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Posts Tagged ‘Khosla Ventures’

Article from TechCrunch.

Looks like the seed funding wave continues to get stronger. The latest evidence: Khosla Ventures, the Silicon Valley venture capital firm headed up by tech industry veteran Vinod Khosla, appears to be raising a new seed fund, according to regulatory documents filed with the Securities and Exchange Commission this afternoon.

According to the filing, the new fund is called “Khosla Ventures Seed B.” At the moment, details are very scarce: No money has been raised just yet, the filing says, and there is no maximum or minimum amount ascribed to the offering.

Khosla Ventures’ last seed-related fund raise was closed in January 2010, when the firm raised $300 million for a fund called “Khosla Ventures Seed.” This past fall, the firm raised $1 billion for its more general venture fund, Khosla Ventures IV.

Want to eventually get a piece of Khosla’s newest seed fund? Here’s what the firm’s website says it looks for in its earliest stage investments:

At the seed stage, what we’re really looking for is a crazy idea that may have a significantly non-zero chance of working. We want good teams. We don’t need complete teams or even complete plans, but the key technology risks of your approach—and the economic and market benefits if it is successful—need to be identified. From a seed perspective, planning for risk elimination at the lowest possible cost is the key variable we look for. Your seed plan should validate your hunches about the market and help you decide what market segment you want to enter.

We’ve reached out to the folks at Khosla Ventures for more details on the raise, and will report back with any additional information we receive.

Read more here.

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Article from SFGate.

“The solar power system Facebook Inc. plans for its new Menlo Park headquarters won’t just supply electricity. It’ll heat water for the showers, too. And maybe help clean dishes in the cafe.

The system will be designed and installed by Cogenra Solar, a Mountain View startup that uses the sun’s energy to produce electricity and hot water at the same time. The collection of solar cells, mirrors and pipes will sit atop Facebook’s 10,000-square-foot fitness center, powering the exercise equipment and churning out steaming water for the locker rooms.

The technology’s dual use makes it far more cost-effective than conventional solar systems that provide electricity alone, said Cogenra CEO Gilad Almogy. And while neither company will say how much the array will cost Facebook, Almogy said the social networking giant will recoup its investment in less than five years.

“It’ll be a shorter payback than any other form of renewable energy,” Almogy said.

Planting solar panels on the office or warehouse roof has become de rigueur for many Bay Area companies. By those standards, Facebook’s solar array will be relatively modest, generating 60 kw of electricity and thermal output, combined. A typical home solar system produces about 3 kilowatts of electricity.

The array will cover only one roof on the nine-building campus, which used to house Sun Microsystems. But Facebook could expand the system if it performs as advertised, possibly using the hot water in the existing cafe and another planned for the campus. John Tenanes, Facebook’s director of global facilities, said his company is taking the same approach to solar that it takes to its Web service – checking out a promising new idea to assess its potential.

“We try stuff and see if it works,” he said. “And that’s what this is. Cogenra is really our initial investment (in solar power), and we’re going to see how well it works.”

Cogenra’s technology is designed to use energy that other solar set-ups waste.

Photovoltaic panels absorb a small fraction of the energy the sun throws at them, typically 15 to 20 percent. The rest is wasted as heat.

Cogenra arrays, however, run fluid-filled tubes behind the solar cells, with the fluid absorbing some of the heat cast off by the cells. The fluid – a chemical compound kept in a sealed loop – then transfers the heat to water. Curved troughs of mirrors concentrate sunlight on the cells, while motors keep the troughs pointed at the sun as it arcs across the sky.

Cogenra has already installed a 272-kilowatt system at a Sonoma winery, which uses the hot water to clean barrels. The Sonoma Wine Co. array, however, is mounted on the ground. The Facebook array will rest on the rooftop and will weigh far less. The company also plans to install a rooftop version of its technology on a University of Arizona dormitory.

“Not all customers who need significant amounts of hot water have nearby land to use,” Almogy said.

Backed by Khosla Ventures, Cogenra also tries to keep costs down by using solar cells, inverters, mirrors and tracking equipment made by other companies. The company’s ability to take off-the-shelf gear and turn it into something new impressed Facebook.

“They mashed together all these different things, and it seems to work well together,” Tenanes said.”

Read more here.

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Here is a good Techcrunch article about Foursquare.

“A months long fundraising process for Foursquare is in its last stages, we’ve heard from multiple sources, and Andreessen Horowitz looks to be preparing to check-in to Foursquare to take an investor badge.

The company has delayed committing to new venture capital as they considered buyout offers – negotiations went deep with both Yahoo and Facebook, and possibly Microsoft. The Yahoo discussions ended weeks ago, and Facebook passed on an acquisition earlier this week, we’ve heard.

That means the company is raising that big new round of financing. And a slew of venture capitalists, including Accel Partners, Andreessen Horowitz, Khosla Ventures, Redpoint Ventures, Spark Capital and First Round Capital were all rumored to competing heavily for inclusion despite the $80 million or so valuation, say our sources.

Andreessen Horowitz, despite rumors that they were pulling out of discussions with the company weeks ago over concerns that too much information was leaking to the press, is the last venture capitalist standing. The fact that founding partner Marc Andreessen is on the board of directors of Facebook, a key partner or competitor of Foursquare, may be the factor that put them over the top.

Existing investors OATV and Union Square Ventures will also participate heavily in the new round, we’ve heard. In the meantime they’ve likely already loaned additional capital to the company.”

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Here is an article from Venture Capital Dispatch.

“The latest sign of a shakeout in the clean-technology sector is news that battery company Firefly Energy Inc. is shutting down after failing to raise a $20 million round of fresh capital. VentureWire has the story. The company, whose backers include cleantech powerhouse Khosla Ventures, developed a technology for replacing conventional lead plates in batteries with carbon-based foam. Expect more such stories as companies that raised capital when VC enthusiasm for cleantech was boundless find that the bar is now much higher.

Venture capitalists can keep breathing easy on the regulatory front as the latest effort to rein in the financial industry largely exempts them. Revised legislation submitted by Senate Banking Committee Chairman Chris Dodd, a Connecticut Democrat, requires hedge funds with more than $100 million of assets under management to register with regulators, but still exempts private equity and venture funds, VentureWire reports. Of course the game isn’t over yet, but Dodd’s bill is easier on private equity than the House and Obama administration versions and, as anyone following the health-care debate knows, crafting a bill that can pass muster in the Senate is the hardest battle.

Across the Atlantic, similar regulatory matters continue to provoke controversy, as European finance ministers delay plans to vote on a directive regulating hedge funds, private equity and venture capital investment. The proposal has the potential to decimate the venture capital industry in the European Union, critics say.”

Read the full article here.

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Here is an article from SF Chronicle´s tech section worth reading.

“Intel Corp. and 24 venture capital firms will invest $3.5 billion in U.S. technology startups over the next two years, as part of a broad initiative to boost the nation’s competitiveness and create jobs.

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