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Preqin Industry News Download Data View the full edition of Spotlight at: https://www.preqin.com/docs/newsletters/pe/Preqin-Private-Equity-Spotlight-July-2014.pdf News Preqin Industry News Download Data Preqin Industry News Joel Coulson and Chloe Wong take a look at the European venture capital market, including Europe-focused venture capital funds that have recently launched or held a final close, as well as prominent venture capital deals in the region. Several notable European venture capital financings were announced recently: How has venture capital deal activity changed in recent years? In June 2014, Kobalt Music Group Ltd, a global music publisher and music services company that offers administrative and Chart of the Month: Number and Value of Venture creative expertise, raised $115mn funding, of a $140mn round, Capital Deals in Europe, Q1 2007 - Q2 2014 from returning investor Balderton Capital and other unspecifi ed investors. MSD Capital committed $25mn of the $140mn funding 500 3.0 round in February 2014, via primary investment and also the 450 (€bn) Aggregate Deal Value acquisition of a stake from SPARK Ventures, which sold its last 2.5 400 remaining shares in the company. 350 2.0 Elasticsearch, a Dutch open source search engine, added $70mn 300 funding in June 2014 to its $34mn prior funding having raised series 250 1.5 A and series B rounds from Benchmark Capital, Data Collective, 200 No. of Deals 1.0 Index Ventures and SV Angel in November 2012 and February 150 2013. The recent series C round was led by new investor New 100 Enterprise Associates with participation from returning investors 0.5 50 Benchmark Capital and Index Ventures. 0 0.0 June 2014 saw Avantium Technologies raise €36mn in venture Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 capital funding from a number of investors: Aescap Venture, Alpla, 2007 2008 2009 2010 2011 2012 2013 2014 Aster Capital, Capricorn Venture Partners, Coca-Cola, Danone, De No. of Deals Aggregate Value of Deals (€bn) Hoge Dennen Capital, Navitas Capital, Sofi nnova Partners, Swire Source: Preqin Venture Deals Analyst Pacifi c and Voya Corporate Investments. Avantium operate as a technology company that specialises in research and development The Chart of the Month shows the number and aggregate value for applications in the energy, chemicals and pharmaceutical of venture capital deals in Europe from 2007 to 2014 YTD. When industries. looking at the number of deals, it is clear to see that post-2010 deal activity has grown signifi cantly. Similarly, the aggregate Preqin actively tracks the fundraising progress of European value has been increasing since 2010, from €1bn in Q1 2010 to venture capital funds: €1.7bn in Q2 2014 to date. Barcelona-based venture capital fi rm Nauta Capital launched Preqin’s Venture Deals Analyst shows that Q2 2014 saw a lower its fourth fund in June 2014, Nauta Tech Invest IV. The vehicle total number of deals than Q1 2014, but the aggregate deal is targeting $150mn and will invest in technology, software, IT value exceeded the previous quarter. security and ecommerce-focused businesses. Nauta Tech Invest IV will consider international investors for the fi rst time as part of a new strategy direction, and will specifi cally look to make early Key Stats stage disruptive investment in its domestic nation of Spain. Aggregate amount in €mn raised by Index Ventures, a Swiss private equity fi rm, recently closed its 618 Europe-focused venture capital funds seventh fund at €400mn, which aims at seeding start-up companies closed in June. around the world. Its multi-continental geographic investment focus encompasses Europe, Israel and the US. In terms of industry Estimated dry powder (€bn) of Index focus, the early stage fund will be primarily targeting the technology Ventures, the firm that raised the largest and life sciences sectors. Index Ventures continues to remain a 1.0 Europe-focused venture capital fund in prominent choice for investors in European venture capital with a June 2014. solid run of exits in 2013. Do you have any news you would like to share with the readers of Spotlight? Perhaps you’re about to launch a new fund, have implemented a new investment strategy, or are considering investments beyond your usual geographic focus? Send your updates to [email protected] and we will endeavour to publish them in the next issue. 7 Private Equity Spotlight / July 2014 © 2014 Preqin Ltd. / www.preqin.com Preqin Global Data Coverage As of 1 July 2014 alternative assets. intelligent data. Fund Coverage: 37,447 Funds 4,782 PE Real 786 Infrastructure 15,917 Private Equity* Funds 15,962 Hedge Funds Estate Funds Funds Firm Coverage: 17,389 Firms 2,200 PERE 7,921 PE Firms 6,842 Hedge Fund Firms 426 Infra. Firms Firms Performance Coverage: 16,745 Funds (IRR Data for 5,504 Funds and Cash Flow Data for 2,582 Funds) 1,209 5,581 PE Funds 9,795 Hedge Funds PERE 160 Infra. Funds Funds Fundraising Coverage: 15,303 Funds Open for Investment/Launching Soon Including 2,223 Closed-Ended Funds in Market and 358 Announced or Expected Funds 1,801 PE Funds 12,302 Hedge Funds 944 PERE 256 Infra. Funds Funds Deals Coverage: 109,825 Deals Covered; All New Deals Tracked 36,165 Buyout Deals** 64,538 Venture Capital Deals*** 9,122 Infra. Deals Investor Coverage: 11,993 Institutional Investors Monitored, Including 8,430 Verified Active**** in Alternatives and 89,781 LP Commitments to Partnerships 4,654 Active Hedge 2,294 Active 5,337 Active PE LPs 4,463 Active RE LPs Fund Investors Infra. LPs Alternatives Investment Consultant Coverage: 474 Consultants Tracked Fund Terms Coverage: Analysis Based on Data for Around 9,800 Funds Best Contacts: Carefully Selected from Our Database of over 285,505 Active Contacts Plus The Preqin Difference - Over 200 research, support and development staff Comprehensive coverage of: - Global presence - New York, London, Singapore and San - Placement Agents - Dry Powder Francisco - Fund Administrators - Compensation - Depth and quality of data from direct contact methods - Law Firms - Plus much more... - Unlimited data downloads - Debt Providers - The most trusted name in alternative assets New York: +1 212 350 0100 - London: +44 (0)20 7645 8888 - Singapore: +65 6305 2200 - San Francisco +1 415 835 9455 www.preqin.com *Private Equity includes buyout, venture capital, distressed, growth, natural resources and mezzanine funds. **Buyout deals: Preqin tracks private equity-backed buyout deals globally, including LBOs, growth capital, public-to-private deals, and recapitalizations. Our coverage does not include private debt and mezzanine deals. ***Venture capital deals: Preqin tracks cash-for-equity investments by professional venture capital firms in companies globally across all venture capital stages, from seed to expansion phase. The deals figures provided by Preqin are based on announced venture capital rounds when the capital is committed to a company. ****Preqin contacts investors directly to ensure their alternatives programs are active. We emphasize active investors, but clients can also view profiles for investors no longer investing or with programs on hold..
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