U.S. Startups Raised $130B In Record-Smashing 2020
Just weeks into the pandemic, we reported that venture capitalists were still doing deals, even though their offices were closed and their flights were canceled. But we didn't quite foresee the WFH gusto.
Zeus Living Aids Displaced Students And Healthcare Workers
Zeus, a company that offers temporary housing on a monthly basis, is using its platform to help students and healthcare workers in the midst of the coronavirus pandemic. With over 2,400 apartments on its platform, the company has started offering $1,000 off the first month's rent to both students near closed campuses and to healthcare workers.
Why Venture Capital Might Avoid "Fund Size Cuts" During Coronavirus Crisis
We're living through the third financial crisis of the modern venture capital era, following the dotcom crash and the housing bust. There wasn't a widespread push for "fund size cuts" in 2008, save for a few efforts tied to funds that had closed just before Lehman went under.
Activist Sandell Urges Barnes & Noble Board To Explore A Sale
Sandell Asset Management Corp., the sometimes-activist hedge fund, is urging Barnes & Noble Inc. to explore a sale amid a hostile environment for retailers. The New York-based hedge fund said it has built a “meaningful position” in Barnes & Noble, in a letter to the bookseller’s board on Tuesday. Sandell said the company should explore a sale, which could fetch more than $12 a share, or a 69 percent premium over where shares closed on Monday. “Stakeholders would be better served if Barnes & Noble were operated as a private company or as a division within a larger company, which...
A Template For A Closed Multi-Family Office
An interesting family investment concept is the closed multi-family office. A closed MFO is a family office that works with a few families but is not actively looking to increase the number it works with. Effectively, it is a way of institutionalising a co-investing arrangement between like-minded investors.
Novacap Wraps Up Fifth Fund At $840M
Canadian private equity firm Novacap has closed its fifth fund at a hard cap of $840 million. The limited partners of NOVACAP TMT V include public and corporate pension funds, insurance companies, endowments, foundations, family offices and individual investors in Canada, the U.S., Europe and Australia. The fund will focus on a wide number of tech sectors that include software, internet infrastructure and e-commerce and make individual investments ranging from $20 million to $100 million.
HarbourVest Wraps Up Fourth Co-investment Fund At $1.75B
HarbourVest Partners has closed its fourth oversubscribed co-investment fund at a hard cap of $1.75 billion, beating its original $1 billion target. The limited partners of HarborVest Partners Co-Investment IV include private and public pensions, corporations, foundations and family offices from all over the world.
Brentwood Fund VI Raises $1.15B
Brentwood Associates said July 12 that its latest fund closed with $1.15 billion, exceeding its $750 million hard cap and target. Fund VI will make control investments in companies with enterprise values between […]
Markets No Longer Make Sense To Macro Managers
After spending three decades focusing on things like economic trends, currency moves, politics and policy, Spindel has been confounded by markets shaped by low volatility, algorithms and more. He finally gave up and closed his nine-year-old hedge fund. “I felt the intensity of following markets at a time of increasing political and economic confusion very hard,” said Spindel, founder of Potomac River Capital in Washington. “My entire career had centered on an understanding of monetary politics and I had trouble getting my head around it all. It was exhausting.” These are troubled -- and troubling -- times for macro managers,...
Black Swan Dexteritas
At Black Swan Dexteritas, we are dedicated to generating strong financial performance for our investors and fostering long-term relationships with our clients to create exceptional investment opportu...