DOCSLIB.ORG

July 2021 Monthly Update

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Sustainable Technology and Infrastructure Monthly Market Update // July 2021 Performance of Key Market Indices1 200% 150% 91.9% 100% 36.6% 50% 33.2% 34.4% 0% Jul-20 Sep-20 Nov-20 Jan-21 Mar-21 May-21 Jul-21 NASDAQ Clean Edge Green Energy MSCI World Index NASDAQ Composite S&P 500 Index Performance1 July Ending Versus First Day of the July YTD CY 2020 52 Wk High 52 Wk Low MSCI World Index 1.7% 14.1% 14.1% (0.7%) 33.9% NASDAQ Composite 1.2% 13.8% 43.6% (1.1%) 38.0% S&P 500 2.3% 17.0% 16.3% (0.6%) 35.8% NASDAQ Clean Edge Green Energy (3.4%) (4.7%) 182.4% (24.1%) 91.9% Denotes Nomura / Nomura Notable Recent Transactions & Capital Raises Greentech Transaction Date Target Acquirer Transaction Description EQT, a purpose-driven global private equity firm, acquired Jul. 14 Covanta EQT Corporate M&A Covanta, an operator of waste-to-energy facilities, for $5.3bn Transactions Shell signed an agreement to acquire Inspire Energy, a U.S.- Jul. 27 Inspire Energy Shell based residential renewable energy retailer, for an undisclosed amount Date Company Transaction Description Rivian, a U.S.-based electric vehicle start-up and manufacturer, raised $2.5bn led by Jul. 23 Rivian Amazon, Ford and T. Rowe Price Capital Raises Redwood Materials, a U.S.-based manufacturer of recycled batteries, raised $700mm Jul. 28 Redwood Materials led by T. Rowe Price, Goldman Sachs Asset Management, Baillie Gifford, CPPIB and Fidelity Date Company Transaction Description Ivanhoe Capital Acquisition Corp. offered to acquire SES, a Massachusetts-based Jul. 13 SES manufacturer of Li-metal systems, at a pro forma equity value of $3.3bn SPAC Transactions Reinvent Technology Partners Y offered to acquire Aurora, a California-based developer Jul. 15 Aurora of self-driving technology for passenger cars and trucks, at a pro forma equity value of $12.0bn About Nomura Greentech Nomura Greentech is a fully integrated investment banking team within Nomura which provides M&A and strategic advisory services and raises capital for sustainable technology and infrastructure clients, globally. The team focuses exclusively on clients which are using 21st century technologies to accelerate the transformation of our core infrastructure systems – energy, transportation, food, water and waste – to be lower carbon, more efficient and digitally networked. Nomura Greentech connects high-growth leading innovators with large global incumbents and capital providers, and since its founding in 2009 has closed over 160 transactions with sustainable technology and infrastructure companies and investors. Source: FactSet, SEC filings and third-party providers. 1 1. Performance does not include reinvestment of dividends. Select Recent Sustainable Technology & Infrastructure M&A Transactions (1/4) Corporate Transactions Transaction Multiple1 Transaction Date Target Acquirer Value ($mm) Subsector Transaction Description Revenue EBITDA EnviDan, a water solutions company, acquired VA VA INGENJÖRERNA, a Sweden-based high-tech Jul. 1 EnviDan ND Water ND ND INGENJÖRERNA water and sewage systems specialist, for an undisclosed amount EQT Infrastructure acquired Cypress Creek Cypress Creek Renewables, a U.S.-based utility-scale solar Jul. 4 EQT Infrastructure ND LCI ND ND Renewables development platform, from HPS Investment Partners and Temasek for an undisclosed amount Platinum Equity, a global investment firm, acquired Solenis, a leading global producer of Jul. 6 Solenis Platinum Equity $5,250 Water ND ND specialty chemicals for water treatment industries, for $5.3bn Electrical Components International, a supplier of electrical components for diversified industrial Electrical markets, acquired Promark Electronics, a Canada- Advanced Jul. 6 Promark Electronics Components ND based manufacturer of cable and ND ND Transportation International electromechanical assemblies used by commercial electric vehicles, for an undisclosed amount BASF, a global chemicals company, offered to Environmental acquire Zodiac Enterprises, a precious metals and Jul. 6 Zodiac Enterprises BASF ND ND ND Services industrial scrap recycler, for an undisclosed amount Bentley Systems, an infrastructure engineering software company, acquired Arhus Geosoftware, Jul. 7 Arhus Geosoftware Bentley Systems ND Water ND ND a Denmark-based geophysical software provider, for an undisclosed amount Hull Street Energy, a middle-market private equity firm focused on energy, acquired the Foundation Solar management team and development pipeline of Jul. 7 Hull Street Energy ND LCI ND ND Partners Foundation Solar Partners, an independent renewable development company, for an undisclosed amount Wienerberger, an international supplier of building materials and infrastructure solutions, acquired Cork Plastics & Jul. 9 Wienerberger ND Water Cork Plastics and FloPlast, two rainwater and ND ND FloPlast drainage solutions companies, for an undisclosed amount Circon Environmental, a waste management firm, acquired Kinderhook portfolio companies Chemtron Chemtron Corporation and KilnDirect, Inc., each Circon Environmental Jul. 12 Corporation, ND dedicated to the engineering and processing of ND ND Environmental Services KilnDirect. Inc. non-hazardous and hazardous waste streams to create fuel replacements for traditional natural gas and coal, for an undisclosed amount MAX Environmental, an environmental treatment MAX Environmental Environmental and disposal company, acquired LEI, Inc., a Jul. 13 LEI, Inc. ND ND ND Holdings, Inc. Services recycling and waste management solutions company, for an undisclosed amount CrescoNet, a provider of advanced metering infrastructure and Internet of Things solutions for Smart Earth electric, water and gas utilities, acquired Smart Jul. 13 CrescoNet ND Water ND ND Technologies Earth Technologies, a U.S.-based developer, owner and operator of onsite solar energy systems, for an undisclosed amount Source: FactSet, Press releases, SEC filings and Third-party providers. 1. Transaction multiples represent EV/LTM Revenue and EV/LTM Adj. EBITDA. 2 Select Recent Sustainable Technology & Infrastructure M&A Transactions (2/4) Corporate Transactions Transaction Multiple1 Transaction Date Target Acquirer Value ($mm) Subsector Transaction Description Revenue EBITDA CenterOak Partners, a Dallas-based private equity firm, acquired HK Solutions Group, a provider of wastewater and stormwater Jul. 14 HK Solutions Group CenterOak Partners ND Water ND ND infrastructure maintenance services for municipal and industrial customers, for an undisclosed amount Environmental EQT acquired Covanta, an operator of waste-to- Jul. 14 Covanta EQT $5,300 2.8x 16.1x Services energy facilities, for $5.3bn EVgo, an EV fast charging network provider, Advanced Jul. 14 Recargo EVgo $25 offered to acquire Recargo, a California-based ND ND Transportation developer of e-mobility software, for $25mm Woven Planet, Toyota's transportation technology Advanced investment arm, acquired Carmera, a New York- Jul. 14 Carmera Woven Capital ND ND ND Transportation based developer of HD mapping software, for an undisclosed amount Green Meadow Sustainable Solutions, a Riverbend Green Meadow nonhazardous solid waste disposal provider, Environmental Jul. 15 Environmental Sustainable ND acquired Riverbend Environmental Services, a ND ND Services Services Solutions waste management service provider, for an undisclosed amount Ahlström Capital, a family-owned investment Metso Outotec's Environmental company, acquired the waste recycling business Jul. 16 Waste Recycling Ahlström Capital ND ND ND Services of Metso Outotec, a manufacturer and supplier of Business mining equipment, for an undisclosed amount Luminar Technologies, a provider of LiDAR sensors for self-driving cars, offered to acquire Luminar Advanced Jul. 19 OptoGration ND OptoGration, a Massachusetts-based designer ND ND Technologies Transportation and manufacturer of indium gallium arsenide (InGaAs) chips, for an undisclosed amount HEPACO, a provider of environmental and Environmental emergency response services, acquired Environmental Jul. 19 Management HEPACO ND Environmental Management Alternatives, a ND ND Services Alternatives provider of hazardous waste and recycling services, for an undisclosed amount Waste Connections, a U.S.-based waste handling and recycling company, offered to acquire ACT Environmental Jul. 20 ACT Disposal Waste Connections ND Disposal, an U.S.-based leading roll off container ND ND Services delivery and construction debris disposal- company, for an undisclosed amount ChargePoint, a California-based provider of Advanced electric vehicle charging networks, offered to Jul. 20 has-to-be ChargePoint $295 ND ND Transportation acquire has-to-be, a Austria-based developer of e- mobility software, for $295mm Mercedes Benz offered to acquire Yasa, a U.K.- Advanced Jul. 22 Yasa Mercedes Benz ND based manufacturer of electric motors, for an ND ND Transportation undisclosed amount Uber Freight, the logistics business of Uber, Advanced offered to acquire Transplace, a Texas-based Jul. 22 Transplace Uber Freight $2,250 ND 22.5x Transportation operator of transportation and supply chain management, for $2.3bn Source: FactSet, Press releases, SEC filings and Third-party providers. 1. Transaction multiples represent EV/LTM Revenue and EV/LTM Adj. EBITDA. 3 Select Recent Sustainable Technology & Infrastructure M&A Transactions (3/4) Corporate Transactions Transaction Multiple1 Transaction Date Target Acquirer Value ($mm) Subsector Transaction Description Revenue EBITDA Magna, a provider of mobility technology, Advanced
Recommended publications
  • Real Estate Pledge Funds: an Alternative in the Alternative Space

    Real Estate Pledge Funds: an Alternative in the Alternative Space

    2013 Real Estate Pledge Funds: An Alternative in the Alternative Space THE CHALLENGING FUND-RAISING ENVIRONMENT of Background and Structure the past few years for the alternative asset market has drawn Pledge funds are often contractual arrangements taking the increasing attention to fund-raising alternatives, including a form of individual “investment” or “participation” agree- revival of interest in “pledge fund” structures.1 Pledge funds, ments between the sponsor and each investor. Pledge funds once more popular as precursors to true blind pool funds, can also be structured as sponsor-managed limited partner- UPDATE fell out of favor during the frothy fund-raising period of the ships or LLCs, with the participating investors admitted as mid-2000s. However, as fund sponsors have seen the fund- limited partners or members. Whether a pledge fund is raising market tighten and investors increase their interest structured as a contractual arrangement or as a partnership in “direct” investments, a market has begun to develop for or another vehicle, a new vehicle would typically be formed pledge funds. These fund structures can present an attrac- to facilitate each investment, admitting only those investors tive midpoint between the direct investment model and a that have opted in to make the investment. Investors that fully committed blind pool, enabling sponsors to have some opted out of the investment are therefore shielded from any amount of certainty in funding their deals and allowing in- exposure resulting from an investment they do not make. vestors to retain discretion over their investment decisions by being able to opt in or opt out on a deal-by-deal basis.
  • Pt1~~'~ Sillman, Joseph Blalk, John Vl- I\Orkmg 36 Hours and the Next Team Now

    Pt1~~'~ Sillman, Joseph Blalk, John Vl- I\Orkmg 36 Hours and the Next Team Now

    Search for school planetarium director continues left for a teachmg pOSitIOn at mechamcal abIlIty, ImagInatIOn of the Community Performmg moo the curricula for elementary, By Margie Reins Smith aren't scheduled for any tIme Macomb CommunIty College He and creatIvIty for development of Arts Center and dedicated on middle and high school students StaN Writer soon - perhaps not until Septem- teaches phySICSand astronomy. programs, and a teachers' certIfi- Oct 27, 1982. Director Tim m Grosse Pomte. Planetariums are supposed to ber The $225,000 bUlldmg,which "It was an excltmg thmg," said Grosse Pomte IShavmg trouble cate. Skomeczny was hired away from Bob Thomson, director of the be dark Not 24 hOUl& a day, how. seats 36 people and features a Robert Welch, director of Secon- findmg another dIrector Accord- ever Not locked up tIght, wIth- SpItz projector and a 24-foot Roosevelt High School m Wyan- mg to VIncent LoCIcero, presI- planetarIUm at Adler Elemen- dotte, which had been forced to dary Curriculum In Grosse out VISltOls,wIthout dllectOl or dome, was constructed With dent of the Grosse Pomte school tary School m Southfield smce It close Its planetanum because of Pomte "I have nothmg but money flom the estate of BenJa board, planetarIum directors are opened m 1968, said he backed students the system's financial troubles praise for what has happened Grosse Pomte's foul and a-half mm Long a rare breed The pOSItIOnIS a mto the pOSitIOn "I taught as SkOnIeczny began an ambItIous there " The publIc school faclhty, one very speCialIzed field, Involvmg tlonomy m OhlO for five years year-old planetanum at NOlth senes of commumty programs The faCIlItywas closed last Au.
  • STRABAG SE March 28, 2012 Hans Jörg Klingelhöfer STRABAG AG, Vienna Commercial Manager Railway Construction

    STRABAG SE March 28, 2012 Hans Jörg Klingelhöfer STRABAG AG, Vienna Commercial Manager Railway Construction

    www.strabag.com STRABAG SE March 28, 2012 Hans Jörg Klingelhöfer STRABAG AG, Vienna Commercial Manager Railway Construction 2 2 © STRABAG SE (2/2012) STRABAG AT A GLANCE Segments Building Construction & Transportation Special Divisions & Civil Engineering Infrastructures Concessions Housing Roads, Railways, Earthworks Tunnelling Hydraulic Engineering, Waterways, Commercial and Industrial Facilities Ground Engineering Dyking and Paving Public Buildings Landscape Architecture and Develop. Real Estate Development Production of Prefabricated Elements Large-Area Works Infrastructure Development Civil Engineering Sports & Recreational Facilities Operation/Maintenance/Marketing Bridges Protective Structures of PPP projects Power Plants Sewer Systems Environmental Technology Production of Construction Materials Property & Facility Services Bridges and Railway Construction Railway Construction International Operations, across Specialty foundation engineering Offshore wind various business units Strong brands 3 © STRABAG SE (2/2012) SUCCESS FACTORS: EXISTING COUNTRY ORGANISATIONS Highlights Overview of STRABAGs key markets Core markets #1 in Austria, Germany, Poland, Czech Republic, Slovakia and Hungary Growth markets More than 70% of group output from regions where STRABAG holds a market position among the top 3 Increased focus on Middle East, India and Asia #1 #1 Intensifying activities in niche markets (e.g. #1 Environmental Technology, etc.) #1 #2 #1 #1 Output volume by region 2010 #3 Re s t of World Re s t of
  • Strabag Se Investor Presentation

    Strabag Se Investor Presentation

    STRABAG SE INVESTOR PRESENTATION JANUARY 2020 DISCLAIMER This presentation is made by STRABAG SE (the "Company") solely for identified by words such as "believes“, "expects”, "predicts”, "intends”, use at investor meetings and is furnished to you solely for your "projects”, "plans”, "estimates”, "aims”, "foresees”, "anticipates”, "targets”, information. and similar expressions. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company or information This presentation speaks as of January 2020. The facts and information from third party sources, contained in this presentation are based on contained herein might be subject to revision in the future. Neither the current plans, estimates, assumptions and projections and involve delivery of this presentation nor any further discussions of the Company uncertainties and risks. Various factors could cause actual future results, with any of the recipients shall, under any circumstances, create any performance or events to differ materially from those described in these implication that there has been no change in the affairs of the Company statements. The Company does not represent or guarantee that the since such date. None of the Company or any of its parents or subsidiaries assumptions underlying such forward-looking statements are free from or any of such person's directors, officers, employees or advisors nor any errors nor do they accept any responsibility for the future accuracy of the other person (i) accepts any obligation to update any information opinions expressed in this presentation. No obligation is assumed to contained herein or to adjust it to future events or developments or (ii) update any forward-looking statements.
  • The Pe & M&A Quarterly

    The Pe & M&A Quarterly

    JUNE 2020 JUNE 2020 | ISSUE 4 THE PE & M&A QUARTERLY Quarterly News, Trends and Developments Off the Record “The COVID-19 pandemic has adversely affected all sectors in India and across the globe, except a few. Though initially it was expected that the pandemic would end in a few months, it appears that it will continue for a longer period. Many PE firms and strategic investors have paused or deferred or slowed down their investment plans for the next 6 to 8 months. However, there are exceptions in case of a few. The deal making activity in India appears uncertain for the remainder of this year. On the M&A side, domestic deals are being evaluated. It is getting harder to close transactions in view of mismatch in expectations of the seller and buyer. The present situation has forced them to realign their objectives and expectations. In signed deals, material adverse change clauses are being evaluated, and in new deals it is being made as exhaustive as possible to ensure possible exit in case of change in environment. The overall structure of doing deals is going through a change and the focus is shifting to value creation and sustainability. There is a reasonable possibility that towards the end of the year, if we return to some sense of normalcy, there will be a significant increase in M&A and PE activity.” Satish Kishanchandani, Managing Partner FEATURED JUDGEMENT Banyan Tree Growth Capital vs Axiom Cordages Limited and Ors. 1 ISSUE 4 JUNE 2020 LEGAL UPDATES NON-FATF MEMBERS ALLOWED TO REGISTER AS CATEGORY I-FPI SEBI Updates April 07, 2020: The Securities and Exchange Board of India (“SEBI”) has relaxed the rules with respect to SNAPSHOT offshore funds seeking to get registered under the • For all relevant COVID-19 relaxations in “properly regulated” Foreign Portfolio Investor (“FPI”) compliances permitted by SEBI, visit our category.
  • Interim Report January–March 2011 31 MAY 2011 Strabag SE Interim Report January–March 2011 Content S C M Figures Key I Share S CEO Notes

    Interim Report January–March 2011 31 MAY 2011 Strabag SE Interim Report January–March 2011 Content S C M Figures Key I Share S CEO Notes

    InterIm report January–march 2011 31 MAY 2011 cONTENT KEY FIgURES 3 CEO ´S REVIEW 4 I MPORTANT EVENTS 5 SHARE 6 M ANAgEMENT REPORT JANUARY-MARcH 2011 7 S EgMENT REPORT 10 c ONSOLIDATED INTERIM FINANcIAL STATEMENTS 13 NOTES 18 S TATEMENT OF ALL LEgAL REPRESENTATIVES 26 ARCH 2011 M PORT JANUARY– Re M I R E E INT S STRABAG Key fIgures Key fInancIal fIgures CHANGE € Mln. Q1/2011 Q1/2010 IN % 2010 Output volume 2,309.25 1,837.38 26 % 12,777.00 Revenue 2,210.04 1,788.45 24 % 12,381.54 Order backlog 15,176.99 15,634.71 -3 % 14,738.74 Employees 72,363 68,318 6 % 73,600 Key earnIngs fIgures CHANGE € Mln. Q1/2011 Q1/2010 IN % 2010 EBITDA -59.80 -46.02 -30 % 734.69 EBITDA margin % of revenue -2.7 % -2.6 % 5.9 % EBIT -145.38 -149.89 3 % 298.95 EBIT margin % of revenue -6.6 % -8.4 % 2.4 % Profit before taxes -148.59 -164.40 10 % 279.27 Net income -116.87 -128.65 9 % 188.38 Earnings per share -1.03 -1.03 0 % 1.53 Cash-flow from operating activities -294.12 -117.35 -151 % 690.42 ROCE in % -1.8 % -2.1 % 5.4 % Investments in fixed assets 74.75 102.90 -27 % 553.84 Net income after minorities -117.53 -117.83 0 % 174.86 Net income after minorities margin % of revenue -5.3 % -6.6 % 1.4 % ARCH 2011 M Key balance sheet fIgures PORT JANUARY– Re M CHANGE I R € Mln.
  • STRABAG PFS 2018 with Business Remaining Stable at Previous Record Level

    STRABAG PFS 2018 with Business Remaining Stable at Previous Record Level

    Press release STRABAG PFS 2018 with business remaining stable at previous record level Revenue stable at € 1.1 billion in 2018 Contact New market segments entered and customer portfolio expanded STRABAG Property and Facility Non-organic growth in Germany and abroad Services GmbH Corporate Communications Tel. +49 69 13029-1122 Frankfurt, 28 May 2019 STRABAG Property and Facility [email protected] Services GmbH (STRABAG PFS), together with its subsidiaries and international companies, closed the 2018 financial year with total revenue of € 1.12 billion and unchanged from the record level of the previous year. € 1.00 billion of this was generated in Germany (2017: € 994 million). Technical facility management and building management accounted for € 625 million of this (2017: € 596 million), infrastructural facility services and industrial services for € 303 million (2017: € 309 million) and real estate management/property management for € 75 million (2017: € 84 million). Outside Germany, STRABAG PFS increased its revenue to € 115 million (2017: € 112 million). A total of 12,781 people/headcounts (2017: 13,748) worked for the industrial and property service provider in Germany and abroad as at 31 December 2018. In Germany alone, there were 10,298 employees as at the end of the reporting period (2017: 11,704). Stable business with new and existing customers With the UniCredit deal, STRABAG PFS obtained the biggest property portfolio tendered on the German market in 2018. The property and industrial service provider also expanded contracts with existing customers (e.g. DFS Deutsche Flugsicherung, Airbus) and gained new customers (e.g. DEMIRE, IMMOFINANZ, Nordex Energy) in 2018.
  • Suppliers, Oems Ride Ups and Downs COMING SOON

    Suppliers, Oems Ride Ups and Downs COMING SOON

    20121119-NEWS--0001-NAT-CCI-CD_-- 11/16/2012 6:14 PM Page 1 ® www.crainsdetroit.com Vol. 28, No. 48 NOVEMBER 19 – 25, 2012 $2 a copy; $59 a year ©Entire contents copyright 2012 by Crain Communications Inc. All rights reserved Page 3 Keeping up with the market: Makeover for Ann Arbor inn Duggan: City on wrong road Survey says: Health care Detroit costs rise, but more slowly Medical Good management, not Detroit Works Center CEO Mike Duggan Seneca Partners split is not yet or EFM, is what Detroit needs creates more VC options a declared candidate BY CHAD HALCOM the state to take over Belle for Detroit CRAIN’S DETROIT BUSINESS Isle Park at a $6 million sav- mayor, but Second Stage Extra he says a If Mike Duggan gets to ings to the city, in part be- turnaround cast his own role as a can- cause it did not adequately ‘is not as far didate in next year’s De- address a cleanup plan for away as it neighborhood city parks. appears.’ troit mayoral race, it would likely be as the He thinks a state-appointed turnaround expert who emergency financial man- thinks the current turn- ager is all wrong for the around strategy isn’t work- city, wouldn’t take such a ing. position if asked, and won’t He opposes the 30-year comment on reports that Logistics firm finds it pays he’s been asked. to move into staffing, lease proposal in September for He finds it “hard to imag- Page 11 ine anything more mishan- dled” than the Detroit Innovation center aims to See Duggan, Page 22 boost small manufacturing, Page 13 VIDEO Mike Duggan on core issues facing Detroit, crainsdetroit.com/duggan Crainsdetroit.com: Come in, look around next week NATHAN SKID/CRAIN’S DETROIT BUSINESS Crain’s Detroit Business is having a holiday open house! Online, that is.
  • Informissue 17 May 2009

    Informissue 17 May 2009

    informissue 17 may 2009 STRABAG CONSTRUCTION LOGISTICS IN THE LIMELIGHT BLT LICENCE TO LEAD PERSONNEL DEVELOPMENT BASEWORK PAR EXCELLENCE GOTTHARD TUNNEL THE MAGAZINE OF STRABAG SE Editorial inform 17 EDITORIAL DEAR EMPLOYEES, LADIES AND GENTLEMEN, Hans Peter Haselsteiner CEO of STRABAG SE The reason for the ongoing economic crisis being so frightening markets in all geographical directions. Secondly, our equity capital is that we – magniloquent finance ministers, confident central bank resources will enable us, even under the self-imposed strategy of governors and professors of the economy included – still don’t have cautious investment, to focus on certain areas, like for example the any good and reliable ideas on how to overcome it or to at least promotion of the off-shore wind sector. Construction logistics and soften its blow. All that has been done so far and most of what is transport, i.e. the BLT Division, which features in our cover story, is going to be initiated are the well-meant attempts at putting up some another such focus. Alfred Zimmermann and his experienced team resistance without knowing the direction in which the “crisis monster” of experts are in a position to achieve considerable cost savings by will move. And, there is no proof at all that it will show even the means of applying well thought out logistics concepts – provided slightest reaction to the defensive measures taken by the three that the operating colleagues want and support this. Thirdly, we can strongest “knights” we have, namely the state, the central bank bank on our efficient organizational structure, in the form of an ideal and international institutions.
  • NVCA 2021 YEARBOOK Data Provided by Dear Readers

    NVCA 2021 YEARBOOK Data Provided by Dear Readers

    YEARBOOK Data provided by Credits & Contact National Venture Capital Association NVCA Board of Directors 2020-2021 (NVCA) EXECUTIVE COMMITTEE Washington, DC | San Francisco, CA nvca.org | [email protected] | 202-864-5920 BARRY EGGERS Lightspeed Venture Partners, Venture Forward Chair Washington, DC | San Francisco, CA MICHAEL BROWN Battery Ventures, Chair-Elect ventureforward.org | [email protected] JILL JARRETT Benchmark, Treasurer ANDY SCHWAB 5AM Ventures, Secretary BOBBY FRANKLIN President and CEO PATRICIA NAKACHE Trinity Ventures, At-Large JEFF FARRAH General Counsel EMILY MELTON Threshold Ventures, At-Large JUSTIN FIELD Senior Vice President of Government MOHAMAD MAKHZOUMI NEA, At-Large Affairs MARYAM HAQUE Executive Director, Venture AT-LARGE Forward MICHAEL CHOW Research Director, NVCA and PETER CHUNG Summit Partner Venture Forward DIANE DAYCH Granite Growth Health Partners STEPHANIE VOLK Vice President of Development BYRON DEETER Bessemer Venture Partners RHIANON ANDERSON Programs Director, Venture SCOTT DORSEY High Alpha Forward RYAN DRANT Questa Capital CHARLOTTE SAVERCOOL Senior Director of PATRICK ENRIGHT Longitude Capital Government Affairs STEVE FREDRICK Grotech Ventures MICHELE SOLOMON Director of Administration CHRIS GIRGENTI Pritzker Group Venture Capital DEVIN MILLER Manager of Communications and JOE HOROWITZ Icon Ventures Digital Strategy GEORGE HOYEM In-Q-Tel JASON VITA, Director of Programming and CHARLES HUDSON Precursor Ventures Industry Relations JILL JARRETT Benchmark JONAS MURPHY Manager of Government Affairs
  • Leap of Confidence Primagest Stay Relevant in a Changing World Deal-By-Deal Fundraising Is Great in Theory, but Often Difficult in Practice Page 7 Page 14

    Leap of Confidence Primagest Stay Relevant in a Changing World Deal-By-Deal Fundraising Is Great in Theory, but Often Difficult in Practice Page 7 Page 14

    Asia’s Private Equity News Source avcj.com January 20 2015 Volume 28 Number 03 EDITOR’S VIEWPOINT Slower growth in China does not mean fewer opportunities for PE Page 3 NEWS Alibaba, Carlyle, CDC, CPPIB, Hamilton Lane, IDG, India Value Fund, Multiples, OTPP, Vision Knight, SoftBank, TA Associates, Sequoia, Tiger Global, Yunfeng Page 4 DEAL OF THE WEEK Macro headwinds blow Peoplebank off course Page 13 PORTFOLIO J-Star helps Japan’s Leap of confidence Primagest stay relevant in a changing world Deal-by-deal fundraising is great in theory, but often difficult in practice Page 7 Page 14 FOCUS DEAL OF THE WEEK Blood on the street Bang for their buck China’s mobile taxi-booking app battle Page 11 ChrysCapital nets 2x return on ING Vysya Page 13 4th Annual Private Equity & Venture Forum Indonesia 2015 24 March, Grand Hyatt Jakarta GLOBAL PERSPECTIVE, LOCAL OPPORTUNITY avcjindonesia.com SIGN UP NOW! Volatility, Opportunities and Jokonomics: AND US$200 A new landscape for PE (until 6 FEB only)SAVE We are delighted to bring your attention to the NEW speakers already confirmed for the 4th Annual AVCJ Indonesia Forum. Taking place on 24 March 2015 in Jakarta, this year’s agenda will adopt a lively and interactive format, addressing the significant potential as well as challenges PE is facing in this unique but volatile market. Join local and regional private equity leaders to debate whether Indonesia is still THE hot market in Southeast Asia and how deal activity can be increased over the next 12 months. NEW speakers just confirmed include: Wilson
  • CEE Equity Strategy | Equity | CEE 2Q 2021

    CEE Equity Strategy | Equity | CEE 2Q 2021

    Erste Group Research CEE Equity Strategy | Equity | CEE 2Q 2021 CEE Equity Strategy Recovery tangible - question not if, but when Henning Eßkuchen Earnings growth needed as answer to most pressing issues – both rising +43 (0)50 100 19634 yields and the hope of a continued recovery have to find their justification in [email protected] further rising earnings growth. Inflation and rising yields – for now, inflation has a temporary touch, rising long-term yields can well be read as confirmation of the growth outlook. Not an individual issue – spreads to Bunds are not rising, with the exception of Turkey and partially Czechia. Impact via steepening slope of yield curves – would confirm the outlook for equities, qualifying this asset class as an inflation hedge. Financials might gain in outlook, sector rotation towards cyclical exposure is finding further support. Continued recovery out of pandemic situation – vaccination progress as a prerequisite for recovery remains slow, with Serbia and Hungary taking the lead. Containment measures remain at stable, burdening levels. Economic and corporate earnings growth – the recovery outlook is stabilizing, but some postponement into 2022 is becoming visible. CEE is leading in earnings growth momentum, with EPS in a strong trend. Poland has the Contents strongest momentum in CEE. Earnings growth needed as answer to most Valuation – a sound recovery is highly priced in. Vulnerability comes via the pressing issues 3 Continued recovery out of pandemic risk recovery continuing quickly enough; any delay/postponement creates situation 7 vulnerability. Valuation 11 Sentiment 13 Sentiment – the positive mood should generally remain intact, but fragile Sector view 14 market conditions will allow for consolidation episodes.