DOCSLIB.ORG

Bi-Weekly Financial Technology Sector Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Bi-Weekly Financial Technology Sector Report Financial Technology Sector Summary Week of June 19, 2017 1 DEAL DASHBOARD Financial Technology (3) (1) (3) $11.7 Bn | 1,179 Deals Industry Stock Market Performance $77.6 Bn | 683 Deals LTM Financing Volume Last Twelve Months LTM M&A Volume 160 Select Recent Financing Transactions Select Recent M&A Transactions Company Amount ($MM) 150 Target Acquirer EV ($MM) 140 $300.0 $1,381.0 130 $145.5 $304.0 120 $140.0 110 $89.0 100 $65.0 $33.0 90 $28.0 NA 80 6/16/16 8/1/16 9/14/16 10/28/16 12/13/16 1/26/17 3/13/17 4/26/17 6/9/17 $22.5 NA Payments Exchanges Financial Data, Content, Information Processors / $12.0 & Analytics Credit Bureaus NA Banking & Lending Online Broker Dealers Technology $12.0 NA Investment Services, Healthcare / Insurance Software, & Technology Technology S&P 500 (3) (3) Quarterly Financing Volume Quarterly M&A Volume $10 500 $30 219 250 205 196 188 $8 $8.9 400 $25 200 $24.9 299 298 316 $24.5 276 $20 $6 300 $20.8 $20.4 150 $15 $4 200 100 $10 $3.0 $2 $2.6 $2.6 100 $5 50 $0 0 $0 0 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Financing Volume ($Bn) Financing Deal Count M&A Volume ($Bn) M&A Deal Count Notes: Source: Capital IQ, CB Insights and GCA FinTech Database. Market Data as of 6/16/17. 1) Refer to footnotes on page 5 for index composition. 2 2) Represents transactions announced between 6/5/17 and 6/19/17. 3) Deal counts include transactions with undisclosed funding amounts and enterprise values for financing and M&A transactions respectively. GCA OVERVIEW Financial Technology Team San Francisco New York London Tokyo th 1 Southampton St. 11-1 Marunouchi 1-chome One Maritime Plaza, 25th Fl. 640 Fifth Avenue, 10 Fl. London WC2R0LR Chiyoda-ku, Tokyo 100-6230 San Francisco, CA 94111 New York, NY 10019 United Kingdom Japan (415) 318-3600 (212) 999-7090 +44 20 7484 4040 +81 (3) 6212-7100 Sean Minnihan Peter Bang Derek Bell Paul DiNardo Steve Fletcher Rob Freiman Managing Director Managing Director Managing Director Managing Director Managing Director Director Global Head of FinTech Phone: (212) 999-7077 Phone: (212) 999-7074 Phone: (212) 999-7089 Phone: (212) 999-7097 Phone: (415) 318-3661 Phone: (212) 999-7075 Mobile: (917) 364-6230 Mobile: (917) 783-4057 Mobile: (914) 953-0689 Mobile: (650) 483-7246 Mobile: (415) 518-6725 Mobile: (973) 229-0436 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] Glen Kruger Michio Suzuki* David Krueger Saif Malik* Alexander Berry Malik Gill Director Director Vice President Vice President Associate Analyst Phone: (212) 999-7082 Phone: +81 3-6212-7145 Phone: (212) 537-4534 Phone: +44 (0) 207 038-3216 Phone: (212) 999-7079 Phone: (212) 537-4529 Mobile: (617) 792-6496 Mobile: +81 90-7412-9411 Mobile: (616) 822-7179 Mobile: +44 (0) 778 606-8553 Mobile: (818) 851-2300 Mobile: (646) 668-6714 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] * Saif Malik is a Vice President at GCA Savvian Europe Limited * Michio Suzuki is a Director at GCA Corporation 3 SECTION I: Market Summary 4 MARKET SUMMARY Industry Stock Market Performance 160 Last 12 Months 170 Last 3 Years 160 150 150 140 140 130 130 120 120 110 110 100 100 90 90 80 80 6/16/16 8/1/16 9/14/16 10/28/16 12/13/16 1/26/17 3/13/17 4/26/17 6/9/17 6/16/14 10/2/14 1/20/15 5/8/15 8/26/15 12/14/15 3/31/16 7/19/16 11/4/16 2/22/17 6/12/17 (1) (2) Indexed Price Performance Payments Exchanges Sector 3 Months 1 Year 3 Years (3) (4) Banking & Lending Technology 8.1% 23.2% 61.6% Financial Data, Content, Information Processors / Healthcare / Insurance Technology 6.9% 7.7% 36.1% & Analytics Credit Bureaus Payments 6.2% 25.0% 36.5% Financial, Data, Content, & Analytics 5.4% 20.8% 3.6% (6) (5) Banking & Lending Online Broker Dealers Exchanges 5.2% 24.4% 42.6% Technology Investment Services, Software, & Technology 3.9% 18.1% 47.3% Information Processors / Credit Bureaus 2.4% 18.0% 49.0% (7) (8) Online Broker Dealers (1.8%) 43.9% 53.4% Investment Services, Healthcare / Insurance Software, & Technology Technology Notes: (1) Payments: ADS, AIM:SCH, ASX:PPT, AXP, BGC, BOVESPA:CIEL3, CATM, DFS, EEFT, ENXTPA:EDEN, FDC, FLT, GDOT, GPN, MA, PAR, PYPL, SHOP, SQ, TSE:3769, TSS, UEPS, V, VNTV, WEX, WPG, WU, XTRA:WDI. (2) Exchanges: ASX:ASX, ATSE:EXAE, BME:BME, BMV:BOLSA A, BOVESPA:BVMF3, CBOE, CME, ICE, JSE:JSE, KLSE:BURSA, LSE, NDAQ, SEHK:388, SGX:S68, TSX:X, WSE:GPW, XTRA:DB1. (3) Financial Data, Content & Analytics: DNB, ENXTPA:FIM, FDS, HOSE:HHS, MCO, MORN, MSCI, RATE, SPGI, TRI. (4) Information Processors / Credit Bureaus: ACXM, EFX, FICO, INTX, LSE: EXPN. (5) Online Broker Dealers: AMTD, ETFC, GCAP, GLBR, IBKR, SCHW. (6) Banking & Lending Technology: ACIW, BKFS, ELLI, ELVT, EPAY, FIS, FISV, INTU, JKHY, LC, ONDK, PFMT, QTWO, SWX: TEMN. 5 (7) Investment Services, Software, & Technology: BR, DST, ENV, FNGN, LSE:ALFA, SEIC, SSNC. (8) Healthcare / Insurance Technology: ATHN, CRD.B, DAR:CRDB, EBIX, GWRE, MJSO, SPNS, BSE:532254, SY, VRSK. MARKET SUMMARY EBITDA Multiples and Margins 2017E EBITDA Multiples 2017 EBITDA Margins Healthcare / Insurance Technology 17.9x Exchanges 58.8% Information Processors / Credit Bureaus 15.2x Online Broker Dealers 46.1% Financial Data, Content, & Analytics 14.5x Financial Data, Content, & Analytics 39.3% Investment Services, Software, & 14.4x Banking and Lending Technology 32.9% Technology Banking and Lending Technology 14.2x Information Processors / Credit Bureaus 30.6% Investment Services, Software, & Exchanges 13.7x 26.7% Technology Payments 12.5x Payments 25.6% Online Broker Dealers 9.8x Healthcare / Insurance Technology 16.4% 0.0x 5.0x 10.0x 15.0x 20.0x 0% 10% 20% 30% 40% 50% 60% 70% Notes: 6 Numbers represent medians of sub-sectors. Details available in later pages. MARKET SUMMARY Price / Earnings Multiples and PEG Ratios 2017E Price / Earnings Multiples 2017E PE / Growth (“PEG” Ratio) | Long-Term EPS Growth Banking and Lending Technology 29.6x Healthcare / Insurance Technology 2.5 14.2% Healthcare / Insurance Technology 28.9x Exchanges 2.1 10.6% Online Broker Dealers 26.2x Banking and Lending Technology 2.1 15.5% Information Processors / Credit Bureaus 24.9x Financial Data, Content, & Analytics 2.1 Investment Services, Software, & 23.4x Information Processors / Credit Bureaus 2.1 13.8% Technology Investment Services, Software, & Financial Data, Content, & Analytics 23.0x 1.5 16.0% Technology Exchanges 21.6x Payments 1.3 14.5% Payments 17.8x Online Broker Dealers 1.3 17.4% 0.0x 5.0x 10.0x 15.0x 20.0x 25.0x 30.0x 35.0x 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Notes: 7 Numbers represent medians of sub-sectors. Details available in later pages. MARKET SUMMARY LTM Price Performance and 2017 P/E – Payments / Banking ($MM) ($MM) LTM Price LTM Price Networks Market Cap. Performance P/E 2017 Prepaid Market Cap. Performance P/E 2017 Visa Inc. $217,125 20% 27.0x Blackhawk Network Holdings, Inc. $2,321 24% 25.0x Mastercard Incorporated $130,726 30% 28.3x Green Dot Corporation $2,027 81% 20.3x American Express Company $72,798 32% 14.3x Net 1 UEPS Technologies, Inc. $557 (2%) 5.5x PayPal Holdings, Inc. $62,273 40% 29.1x Sector Average $1,635 34% 16.9x Discover Financial Services $23,230 16% 10.1x Sector Average $101,230 28% 21.8x LTM Price Integrated Payments Hardware / Technology Market Cap. Performance P/E 2017 LTM Price Ingenico Group - GCS $5,683 (13%) 17.3x Merchant Processing Market Cap. Performance P/E 2017 NCR Corporation $4,820 37% 11.8x Cielo S.A. $19,633 (9%) 15.0x VeriFone Systems, Inc. $1,927 (9%) 11.8x First Data Corporation $16,653 54% 11.8x Cardtronics plc $1,522 (16%) 11.7x Global Payments Inc. $13,655 20% 22.9x Everi Holdings Inc. $467 365% 6.9x Vantiv, Inc. $11,888 14% 18.5x PAR Technology Corporation $136 81% NA Total System Services, Inc. $10,849 13% 18.2x Sector Average $2,426 74% 11.9x Square, Inc. $8,814 160% NM Wirecard AG $8,336 58% 27.9x LTM Price Worldpay Group plc $8,220 11% 23.9x Banking and Lending Technology Market Cap. Performance P/E 2017 GMO Payment Gateway, Inc. $2,115 9% 75.1x EVERTEC, Inc. $1,208 6% 10.2x Intuit Inc. $35,740 31% 30.6x SafeCharge International Group Limited $496 7% 15.5x Fidelity National Information Services, Inc. $28,162 15% 20.1x Planet Payment, Inc. $177 (16%) 19.6x Fiserv, Inc. $26,473 17% 24.3x JetPay Corporation $33 (16%) NM Jack Henry & Associates, Inc. $8,137 25% 32.3x Sector Average $7,852 24% 23.5x Temenos Group AG $6,278 63% 37.4x Ellie Mae, Inc. $3,790 30% 59.7x Black Knight Financial Services, Inc. $2,713 13% 28.7x LTM Price ACI Worldwide, Inc. $2,631 6% 47.7x Money Transfer Market Cap. Performance P/E 2017 LendingClub Corporation $2,266 13% NM The Western Union Company $8,992 1% 11.4x Q2 Holdings, Inc.
Load more

Recommended publications
  • The Mastercard Compliant Service Provider List
    The Mastercard Compliant Service Provider List A company’s name appears on this Compliant Service Provider List if (i) MasterCard has received a copy of an Attestation of Compliance (AOC) by a Qualified Security Assessor (QSA) reflecting validation of the company being PCI DSS compliant and (ii) MasterCard records reflect the company is registered as a Service Provider by one or more MasterCard Customers. The date of the AOC and the name of the QSA are also provided. Each AOC is valid for one year. MasterCard receives copies of AOCs from various sources. This Compliant Service Provider List is provided solely for the convenience of MasterCard Customers and any Customer that relies upon or otherwise uses this Compliant Service Provider list does so at the Customer’s sole risk. While MasterCard endeavors to keep the list current as of the date set forth in the footer, MasterCard disclaims any and all warranties of any kind, including any warranty of accuracy or completeness or fitness for any particular purpose. MasterCard disclaims any and all liability of any nature relating to or arising in connection with the use of or reliance on the Compliant Service Provider List or any part thereof. Each MasterCard Customer is obligated to comply with MasterCard Rules and other Standards pertaining to use of a Service Provider. As a reminder, an AOC by a QSA provides a “snapshot” of security controls in place at a point in time. Service Provider Name Region AOC Date Assessor DESV 1&1 Internet SE (1&1, 1&1 ipayment, Europe 05/09/2016 Security Research & Consulting GmbH ipayment.de) 1Link (Guarantee) Limited SAMEA 11/17/2015 Trustwave 1Shoppingcart.com (Web.com Group, lnc.) US 04/13/2016 SecurityMetrics 1stPayGateWay, LLC US 05/27/2016 IBM Internet Security Systems (ISS) 2138617 Ontario Inc.
    [Show full text]
  • Software Sector Summary Report
    SOFTWARE SECTOR REPORT Q1 2019 GCA: A LEADING INDEPENDENT GLOBAL INVESTMENT BANK Global investment bank providing strategic M&A and capital markets advisory services to growth companies and market leaders LEEDS PARIS FRANKFURT MANCHESTER MUNICH ZURICH NAGOYA TOKYO LONDON SHANGHAI NEW YORK MILAN NEW DELHI OSAKA TEL AVIV FUKUOKA SAN FRANCISCO TAIPEI MUMBAI SINGAPORE HO CHI MINH CITY Global platform: Sector expertise: Exceptional cross- 21 offices in key Experienced team: Expansive coverage border capabilities: markets across Over 400 employees and deep Over a third of all America, Asia and across the globe specialization transactions Europe Broad spectrum Diversified Strong reputation of clients: business model: and track record: Leading Geographically High number of conglomerates, top balanced, synergistic repeat clients and private equity firms and complementary referrals and emerging high- focus areas growth companies 2 GCA operates as GCA in America and Asia, and GCA Altium in Europe GCA OVERVIEW The GCA Software Team US Team Paul DiNardo Daniel Avrutsky Rupert Sadler Josh Wepman Managing Director Managing Director Managing Director Managing Director Software HCM Software Software, Travel & Telematics Software & Digital Media [email protected] [email protected] [email protected] [email protected] James Orozco Clark Callander Chris Gough Kevin Walsh Managing Director Managing Director Managing Director Managing Director Financial Sponsors Technology Real Estate Tech Software & Digital Media [email protected] [email protected]
    [Show full text]
  • Private Placement Activity Chris Hastings | [email protected] | 917-621-3750 3/5/2018 – 3/9/2018 (Transactions in Excess of $20 Million)
    Private Capital Group Private Placement Activity Chris Hastings | [email protected] | 917-621-3750 3/5/2018 – 3/9/2018 (Transactions in excess of $20 million) Trends & Commentary ▪ This week, 14 U.S. private placement deals between $20 million and $50 million closed, accounting for U.S. VC Average Deal Size by Series $516 million in total proceeds, compared to last week’s 10 U.S. deals leading to $357 million in total $ in Millions proceeds. This week also had 5 U.S. deals between $50 million and $100 million yielding $320 million, $35 compared to last week’s 4 deals resulting in $279 million in total proceeds. ▪ The U.S. VC average deal size has been significantly increasing for early and late stage VC deals. Late $30 stage VC has increased by 8.8% CAGR 2008 – 2017 while early stage VC has grown by 7.4% CAGR 2008 – 2017. (see figure) ▪ Southern Cross, a PE fund that invests in energy, pharmaceuticals and technology in Latin America, has $25 decided against restructuring its third fund after receiving some interest from its LPs. It is largely because its third fund has been a weak performer, the discount on fund stakes would have been steep and that the $20 fund wanted more time to exit. ▪ Univision has filed to withdraw its pending IPO due to “prevailing market conditions”. Univision initially filed $15 plans to IPO in 2015. ▪ New State Capital Partners has closed its second institutional fund on its $255 million hard cap. The fund $10 can invest more than $50 million equity per deal in sectors such as business services, healthcare services and industrials.
    [Show full text]
  • Including League Tables of Financial Advisors
    An Acuris Company Finding the opportunities in mergers and acquisitions Global & Regional M&A Report 2019 Including League Tables of Financial Advisors mergermarket.com An Acuris Company Content Overview 03 Global 04 Global Private Equity 09 Europe 14 US 19 Latin America 24 Asia Pacific (excl. Japan) 29 Japan 34 Middle East & Africa 39 M&A and PE League Tables 44 Criteria & Contacts 81 mergermarket.com Mergermarket Global & Regional Global Overview 3 M&A Report 2019 Global Overview Regional M&A Comparison North America USD 1.69tn 1.5% vs. 2018 Inbound USD 295.8bn 24.4% Outbound USD 335.3bn -2.9% PMB USD 264.4bn 2.2x Latin America USD 85.9bn 12.5% vs. 2018 Inbound USD 56.9bn 61.5% Outbound USD 8.9bn 46.9% EMU USD 30.6bn 37.4% 23.1% Europe USD 770.5bn -21.9% vs. 2018 50.8% 2.3% Inbound USD 316.5bn -30.3% Outbound USD 272.1bn 28.3% PMB USD 163.6bn 8.9% MEA USD 141.2bn 102% vs. 2018 Inbound USD 49.2bn 29% Outbound USD 22.3bn -15.3% Ind. & Chem. USD 72.5bn 5.2x 4.2% 17% 2.6% APAC (ex. Japan) USD 565.3bn -22.5% vs. 2018 Inbound USD 105.7bn -14.8% Outbound USD 98.9bn -24.5% Ind. & Chem. USD 111.9bn -5.3% Japan USD 75.4bn 59.5% vs. 2018 Inbound USD 12.4bn 88.7% Global M&A USD 3.33tn -6.9% vs. 2018 Outbound USD 98.8bn -43.6% Technology USD 21.5bn 2.8x Cross-border USD 1.27tn -6.2% vs.
    [Show full text]
  • 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.
    [Show full text]
  • Masters in Management in Entrepreneurship and New Venture Management
    MASTERS IN MANAGEMENT IN ENTREPRENEURSHIP AND NEW VENTURE MANAGEMENT Research Title: The nexus between entrepreneurship theory and venture capital financing decisions in South Africa Violet S’phiwe Buluma Student Number: 693690 BUSA 7044 Supervisor: Dr Jose Barreira Date of submission: 20 June 2017 ABSTRACT This explorative study examines the decision making criteria at the screening stage by venture capital firms in South Africa. The study also probes into the decision making criteria on the personality side and whether that has any association with the “big five” characteristics. A three- section questionnaire including both Likert style type (decision making and short version of big five) and nominal questions was sent to venture capital firms. Logistic regression as well as correlation analysis was run on the data. The findings were that individual attributes (entrepreneurs’ characteristics and experience) environment, industry and macro economic environment (characteristics of product and services, characteristics of the market and financial considerations) are all positively related to venture capital firms’ decision to grant finance to an entrepreneur. Findings on the big five characteristics are that only openness to experience, consientiousness and extrarversion were seen as critical considerations by venture capital firms, but not agreeableness and emotional stability characteristics. The study findings are beneficial for entrepreneurs and venture capital firms. Key words – Venture capital, investment criteria, big five personality, entrepreneurship, access to finance 2 DECLARATION I Violet S’phiwe Buluma declare that the research work reported in this dissertation is my own, except where otherwise indicated in references and acknowledgements. It is submitted in partial fulfilment of the requirements for the Masters of Management in Entrepreneurship and New Venture Management at the University of the Witwatersrand.
    [Show full text]
  • Software Sector Summary Report
    Software COMPANYSector PRESENTATION Summary Week of October 2, 2017 1 DEAL DASHBOARD Software $35.9 Billion 470 $29.1 Billion 76 Financing Volume YTD (1)(2) Financing Transactions YTD (1)(2) M&A Volume YTD (3) M&A Transactions YTD (3) Select Financing Transactions Quarterly Financing Volume (1)(2) Quarterly M&A Volume (3) Select M&A Transactions (4) $Bn $Bn (61)% Company Amount ($MM) 43% Target Acquirer EV ($MM) $14 $50 $270 $12 $41 $3,903 $10 $11 $9 $6 $6 $24 $250 $6 $5 $1,125 $16 $15 $12 ( ) $12 $6 $5 $70 $834 ( ) Q3'15 Q4'15 Q1'16 Q2'16Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 $45 Quarterly Financing Deal Count (1)(2) Quarterly M&A Deal Count (3) $614 36% $35 9% $531 156 160 154 127 118 123 103 111 $35 94 29 29 29 29 $382 24 24 26 21 $32 14 $344 $26 $270 Q3'15 Q4'15 Q1'16 Q2'16Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Last 12 Months Software Price Performance vs. S&P 500 (5) M&A EV/ NTM Rev. Over Time (6) 35.0% SPX IGV All Buyers Strategic Buyers PE Buyers 30.0% 30% 6 ` 5.3x Financing Activity by Quarter 4.7x 4.9x 5 4.5x 4.6x 25.0% 4.2x 4.3x 4.0x 4.1x 3.9x 3.9x 3.7x 20.0% 4 3.6x 3.1x 16% 2.7x 2.9x 2.9x 15.0% 3 2.5x 2.5x 2.5x 2.2x 10.0% 2 5.0% 1 0.0% 0 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 2011 2012 2013 2014 2015 2016 2017 (5.0%) (10.0%) Notes: Source: Capital IQ, PitchBook, and Dow Jones VentureSource.
    [Show full text]
  • Click to Edit Master Title Style
    Click to edit Master title style Secondary VIII, L.P. April 14th 2016 Dallas Police & Fire Pension System FirmClick Overviewto edit Master title style Year firm Assets under Number of Number of fund founded management direct investments investments 2000 $2B 175 215 San Francisco Firm Distributions headquarters Number of professionals to Paid-In Capital Firm net IRR 2 offices 17 82%* 21% TWO COMPLEMENTARY FUND STRATEGIES SECONDARY LIQUIDITY PARTNERSHIP HOLDINGS • Secondary direct and secondary fund investments in • Fund and direct investments in early and late-stage venture-backed companies mid-stage venture-backed companies • Typically $20 - $200 million in revenues at time of • Typically pre-revenue to $20 million in investment revenues at time of investment • Seeking high IRR • Seeking high multiple All data is unaudited and estimated as of 9/30/15. *As of 10/21/2015. Aggregate track records are net of fees, expenses and carried interest paid to the general partner entity of each respective fund. Prior performance is not a guarantee 2 of future returns. Please see slide 15 for detailed track record information and a full list of funds. OurClick Team to edit Master title style FIRM MANAGEMENT FINANCE & INVESTOR RELATIONS HANS SWILDENS ROBERT MAY AARON HINZ LENA McNULTY LISA BREIMAN Founder & CEO COO & CCO Controller Investor Relations Investor Relations Speedera, Microline Founders Fund, Mohr Davidow, Thomas Weisel | Venrock Santa Clara University University of Denver UCSB | Columbia MBA Thomas Weisel PricewaterhouseCoopers San Jose State
    [Show full text]
  • Including League Tables of Financial Advisors
    An Acuris Company Finding the opportunities in mergers and acquisitions Global & Regional M&A Report 2019 Including League Tables of Financial Advisors mergermarket.com An Acuris Company Content Overview 03 Global 04 Global Private Equity 09 Europe 14 US 19 Latin America 24 Asia Pacific (excl. Japan) 29 Japan 34 Middle East & Africa 39 M&A and PE League Tables 44 Criteria & Contacts 81 mergermarket.com Mergermarket Global & Regional Global Overview 3 M&A Report 2019 Global Overview Regional M&A Comparison North America USD 1.69tn 1.5% vs. 2018 Inbound USD 295.8bn 24.4% Outbound USD 335.3bn -2.9% PMB USD 264.4bn 2.2x Latin America USD 85.9bn 12.5% vs. 2018 Inbound USD 56.9bn 61.5% Outbound USD 8.9bn 46.9% EMU USD 30.6bn 37.4% 23.1% Europe USD 770.5bn -21.9% vs. 2018 50.8% 2.3% Inbound USD 316.5bn -30.3% Outbound USD 272.1bn 28.3% PMB USD 163.6bn 8.9% MEA USD 141.2bn 102% vs. 2018 Inbound USD 49.2bn 29% Outbound USD 22.3bn -15.3% Ind. & Chem. USD 72.5bn 5.2x 4.2% 17% 2.6% APAC (ex. Japan) USD 565.3bn -22.5% vs. 2018 Inbound USD 105.7bn -14.8% Outbound USD 98.9bn -24.5% Ind. & Chem. USD 111.9bn -5.3% Japan USD 75.4bn 59.5% vs. 2018 Inbound USD 12.4bn 88.7% Global M&A USD 3.33tn -6.9% vs. 2018 Outbound USD 98.8bn -43.6% Technology USD 21.5bn 2.8x Cross-border USD 1.27tn -6.2% vs.
    [Show full text]
  • Mizuho Securities USA LLC Consolidated Statement of Financial Condition
    Mizuho Securities USA LLC Consolidated Statement of Financial Condition March 31, 2020 With Report of Independent Registered Public Accounting Firm UNITED STATES OMB APPROVAL SECURITIES AND EXCHANGE COMMISSION OMB Number: 3235-0123 Washington, D.C. 20549 Expi res: August 31, 2020 Estimated average burden ANNUAL AUDITED REPORT hours per response.. 12.00 FORM X-17A-5 SEC FILE NUMBER PART III 8-37710 FACING PAGE Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder REPORT FOR THE PERIOD BEGINNING______________________________04/01/2019 AND ENDING______________________________03/31/2020 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF BROKER-DEALER: Mizuho Securities USA LLC OFFICIAL USE ONLY ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) FIRM I.D. NO. ___________________________________________________________________________________________________________________1271 Avenue of the Americas (No. and Street) New York New Yor ______________________________________________________________________________________________________k 10020 (City) (State) (Zip Code) NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT _____________________________________________________________________________________________________________________ David Kronenberg (212) 209 - 9499 (Area Code – Telephone Number) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* _____________________________________________________________________________________________________________________Ernst
    [Show full text]
  • Mizuho Financial Group, Inc. (Translation of Registrant’S Name Into English)
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of July 2019 Commission File Number 001-33098 Mizuho Financial Group, Inc. (Translation of registrant’s name into English) 5-5, Otemachi 1-chome Chiyoda-ku, Tokyo 100-8176 Japan (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ☐ No ☒ If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82- . SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: July 30, 2019 Mizuho Financial Group, Inc. By: /s/ Makoto Umemiya Name: Makoto Umemiya Title: Managing Executive Officer / Group CFO The following is the English translation of excerpt regarding the Basel Pillar 3 disclosures and the relevant information from our Japanese language disclosure material published in July 2019.
    [Show full text]
  • Single Sector Funds Portfolio Holdings
    ! Mercer Funds Single Sector Funds Portfolio Holdings December 2020 welcome to brighter Mercer Australian Shares Fund Asset Name 4D MEDICAL LTD ECLIPX GROUP LIMITED OOH MEDIA LIMITED A2 MILK COMPANY ELDERS LTD OPTHEA LIMITED ABACUS PROPERTY GROUP ELECTRO OPTIC SYSTEMS HOLDINGS LTD ORICA LTD ACCENT GROUP LTD ELMO SOFTWARE LIMITED ORIGIN ENERGY LTD ADBRI LTD EMECO HOLDINGS LTD OROCOBRE LTD ADORE BEAUTY GROUP LTD EML PAYMENTS LTD ORORA LTD AFTERPAY LTD ESTIA HEALTH LIMITED OZ MINERALS LTD AGL ENERGY LTD EVENT HOSPITALITY AND ENTERTAINMENT PACT GROUP HOLDINGS LTD ALKANE RESOURCES LTD EVOLUTION MINING LTD PARADIGM BIOPHARMACEUTICALS LTD ALS LIMITED FISHER & PAYKEL HEALTHCARE CORP LTD PENDAL GROUP LTD ALTIUM LTD FLETCHER BUILDING LTD PERENTI GLOBAL LTD ALUMINA LTD FLIGHT CENTRE TRAVEL GROUP LTD PERPETUAL LTD AMA GROUP LTD FORTESCUE METALS GROUP LTD PERSEUS MINING LTD AMCOR PLC FREEDOM FOODS GROUP LIMITED PHOSLOCK ENVIRONMENTAL TECHNOLOGIES AMP LTD G8 EDUCATION LTD PILBARA MINERALS LTD AMPOL LTD GALAXY RESOURCES LTD PINNACLE INVESTMENT MANAGEMENT GRP LTD ANSELL LTD GDI PROPERTY GROUP PLATINUM INVESTMENT MANAGEMENT LTD APA GROUP GENWORTH MORTGAGE INSRNC AUSTRALIA LTD POINTSBET HOLDINGS LTD APPEN LIMITED GOLD ROAD RESOURCES LTD POLYNOVO LIMITED ARB CORPORATION GOODMAN GROUP PTY LTD PREMIER INVESTMENTS LTD ARDENT LEISURE GROUP GPT GROUP PRO MEDICUS LTD ARENA REIT GRAINCORP LTD QANTAS AIRWAYS LTD ARISTOCRAT LEISURE LTD GROWTHPOINT PROPERTIES AUSTRALIA LTD QBE INSURANCE GROUP LTD ASALEO CARE LIMITED GUD HOLDINGS LTD QUBE HOLDINGS LIMITED ASX LTD
    [Show full text]