There's an interesting article in today's New York Times "Entrepreneurs Rival in China: The State" which contains hints of patent piracy and how one innovative private company ended up competing with a government sponsored company, and losing. Here's the link: http://www.nytimes.com/2011/12/08/business/an-entrepeneurs-rival-in-china-the-state.html?_r=1&ref=asia
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There's an interesting article in Forbes about Chinese venture capital firms investing in US cleantech firms. The link is here: http://www.forbes.com/sites/yonicohen/2011/12/05/cleantech-startups-look-to-china-for-venture-capital/
The article discusses that Chinese venture capital firms, including GSR Ventures, Tsing Capital and DT Capital Partners, are investing in international cleantech deals that have a China connection. In addition, the article highlights that the Chinese government is providing financial incentives and is fast-tracking administrative approvals for these companies. Finally the size of the domestic Chinese market provides great market opportunity. Zynga today filed its S-1/A with the SEC establishing the proposed pricing for its IPO. Zynga is planning to raise up to $1 billion ($1.15 billion if the over-allotment option is exercised) in its IPO, offering 100,000,000 shares of Class A Common Stock at between $8.50 and $10.00 per share. This could value the company at around $7 billion on an outstanding share basis or as much as $10 billion on a fully-diluted basis.
Venture Capital investors include Kleiner Perkins Caufield & Byers, Institutional Venture Partners, Foundry Group, Avalon Ventures and Union Square Ventures. Here's a link to Zynga's roadshow presentation on RetailRoadshow: http://www.retailroadshow.com/sys/launch.asp?qv=11284801363945007&k=43589288736 Here's a link to a Forbes article about Zynga's roadshow: http://www.forbes.com/sites/tomiogeron/2011/12/02/zynga-on-roadshow-seeking-up-to-1-billion-in-ipo/ Steve Case, the co-founder of AOL, and two former AOL colleagues Ted Leonsis and Donn Davis, have raised a $450 million venture capital fund called Revolution Growth Fund. The fund will invest in innovative, high growth companies and will have an East Coast focus. The fund is expected to make 10-12 investments over five years, and expect the typical investment to be $25 to $50 million. The Revolution web site can be found here.
Revolution press release: http://revolution.com/press-release/steve-case-ted-leonsis-and-donn-davis-close-450-million-commitments-revolution-growth Revolution letter on the fund: http://www.revolution.com/our-investments/revolution-growth/letter Dealbook article: http://dealbook.nytimes.com/2011/12/01/steve-case-raises-450-million-venture-fund/ |
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