During the late 90s some feared that the long-term pipeline for innovation might dry up, because venture investing began to outpace federal investments in research and development. Today, the trend lines seem to be reversed, with venture capitalists investing only $21.1 billion in 2002 compared to a $117.3 billion federal R&D budget for fiscal year […]
With the tech boom over and done, an increasing number of venture capitalists have refocused their attention toward the life sciences sector. Last year the industry captured $5 billion, or one-fourth, of all 2002 venture investments, according to the PwC/VE/NVCA Money tree survey. That compares with just 12% in 2001. And this year, experts are […]
While all biotechnology and information technology companies fear hidden legal traps, only the truly paranoid have survived the snare of the Investment Company Act (ICA). That’s because their typical corporate profile fits-inadvertently-the ICA’s definition of an “investment company.” The troublesome attributes for such a company include relatively large liquid assets (especially following a public or […]
A venture capitalist recently settled a suit by a former employee of a defunct portfolio company who claimed he got a raw deal. This particular suit ended up being nothing more than a nuisance, but these suits typically come down the pike naming anybody and everybody, including the company, VC firms and individual partners who […]
Yesterday & Today is a new feature to help readers put things into perspective. Each month, we’ll dig into our archives and dust off the issue of Venture Capital Journal that ran 10 years ago.and answer the question: “Whatever happened to … ?” Yesterday VCJ, May, 1992 Draper Associates Holds First Close Draper Associates last […]
MUNICH – Technology law firm Brobeck Hale & Dorr opened the doors of its Munich office on Jan. 2. The office will be staffed by partners Hubert Besner, Christian Breuer and Rainer Kreifels. All three were previously with the technology-focused Munich-based law firm Besner Kreifels Weber, of which Besner and Kreifels were founding partners in […]
HAARLEM, The Netherlands – Merging their disparate strengths to secure common strategic interests, telecommunications giant KPN Royal Dutch Telecom and Netherlands-based publisher VNU NV became the most recent corporate giants to announce a venture fund. Although the shared private equity investment vehicle currently exists only as a letter of intent and no definite agreement between […]
STAMFORD, Conn. – Whitney & Co. planned to launch its fifth fund, the $2 billion-targeted Whitney V LP, in the late summer or early fall, said Peter Castleman, the firm’s chairman. The firm expects a late-fall close for the vehicle. Whitney focuses on five sectors: communications, health-care, information technology, financial services and those industries undergoing […]
All who are aware of the current Financial Accounting Standards Board (FASB) proposal on business combinations undoubtedly know of the alarm it has generated within the venture capital industry and much of the high-tech community. The FASB’s attempt to eliminate pooling of interests accounting for mergers and acquisitions without addressing the significant short-comings of its […]