Jeremy Glaser - Current Trends in United States Venture Capital Investing

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Looking for the Next BIG thing: Israel's leading investors speak 8/2/11

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Jeremy Glaser - Current Trends in United States Venture Capital Investing

  1. 1. Current Trends in United States Venture Capital InvestingMIT Enterprise Forum of IsraelLooking for the Next BIG Thing: Israels leading investors speakFebruary 8, 2011
  2. 2. Israel Business PracticeWho We Are• AM-Law 100 full service U.S. law firm• Offices in Boston, London, UK, Los Angeles, New York, Palo-Alto, San Diego, Stamford, CT, Washington D.C.• Israel liaison office in Herzelia• Recognized leader in serving technology based companies in Industries such as high- tech, health, clean-tech and the life-sciences• 40 years of experience in taking emerging technology companies public• Over 10 years of experience in supporting Israeli businesses• Over 80% of our firm’s attorneys have Israel-related work experience• Commitment to working with clients to build long term successMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 2
  3. 3. Israel Business PracticeRepresentative Israeli Clients • Alvarion • Lumenis • American Well Corp • Medingo • Cheetah Medical • Mobile Access Networks • CellEra Technologies • NeuroPhage • Elron • Nice Systems • Gamida Cell • RDC • Glycominds • Rosetta Genomics • IMDsoft • Scodix Ltd. • Israel Discount Bank of NY • Teva PharmaceuticalsMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 3
  4. 4. Venture Capital and Emerging CompaniesVenture Capital and Emerging Companies• More than 200 completed venture capital transactions since 2008, with an aggregate transaction value of over $1.7 billion• Represent founders, companies and venture capital and other investors• All stages, from early or seed-stage investments through subsequent multi-investor and late stage financing• Frequently initiate introductions between our start-up clients and our network of “angel” investors and venture capital firmsMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 4
  5. 5. Current Trends in United States Venture Capital InvestingVenture-Backed IPO’s and M&A Deals, 2005-2010 Source: NVCAMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 5
  6. 6. Current Trends in United States Venture Capital InvestingTotal Dollars Raised by VC Funds – 2005-2010 Source: NVCAMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 6
  7. 7. Current Trends in United States Venture Capital Investing Investment in Different Stages Source: PWC/NVCA MoneyTree Report, Q4 2010Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 7
  8. 8. Current Trends in United States Venture Capital InvestingVC Investments in IT, Biotech and Cleantech, 2005-2010 Source: PWC/NVCA MoneyTree ReportMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 8
  9. 9. Current Trends in United States Venture Capital InvestingZynga Financings• January 15, 2008: Zynga raises $10M from Avalon Ventures; Foundry Group; and Union Square Ventures• July 23, 2008: Zynga raises $29M from Avalon Ventures; Foundry Group; Institutional Venture Partners; Kleiner Perkins; and Union Square Ventures• December 15, 2009: Zynga raises $180M from Andreessen Horowitz; Institutional Venture Partners; Mail.ru Group; and Tiger Global Management• June 14, 2010: Zynga raises $150M from SOFTBANK Corp.• July 10, 2010: Zynga raises $200M from Google Inc.Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 9
  10. 10. Current Trends in United States Venture Capital InvestingTwitter Financings• July 25, 2007: Twitter raises $4.8M from Charles River Ventures and Union Square Ventures, among others• January 8, 2008: Twitter receives an undisclosed amount from DG Incubation, Inc.• May 21, 2008: Twitter raises $15M from Union Square Ventures• June 24, 2008: Twitter raises an undisclosed amount from Bezos Expeditions; DG Incubation; Spark Capital; and Union Square Ventures• February 12, 2009: In a Series C round, Twitter receives $21M from Benchmark Capital and $14M from Institutional Venture Partners, in addition to funds from DG Incubators, Charles River Ventures, Spark Capital and Union Square Ventures• September 24, 2009: Twitter raises $100M from T. Rowe Price Group, Insight Venture Partners, Spark Capital and Institutional Venture Partners• November 17, 2010: Kleiner Perkins and other existing investors raise $200M for Twitter; to date, Twitter has raised over $360MMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 10
  11. 11. Current Trends in United States Venture Capital InvestingFacebook Financings• April 15, 2005: Facebook raises $12.7M from Accel Partners in a Series A financing• April 19, 2006: Facebook receives $27.5M in funding from Greylock Partners; MeriTech Capital Partners; Accel; and Peter Thiel• October 24, 2007: Facebook raises $240M in an equity round from Microsoft, with Microsoft holding a 1.6% stake in the company• April 22, 2009: Facebook raises another round of funding from Millennium Technology Value Partners• May 26, 2009: Facebook receives $200M in funding from Digital Sky Technologies Limited, which receives a 1.96% stake in the company, valuing it at $10B• December 31, 2010: Facebook receives a $500M round of equity funding from Goldman Sachs, Merchant Banking Division and Mail.ru Group, valuing the company at $50BMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 11
  12. 12. Current Trends in United States Venture Capital InvestingGroupon Financing• December 2, 2009: Groupon raises $30M from Accel Partners and New Enterprise Associates• April 16, 2010: Groupon raises $135M from Accel; Battery Ventures; and Mail.ru Group, and issues equity securities• December 17, 2010: Groupon raises $950.09M from Fidelity Investments; Mail.ru Group; Morgan Stanley Private Equity; and T. Rowe Price Group – As of January 10, 2011, a number of other VCs had joined the investment, including Kleiner Perkins; Andreessen Horowitz; Battery Ventures; Greylock Partners; Mail.ru Group; Maverick Partners; Silverlake Partners; and Technology Crossover Ventures, valuing the company at $4.75BMintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 12
  13. 13. Thank You!Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 13

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