Sequoia Capital Teardown RESEARCH
Total Page:16
File Type:pdf, Size:1020Kb

Load more
Recommended publications
-
The Debate Over Measure Heats up Firefi Ghters, Offi Cials Square Off
www.PaloAltoOnline.com Palo 6°Ê888]Ê ÕLiÀÊÓÊUÊ"VÌLiÀÊ£x]ÊÓä£äÊN xäZ Alto Palo Alto dollars lean right in governor’s race Page 3 The debate over Measure heats up Firefi ghters, offi cials square off page 17 Inside this issue 'BMM3FBM&TUBUF A PUBLICATION OF THE ALMANAC AND PALO ALTO WEEKLY20 10 Pulse 12 Transitions 13 Spectrum 14 Movies 28 Eating Out 32 Puzzles 57 2010 G NArts UN fi lm festival takes on environment Page 24 NSports Stanford football has a lot of Luck Page 34 NHome Rethinking a mature garden Page 45 Perinatal Obstetric Diagnostic Anesthesia Center Packard Center for Stanford Children’s Fetal Health School of Hospital Medicine TOGETHER WHAT DREW US HERE AS DOCTORS, DRAWS US BACK AS PATIENTS. Obstetricians Karen Shin and Mary Parman spend their days caring for pregnant patients and delivering babies. Now that each doctor is pregnant with her fi rst child, the choice of where to deliver is clear: right here where they deliver their patients’ babies, at Lucile Packard Children’s Hospital. “At Packard, every specialist you could ever need is available within minutes, around the clock. When you’ve seen how successfully the physicians, staff and nurses work, especially in unpredictable situations, you instinctively www.lpch.org want that level of care for you and your baby.” To learn more about the services we provide to expectant mothers and babies, visit lpch.org Page 2ÊUÊ"VÌLiÀÊ£x]ÊÓä£äÊUÊ*>ÊÌÊ7iiÞ 1ST PLACE BEST LOCAL NEWS COVERAGE California Newspaper Publishers Association UpfrontLocal news, information and analysis Valley execs support Whitman’s ‘independent’ campaign Despite area’s political leanings, Atherton Republican In Menlo Park, another Silicon debate at the Dominican College in Brown countered that in addition enjoys local fundraising edge over Democrat Jerry Brown Valley city that normally favors San Rafael. -
JMP Securities Elite 80 Report (Formerly Super 70)
Cybersecurity, Data Management & ,7 Infrastructure FEBRUARY 201 ELITE 80 THE HOTTEST PRIVATELY HELD &<%(5SECURITY, '$7$0$1$*(0(17 AND ,7,1)5$6758&785( COMPANIES &RS\ULJKWWLWLSRQJSZO6KXWWHUVWRFNFRP Erik Suppiger Patrick Walravens Michael Berg [email protected] [email protected] [email protected] (415) 835-3918 (415) 835-8943 (415)-835-3914 FOR DISCLOSURE AND FOOTNOTE INFORMATION, REFER TO JMP FACTS AND DISCLOSURES SECTION. Cybersecurity, Data Management & IT Infrastructure TABLE OF CONTENTS Executive Summary ............................................................................................................................ 4 Top Trends and Technological Changes ............................................................................................ 5 Funding Trends ................................................................................................................................ 11 Index by Venture Capital Firm .......................................................................................................... 17 Actifio ................................................................................................................................................ 22 Alert Logic ......................................................................................................................................... 23 AlgoSec ............................................................................................................................................ 24 AnchorFree ...................................................................................................................................... -
Received by the Regents May 21, 2015
THE UNIVERSITY OF MICHIGAN REGENTS COMMUNICATION ITEM FOR INFORMATION Subject: Alternative Asset Commitments Background and Summary: Under a May 1994 Request for Action, the University may commit to follow-on investments in a new fund sponsored by a previously approved partnership provided the fund has the same investment strategy and core investment personnel as the prior fund. Pursuant to that policy, this item reports on the University's follow-on investments with the previously approved partnerships listed below. Sequoia Capital U.S. Venture Fund XV, L.P., a venture capital fund headquartered in Menlo Park, CA, will invest in early and growth stage technology companies located in the U.S. The focus will be on technology companies formed in the western part of the country, particularly California's Silicon Valley. The University committed $6 million to Sequoia Capital U.S. Venture Fund XV, L.P., in January 2015. Related Real Estate Fund II, L.P., is a New York, NY, based fund sponsored by The Related Companies that will invest in assets where the firm will leverage its extensive capabilities and resources in development, construction and real estate management to add value to the investments. The acquisitions will include underperforming assets in need of operational or development expertise, assets or companies with structural ownership issues, foreclosed multi-family assets, and special situations. It is expected the fund will be diversified by property type and geographic location. The University committed $35 million to Related Real Estate Fund II, L.P., in February 2015. GSO European Senior Debt Feeder Fund LP., a New York, NY, based fund sponsored by GSO Capital Partners LP, focuses on privately originated debt investments in healthy mid to large cap European companies with EBITDAs in the range of €50 million to €150 million (-$57 million to $170 million). -
Designing the Internet of Things
Designing the Internet of Things Adrian McEwen, Hakim Cassimally This edition first published 2014 © 2014 John Wiley and Sons, Ltd. Registered office John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom For details of our global editorial offices, for customer services and for information about how to apply for permission to reuse the copyright material in this book please see our website at www.wiley.com. The right of the author to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by the UK Copyright, Designs and Patents Act 1988, without the prior permission of the publisher. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. Designations used by companies to distinguish their products are often claimed as trademarks. All brand names and product names used in this book are trade names, service marks, trademarks or registered trademarks of their respective owners. The publisher is not associated with any product or vendor mentioned in this book. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold on the under- standing that the publisher is not engaged in rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional should be sought. -
Annual Report 2018 – 2019 Contents a Letter to Our Community
AnnuAl RepoRt 2018 – 2019 Contents A Letter to Our Community Dear Friends of Yale Center Beijing, Yale Center Beijing (YCB) is proud to celebrate its fifth anniversary this fall. Since its establishment on October 27, 2014, YCB is Yale University’s first and only university-wide center outside of the United States and continues to serve as an intellectual hub that draws luminaries from China, the U.S., and beyond. During 2018-2019, YCB hosted a variety of events and programs that advanced Yale's mission to improve our world and develop global leaders for all sectors, featuring topics ranging from health and medicine, technology and entrepreneurship, environment and sustainability, to politics, economics, and the arts and humanities. Over the past half-decade, YCB has become a prominent convening space that engages scholars and thought leaders in dialogues that foster openness, connectedness, and innovation. Today, the Center 1 is a key hub for Yale’s global activities, as programming that features Yale faculty, students, and alumni increased from A Letter to Our Community 33% of the Center’s activities in 2014-2015 to nearly 70% in 2018-2019. 2 Looking forward, as YCB aims to maintain and advance its standing as one of the most vibrant foreign university Yale Center Beijing Advisory Committee centers in China, the Center will facilitate and organize programming that: ± Enlighten—Promote interdisciplinary and transnational discourse, through the Yale Starlight Science Series, 4 the Greenberg Distinguished Colloquium, etc., and; Highlights of the Year ± Engage—Convene emerging and established leaders, whether from academia, business, government, or 8 nonprofit organizations, to discuss and tackle important issues in an ever-changing world, through programs Celebrating Five Years at Yale Center Beijing such as the Yale-Sequoia China Leadership Program and the Women’s Leadership Program. -
Corporate Venturing Report 2019
Corporate Venturing 2019 Report SUMMIT@RSM All Rights Reserved. Copyright © 2019. Created by Joshua Eckblad, Academic Researcher at TiSEM in The Netherlands. 2 TABLE OF CONTENTS LEAD AUTHORS 03 Forewords Joshua G. Eckblad 06 All Investors In External Startups [email protected] 21 Corporate VC Investors https://www.corporateventuringresearch.org/ 38 Accelerator Investors CentER PhD Candidate, Department of Management 43 2018 Global Startup Fundraising Survey (Our Results) Tilburg School of Economics and Management (TiSEM) Tilburg University, The Netherlands 56 2019 Global Startup Fundraising Survey (Please Distribute) Dr. Tobias Gutmann [email protected] https://www.corporateventuringresearch.org/ LEGAL DISCLAIMER Post-Doctoral Researcher Dr. Ing. h.c. F. Porsche AG Chair of Strategic Management and Digital Entrepreneurship The information contained herein is for the prospects of specific companies. While HHL Leipzig Graduate School of Management, Germany general guidance on matters of interest, and every attempt has been made to ensure that intended for the personal use of the reader the information contained in this report has only. The analyses and conclusions are been obtained and arranged with due care, Christian Lindener based on publicly available information, Wayra is not responsible for any Pitchbook, CBInsights and information inaccuracies, errors or omissions contained [email protected] provided in the course of recent surveys in or relating to, this information. No Managing Director with a sample of startups and corporate information herein may be replicated Wayra Germany firms. without prior consent by Wayra. Wayra Germany GmbH (“Wayra”) accepts no Wayra Germany GmbH liability for any actions taken as response Kaufingerstraße 15 hereto. -
Private Equity Holdings Disclosure 06-30-2019
The Regents of the University of California Private Equity Investments as of June 30, 2019 (1) Capital Paid-in Capital Current Market Capital Distributed Total Value Total Value Description Vintage Year (2) Net IRR (3) Committed (A) Value (B) (C) (B+C) Multiple (B+C)/A) Brentwood Associates Private Equity II 1979 3,000,000 3,000,000 - 4,253,768 4,253,768 1.42 5.5% Interwest Partners I 1979 3,000,000 3,000,000 - 6,681,033 6,681,033 2.23 18.6% Alta Co Partners 1980 3,000,000 3,000,000 - 6,655,008 6,655,008 2.22 13.6% Golder, Thoma, Cressey & Rauner Fund 1980 5,000,000 5,000,000 - 59,348,988 59,348,988 11.87 30.5% KPCB Private Equity (Legacy Funds) (4) Multiple 142,535,631 143,035,469 3,955,643 1,138,738,611 1,142,694,253 7.99 39.4% WCAS Capital Partners II 1980 4,000,000 4,000,000 - 8,669,738 8,669,738 2.17 14.0% Brentwood Associates Private Equity III 1981 3,000,000 3,000,000 - 2,943,142 2,943,142 0.98 -0.2% Mayfield IV 1981 5,000,000 5,000,000 - 13,157,658 13,157,658 2.63 26.0% Sequoia Private Equity (Legacy Funds) (4) Multiple 293,200,000 352,355,566 167,545,013 1,031,217,733 1,198,762,746 3.40 30.8% Alta II 1982 3,000,000 3,000,000 - 5,299,578 5,299,578 1.77 7.0% Interwest Partners II 1982 4,008,769 4,008,769 - 6,972,484 6,972,484 1.74 8.4% T V I Fund II 1982 4,000,000 4,000,000 - 6,744,334 6,744,334 1.69 9.3% Brentwood Associates Private Equity IV 1983 5,000,000 5,000,000 - 10,863,119 10,863,119 2.17 10.9% WCAS Capital Partners III 1983 5,000,000 5,000,000 - 9,066,954 9,066,954 1.81 8.5% Golder, Thoma, Cressey & Rauner Fund II 1984 -
Venture Capitalists at Work How Vcs Identify and Build Billion-Dollar Successes
Venture Capitalists at Work How VCs Identify and Build Billion-Dollar Successes Tarang Shah Sheetal Shah Venture Capitalists at Work Copyright © 2011 by Tarang Shah and Sheetal Shah All rights reserved. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, record- ing, or by any information storage or retrieval system, without the prior written permission of the copyright owner and the publisher. ISBN-13 (pbk): 978-1-4302-3837-9 ISBN-13 (electronic): 978-1-4302-3838-6 Trademarked names may appear in this book. Rather than use a trademark symbol with every occurrence of a trademarked name, we use the names only in an editorial fashion and to the benefit of the trademark owner, with no intention of infringe- ment of the trademark. President and Publisher: Paul Manning Lead Editor: Jeff Olson Editorial Board: Steve Anglin, Mark Beckner, Ewan Buckingham, Gary Cornell, Morgan Ertel, Jonathan Gennick, Jonathan Hassell, Robert Hutchinson, Michelle Lowman, James Markham, Matthew Moodie, Jeff Olson, Jeffrey Pepper, Douglas Pundick, Ben Renow-Clarke, Dominic Shakeshaft, Gwenan Spearing, Matt Wade, Tom Welsh Coordinating Editor: Jessica Belanger Editorial Assistant: Rita Fernando Copy Editor: Kimberly Burton Compositor: Mary Sudul Indexer: SPi Global Cover Designer: Anna Ishschenko Distributed to the book trade worldwide by Springer-Verlag New York, Inc., 233 Spring Street, 6th Floor, New York, NY 10013. Phone 1-800-SPRINGER, fax 201-348- 4505, e-mail [email protected], or visit http://www.springeronline.com. For information on translations, please contact us by e-mail at [email protected], or visit http://www.apress.com. -
Mutual Funds As Venture Capitalists? Evidence from Unicorns1
Mutual Funds as Venture Capitalists? Evidence from Unicorns1 Sergey Chernenko Josh Lerner Yao Zeng Purdue University Harvard University University of Washington and NBER December 2018 Abstract Using novel contract-level data, we study open-end mutual funds investing in unicorns—highly valued, privately held start-ups—and their association with corporate governance provisions. Larger funds and those with more stable funding are more likely to invest in unicorns. Both mutual fund participation and the mutual fund share of the financing round are strongly correlated with the round’s contractual provisions. Compared to venture capital groups, mutual funds are underrepresented on boards of directors, suggesting less direct monitoring. However, rounds with mutual fund participation have stronger redemption and IPO-related rights, consistent with mutual funds’ liquidity needs and vulnerability to down-valuation IPOs. 1 We thank Francesca Cornelli, Slava Fos, Jesse Fried, Will Gornall, Jarrad Harford, Michelle Lowry, William Mann, John Morley, Ramana Nanda, Clemens Sialm, Morten Sorensen, Ilya Strebulaev, Xiaoyun Yu, and conference and seminar participants at the 2017 LBS Private Equity Symposium, the 2018 NYU/Penn Conference on Law and Finance, the 2017 Southern California Private Equity Conference, the 2018 Stanford Financing of Innovation Summit, the 2018 UNC Private Capital Spring Research Symposium, and the 2018 Western Finance Association meetings. We thank Michael Ostendorff for access to the certificates of incorporation collected by VCExperts. We are grateful to Jennifer Fan for constantly helping us better interpret and code the certificates of incorporation. We thank Quentin Dupont, Luna Qin, Kathleen Ryan, Michael Sibbett, Bingyu Yan, and Wyatt Zimbelman for excellent research assistance. -
Announcement Discloseable Transaction Further
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. ANNOUNCEMENT DISCLOSEABLE TRANSACTION FURTHER INTRODUCTION OF STRATEGIC INVESTORS TO A SUBSIDIARY The Board is pleased to announce that subsequent to the publishing of the voluntary announcement on the introduction of four First Round Strategic Investors to a subsidiary of the Company, AAC Optics (Changzhou) Co., Ltd.* ( 誠瑞光學(常州)股份有限公司 ) (AAC Optics) (previously known as AAC Communication Technologies (Changzhou) Co., Ltd.* (瑞聲通訊科技(常州)有限公司)) on 22 July 2020, AAC Optics, AAC Optics Controlling Shareholders and 18 new independent strategic investors entered into the Capital Increase Agreement and the Shareholders Agreement to further introduce strategic investors to the same subsidiary on 9 October 2020. Pursuant to the terms and conditions of the Capital Increase Agreement, the registered capital of AAC Optics will increase from RMB6,017,638,706 to RMB6,633,518,025, and, AAC Optics has agreed to issue to the Current Round Strategic Investors, and the Current Round Strategic Investors have agreed to subscribe for such entire increase in share capital, an aggregate of 615,879,319 newly issued shares, representing approximately 9.2845% of the equity interest of AAC Optics after the capital increase, at a consideration of RMB1,658,000,000. Upon completion of the Introduction of the Current Round Strategic Investors, the Company will hold 82.0219% of AAC Optics’ equity interest. -
Interview with Alfred Lin from Zappos
Interview with Alfred Lin from Zappos Adrian Bye: Today, I am talking with Alfred. Alfred is the COO of Zappos and we’re going to have, I think, an interesting conversation with Alfred. There’re a couple of topics I’d like to talk with him about. Alfred, thanks for joining us. Alfred Lin: No problem. Thank you. Thanks for having me. Adrian Bye: You want to tell us a little bit about who you are, your background and where you come from? Alfred Lin: Sure. I’m Alfred Lin. I’m currently COO of Zappos.com. We are one of the largest if not the largest retailer of shoes, handbags and apparel on the internet. We really think of ourselves as first and foremost a service company and then a service company that just happens to sell these products. My background – I was born in Taiwan, raised mostly in New York City, went off to college in the Boston Area and came out of the Bay Area for graduate school and then over time, got sucked into a bunch of internet companies. I first met our CEO, Tony Hsieh in college. He was running a pizza business in our dormitory. I used to go down to his pizzeria and basically buy lots of pies, take it upstairs and sold it off by the slice. That’s how we met. After we left college, he came out to the Bay Area and started Link Exchange. I joined about a year after. Seventeen months later after I joined, we sold the company to Microsoft for $265 million and then after that, we raised a small fund from friends and family of Link Exchange, and started investing in a bunch of internet start‐ups. -
Innovation - Technology & Intellectual Property Hardware • Software • Telecoms • Internet • Media • Ip • Life Sciences
2017 EDITION INNOVATION - TECHNOLOGY & INTELLECTUAL PROPERTY HARDWARE • SOFTWARE • TELECOMS • INTERNET • MEDIA • IP • LIFE SCIENCES Alexander Ramsay Unified Patent Court (UPC) P. 31 Joseph Ferretti INTA & PepsiCo P. 32 Donald Rosenberg Qualcomm P. 37 Thibaud Simphal Uber P. 39 Osvaldo Bruno Cavalcante Caxia P. 54 Jean-Michel Malbrancq GE Healthcare Europe P. 52 Francisco Marín Eureka P. 57 Melissa Yang Tujia P. 47 Karl Iagnemma Nutonomy RANKINGS P. 48 EXECUTIVE SUMMARY AMERICAS P.61 EXTERNAL CONTRIBUTORS FROM THE WILD WEST EUROPE P.140 EXPERT VIEWS P.248 ASIA P.231 TO WESTWORLD P.10 Shigeru Miyamoto Argentina, Brazil, Canada, Chile, Colombia, DIRECTORY Nintendo LEADERS Ecuador, Mexico, Peru, Uruguay, USA, FINANCIAL ADVISORS P.265 THE 50 PEOPLE OF THE YEAR Belgium, France, Germany, Italy, Luxembourg, STRATEGY & MANAGEMENT ADVISORS P.267 P. 38 IN IP & IT P.28 Netherlands, Portugal, Russia, Spain, PATENT & TRADEMARK ATTORNEYS P.269 Switzerland, Turkey, UK, China, India, Japan LAW FIRMS P.284 JANUARY 25TH, 2018 PARIS - FRANCE Meet, learn & celebrate the best IP & IT professionals, with unique, international awards ceremony, one to one meetings and conferences. 500 HIGH LEVEL ATTENDEES INCLUDING IP DIRECTORS, GENERAL COUNSEL, IP ADVISORS (LAWYERS AND AGENTS) IN-HOUSE AND IT IN-HOUSE LAWYERS EXPECTED SPEAKERS FOR 2018 METTE ANDERSEN, HEAD OF IP, LEGO JEAN-MARC BRUNEL, IP DIRECTOR, SNECMA GROUPE SAFRAN PHILIPPE CASSAGNE, VP IP & LICENSING, GEMALTO DELPHINE DE CHALVRON, GENERAL COUNSEL IP, L’OREAL CHARLOTTA LJUNGDAHL, GROUP IP DIRECTOR, AIR LIQUIDE PHILIPPE LUCET, VP GENERAL COUNSEL R&D AND IP, NESTLE CONTACTS US www.innovation-ip-forum.com INFORMATION & REGISTRATION Justine Testard [email protected] +33 1 45 02 25 88 EDITO JANDIRA SALGADO JEANNE YIZHEN YIN EXECUTIVE EDITOR MANAGING EDITOR & CO-HEAD OF AMERICAS THE FUTURE IS NOW “We are called to be the architects of the future, not its victims.” - Robert Buckminster Fuller A new era that isn’t really new at all New York, May 3rd 1997.