DOCSLIB.ORG

Women in Venture Capital

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Women in Venture Capital WOMEN IN VENTURE CAPITAL DECEMBER 2017 alternative assets. intelligent data. WOMEN IN VENTURE CAPITAL alternative assets. intelligent data. WOMEN IN VENTURE CAPITAL Expanding on data featured in Preqin’s recently released Women in Alternative Assets report, we focus on women-owned venture capital firm activity and look at the recent developments and reactions regarding initiatives to improve the gender imbalance and misconduct allegations. ollowing recent allegations of Fig. 1: Annual Venture Capital Fundraising by Women-Owned Firms, 2007 - 2017 YTD Fdiscrimination within the venture (As at October 2017) capital industry, the issue of gender 30 3 balance has received renewed attention. Aggregate Capital Raised Capital ($bn) Aggregate Women represent a mere 21% of all 25 25 24 2.4 venture capital employees, with the largest proportion (36%) of women in 2.1 20 18 2 venture capital in junior-level positions, 1.8 followed by 29% in mid-level positions 1.5 15 15 13 and 11% in senior-level positions. The 12 12 1.0 proportions of female board members 9 9 10 8 1.0 1 7 are even smaller: just 6% of all venture Closed of Funds No. 0.8 0.6 capital board representatives are women. 5 0.7 0.6 Geographically, the ratio of total women 0.3 employees in the industry lingers at around 0 0 a fifth across all regions, although North 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 America has a greater percentage (13%) YTD Year of Final Close of women in senior positions compared to Europe (9%). In this feature, we look at the No. of Funds Closed Aggregate Capital Raised ($bn) members of the industry working to raise Source: Preqin Venture Capital Online industry standards of conduct, the impact of women deal-makers, the relationships of capitalists have sounded a call for action. Sequoia Capital, Norwest Venture Partners, institutional investors with women-owned Reid Hoffman, LinkedIn co-founder and First Round Capital and General Catalyst firms and women-led fundraising activity. partner at Greylock Partners, suggested Partners, some in the industry argued that those in the industry adopt a set of that moral decency should not have to DECENCY PLEDGE moral guidelines, which he has dubbed be pledged, and others argued that the In the wake of recent sexual misconduct the “decency pledge”. While many firms pledge alone is not enough to motivate allegations, many prominent venture quickly adopted the pledge, such as change in the industry. Fig. 2: Largest Women-Owned Venture Capital Funds in Market (As at October 2017) Primary Fund Target Fund Firm Vintage Type Geographic Focus Status Size ($mn) Baidu Capital Baidu Capital 2017 Expansion/Late Stage Asia First Close 2,950 AMBI Film Fund AMBI Pictures 2017 Venture Capital (All Stages) US Raising 200 Arbor Ventures Fund II Arbor Ventures 2017 Early Stage: Start-up Asia First Close 200 Ariadne Ecosystem Economics Fund Ariadne Capital 2017 Venture Capital (All Stages) Europe Raising 195 Aspect Ventures Fund II Aspect Ventures 2017 Early Stage US Raising 175 Glasswing Ventures Glasswing Ventures 2017 Early Stage US First Close 150 Hummer Winblad Venture Partners VII HWVP 2017 Venture Capital (All Stages) US Raising 125 iBionext Growth Fund iBionext 2016 Early Stage: Start-up Europe First Close 111 Agent Capital Fund I Agent Capital 2017 Venture Capital (All Stages) US Raising 100 iGlobe Platinum Fund II iGlobe Partners 2015 Early Stage Asia First Close 100 Imaginary Venture Capital Partners I Imaginary Ventures 2017 Early Stage Europe Raising 100 Nautilus Venture Partners Fund I Nautilus Venture Partners 2015 Venture Capital (All Stages) US First Close 100 Venture City Fund I Venture City 2017 Early Stage: Start-up US Raising 100 Source: Preqin Venture Capital Online 1 © 2017 Preqin Ltd. / www.preqin.com WOMEN IN VENTURE CAPITAL alternative assets. intelligent data. The pledge states that when and entrepreneurs should not consider the way to a more inclusive and diverse venture capitalists are engaging with their funding offers. industry. XFactor Ventures, a pre-seed entrepreneurs, they have the same and seed stage fund, was created to help moral position to them as a manager to One example of this pledge in action make a difference for the next generation an employee or a college professor to a can be found in Y Combinator’s (YC) of female-led businesses. The firm has student. Moreover, once potential business long-standing tracking of investors eight female founders and nine female relationships are underway, the pursuit of with a history of poor conduct within investment partners, and has raised $3mn any romantic or sexual relationship must the YC network, known by some as the to make pre-seed and seed investments be forfeited. The pledge also maintains “Silicon Valley Blacklist,” and its more in 30 female-led companies over the next that industry peers have a duty to report recent anonymous submission system couple of years. XFactor Ventures is one of behaviour that is not up to standard and for YC network founders to report any the few firms in the industry that strives to that gender discrimination should be misconduct they have experienced have female representation on both the treated with zero tolerance; that fellow personally, observed themselves or been investment and founder side. venture capitalists should not do business told as a confidant of a victim. with peers who engage in discriminatory BBG Ventures is another example of a or predatory behaviour; and that WOMEN DRIVING CHANGE firm founded on the principles of driving institutional investors should not invest By incorporating gender diversity values and developing female talent in the with those particular individuals or firms, into their business models, firms are paving industry. Founded by Susan Lyne, the early Fig. 3: Most Active Female Board Representatives at Venture Fig. 4: Proportion of Venture Capital Deals Led by Female Capital-Backed Portfolio Companies, 2017 YTD Partners, 2010 - 2017 YTD (As at October 2017) No. of Board 10% Name Firm(s) 9.0% Seats 9% Cindy Padnos Illuminate Ventures 11 8% 7.2% Vani Kola Kalaari Capital 10 6.9% 7.1% 7% 6.4% 6.7% Hilary Gosher Insight Venture Partners 10 6.1% 6% SV Health Investors, Roche Venture Tracy Saxton 9 5% Fund, Pivotal BioVenture Partners 4% Wende Hutton Canaan Partners 9 of DealsProportion 3% Jenny Lee GGV Capital 8 2% Elaine Jones Pfizer Venture Investments 8 1% Dana Settle Greycroft Partners 7 0% Nilanjana Bhowmik Longworth Venture Partners 7 2010 2011 2012 2014 2015 2016 2017 YTD Stacey Bishop Scale Venture Partners 7 Source: Preqin Venture Capital Online Source: Preqin Venture Capital Online Fig. 5: Venture Capital Deals Led by Female Partners, Fig. 6: Women-Owned Venture Capital Firms: Deals by Portfolio 2010 - 2017 YTD (As at October 2017) Company Location (As at October 2017) 350 6 400 5 366 4.6 307 350 4.5 300 286 5.1 ($bn) Value Deal Aggregate 276 5 ($bn) Value Deal Aggregate 4 249 300 250 3.5 224 4 4.4 250 3.7 190 3 200 177 176 2.9 3 200 2.5 150 2.9 2.9 2.9 2 No. of Deals No. 150 2.0 2 of Deals No. 100 1.5 100 76 0.7 0.9 1 50 1 43 50 25 0.2 0.5 0 0 0 0 2010 2011 2012 2013 2014 2015 2016 2017 North America Europe Asia Rest of World YTD Location No. of Deals Aggregate Deal Size ($bn) No. of Deals Aggregate Deal Value ($bn) Source: Preqin Venture Capital Online Source: Preqin Venture Capital Online 2 © 2017 Preqin Ltd. / www.preqin.com WOMEN IN VENTURE CAPITAL alternative assets. intelligent data. stage fund is focused on investments in Fig. 7: Women-Owned Venture Capital Firms: Deals by Portfolio Company Industry, technology companies with at least one 2017 YTD(As at October 2017) female founder. The firm is backed by 30% AOL as a part of its #BuiltByGirls initiative; 25% started by BBG Ventures’ partner Nisha 25% 22% Dua, it challenges young women to take part in the tech-enabled economy through 20% a series of offline and online programs, to 15% 15% teach girls the fundamentals of venture 12% capital and prepare them for a career in 10% 9% technology. The BBG Ventures portfolio currently holds over 30 investments in of DealsProportion 6% 5% 4% 4% women-led firms. 2% 2% 0% WOMEN DEAL-MAKERS IT Since 2010, there has been steady growth Other Internet Services Business in both the number of women in lead Clean Software Telecoms Industrials Healthcare partner positions and the aggregate size Technology Consumer of venture capital deals led by women. Discretionary Compared to 2016, this year so far has seen Source: Preqin Venture Capital Online over 83 more deals with women acting as lead partners, with over $2.0bn more in of funds managers and one is a foundation. deal value (Fig. 5). Female deal-makers are active in a wide Three-quarters (74%) of investors in range of industries: the largest proportions women-owned venture firms over the North America is the most active region of deals completed by women-owned firms same period are North America based, for venture capital deals completed by in 2017 year to date are in the software more than triple the proportion based women-owned firms in 2017 YTD by (25%), internet (22%) and telecoms (15%) in Europe (20%, Fig. 9). North America is both number and aggregate value: there sectors (Fig. 7). home to 12 of the 14 most active investors have been 366 investments in the region in women-owned firms, including US- totalling over $4.6bn, more than 2.5x INVESTORS IN WOMEN-OWNED FIRMS based Illinois Municipal Retirement Fund more than all other regions combined (Fig.
Load more

Recommended publications
  • Philadelphia Investment Trends Report
    Venture impact Technology investment in the Greater Philadelphia region Trends and highlights, January 2008 to June 2013 Innovation, investment and opportunity On behalf of EY, Ben Franklin Technology Partners of Southeastern Pennsylvania and the Greater Philadelphia Alliance for Capital and Technologies (PACT), we are pleased to present this review 421 companies of technology investment trends and highlights in the Greater Philadelphia region. $4.1 billion The technology investment community in the Greater Philadelphia region includes a wide variety of funding sources supporting a diverse array of companies and industry sectors. In this report, Total investment since we’ve analyzed more than a thousand investment rounds and January 2008 exits that occurred in the Philadelphia region since 2008 – including investments from venture capital fi rms (VCs), angel investors (Angels), corporate/strategic investors, seed funds, accelerators and other sources of funding. As shown in this report, 2012 reversed a post-recession slowdown in venture funding in Greater Philadelphia, and to date, 2013 has brought a welcome increase in the amount of new funds available at regional investment fi rms. These are positive signs for our region’s technology companies, as are the increasing number of exits via IPO and acquisition, which serve as further validation of the investment opportunities created by our region’s growing technology sector. We encourage you to explore this report, and we hope that it will provide useful insights into the current state of
    [Show full text]
  • Moving Toward Gender Balance in Private Equity and Venture Capital the Study
    Moving toward gender balance in private equity and venture capital IFC. IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org. Oliver Wyman. Oliver Wyman is a global leader in management consulting. With offices in 50+ cities across nearly 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 5,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. For more information, visit www. oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman. RockCreek. RockCreek is a leading global investment management firm that applies data-driven technology and innovation to investing. Its portfolio managers invest in emerging markets and alternatives, and its asset allocation teams invest in multi-asset class and outsourced CIO portfolios and customized solutions. RockCreek’s client base is made up of sophisticated institutional investors, including endowments, foundations, pension plans, and sovereign funds.
    [Show full text]
  • 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).
    [Show full text]
  • SATURN PARTNERS LIMITED PARTNERSHIP III a Delaware Limited Partnership
    Fourth Amended and Restated Confidential Private Placement Memorandum SATURN PARTNERS LIMITED PARTNERSHIP III A Delaware Limited Partnership PRIVATE PLACEMENT OF LIMITED PARTNERSHIP INTERESTS A venture capital fund that will source and lead investments focusing primarily on software and information technology, with secondary focus on specialty energy, biotechnology and advanced materials. The fund may also invest in follow-on investments in certain Saturn Affiliate portfolio companies and special opportunities that are believed to have potential for significant growth. The purchase of a limited partnership interest in Saturn Partners Limited Partnership III involves a high degree of risk. See “RISK FACTORS” in this Memorandum. September 1, 2012 Name of Offeree: Memorandum No.: A/75186653.1 THIS FOURTH AMENDED AND RESTATED PRIVATE PLACEMENT MEMORANDUM (THIS “MEMORANDUM”) AMENDS AND RESTATES THE THIRD AMENDED AND RESTATED PRIVATE PLACEMENT MEMORANDUM DATED SEPTEMBER 1, 2011, THE SECOND AMENDED AND RESTATED PRIVATE PLACEMENT MEMORANDUM DATED DECEMBER 1, 2010, THE AMENDED AND RESTATED PRIVATE PLACEMENT MEMORANDUM DATED AUGUST 1, 2010 AND THE PRIVATE PLACEMENT MEMORANDUM DATED JUNE 1, 2010, AND HAS NOT BEEN FILED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR HAS SUCH COMMISSION OR ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY DETERMINED WHETHER IT IS ACCURATE OR COMPLETE, OR PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THIS MEMORANDUM DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO BUY, A SECURITY IN ANY JURISDICTION IN WHICH IT IS UNLAWFUL TO MAKE SUCH AN OFFER OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH AN OFFER OR SOLICITATION IN SUCH JURISDICTION.
    [Show full text]
  • 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.
    [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]
  • 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
    [Show full text]
  • How to Catch a Unicorn
    How to Catch a Unicorn An exploration of the universe of tech companies with high market capitalisation Author: Jean Paul Simon Editor: Marc Bogdanowicz 2016 EUR 27822 EN How to Catch a Unicorn An exploration of the universe of tech companies with high market capitalisation This publication is a Technical report by the Joint Research Centre, the European Commission’s in-house science service. It aims to provide evidence-based scientific support to the European policy-making process. The scientific output expressed does not imply a policy position of the European Commission. Neither the European Commission nor any person acting on behalf of the Commission is responsible for the use which might be made of this publication. JRC Science Hub https://ec.europa.eu/jrc JRC100719 EUR 27822 EN ISBN 978-92-79-57601-0 (PDF) ISSN 1831-9424 (online) doi:10.2791/893975 (online) © European Union, 2016 Reproduction is authorised provided the source is acknowledged. All images © European Union 2016 How to cite: Jean Paul Simon (2016) ‘How to catch a unicorn. An exploration of the universe of tech companies with high market capitalisation’. Institute for Prospective Technological Studies. JRC Technical Report. EUR 27822 EN. doi:10.2791/893975 Table of Contents Preface .............................................................................................................. 2 Abstract ............................................................................................................. 3 Executive Summary ..........................................................................................
    [Show full text]
  • Venture Capital and the Finance of Innovation, Second Edition
    This page intentionally left blank VENTURE CAPITAL & THE FINANCE OF INNOVATION This page intentionally left blank VENTURE CAPITAL & THE FINANCE OF INNOVATION SECOND EDITION ANDREW METRICK Yale School of Management AYAKO YASUDA Graduate School of Management, UC Davis John Wiley & Sons, Inc. EDITOR Lacey Vitetta PROJECT EDITOR Jennifer Manias SENIOR EDITORIAL ASSISTANT Emily McGee MARKETING MANAGER Diane Mars DESIGNER RDC Publishing Group Sdn Bhd PRODUCTION MANAGER Janis Soo SENIOR PRODUCTION EDITOR Joyce Poh This book was set in Times Roman by MPS Limited and printed and bound by Courier Westford. The cover was printed by Courier Westford. This book is printed on acid free paper. Copyright 2011, 2007 John Wiley & Sons, Inc. 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, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/go/permissions. Evaluation copies are provided to qualified academics and professionals for review purposes only, for use in their courses during the next academic year. These copies are licensed and may not be sold or transferred to a third party.
    [Show full text]
  • Capital Flows to Education Innovation 1 (312) 397-0070 [email protected]
    July 2012 Fall of the Wall Deborah H. Quazzo Managing Partner Capital Flows to Education Innovation 1 (312) 397-0070 [email protected] Michael Cohn Vice President 1 (312) 397-1971 [email protected] Jason Horne Associate 1 (312) 397-0072 [email protected] Michael Moe Special Advisor 1 (650) 294-4780 [email protected] Global Silicon Valley Advisors gsvadvisors.com Table of Contents 1) Executive Summary 3 2) Education’s Emergence, Decline and Re-Emergence as an Investment Category 11 3) Disequilibrium Remains 21 4) Summary Survey Results 27 5) Interview Summaries 39 6) Unique Elements of 2011 and Beyond 51 7) Summary Conclusions 74 8) The GSV Education Innovators: 2011 GSV/ASU Education Innovation Summit Participants 91 2 1. EXECUTIVE SUMMARY American Revolution 2.0 Fall of the Wall: Capital Flows to Education Innovation Executive Summary § Approximately a year ago, GSV Advisors set out to analyze whether there is adequate innovation and entrepreneurialism in the education sector and, if not, whether a lack of capital was constraining education innovation § Our observations from research, interviews, and collective experience indicate that there is great energy and enthusiasm around the PreK-12, Post Secondary and Adult (“PreK to Gray”) education markets as they relate to innovation and the opportunity to invest in emerging companies at all stages § Investment volume in 2011 exceeded peak 1999 – 2000 levels, but is differentiated from this earlier period by entrepreneurial leaders with a breadth of experience including education, social media and technology; companies with vastly lower cost structures; improved education market receptivity to innovation, and elevated investor sophistication.
    [Show full text]
  • Bryce Start-Up Space 2017
    Start-Up Space Update on Investment in Commercial Space Ventures 2017 Formerly Tauri Group Space and Technology Contents Executive Summary . i Introduction . 1 Purpose and Background . 1 Methodology . 1 Overview of Start-Up Space Ventures. 4 Overview of Space Investors .......................6 Space Investment by the Numbers ................13 Seed Funding . 14 Venture Capital . 15 Private Equity . 17 Acquisition . 17 Public Offering . 17 Debt Financing . 18 Investment Across All Types . 18 Valuation . 19 Space Investors by the Numbers ..................20 Overall . 20 Angels . 23 Venture Capital Firms . 25 Private Equity Groups . 28 Corporations . 29 Banks and Other Financial Institutions . 31 Start-Up Space: What’s Next? . 32 Acknowledgements .............................34 3 Executive Summary he Start-Up Space series examines space investment in the 21st century and analyzes Tinvestment trends, focusing on investors in new companies that have acquired private financing. Space is continuing to attract increased attention in Silicon Valley and in investment communities world-wide . Space ventures now appeal to investors because new, lower-cost systems are envisioned to follow the path terrestrial tech has profitably traveled: dropping system costs and massively increasing user bases for new products, especially new data products . Large valuations and exits are demonstrating the potential for high returns . Start-Up Space reports on investment in start-up space ventures, defined as space companies that began as angel- and venture capital-backed start-ups . The report tracks seed, venture, and private equity investment in start-up space ventures as they grow and mature, over the period 2000 through 2016. The report includes debt financing for these companies where applicable to provide a complete picture of the capital available to them and also highlights start-up space venture merger and acquisition (M&A) activity .
    [Show full text]
  • Sherrie Quinn
    Sherrie Quinn Associate Corporate and M&A, Financing and capital markets Primary practice Corporate and M&A, Financing and capital markets 27/09/2021 Sherrie Quinn | Freshfields Bruckhaus Deringer About Sherrie Quinn <p style="margin: 0in; margin-bottom: .0001pt;">Sherrie is a corporate associate in Silicon Valley. She represents leading technology and life sciences companies in the software/SaaS, hardware, digital media, biotech, and internet industries. Her representation of companies spans the corporate lifecycle, with a focus on mergers, acquisitions, public offerings, divestitures, financings, and other strategic transactions.</p> <p style="margin: 0in; margin-bottom: .0001pt;">&nbsp;</p> <p style="margin: 0in; margin-bottom: .0001pt;">Prior to joining Freshfields, Sherrie was an associate in the San Francisco office of Goodwin Procter, where she represented iconic venture capital firms and<span style="color: red;">&nbsp;</span>emerging and later-stage companies in the software, technology, and life sciences industries throughout their corporate life cycle, including pre-incorporation planning, general corporate representation and counseling, venture capital financings, and mergers and acquisitions.</p> Recent work <h3>Capital Markets</h3> <ul> <li><a href="http://news.freshfields.com/profiles/Global/r/6105/freshfields_serves_as_issuer_s_counsel_to_zymergen_on_its">Zymergen on its Initial Public Offering as a public benefit corporation valued over $4bn</a></li> <li><a href="http://news.freshfields.com/en/Global/r/5938/freshfields_advises_goldman_sachs___co__llc_in_connection">Goldman
    [Show full text]