Flarep ?
VC?S AND REPORTING REQUIREMENTS
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There are very few formal reporting requirements for venture capital
funding, though in the U.S. there are a number of reasons that
announcements are made anyway.
In fact, the company now known as Segway was able to raise money and
build a $90M factory in New Hampshire with virtually no public
disclosure. Only afterwards did the world learn that Jeff Bezos (of
Amazon.com) was involved; that Kleiner Perkins had invested $38
million and Credit Suisse First Boston was the other lead VC:
Guardian Unlimited
?This is Ginger, and it's the future. Not at all like the Sinclair
C5,? (Millar, Dec. 4, 2001)
http://education.guardian.co.uk/higher/engineering/story/0,9840,611783,00.html
Very rarely a company will find itself in a situation where it has
more than 500 employees or more than 500 shareholders, both of which
trigger public reporting requirements under U.S. SEC rules, as the
following article (source uncited) indicates:
Southern Connecticut State University
?A Quirky Brilliance vs. the Dreams of Venture Capitalists, ?
(Hansell, April 26, 2004)
http://www.southernct.edu/~hochman/googlemoney.htm
Most often the public statements are made because venture funds often
have participants from public companies or pension funds with
reporting requirements. And the releases are made to increase the
visibility of both the company and venture firms in the market.
Finally, you?ll find that disclosure is much more common in the U.S.
than in Europe, where financial disclosure laws have traditionally
lagged the requirements in the U.S. Often you?ll see European
?announcements? with no identification of amount or uses of the funds.
VENTURE CAPITAL PUBLICATIONS
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Despite the lack of formal rules requiring reporting, the size of the
industry has made lots of information available. The National Venture
Capital Association (NVCA) says that there were almost 8,100 deals in
2000 ? the peak year when $106 billion was invested. This year some
$20 billion will be raised in about 2,700 deals:
NVCA
?Industry Statistics?
http://www.nvca.org/ffax.html
The NVCA tracks top-level summary statistics on the industry, as do
other sources, including Dow-Jones? Venture One service. You?ll see
links on this page to Venture One?s summary of 2004 VC activity,
including number of deals, amounts, and exit activity when
venture-funded companies go public:
Venture One Home Page
http://www.ventureone.com/
The best publication to track investments on a deal-by-deal basis is
also a Dow-Jones? publication, VentureReporter.net. It has individual
deals, a historical archive, stats by state and by industry ? so you
should be able to find a lot of useful information about the medical
industry. There?s a fair amount available via public access; more
available with free registration. However, the really powerful
features may require a $1,000 annual subscription:
VentureReporter Home Page
http://www.venturereporter.net
Dow-Jones also runs three different print publications, including
separate versions covering the health care and technology markets ?
the two largest sectors for venture funding. Note that the ?health
care? market covers the entire range of health services, biotech and
medical companies. Each newsletter is $1,195 per year:
Investan (Dow-Jones)
http://www.assetnews.com/
Venture Capital Analyst? Health Care Edition
http://www.assetnews.com/products/news/advcah.htm
Another good publication is Thomson Venture?s Private Equity Week, a
$1,595 per year weekly publication that stays on top of early-stage
and other private investments. Thomson also has other publications
that concern other stages of the venture investment cycle, including
IPO Reporter:
Thomson Venture
?Publications?
http://www.ventureeconomics.com/vec/publications.html
Thomson also publishes Venture Capital Journal, which deals with more
analysis, but also has some news of investment activity. For older
versions of VC Journal, you can use Thomsons Business and Finance
Resource Center, an online database that is fee-based ? but available
at many public libraries for no charge:
Venture Capital Journal
http://www.venturecapitaljournal.net/
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Beyond tracking Google News or the Wall Street Journal (wsj.com) on a
daily basis for venture news, another option for you might be the San
Jose Mercury-News. It does a quarterly update on venture activity
which outlines many deals; has a special VC report; and also has a
columnist covering VC specifically:
San Jose Mercury-News
?Business?
http://www.mercurynews.com/mld/mercurynews/business/
Note too, that there are some European publications, including this
one in the U.K.:
Venture Dome (U.K. ? 99? subscription)
http://www.venturedome.com/
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It?s also worth noting that trade associations may track venture
funding. Though I could find none in the medical community that do,
one example is the the Fabless Semiconductor Association, does a
quarterly news release in which it summarizes VC funding for
semiconductor companies:
Fabless Semiconductor Association
?News?
http://www.fsa.org/news/default.asp
The Google search strategy for this answer included:
"venture capital" newsletter
Google + ?500 employees?
Ginger + scooter + ?venture capital?
?venture capital? medical investment
As a final note and tip on using Google Answers, if you do a search
for ?venture capital? (in quotes) it will search this service only.
You?ll find that myself and a few other researchers often tackle those
questions. Here for example is an excellent answer by Leli-GA (who?s
in the U.K.) on venture capital in that country:
Google Answers
?Venture Capitalists in U.K.,? (Leli-GA, June 11, 2003)
http://answers.google.com/answers/threadview?id=215461
And another excellent one on international venture associations by Leader-GA:
Google Answers
?International associations of private equity funds,? (Leader-GA, April 8, 2003)
http://answers.google.com/answers/threadview?id=187257
Finally, if there?s any aspect of this answer that?s unclear, please
let me know via a clarification request before rating the answer.
Best regards,
Omnivorous-GA |