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最新個案
- A practical guide to SEC ï¬nancial reporting and disclosures for successful regulatory crowdfunding
- Quality shareholders versus transient investors: The alarming case of product recalls
- The Health Equity Accelerator at Boston Medical Center
- Monosha Biotech: Growth Challenges of a Social Enterprise Brand
- Assessing the Value of Unifying and De-duplicating Customer Data, Spreadsheet Supplement
- Building an AI First Snack Company: A Hands-on Generative AI Exercise, Data Supplement
- Building an AI First Snack Company: A Hands-on Generative AI Exercise
- Board Director Dilemmas: The Tradeoffs of Board Selection
- Barbie: Reviving a Cultural Icon at Mattel (Abridged)
- Happiness Capital: A Hundred-Year-Old Family Business's Quest to Create Happiness
NewView Capital and Venture Capital Secondaries
內容大綱
While still a general partner at Silicon Valley-based New Enterprise Associates (NEA), Ravi Viswanathan considered the challenges presented by evolving market dynamics in the venture capital space. Startups were staying private longer, which led to limited partners thirsty for liquidity and venture capital funds managing overloaded portfolios. Viswanathan and the senior leaders of NEA orchestrated the purchase of 31 NEA unrealized portfolio companies by the newly created $1.35 billion NewView Capital spinout that he would head. This secondary transaction provided liquidity to NEA's limited partners and reallocated NEA partners' time to shepherd other portfolio companies, while at the same time allowing NewView Capital to reap gains from future exits from a portfolio of diverse, high-quality growth stage technology companies. Now, as he prepares to raise Fund II, Viswanathan acknowledges that the unique circumstances that enabled the launch of Fund I would not be replicable, and he must consider alternative strategies to pursue next. Should he continue to focus on secondary transactions, focus on direct investments, or some combination of the two?