mail too.) The Banker Blueprint is a proven, step-by-step action plan for landing a high-paying job ininvestment banking, private equity or hedge funds. Just enter your details into the formon the right and tell us where to send your copy. Sign up for The Banker Blueprint today and enjoy: The Banker Blueprint Report: This information-rich 37-page guide gives you aproven action plan for breaking into investment banking, including how to tell yourstory, network, craft a winning resume, and dominate your interviews. "Discover How To Break Into Investment Banking orPrivate Equity, The Easy Way" Get Instant Access Now
Mergers, Acquisitions, Venture Capital, Hedge Funds - DealBook B Going Private 10 Biggest VC Mistakes Our guest blogger, Larry Chiang, is an instructive humorist. If you liked “9 VC’s You’re Gonna Want To Avoid,” you’ll like this submission on some all-important fundraising mistakes to avoid for entrepreneurs. by Larry Chiang Who is the biggest fundraising loser (ever)? Me. And you will benefit from my pain. ** My fundamental thesis is this: ** “Entrepreneurs need to get benefit while temporarily ‘failing’ at the fundraising process”. These definitely fall into the category, “What They Don’t Teach You At Stanford Business School” – yeah I’m turning my pain into GigaOm blog posts and even a book coming out 09-09-09. Why wait for the book, here are my 10 tips. -1- Set aside your ego. The business you gave birth to and nurtured into rocky adolescence will get hammered and torn to shreads by VCs. -2- Know how knowledge flows. It is like heat transfer and the three laws. Entrepreneurs need to get feedback and advice but not get mentored by someone who just reads coverage. Solicit granular advice.
WSJ Weekend Investor Really Misses the Mark on Private Equity | The Gaffin Group Mark Hulbert was busy elbowing his way onto the anti-private equity bandwagon on July 5th with his confusing dispatch “Real Returns: Are Private-Equity Gains Built to Last?” Mr. Hulbert heroically ignores a large body of readily accessible research and data to precariously perch his pejorative premises on quite arguable findings from a single, tax-return driven study [the study, itself, to be a topic of a separate analysis]. As Mr. Hulbert argues against himself across the article, it is difficult to say that he answered the question he originally posed. Hold your hat as we try to keep up with the whipsaw narrative. I have trouble connecting commentaries such as Mr. Second, I note that pundits who broadly condemn the private equity industry never seem to explain why sophisticated institutional investors would bother with the asset class at all – much less clamor for access to top performing funds – if their experience did not justify it. Is private equity perfect?
9 Blunders of VCs Turned Entrepreneur Our guest blogger, Larry Chiang, is an instructive humorist and blogs at Business Week. If you liked “10 Things They Don’t Teach You at Business School“, How to Work a Cocktail Party and “10 VC Mistakes,” you’ll like this submission on some all-important mistakes VCs make when they become entrepreneurs themselves. By Larry Chiang Jumping from venture-capitalist-board-member to “start-up founder and CEO’ is near impossible for the HBSer / GSBer to successfully do. -1- Too self indulgent. Being smarter than a billionaire you met during b-school show-and-tell, does not make you a better entrepreneur. Stop the ego massaging and set aside all 170 IQ points and dumb it down. Look at the biggest hits: “eBay” – pretty retarded selling beanie babies and Pez dispensers in the 90s “Yahoo” – a dumb but cute-funny, pre-orgasmic sound upon discovering a search result on a Stanford server with the same name. “Google” – please. “Duck9″ – are you effen kidding? -3- Too cerebral. -4- Too unproductive. Mr.
Top 9 Venture Capital Interview Questions Venture capital (VC) careers are competitive, with many more interested candidates than open positions. Subsequently, you should only consider a venture capital job after you have many years of successful, relevant, hands-on experience. Venture capitalist Guy Kawasaki put it best when he said, if you were the entrepreneur across the table, "Why would you want advice from someone whose background consists of working in a college bookstore or cranking spreadsheets at an investment bank?" If you have the requisite background, preparing yourself for common questions will help you shine in your venture capital job interview. 1. This is your opportunity to convey your passion for early-stage company activities. 2. 3. 4. 5. Emphasize your ability to look beyond the numbers and read between the lines. This understanding should be central to your response. 7. 8. 9. The Parting ShotThe end of the interview represents the final opportunity to differentiate yourself from the competition.
How does a VC estimate market size? Fifteenth in a series of weekly posts by myself and Nicholas Lovell of Gamesbrief which answer the fifty questions you should ask before raising venture capital. We expect the series to run for a year after which we will collate the posts into a book. You can find the rationale behind the series here, and the list of questions here. We welcome your comments on any and every aspect of what we are doing. There are three things that every VC looks at when they evaluate a company, market, product and team, and I will look at each in my next three posts in the series. The first, and probably most important, evaluation of market size comes from an assessment of the problem the company solves (or entertainment value it brings) and how much people and companies will pay for the solution. ‘Top down’ analysis is a code word for looking at what analysts like Forrester and Gartner have to say about a market. Hopefully this gives you a sense of how we think about market size.
Moneyball—It’s Not Just About Baseball Larry Chiang9/28/11 Are we trying to sell jeans here or are we trying to win baseball games?—Billy Beane, Oakland A’s General Manager Baseball scouts used to judge players on looks. Moneyball, as a method, revolutionized the evaluation of baseball talent. It turns out that VCs pick entrepreneurs using a highly parallel method. VCs are big fan boys of Moneyball. This is how VCs use Moneyball against entrepreneurs: 1. I studied engineering. Now, VCs test you via the mediocre intro. 2. Baseball GMs have all sorts of ways to character compass a player. VCs like to ‘open field interrogate’ an entrepreneur. Similarly, baseball GMs will treat a player they’re on the fence about with extreme kindness to evaluate them. You see, VCs have a fraction of the domain expertise that your average Stanford CS Major intern has. How you handle the VIP treatment from the VC or the GM is going to impact how they evaluate you in the “kill ‘em with kindness” maneuver. 3. These bird-dogs get them deal flow. 4. 5.
How To Find A "Damn!" Startup Phin Barnes is a principal at First Round Capital, a venture capital firm that backs some of today's buzziest startups, like Fab, Uber, Turntable.fm and GroupMe. Before that, he worked for two startups. One was a success; the other was an utter failure. Both experiences taught him how to interact with entrepreneurs and how to pick startups for First Round's portfolio. He tells us entrepreneurs get to make three choices: The ideaTheir cofounderTheir investors When you don't pick all three of those things correctly, your startup doesn't stand a very good chance. Barnes also says he looks for a "damn factor" in startups. Produced By: Kamelia Angelova & Robert Libetti Don't Miss: • Privately, Investors Admit There's Big Bubble In Tech Startups • The 10-Year Shakeout In The VC Industry • Suster: Group Texting Companies Are Doomed • Mark Suster: Here's How Entrepreneurs Should Be Raising Money Now