Mark Boslet
Disruption – the very thing VCs expect from their portfolio companies – has begun to reshape the venture business, Mark Suster told general partners at Thomson Reuters’ Venture Alpha East conference in Boston earlier this month.
Avago Technologies Limited said it will acquire CyOptics, Inc. for about $400 million in cash. The company makes a indium phosphide optical chip for data communications and counts Jerusalem Venture Partners as an investor.
First it was Model N. Then Marin Software. Suddenly 2013 is looking promising for venture-backed enterprise IPOs. This is a good thing for the venture industry’s bottom line.
Ron Conway may have stepped back from funding Y Combinator startups, but FundersClub has stepped in. The online platform for seed investing said it raised a $1.1 million fund to invest in Y Combinator startups.
Textura Corporation said it plans to conduct an IPO of its common stock once the Securities and Exchange Commission finishes a review of its S-1. The company filed confidentially with the commission. The number of shares and their price range have not yet been determined, the company said.
Alphabet Energy Inc. said it raised $16 million in Series B financing. The round was led by Encana Corp. and joined by existing investors Claremont Creek Ventures, TPG Biotech and the CalCEF Clean Energy Angel Fund. The funding allows the company to speed up product development and launch its first product, a device that generates electricity from the exhaust flows of engines in industrial applications.
Mark Heesen, the tireless head of the National Venture Capital Association for 14 years, announced on Thursday his intention to retire from his role as the nation’s top lobbyist for the venture capital industry.
Sumeet Jain announced on his blog that he has joined Intel Capital as an investment director to focus on consumer Internet, mobile Web and software investments. He was previously a partner at CMEA Capital, joining the firm in 2008 and sitting on boards at Apriso, Blekko, Intermolecular, Luminate, WorkingPoint and Zarly.
Cisco Systems said it completed its acquisition of privately held Intucell. The network giant paid about $475 million in cash and retention-based incentives for the operations of the Ra'anana, Israel, -based company.
A key private equity and venture capital index measuring returns in Australia rose by 2.90% in the third quarter of 2012, according to a report from the Australian Private Equity and Venture Capital Association. For the 12 months ending September, the index rose by 6.44%, but trailed the S&P/ASX 300 Index's gain of 14.46%.