Category: Private Equity

The Strategic Buyer as an Endangered Species

About a year ago, we published an article titled “Why Tech Companies are Favoring Private Equity Over IPOs” in which we described the shift from public to private markets as a source of liquidity for shareholders. What we didn’t discuss then is the third and most common route to liquidity,…

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Why Tech Companies Are Favoring Private Equity Over IPOs

Over the past few weeks, the primary story in the financial media, from Barron’s to CNBC, FT and Fortune, has been the IPO market, or the lack thereof. Fortune referenced our research in their cover story “So Long, Wall Street” – specifically, the fact that recently within the tech sector,…

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Salesforce Gets Closer to the Customer Through Demandware Acquisition

Salesforce’s announced acquisition today of Demandware is another big step in the company’s path to get closer to the customer. The addition of ecommerce platform capabilities is a logical extension to the existing Salesforce suite and further rounds out the Salesforce platform in its view of the customer lifecycle. However,…

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Report: Private Capital Market Update 1H 2015

// // The team at Bulger Partners tracks a unique tech-focused data set that integrates private equity growth tech investment with late stage venture to capture growth capital activity. We also analyze the sectors within the technology industry that are attracting capital and the trends in financing terms, offering different…

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VCs Work for School Teachers

The New York Times awoke to the surge in private market investing yesterday with an article that contributed relevant quotes about why many CEOs prefer to avoid an IPO.  They even found a tech CEO who admitted to being “terrified” of the public markets.  Ouch.  The NYT article can be found…

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Are the Unicorns Deceptive?

The private market is so healthy that even Silicon Valley journalists are publishing the “B” word (“Bubble”, not the one that rhymes with rich).  The robust private market has made the tech IPO an after thought; so much so that we are headed for the lowest issuance since 2009.  The…

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What You’re Missing When You Skimp on Tech Diligence

Throughout my career I have led hundreds of diligence assignments, first as a CTO and Corpdev exec, then as a venture investor, and most recently as co-head of a software-focused strategy consulting practice. While this work has covered all facets of diligence, a majority of these assignments have been product…

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What Does HIMSS15 Tell Us About Venture Investment In Healthcare IT?

[Contributed by Mike MacKeen, originally published on Raising the Next Round]Over 20,000 people will gather next week in Chicago for this year’s HIMSS conference. This nexus of the digital health world is a must-attend event for HCIT vendors. The attendee list allows us to get a snapshot of how the…

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4 Reasons Why Market Sizing in Tech is Unique

// How much is Uber worth? You might have your hand raised, eagerly waving around in the air, so you can answer an enthusiastic $40 billion. And yes, you’re right, that was its most recently announced valuation in December 2014.But had I asked Aswath Damodaran, a New York University professor…

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Your VC’s Cap Table Math Could Be Hurting You

[Contributed by Mike MacKeen, originally published on Raising the Next Round] This post includes some geeky accounting issues, but read it. It can change how much dilution you take in the next round.Later-stage investors are delivering our companies attractive valuations. Just look at the latest Unicorn list.However, many companies are not…

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