The Series A lottery: VCJ report
Looks like a job for Private Equity (and VC) Man:Quip turned heads this year when the company co-founded by former Facebook CTO Bret Taylor raised $15 million in a Series A deal led by Benchmark Capital. Last November Retrofit put on a command performance of its own when it secured an $8 million Series A led by Draper Fisher Jurvetson.
Times seem good for young Internet, software and enterprise companies. Disruptive innovation is everywhere. Companies are attracting huge rounds based on VC conviction that these early-stage bets will hit it big.
But there is much to worry about. The trouble is not with quality, but with quantity. The number of seed-stage companies descending on GPs has turned into a surge, and for every one that receives money, perhaps 10 do not. Not enough cash or partner time exists, and difficult financings, even down rounds, appear on the rise....MORE
Bono's Elevation Partners Runs $90 Mil to $1.5 Bil in Facebook, Making Him the World's Most Insufferable Musician (FB)
It's a beautiful day ... for a private equity group buyout. Bono has got
in on the act with his private equity outfit, Elevation Partners....
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Africans to Bono: 'For God's sake please stop!'
