PJC Blog  filter by tag: VC_trends

January 7, 2009 at 3:25 pm by Lee

For many of you it will come as no big surprise that 2008 saw some of the lowest levels of startup exits in a number of years. IPOs were at their lowest in more than 30 years, with just six for the full year and none in Q4 2008 when the economic and financial contraction hit top gear. Check my math, but I'm pretty sure that if you annualize zero it's still a pretty low number...
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Tags: VC_trends acquisitions IPO exits Optasite

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November 25, 2008 at 8:34 AM by Dan

For those who have been held up in a cave for the past few months, the credit markets have been in turmoil.  Across all markets, financing companies with debt and equity has become more challenging.  While the impact on venture-backed companies has not been as acute as financial institutions, there has clearly been an impact on financing early stage companies.  Valuations have contracted, firms have increased capital reserved for existing investments, and the bar has been raised in the minds of many investors.

 

For companies seeking to raise follow-on capital, this can present a challenge--particularly for those that are close to key milestones ... but haven't quite reached them.  In an era of higher bars and lower valuations, this often presents a disconnect between the valuation expectations of new investors and management/existing investors.  What to do?

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