Posts Tagged ‘venture capitalist’

Article from GigaOm.

Once an entrepreneur, always an entrepreneur — or something like that is true of 27-year-old Joshua Kushner, who despite being one of the hottest hands in the venture capital business has started his second startup, according to sources in New York.

Kushner, who eschews attention, is keeping everything hush-hush, so much so that even the name of the company is under wraps. In fact, I am still waiting to hear back from him. What I have learned is that it is focused on the healthcare business and is trying to take advantage of the changes in the healthcare industry due to universal healthcare. It has been funded by Kushner’s fund and has hired about fifteen people, mostly in engineering and design.

One of the reasons why Kushner’s new effort is interesting is because he has proved to be a stunningly successful venture capitalist, with a keen eye for consumer internet trends. Kushner started his first startup, Vostu (a social-gaming company based in Brazil) when still a junior in college about five years ago.

He left to work full-time on Thrive Capital, which has three funds and has about $200 million under management. As a venture capitalist, Kushner has been on a tear. His investments include Instagram, CodeAcademy, Dwolla, Fab, Warby Parker, and GroupMe. Of the lot, Instagram was acquired by Facebook and GroupMe was gulped by Skype before it was acquired by Microsoft.

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Here is a story from VentureBeat.

“It has been a rough three months for startups hoping to get acquired. Well, it’s been more like a rough year, but there’s new data from Dow Jones VentureSource focusing on the third quarter of 2009.

Overall, venture-backed liquidity (the combination of mergers, acquisitions, and initial public offerings) added up to $2.7 billion, down 49 percent from the same period last year, VentureSource says. It’s even a drop from the $3 billion of venture liquidity earned in Q2.

Things were even worse for M&As, which fell 56 percent to $2.25 billion paid in 71 deals — though the number would have been higher if VentureSource had counted Amazon’s $807 million purchase of Zappos, which hasn’t closed yet. Instead, that should add a big boost to next quarter’s numbers.

Acquired companies also made less money (median acquisition price fell 52 percent to $22 million) and had been waiting for longer to sell (median age increased 23 percent to 6.13 years).

On the other hand, IPOs were actually up from last year, with a combined total $451.25 million, the highest since 2007. That’s less exciting than it sounds, since the vast majority of that money came from battery company’s A123’s spectacular IPO, and there were only two IPOs in all. So it’s hard to see the increase as indicative of any big trend, except the fact that big IPOs are still possible. But hey, after the yearlong period (which ended in Q2) of no IPOs , that’s something.”

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Here come an article written by Mark Scott at BusinessWeek.

“Last week, I was in Geneva attending a cleantech summit that brought together Europe’s top venture capitalists and entrepreneurs looking for investment. One theme kept emerging: VCs are moving their money away from energy generation projects, such as wind-farm and solar-parks. The reason? Funding those types of businesses is just too expensive for investors already struggling from the global downturn.

That message was reinforced on June 23 when consultants New Energy Finance released preliminary results about cleantech investment. Not surprising, they also found VCs were steering clear of energy generation projects. In the first half of 2009, venture capital and private equity firms forked out $3 billion globally for clean energy companies — a 56% drop compared to the same period last year.”

To read the full story, click here.

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