An Initial Overview of the Venture Capital & Private ... - Research Report ToCs/09.01.01 -...

Financial Institutions Research Report Series &

Financial Advisors Research Report Series

An Initial Overview of the Venture Capital & Private Equity Industry

January 2009

09.01.01 – Venture Capital & Private Equity Tiburon Strategic AdvisorsTM

2

TABLE OF CONTENTS

INTRODUCTION, KEY FINDINGS, & EXECUTIVE SUMMARY........................45

A SYNOPSIS OF FINANCIAL SERVICES INDUSTRY PRODUCTS & SERVICES..........................................................................................................68

EVOLUTION OF THE VENTURE CAPITAL & PRIVATE EQUITY INDUSTRY.75

Market History ............................................................................................75

Early Days ..........................................................................................................75

Private Equity Growth .........................................................................................75

Venture Capital Prominence ...............................................................................75

Private Equity Renewal.......................................................................................76

Market Defintion .........................................................................................77

Venture Capital ...................................................................................................77

Private Equity......................................................................................................77

Mezzanine Finance.............................................................................................77

Market Growth ............................................................................................77

Venture Capital & Private Equity Firms ...............................................................77

Venture Capital & Private Equity Funds ..............................................................77

Venture Capital & Private Equity Fund Flows......................................................77

Venture Capital & Private Equity Fund Assets Under Management ....................78

Venture Capital & Private Equity Fund Commitments .........................................78


Key Issues ..................................................................................................78

Volatile Initial Public Offering Market...................................................................79

Investment Product Polarization .........................................................................80

Emergence of Indices .........................................................................................84

Emergence of Secondary Market........................................................................84

Fees Vary ...........................................................................................................84

Due Diligence & Manager Selection....................................................................85

Liquidity Problems ..............................................................................................87

Retailization ........................................................................................................87

Larger Funds ......................................................................................................88

Internal Rate of Return........................................................................................88

New Firms Enter Industry....................................................................................88

Management Strategy.........................................................................................91

Funds-of-Funds ..................................................................................................91

Contract Negotiation ...........................................................................................92

Performance Reporting.......................................................................................92

Diversification Requirements ..............................................................................92

Leading Venture Capital & Private Equity Firms .....................................93

Venture Capital & Private Equity Funds ..............................................................93

Venture Capital & Private Equity Fund Flows......................................................93

Venture Capital & Private Equity Fund Assets Under Management ....................93



MARKET SEGMENTATION...............................................................................95

Venture Capital...........................................................................................95

Private Equity ...........................................................................................119


3

Mezzanine Finance...................................................................................133

MARKETS & DISTRIBUTION CHANNELS .....................................................138

Direct Distribution....................................................................................138

Financial Advisor Markets.......................................................................140

Institutional Markets ................................................................................140

International Markets ...............................................................................141

FUTURE PREDICTIONS FOR THE VENTURE CAPITAL & PRIVATE EQUITY INDUSTRY .......................................................................................................142

Impressive Industry Growth....................................................................142

Evolving Markets & Distribution Channels ............................................144

New Fund Structures ...............................................................................145

Rise of Compliance Issues......................................................................145

Evolving Investments ..............................................................................145

Early Signs of Bifurcation .......................................................................146

APPENDIX .......................................................................................................147

Profiles of Venture Capital & Private Equity Firms ...............................147

Aavin Equity Partners .......................................................................................147

History...........................................................................................................147

Statistics........................................................................................................147

Businesses....................................................................................................147

Organization & Ownership.............................................................................147

AB Asesores Electra.........................................................................................148

History...........................................................................................................148

Statistics........................................................................................................148

Businesses....................................................................................................148


Abbott Capital Management..............................................................................148

History...........................................................................................................148

Statistics........................................................................................................149

Businesses....................................................................................................149


Abell Venture Fund ...........................................................................................149

History...........................................................................................................149

Statistics........................................................................................................150

Businesses....................................................................................................150


Aberdare Ventures............................................................................................150

History...........................................................................................................150

Statistics........................................................................................................150

Businesses....................................................................................................151


Aberdeen Asset Management...........................................................................151

History...........................................................................................................151

Statistics........................................................................................................151

Businesses....................................................................................................151


Abingworth Management Limited......................................................................152

History...........................................................................................................152


4

Statistics........................................................................................................152

Businesses....................................................................................................152


Abn Amro Private Equity...................................................................................152

History...........................................................................................................153

Statistics........................................................................................................153

Businesses....................................................................................................153


Abry Partners....................................................................................................153

History...........................................................................................................153

Statistics........................................................................................................154

Businesses....................................................................................................154


ABS Capital Partners ........................................................................................154

History...........................................................................................................154

Statistics........................................................................................................154

Businesses....................................................................................................154


ABS Ventures ...................................................................................................155

History...........................................................................................................155

Statistics........................................................................................................155

Businesses....................................................................................................155


Abundance Venture Capital ..............................................................................155

History...........................................................................................................155

Statistics........................................................................................................156

Businesses....................................................................................................156


Acacia Venture Partners ...................................................................................156

History...........................................................................................................156

Statistics........................................................................................................156

Businesses....................................................................................................157


Academy Funds................................................................................................157

History...........................................................................................................157

Statistics........................................................................................................157

Businesses....................................................................................................157


Accel Partners ..................................................................................................158

History...........................................................................................................158

Statistics........................................................................................................158

Businesses....................................................................................................158


Accel KKR ........................................................................................................159

History...........................................................................................................159

Statistics........................................................................................................159

Businesses....................................................................................................159


Access Capital Corporation...............................................................................160

History...........................................................................................................160

Statistics........................................................................................................160


5

Businesses....................................................................................................160


Access Venture Partners ..................................................................................160

History...........................................................................................................160

Statistics........................................................................................................161

Businesses....................................................................................................161


Accuitive Medical Ventures ...............................................................................161

History...........................................................................................................161

Statistics........................................................................................................161

Businesses....................................................................................................161


Acer Technology Ventures................................................................................162

History...........................................................................................................162

Statistics........................................................................................................162

Businesses....................................................................................................162


ACF Equity Atlantic ...........................................................................................162

History...........................................................................................................163

Statistics........................................................................................................163

Businesses....................................................................................................163


Achenbaum Capital Partners ............................................................................163

History...........................................................................................................163

Statistics........................................................................................................164

Businesses....................................................................................................164


ACI Capital Corporation ....................................................................................164

History...........................................................................................................164

Statistics........................................................................................................164

Businesses....................................................................................................164


Ackerley Partners .............................................................................................165

History...........................................................................................................165

Statistics........................................................................................................165

Businesses....................................................................................................165


Acorn Angels ....................................................................................................165

History...........................................................................................................165

Statistics........................................................................................................166

Businesses....................................................................................................166


Acorn Ventures .................................................................................................166

History...........................................................................................................166

Statistics........................................................................................................166

Businesses....................................................................................................167


ACT Ventures Capital .......................................................................................167

History...........................................................................................................167

Statistics........................................................................................................167

Businesses....................................................................................................167


6


Acuity Ventures.................................................................................................168

History...........................................................................................................168

Statistics........................................................................................................168

Businesses....................................................................................................168


Ad Ventures......................................................................................................168

History...........................................................................................................168

Statistics........................................................................................................169

Businesses....................................................................................................169


Adams Capital Management.............................................................................169

History...........................................................................................................169

Statistics........................................................................................................169

Businesses....................................................................................................169


Adams Street Partners......................................................................................170

History...........................................................................................................170

Statistics........................................................................................................170

Businesses....................................................................................................170


Add Partners.....................................................................................................171

History...........................................................................................................171

Statistics........................................................................................................171

Businesses....................................................................................................171


Adena Ventures ................................................................................................171

History...........................................................................................................171

Statistics........................................................................................................172

Businesses....................................................................................................172


Adobe Ventures IV............................................................................................172

History...........................................................................................................172

Statistics........................................................................................................172

Businesses....................................................................................................172


Advance Capital Partners .................................................................................173

History...........................................................................................................173

Statistics........................................................................................................173

Businesses....................................................................................................173


Advance Property Fund ....................................................................................173

History...........................................................................................................173

Statistics........................................................................................................174

Businesses....................................................................................................174


Advanced Technology Ventures ......................................................................174

History...........................................................................................................174

Statistics........................................................................................................175

Businesses....................................................................................................175



7

Advantage Capital Partners ..............................................................................175

History...........................................................................................................175

Statistics........................................................................................................175

Businesses....................................................................................................176


Advag Management..........................................................................................176

History...........................................................................................................176

Statistics........................................................................................................176

Businesses....................................................................................................176


Advent International .........................................................................................177

History...........................................................................................................177

Statistics........................................................................................................177

Businesses....................................................................................................177


Advent Venture Partners...................................................................................178

History...........................................................................................................178

Statistics........................................................................................................178

Businesses....................................................................................................178


Aegis Capital.....................................................................................................179

History...........................................................................................................179

Statistics........................................................................................................179

Businesses....................................................................................................179


Aerostar Capital ................................................................................................179

History...........................................................................................................179

Statistics........................................................................................................180

Businesses....................................................................................................180


Affarsstrategerna ..............................................................................................180

History...........................................................................................................180

Statistics........................................................................................................180

Businesses....................................................................................................180


Affiliated Managers Group ................................................................................181

History...........................................................................................................181

Statistics........................................................................................................181

Businesses....................................................................................................181


Affinity Capital Management .............................................................................181

History...........................................................................................................181

Statistics........................................................................................................182

Businesses....................................................................................................182


AG Edwards .....................................................................................................182

History...........................................................................................................182

Businesses....................................................................................................182


Agave Capital ...................................................................................................183

History...........................................................................................................183


8

Statistics........................................................................................................183

Businesses....................................................................................................183


Agilent Ventures ...............................................................................................184

History...........................................................................................................184

Statistics........................................................................................................184

Businesses....................................................................................................184


Agility Capital ....................................................................................................184

History...........................................................................................................185

Statistics........................................................................................................185

Businesses....................................................................................................185


Agio Capital Partners ........................................................................................185

History...........................................................................................................185

Statistics........................................................................................................186

Businesses....................................................................................................186


Agricapital Corporation .....................................................................................186

History...........................................................................................................186

Statistics........................................................................................................186

Businesses....................................................................................................186


AH Ventures .....................................................................................................187

History...........................................................................................................187

Statistics........................................................................................................187

Businesses....................................................................................................187


Aim High Enterprises ........................................................................................187

History...........................................................................................................187

Statistics........................................................................................................188

Businesses....................................................................................................188


Akers Capital ....................................................................................................188

History...........................................................................................................188

Statistics........................................................................................................188

Businesses....................................................................................................189


Al Shugart International ....................................................................................189

History...........................................................................................................189

Statistics........................................................................................................189

Businesses....................................................................................................189


Alacrity Ventures...............................................................................................190

History...........................................................................................................190

Statistics........................................................................................................190

Businesses....................................................................................................190


Alameda Capital ...............................................................................................190

History...........................................................................................................190

Statistics........................................................................................................191


9

Businesses....................................................................................................191


Albion Investors ................................................................................................191

History...........................................................................................................191

Statistics........................................................................................................191

Businesses....................................................................................................191


Alchemy Partners .............................................................................................192

History...........................................................................................................192

Statistics........................................................................................................192

Businesses....................................................................................................192


Alerion Partners ................................................................................................192

History...........................................................................................................192

Statistics........................................................................................................193

Businesses....................................................................................................193


Alexander Hutton Venture Partners ..................................................................193

History...........................................................................................................193

Statistics........................................................................................................193

Businesses....................................................................................................194


Alfa Capital .......................................................................................................194

History...........................................................................................................194

Statistics........................................................................................................194

Businesses....................................................................................................194


Alfred Street Partners .......................................................................................195

History...........................................................................................................195

Statistics........................................................................................................195

Businesses....................................................................................................195


Alice Ventures...................................................................................................195

History...........................................................................................................195

Statistics........................................................................................................196

Businesses....................................................................................................196


All American Capital..........................................................................................196

History...........................................................................................................196

Statistics........................................................................................................196

Businesses....................................................................................................196


Allegis Capital ...................................................................................................197

History...........................................................................................................197

Statistics........................................................................................................197

Businesses....................................................................................................197


Allegra Capital Partners ....................................................................................198

History...........................................................................................................198

Statistics........................................................................................................198

Businesses....................................................................................................198


10


Allen & Buckeridge ...........................................................................................198

History...........................................................................................................198

Statistics........................................................................................................199

Businesses....................................................................................................199


Alliance Technology Ventures...........................................................................199

History...........................................................................................................199

Statistics........................................................................................................199

Businesses....................................................................................................199


Alliance Ventures..............................................................................................200

History...........................................................................................................200

Statistics........................................................................................................200

Businesses....................................................................................................200


Allied Capital Corporation .................................................................................200

History...........................................................................................................201

Statistics........................................................................................................201

Businesses....................................................................................................201


Alloy Ventures...................................................................................................201

History...........................................................................................................201

Statistics........................................................................................................202

Businesses....................................................................................................202


Alpha Capital Partners ......................................................................................202

History...........................................................................................................202

Statistics........................................................................................................202

Businesses....................................................................................................202


Alta Berkeley Associates ..................................................................................203

History...........................................................................................................203

Statistics........................................................................................................203

Businesses....................................................................................................203


Alta Communications ........................................................................................203

History...........................................................................................................203

Statistics........................................................................................................204

Businesses....................................................................................................204


Alta Partners.....................................................................................................204

History...........................................................................................................204

Statistics........................................................................................................204

Businesses....................................................................................................205


Altira Group ......................................................................................................205

History...........................................................................................................205

Statistics........................................................................................................205

Businesses....................................................................................................205



11

Altos Ventures ..................................................................................................206

History...........................................................................................................206

Statistics........................................................................................................206

Businesses....................................................................................................206


Alto Tech Ventures ...........................................................................................206

History...........................................................................................................206

Statistics........................................................................................................207

Businesses....................................................................................................207


Amadeus Capital Partners ................................................................................207

History...........................................................................................................207

Statistics........................................................................................................207

Businesses....................................................................................................207


Ambex Venture Group ......................................................................................208

History...........................................................................................................208

Statistics........................................................................................................208

Businesses....................................................................................................208


Ambient Advisors..............................................................................................208

History...........................................................................................................208

Statistics........................................................................................................209

Businesses....................................................................................................209


American Capital ..............................................................................................209

History...........................................................................................................209

Statistics........................................................................................................209

Businesses....................................................................................................210


American Industrial Partners.............................................................................210

History...........................................................................................................210

Statistics........................................................................................................210

Businesses....................................................................................................210


American River Ventures ..................................................................................211

History...........................................................................................................211

Statistics........................................................................................................211

Businesses....................................................................................................211


American Securities Capital Partners................................................................211

History...........................................................................................................211

Statistics........................................................................................................212

Businesses....................................................................................................212


Americ Financial ...............................................................................................212

History...........................................................................................................212

Statistics........................................................................................................213

Businesses....................................................................................................213


Amerimark Capital Group..................................................................................213


12

History...........................................................................................................213

Statistics........................................................................................................213

Businesses....................................................................................................213


Ampal American Israel Corporation ..................................................................214

History...........................................................................................................214

Statistics........................................................................................................214

Businesses....................................................................................................214


Ampersand Ventures ........................................................................................214

History...........................................................................................................214

Statistics........................................................................................................215

Businesses....................................................................................................215


Amphion Capital Management..........................................................................215

History...........................................................................................................215

Statistics........................................................................................................215

Businesses....................................................................................................216


Anderson Pacific Corporation ...........................................................................216

History...........................................................................................................216

Statistics........................................................................................................216

Businesses....................................................................................................216


Andlinger & Company.......................................................................................217

History...........................................................................................................217

Statistics........................................................................................................217

Businesses....................................................................................................217


Angel Strategies ...............................................................................................217

History...........................................................................................................217

Statistics........................................................................................................218

Businesses....................................................................................................218


Antares Capital Corporation..............................................................................218

History...........................................................................................................218

Statistics........................................................................................................218

Businesses....................................................................................................218


Antares Leveraged Capital Group.....................................................................219

History...........................................................................................................219

Statistics........................................................................................................219

Businesses....................................................................................................219


Anthem Capital Management............................................................................219

History...........................................................................................................220

Statistics........................................................................................................220

Businesses....................................................................................................220


Apax Partners...................................................................................................220

History...........................................................................................................220


13

Statistics........................................................................................................221

Businesses....................................................................................................221


Aperture Venture Partners ................................................................................221

History...........................................................................................................221

Statistics........................................................................................................222

Businesses....................................................................................................222


Apex Investment Partners.................................................................................222

History...........................................................................................................222

Statistics........................................................................................................223

Businesses....................................................................................................223


Apjohn Ventures ...............................................................................................223

History...........................................................................................................223

Statistics........................................................................................................223

Businesses....................................................................................................224


Appian Ventures ...............................................................................................224

History...........................................................................................................224

Statistics........................................................................................................224

Businesses....................................................................................................224


APV Technology Partners.................................................................................224

History...........................................................................................................225

Statistics........................................................................................................225

Businesses....................................................................................................225


Aquiline Holdings ..............................................................................................225

History...........................................................................................................225

Statistics........................................................................................................226

Businesses....................................................................................................226

Aquiline Capital Management ..................................................................226

Aquiline Capital Partners..........................................................................226


Arbor Partners ..................................................................................................226

History...........................................................................................................227

Statistics........................................................................................................227

Businesses....................................................................................................227


Arbor Private Investment Company ..................................................................227

History...........................................................................................................227

Statistics........................................................................................................228

Businesses....................................................................................................228


Arboretum Ventures..........................................................................................228

History...........................................................................................................228

Statistics........................................................................................................228

Businesses....................................................................................................228


Arcadia Management........................................................................................229


14

History...........................................................................................................229

Statistics........................................................................................................229

Businesses....................................................................................................229


Arcadia Management........................................................................................229

History...........................................................................................................229

Statistics........................................................................................................230

Businesses....................................................................................................230


Arcapita ............................................................................................................230

History...........................................................................................................230

Statistics........................................................................................................230

Businesses....................................................................................................231


Arch Development Partners ..............................................................................231

History...........................................................................................................231

Statistics........................................................................................................231

Businesses....................................................................................................231


Archelion Capital Partners ................................................................................232

History...........................................................................................................232

Statistics........................................................................................................232

Businesses....................................................................................................232


Arch Venture Partners ......................................................................................232

History...........................................................................................................232

Statistics........................................................................................................233

Businesses....................................................................................................233


Arcis Group.......................................................................................................233

History...........................................................................................................233

Statistics........................................................................................................233

Businesses....................................................................................................233


Arcturus Capital ................................................................................................234

History...........................................................................................................234

Statistics........................................................................................................234

Businesses....................................................................................................234


Ardent Services ................................................................................................234

History...........................................................................................................234

Statistics........................................................................................................235

Businesses....................................................................................................235


Ardesta Corporation..........................................................................................235

History...........................................................................................................235

Statistics........................................................................................................235

Businesses....................................................................................................236


Arete Corporation .............................................................................................236

History...........................................................................................................236


15

Statistics........................................................................................................236

Businesses....................................................................................................236


Argentum Capital Partners................................................................................237

History...........................................................................................................237

Statistics........................................................................................................237

Businesses....................................................................................................237


Argos Soditic.....................................................................................................237

History...........................................................................................................237

Statistics........................................................................................................238

Businesses....................................................................................................238


Argosy Partners ................................................................................................238

History...........................................................................................................238

Statistics........................................................................................................238

Businesses....................................................................................................238


Ark Capital Management ..................................................................................239

History...........................................................................................................239

Statistics........................................................................................................239

Businesses....................................................................................................239


Arkoma Venture Partners..................................................................................239

History...........................................................................................................239

Statistics........................................................................................................240

Businesses....................................................................................................240


Arlington Capital Partners .................................................................................240

History...........................................................................................................240

Statistics........................................................................................................241

Businesses....................................................................................................241


Arrow Path Venture Partners ............................................................................241

History...........................................................................................................241

Statistics........................................................................................................241

Businesses....................................................................................................241


Artemis Group...................................................................................................242

History...........................................................................................................242

Statistics........................................................................................................242

Businesses....................................................................................................242


Artiman Ventures ..............................................................................................242

History...........................................................................................................242

Statistics........................................................................................................243

Businesses....................................................................................................243


Ascend Technology Ventures ...........................................................................243

History...........................................................................................................243

Statistics........................................................................................................243


16

Businesses....................................................................................................244


Ascension Health Ventures...............................................................................244

History...........................................................................................................244

Statistics........................................................................................................244

Businesses....................................................................................................244


Ascent Venture Partners...................................................................................245

History...........................................................................................................245

Statistics........................................................................................................245

Businesses....................................................................................................245


Ashby Point Capital...........................................................................................245

History...........................................................................................................245

Statistics........................................................................................................246

Businesses....................................................................................................246


Asia Capital Management .................................................................................246

History...........................................................................................................246

Statistics........................................................................................................246

Businesses....................................................................................................247


Asia Pacific Ventures ........................................................................................247

History...........................................................................................................247

Statistics........................................................................................................247

Businesses....................................................................................................247


Aspen Ventures ................................................................................................247

History...........................................................................................................248

Statistics........................................................................................................248

Businesses....................................................................................................248


Asset Management Company...........................................................................248

History...........................................................................................................248

Statistics........................................................................................................249

Businesses....................................................................................................249


Astellas Venture Capital....................................................................................249

History...........................................................................................................249

Statistics........................................................................................................249

Businesses....................................................................................................249


Astrina Capital ..................................................................................................250

History...........................................................................................................250

Statistics........................................................................................................250

Businesses....................................................................................................250


ATA Ventures ...................................................................................................250

History...........................................................................................................250

Statistics........................................................................................................251

Businesses....................................................................................................251


17


Atel Ventures ....................................................................................................251

History...........................................................................................................251

Statistics........................................................................................................251

Businesses....................................................................................................252


Athena Technology Ventures............................................................................252

History...........................................................................................................252

Statistics........................................................................................................252

Businesses....................................................................................................252


Atlanta Equity....................................................................................................252

History...........................................................................................................253

Statistics........................................................................................................253

Businesses....................................................................................................253


Atlantic Bridge Ventures ...................................................................................253

History...........................................................................................................253

Statistics........................................................................................................254

Businesses....................................................................................................254


Atlas Venture ....................................................................................................254

History...........................................................................................................254

Statistics........................................................................................................254

Businesses....................................................................................................254


Auda Advisor Associates ..................................................................................255

History...........................................................................................................255

Statistics........................................................................................................255

Businesses....................................................................................................255


Audax Group.....................................................................................................256

History...........................................................................................................256

Statistics........................................................................................................256

Businesses....................................................................................................256


August Capital ..................................................................................................256

History...........................................................................................................257

Statistics........................................................................................................257

Businesses....................................................................................................257


Aureos Capital ..................................................................................................257

History...........................................................................................................257

Statistics........................................................................................................258

Businesses....................................................................................................258


Aurora Capital Group........................................................................................258

History...........................................................................................................258

Statistics........................................................................................................258

Businesses....................................................................................................258



18

Aurora Funds....................................................................................................259

History...........................................................................................................259

Statistics........................................................................................................259

Businesses....................................................................................................259


Austin Ventures ................................................................................................259

History...........................................................................................................259

Statistics........................................................................................................260

Businesses....................................................................................................260


Avansis Ventures..............................................................................................260

History...........................................................................................................260

Statistics........................................................................................................260

Businesses....................................................................................................261


Avitas Capital....................................................................................................261

History...........................................................................................................261

Statistics........................................................................................................261

Businesses....................................................................................................261


Aweida Venture Partners ..................................................................................261

History...........................................................................................................262

Statistics........................................................................................................262

Businesses....................................................................................................262


Axcel.................................................................................................................262

History...........................................................................................................262

Statistics........................................................................................................263

Businesses....................................................................................................263


Axxon Group.....................................................................................................263

History...........................................................................................................263

Statistics........................................................................................................263

Businesses....................................................................................................263


Azure Capital Partners......................................................................................264

History...........................................................................................................264

Statistics........................................................................................................264

Businesses....................................................................................................264


BA Venture Partners.........................................................................................264

History...........................................................................................................264

Statistics........................................................................................................265

Businesses....................................................................................................265


Bachow Associates...........................................................................................265

History...........................................................................................................265

Statistics........................................................................................................265

Businesses....................................................................................................266


Bain Capital ......................................................................................................266


19

History...........................................................................................................266

Statistics........................................................................................................266

Businesses....................................................................................................267


Baird Capital Partners.......................................................................................267

History...........................................................................................................267

Statistics........................................................................................................268

Businesses....................................................................................................268


Baird Venture Partners .....................................................................................268

History...........................................................................................................268

Statistics........................................................................................................268

Businesses....................................................................................................268


Baker Capital ....................................................................................................269

History...........................................................................................................269

Statistics........................................................................................................269

Businesses....................................................................................................269


Ballast Point Venture Partners ..........................................................................269

History...........................................................................................................269

Statistics........................................................................................................270

Businesses....................................................................................................270


Band of Angels .................................................................................................270

History...........................................................................................................270

Statistics........................................................................................................270

Businesses....................................................................................................271


Banyan Capital Partners ...................................................................................271

History...........................................................................................................271

Statistics........................................................................................................271

Businesses....................................................................................................271


Bank of America ...............................................................................................272

History...........................................................................................................272

Businesses....................................................................................................272

Banc Boston ............................................................................................272


Baring America Partners...................................................................................272

History...........................................................................................................272

Statistics........................................................................................................273

Businesses....................................................................................................273


Baring Communications Equity .........................................................................273

History...........................................................................................................273

Statistics........................................................................................................273

Businesses....................................................................................................274


Baring Latin America Partners ..........................................................................274

History...........................................................................................................274


20

Statistics........................................................................................................274

Businesses....................................................................................................274


Baring Private Equity Partners ..........................................................................274

History...........................................................................................................275

Statistics........................................................................................................275

Businesses....................................................................................................275


Baring Vostok Capital Partners .........................................................................275

History...........................................................................................................275

Statistics........................................................................................................276

Businesses....................................................................................................276


Barney’s Firm....................................................................................................276

History...........................................................................................................276

Statistics........................................................................................................276

Businesses....................................................................................................276


Base Camp Ventures........................................................................................277

History...........................................................................................................277

Statistics........................................................................................................277

Businesses....................................................................................................277


Basileus Capital Partners..................................................................................277

History...........................................................................................................277

Statistics........................................................................................................278

Businesses....................................................................................................278


BASF Venture Capital.......................................................................................278

History...........................................................................................................278

Statistics........................................................................................................279

Businesses....................................................................................................279


Battelle Ventures ..............................................................................................279

History...........................................................................................................279

Statistics........................................................................................................279

Businesses....................................................................................................279


Batterson Cros Zakin Venture Partners.............................................................280

History...........................................................................................................280

Statistics........................................................................................................280

Businesses....................................................................................................280


Battery Ventures ...............................................................................................280

History...........................................................................................................280

Statistics........................................................................................................281

Businesses....................................................................................................281


Bay BG Bavarian Venture Capital .....................................................................281

History...........................................................................................................281

Statistics........................................................................................................281


21

Businesses....................................................................................................282


Bay Partners.....................................................................................................282

History...........................................................................................................282

Statistics........................................................................................................282

Businesses....................................................................................................282


Bayview Capital Management...........................................................................283

History...........................................................................................................283

Statistics........................................................................................................283

Businesses....................................................................................................283


BB Kapitalbeteiligungsgesellschaft ...................................................................283

History...........................................................................................................283

Statistics........................................................................................................284

Businesses....................................................................................................284


BBT Partners ....................................................................................................284

History...........................................................................................................284

Statistics........................................................................................................284

Businesses....................................................................................................285


B Business Partners .........................................................................................285

History...........................................................................................................285

Statistics........................................................................................................286

Businesses....................................................................................................286


BCE Capital ......................................................................................................286

History...........................................................................................................286

Statistics........................................................................................................286

Businesses....................................................................................................286


BCM Technologies............................................................................................287

History...........................................................................................................287

Statistics........................................................................................................287

Businesses....................................................................................................287


BCP Capital Management.................................................................................287

History...........................................................................................................287

Statistics........................................................................................................288

Businesses....................................................................................................288


BC Partners ......................................................................................................288

History...........................................................................................................288

Statistics........................................................................................................288

Businesses....................................................................................................289


BD Ventures .....................................................................................................289

History...........................................................................................................289

Statistics........................................................................................................289

Businesses....................................................................................................289


22


BDC Venture Capital.........................................................................................289

History...........................................................................................................289

Statistics........................................................................................................290

Businesses....................................................................................................290


Beacon Group...................................................................................................290

History...........................................................................................................290

Statistics........................................................................................................291

Businesses....................................................................................................291


Bedrock Capital Partners ..................................................................................291

History...........................................................................................................291

Statistics........................................................................................................291

Businesses....................................................................................................292


Bedrock Private Equity......................................................................................292

History...........................................................................................................292

Statistics........................................................................................................292

Businesses....................................................................................................292


Beecken Petty OKeefe & Company ..................................................................292

History...........................................................................................................293

Statistics........................................................................................................293

Businesses....................................................................................................293


Behrman Capital ...............................................................................................293

History...........................................................................................................293

Statistics........................................................................................................294

Businesses....................................................................................................294


Belvedere Capital ............................................................................................294

History...........................................................................................................294

Statistics........................................................................................................295

Businesses....................................................................................................295


Ben Franklin Technology Partners ....................................................................295

History...........................................................................................................295

Statistics........................................................................................................296

Businesses....................................................................................................296


Benchmark Capital............................................................................................296

History...........................................................................................................296

Statistics........................................................................................................296

Businesses....................................................................................................297


Benelux Capital.................................................................................................298

History...........................................................................................................298

Statistics........................................................................................................298

Businesses....................................................................................................298



23

Beringea Limited...............................................................................................298

History...........................................................................................................298

Statistics........................................................................................................299

Businesses....................................................................................................299


Berkeley International Capital ...........................................................................299

History...........................................................................................................299

Statistics........................................................................................................299

Businesses....................................................................................................300


Berkshire Partners ............................................................................................300

History...........................................................................................................300

Statistics........................................................................................................300

Businesses....................................................................................................300


Bertelsmann Ventures ......................................................................................300

History...........................................................................................................301

Statistics........................................................................................................301

Businesses....................................................................................................301


Berthel Fisher & Company................................................................................301

History...........................................................................................................301

Statistics........................................................................................................302

Businesses....................................................................................................302


Berwind Financial Group...................................................................................302

History...........................................................................................................302

Statistics........................................................................................................302

Businesses....................................................................................................302


Bessemer Trust ................................................................................................303

History...........................................................................................................303

Businesses....................................................................................................303

Bessemer Venture Partners.....................................................................303


BEV Capital ......................................................................................................304

History...........................................................................................................304

Statistics........................................................................................................304

Businesses....................................................................................................304


BG Affiliates......................................................................................................304

History...........................................................................................................305

Statistics........................................................................................................305

Businesses....................................................................................................305


Bio Advance Ventures ......................................................................................305

History...........................................................................................................305

Statistics........................................................................................................306

Businesses....................................................................................................306


Bio Asia Investments ........................................................................................306


24

History...........................................................................................................306

Statistics........................................................................................................306

Businesses....................................................................................................306


Bio Veda Capital ...............................................................................................307

History...........................................................................................................307

Statistics........................................................................................................307

Businesses....................................................................................................307


Bio Ventures Investors......................................................................................307

History...........................................................................................................307

Statistics........................................................................................................308

Businesses....................................................................................................308


Bison Capital.....................................................................................................308

History...........................................................................................................308

Statistics........................................................................................................308

Businesses....................................................................................................309


Blackford Capital...............................................................................................309

History...........................................................................................................309

Statistics........................................................................................................309

Businesses....................................................................................................309


Blackrock ..........................................................................................................309

History...........................................................................................................310

Statistics........................................................................................................310

Businesses....................................................................................................310


Blacksmith Capital ............................................................................................310

History...........................................................................................................310

Statistics........................................................................................................311

Businesses....................................................................................................311


Blackwater Capital Group .................................................................................311

History...........................................................................................................311

Statistics........................................................................................................311

Businesses....................................................................................................311


Blue Capital Management.................................................................................312

History...........................................................................................................312

Statistics........................................................................................................312

Businesses....................................................................................................312


Blue Chip Venture Company.............................................................................312

History...........................................................................................................312

Statistics........................................................................................................313

Businesses....................................................................................................313


Blue Point Capital Partners ...............................................................................313

History...........................................................................................................313


25

Statistics........................................................................................................313

Businesses....................................................................................................314


Blue Rock Capital .............................................................................................314

History...........................................................................................................314

Statistics........................................................................................................314

Businesses....................................................................................................314


Blue Water Capital ............................................................................................315

History...........................................................................................................315

Statistics........................................................................................................315

Businesses....................................................................................................315


Bluegrass Capital..............................................................................................315

History...........................................................................................................315

Statistics........................................................................................................316

Businesses....................................................................................................316


Blueprint Ventures ............................................................................................316

History...........................................................................................................316

Statistics........................................................................................................316

Businesses....................................................................................................316


Blue Run Ventures............................................................................................317

History...........................................................................................................317

Statistics........................................................................................................317

Businesses....................................................................................................317


Blue Star Ventures............................................................................................317

History...........................................................................................................317

Statistics........................................................................................................318

Businesses....................................................................................................318


Blue Stem Capital Partners...............................................................................318

History...........................................................................................................318

Statistics........................................................................................................318

Businesses....................................................................................................319


Blue Stream Ventures.......................................................................................319

History...........................................................................................................319

Statistics........................................................................................................319

Businesses....................................................................................................319


Blum Capital Partners .......................................................................................320

History...........................................................................................................320

Statistics........................................................................................................320

Businesses....................................................................................................320


Blumberg Capital ..............................................................................................320

History...........................................................................................................320

Statistics........................................................................................................321


26

Businesses....................................................................................................321


BNY Capital Partners........................................................................................321

History...........................................................................................................321

Statistics........................................................................................................321

Businesses....................................................................................................322


Boldcap Ventures .............................................................................................322

History...........................................................................................................322

Statistics........................................................................................................322

Businesses....................................................................................................322


Borealis Ventures .............................................................................................322

History...........................................................................................................323

Statistics........................................................................................................323

Businesses....................................................................................................323


Boston Associates ............................................................................................323

History...........................................................................................................323

Statistics........................................................................................................324

Businesses....................................................................................................324


Boston Capital Ventures ...................................................................................324

History...........................................................................................................324

Statistics........................................................................................................324

Businesses....................................................................................................324


Boston Financial & Equity Corporation..............................................................325

History...........................................................................................................325

Statistics........................................................................................................325

Businesses....................................................................................................325


Boston Millennia Partners .................................................................................325

History...........................................................................................................325

Statistics........................................................................................................326

Businesses....................................................................................................326


Boston University Community Technology Fund...............................................326

History...........................................................................................................326

Statistics........................................................................................................327

Businesses....................................................................................................327


Boston Ventures Management..........................................................................327

History...........................................................................................................327

Statistics........................................................................................................327

Businesses....................................................................................................327


Boulder Ventures ..............................................................................................328

History...........................................................................................................328

Statistics........................................................................................................328

Businesses....................................................................................................328


27


Bow River Capital Partners ...............................................................................328

History...........................................................................................................328

Statistics........................................................................................................329

Businesses....................................................................................................329


Bowman Capital................................................................................................329

History...........................................................................................................329

Statistics........................................................................................................329

Businesses....................................................................................................330


Bradford Equities Management.........................................................................330

History...........................................................................................................330

Statistics........................................................................................................330

Businesses....................................................................................................330


Brait South Africa..............................................................................................331

History...........................................................................................................331

Statistics........................................................................................................331

Businesses....................................................................................................331


Brandon Capital Group .....................................................................................331

History...........................................................................................................331

Statistics........................................................................................................332

Businesses....................................................................................................332


Branford Castle.................................................................................................332

History...........................................................................................................332

Statistics........................................................................................................332

Businesses....................................................................................................333


Brantley Partners ..............................................................................................333

History...........................................................................................................333

Statistics........................................................................................................333

Businesses....................................................................................................333


Brass Ring Capital ............................................................................................333

History...........................................................................................................334

Statistics........................................................................................................334

Businesses....................................................................................................334


Brazos Private Equity Partners .........................................................................334

History...........................................................................................................334

Statistics........................................................................................................335

Businesses....................................................................................................335


Brentwood Associates ......................................................................................335

History...........................................................................................................335

Statistics........................................................................................................335

Businesses....................................................................................................335



28

Brentwood Private Equity..................................................................................336

History...........................................................................................................336

Statistics........................................................................................................336

Businesses....................................................................................................336


Brentwood Venture Capital ...............................................................................336

History...........................................................................................................337

Statistics........................................................................................................337

Businesses....................................................................................................337


Brera Capital Partners ......................................................................................337

History...........................................................................................................337

Statistics........................................................................................................338

Businesses....................................................................................................338


Bridge Ventures ................................................................................................338

History...........................................................................................................338

Statistics........................................................................................................338

Businesses....................................................................................................338


Bridgepoint Capital ...........................................................................................339

History...........................................................................................................339

Statistics........................................................................................................339

Businesses....................................................................................................339


Broadband Venture Partners ............................................................................339

History...........................................................................................................339

Statistics........................................................................................................340

Businesses....................................................................................................340


Broadmark Capital Corporation.........................................................................340

History...........................................................................................................340

Statistics........................................................................................................340

Businesses....................................................................................................341


Broadview Capital Partners...............................................................................341

History...........................................................................................................341

Statistics........................................................................................................341

Businesses....................................................................................................341


Brockway Moran & Partners .............................................................................342

History...........................................................................................................342

Statistics........................................................................................................342

Businesses....................................................................................................342


Broe Companies ...............................................................................................342

History...........................................................................................................342

Statistics........................................................................................................343

Businesses....................................................................................................343


Brooks, Houghton, & Company.........................................................................343


29

History...........................................................................................................343

Statistics........................................................................................................343

Businesses....................................................................................................344


Brookwood Partners .........................................................................................344

History...........................................................................................................344

Statistics........................................................................................................344

Businesses....................................................................................................344


Brown Brothers Harriman..................................................................................344

History...........................................................................................................345

Statistics........................................................................................................345

Businesses....................................................................................................345


Bruckmann, Rosser, Sherrill, & Company .........................................................345

History...........................................................................................................345

Statistics........................................................................................................346

Businesses....................................................................................................346


Brumi Capital Corporation.................................................................................346

History...........................................................................................................346

Statistics........................................................................................................346

Businesses....................................................................................................347


BTG Ventures...................................................................................................347

History...........................................................................................................347

Statistics........................................................................................................347

Businesses....................................................................................................347


Buena Venture Associates................................................................................347

History...........................................................................................................347

Statistics........................................................................................................348

Businesses....................................................................................................348


Buerk Dale Victor..............................................................................................348

History...........................................................................................................348

Statistics........................................................................................................349

Businesses....................................................................................................349


Bunker Hill Capital ............................................................................................349

History...........................................................................................................349

Statistics........................................................................................................349

Businesses....................................................................................................349


Bure Equity AB .................................................................................................350

History...........................................................................................................350

Statistics........................................................................................................350

Businesses....................................................................................................350


Burrill & Company.............................................................................................350

History...........................................................................................................350


30

Statistics........................................................................................................351

Businesses....................................................................................................351


Business Partners.............................................................................................351

History...........................................................................................................351

Statistics........................................................................................................351

Businesses....................................................................................................352


Butler Capital Partners France..........................................................................352

History...........................................................................................................352

Statistics........................................................................................................352

Businesses....................................................................................................352


BV Capital.........................................................................................................352

History...........................................................................................................353

Statistics........................................................................................................353

Businesses....................................................................................................353


BV Cornerstone ................................................................................................353

History...........................................................................................................353

Statistics........................................................................................................354

Businesses....................................................................................................354


BV Group Private Equity ...................................................................................354

History...........................................................................................................354

Statistics........................................................................................................354

Businesses....................................................................................................354


C&C Vencap Corporation..................................................................................355

History...........................................................................................................355

Statistics........................................................................................................355

Businesses....................................................................................................355


C&T Access Ventures.......................................................................................355

History...........................................................................................................355

Statistics........................................................................................................356

Businesses....................................................................................................356


Cahill, Warnock, & Company ............................................................................356

History...........................................................................................................356

Statistics........................................................................................................356

Businesses....................................................................................................357


CAI Managers & Company ...............................................................................357

History...........................................................................................................357

Statistics........................................................................................................357

Businesses....................................................................................................357


Caisse de Depot et Placement du Quebec .......................................................357

History...........................................................................................................358

Statistics........................................................................................................358


31

Businesses....................................................................................................358


Calera Capital ...................................................................................................358

History...........................................................................................................358

Statistics........................................................................................................359

Businesses....................................................................................................359


Calgary Enterprises ..........................................................................................359

History...........................................................................................................359

Statistics........................................................................................................359

Businesses....................................................................................................359


California Technology Ventures ........................................................................360

History...........................................................................................................360

Statistics........................................................................................................360

Businesses....................................................................................................360


Caltius...............................................................................................................360

History...........................................................................................................360

Statistics........................................................................................................361

Businesses....................................................................................................361


Calvert Funds ...................................................................................................361

History...........................................................................................................361

Statistics........................................................................................................361

Businesses....................................................................................................362


Calvert Social Venture Partners........................................................................362

History...........................................................................................................362

Statistics........................................................................................................362

Businesses....................................................................................................362


CAM Private Equity...........................................................................................362

History...........................................................................................................363

Statistics........................................................................................................363

Businesses....................................................................................................363


Cambria Group .................................................................................................363

History...........................................................................................................363

Statistics........................................................................................................364

Businesses....................................................................................................364


Cambrian Ventures...........................................................................................364

History...........................................................................................................364

Statistics........................................................................................................364

Businesses....................................................................................................364


Cambridge Light Partners .................................................................................365

History...........................................................................................................365

Statistics........................................................................................................365

Businesses....................................................................................................365


32


Cambridge Research Bioventures ....................................................................365

History...........................................................................................................365

Statistics........................................................................................................366

Businesses....................................................................................................366


Camelot Ventures .............................................................................................366

History...........................................................................................................366

Statistics........................................................................................................367

Businesses....................................................................................................367


Camp Ventures.................................................................................................367

History...........................................................................................................367

Statistics........................................................................................................367

Businesses....................................................................................................367


Canaan Partners...............................................................................................368

History...........................................................................................................368

Statistics........................................................................................................368

Businesses....................................................................................................368


Capital Z Partners.............................................................................................369

History...........................................................................................................369

Statistics........................................................................................................369

Businesses....................................................................................................370


Cerberus Group ................................................................................................370

Statistics........................................................................................................370

Businesses....................................................................................................370


Charles River Ventures.....................................................................................371

History...........................................................................................................371

Statistics........................................................................................................371

Businesses....................................................................................................371


CIB Partners .....................................................................................................372

History...........................................................................................................372

Statistics........................................................................................................372

Businesses....................................................................................................372


Citigroup ...........................................................................................................373

History...........................................................................................................373

Businesses....................................................................................................373

Citigroup/Salomon ...................................................................................373


Clayton, Dubilier, & Rice ...................................................................................374

History...........................................................................................................374

Statistics........................................................................................................374

Businesses....................................................................................................374


CMS Companies...............................................................................................375


33

History...........................................................................................................375

Statistics........................................................................................................375

Businesses....................................................................................................376


Com Ventures...................................................................................................376

History...........................................................................................................376

Statistics........................................................................................................376

Businesses....................................................................................................376


Credit Suisse Group..........................................................................................377

History...........................................................................................................377

Businesses....................................................................................................377

Credit Suisse Group Asset Management .................................................377

First Boston..............................................................................................377

Sprout Group of DLJ ................................................................................378


CVC Capital Partners........................................................................................378

History...........................................................................................................378

Statistics........................................................................................................378

Businesses....................................................................................................378


Doll Capital Management .................................................................................379

History...........................................................................................................379

Statistics........................................................................................................379

Businesses....................................................................................................379


Draper Fisher Jurvetson ...................................................................................380

History...........................................................................................................380

Statistics........................................................................................................380

Businesses....................................................................................................380


Edison Venture Fund ........................................................................................381

History...........................................................................................................382

Statistics........................................................................................................382

Businesses....................................................................................................382


Fenway Partners...............................................................................................383

History...........................................................................................................383

Statistics........................................................................................................383

Businesses....................................................................................................383


Flag Funds .......................................................................................................384

History...........................................................................................................384

Statistics........................................................................................................384

Businesses....................................................................................................385


Forstmann, Little, & Company...........................................................................385

History...........................................................................................................385

Statistics........................................................................................................386

Businesses....................................................................................................386



34

Fox Paine .........................................................................................................387

History...........................................................................................................387

Statistics........................................................................................................387

Businesses....................................................................................................387


Francisco Partners............................................................................................388

History...........................................................................................................388

Statistics........................................................................................................388

Businesses....................................................................................................388


Freidman, Fleischer, & Lowe ............................................................................388

History...........................................................................................................389

Statistics........................................................................................................389

Businesses....................................................................................................389


Gabriel Venture Partners ..................................................................................389

History...........................................................................................................389

Statistics........................................................................................................390

Businesses....................................................................................................390


General Atlantic Partners .................................................................................390

History...........................................................................................................391

Statistics........................................................................................................391

Businesses....................................................................................................391


Goldman Sachs Group .....................................................................................391

History...........................................................................................................392

Businesses....................................................................................................392

Goldman Sachs Asset Management ........................................................392


Greylock Partners .............................................................................................392

History...........................................................................................................392

Statistics........................................................................................................393

Businesses....................................................................................................393


Gryphon Partners .............................................................................................393

History...........................................................................................................393

Statistics........................................................................................................394

Businesses....................................................................................................394


GTCR Golder Rauner ......................................................................................394

History...........................................................................................................394

Statistics........................................................................................................395

Businesses....................................................................................................395


Hamilton Lane Advisors ....................................................................................396

History...........................................................................................................396

Statistics........................................................................................................396

Businesses....................................................................................................396


Harbour Vest Partners ......................................................................................397


35

History...........................................................................................................397

Statistics........................................................................................................397

Businesses....................................................................................................398


Hellman & Friedman .........................................................................................398

History...........................................................................................................398

Statistics........................................................................................................399

Businesses....................................................................................................399


Hicks, Muse, Tate, & Furst ...............................................................................400

History...........................................................................................................400

Statistics........................................................................................................401

Businesses....................................................................................................401


High River.........................................................................................................402

History...........................................................................................................402

Statistics........................................................................................................402

Businesses....................................................................................................402


Horsely Bridge ..................................................................................................403

History...........................................................................................................403

Statistics........................................................................................................403

Businesses....................................................................................................403


Hummer Winblad Venture Partners .................................................................404

History...........................................................................................................404

Statistics........................................................................................................404

Businesses....................................................................................................405


Institutional Venture Partners............................................................................405

History...........................................................................................................405

Statistics........................................................................................................406

Businesses....................................................................................................406


Infinity Capital ...................................................................................................406

History...........................................................................................................406

Statistics........................................................................................................407

Businesses....................................................................................................407


Investcorp .........................................................................................................407

History...........................................................................................................407

Statistics........................................................................................................408

Businesses....................................................................................................408


Internet.Com.....................................................................................................408

History...........................................................................................................408

Statistics........................................................................................................409

Businesses....................................................................................................409


JH Whitney & Company ...................................................................................409

History...........................................................................................................409


36

Statistics........................................................................................................410

Businesses....................................................................................................410


JMI Equity Fund................................................................................................411

History...........................................................................................................411

Statistics........................................................................................................411

Businesses....................................................................................................411


JP Morgan Chase .............................................................................................412

History...........................................................................................................412

Businesses....................................................................................................412

Chase Manhattan.....................................................................................412


K2 Capital Partners...........................................................................................414

History...........................................................................................................414

Statistics........................................................................................................414

Businesses....................................................................................................414


Kleiner, Perkins, Caufield, & Byers ..................................................................415

History...........................................................................................................415

Statistics........................................................................................................415

Businesses....................................................................................................416


Kohlberg, Kravis, & Roberts..............................................................................416

History...........................................................................................................417

Statistics........................................................................................................417

Businesses....................................................................................................417


Lehman Brothers ..............................................................................................418

History...........................................................................................................418

Businesses....................................................................................................418


Lightspeed Venture Partners ...........................................................................420

History...........................................................................................................420

Statistics........................................................................................................420

Businesses....................................................................................................421


Lovell Minick Partners.......................................................................................421

History...........................................................................................................421

Statistics........................................................................................................422

Businesses....................................................................................................422


MacAndrews & Forbes Holdings .......................................................................423

History...........................................................................................................423

Statistics........................................................................................................423

Businesses....................................................................................................423


Madison Dearborn Partners ..............................................................................424

History...........................................................................................................424

Statistics........................................................................................................424

Businesses....................................................................................................424


37


Manulife Financial .............................................................................................425

History...........................................................................................................425

Businesses....................................................................................................425

John Hancock Financial Services ............................................................425


Mayfield Fund ...................................................................................................426

History...........................................................................................................427

Statistics........................................................................................................427

Businesses....................................................................................................427


Menlo Ventures.................................................................................................428

History...........................................................................................................428

Statistics........................................................................................................428

Businesses....................................................................................................429


Merrill Lynch & Company..................................................................................429

History...........................................................................................................429

Businesses....................................................................................................429


Mesirow Financial .............................................................................................431

History...........................................................................................................431

Businesses....................................................................................................431

Mesirow Private Equity Investments.........................................................431


Mobius Venture Capital ....................................................................................433

History...........................................................................................................433

Statistics........................................................................................................433

Businesses....................................................................................................433


Mohr Davidow Ventures....................................................................................434

History...........................................................................................................434

Statistics........................................................................................................434

Businesses....................................................................................................434


Morgan Stanley.................................................................................................434

History...........................................................................................................434

Businesses....................................................................................................435


Mosaic Venture Partners ..................................................................................442

History...........................................................................................................442

Businesses....................................................................................................442


Nationwide........................................................................................................443

History...........................................................................................................443

Businesses....................................................................................................443


New Enterprise Associates ...............................................................................444

History...........................................................................................................444

Statistics........................................................................................................445

Businesses....................................................................................................445


38


Nomura Holdings ..............................................................................................445

History...........................................................................................................445

Businesses....................................................................................................445

Fortress Investment Management............................................................446


Noro-Moseley Partners ....................................................................................446

History...........................................................................................................446

Statistics........................................................................................................446

Businesses....................................................................................................447


Oak Investment Partners ..................................................................................447

History...........................................................................................................447

Statistics........................................................................................................447

Businesses....................................................................................................448


Oak Tree Capital Management .........................................................................448

History...........................................................................................................448

Statistics........................................................................................................449

Businesses....................................................................................................449


Oracle Investment Management .......................................................................449

History...........................................................................................................449

Statistics........................................................................................................449

Businesses....................................................................................................450


Orca Bay Partners ............................................................................................450

History...........................................................................................................450

Statistics........................................................................................................450

Businesses....................................................................................................450


Patricof & Company Ventures ..........................................................................451

History...........................................................................................................451

Statistics........................................................................................................451

Businesses....................................................................................................451


Pequot Ventures ...............................................................................................452

History...........................................................................................................452

Statistics........................................................................................................453

Businesses....................................................................................................453


Plantagenet Capital...........................................................................................453

History...........................................................................................................453

Statistics........................................................................................................454

Businesses....................................................................................................454


Polaris Venture Partners...................................................................................454

History...........................................................................................................454

Statistics........................................................................................................455

Businesses....................................................................................................455



39

Quadrangle.......................................................................................................455

History...........................................................................................................455

Statistics........................................................................................................455

Businesses....................................................................................................456


Redpoint Ventures ...........................................................................................456

History...........................................................................................................456

Statistics........................................................................................................457

Businesses....................................................................................................457


Ripplewood Holdings ........................................................................................457

History...........................................................................................................457

Statistics........................................................................................................458

Businesses....................................................................................................458


Royal Bank of Canada ......................................................................................458

History...........................................................................................................458

Businesses....................................................................................................459

Tucker Anthony........................................................................................459


RW Baird & Company.......................................................................................459

History...........................................................................................................459

Businesses....................................................................................................459


Ryan ALM.........................................................................................................461

History...........................................................................................................461

Businesses....................................................................................................461


Salomon River Capital ......................................................................................461

History...........................................................................................................461

Statistics........................................................................................................462

Businesses....................................................................................................462


Sequoia Capital ...............................................................................................462

History...........................................................................................................462

Statistics........................................................................................................463

Businesses....................................................................................................463


Sevin Rosen Funds...........................................................................................463

History...........................................................................................................463

Statistics........................................................................................................464

Businesses....................................................................................................464


Shansby Group.................................................................................................464

History...........................................................................................................464

Statistics........................................................................................................465

Businesses....................................................................................................465


Silver Lake Partners..........................................................................................465

History...........................................................................................................465

Statistics........................................................................................................465


40

Businesses....................................................................................................465


Soft Bank Technology Ventures........................................................................466

History...........................................................................................................466

Businesses....................................................................................................466


Sovereign Financial Services ...........................................................................467

History...........................................................................................................468

Statistics........................................................................................................468

Businesses....................................................................................................468


Summit Partners ...............................................................................................469

History...........................................................................................................469

Statistics........................................................................................................469

Businesses....................................................................................................469


Sutter Hill Ventures...........................................................................................470

History...........................................................................................................470

Statistics........................................................................................................470

Businesses....................................................................................................470


TA Associates...................................................................................................471

History...........................................................................................................471

Statistics........................................................................................................471

Businesses....................................................................................................471


TCR ..................................................................................................................472

History...........................................................................................................472

Statistics........................................................................................................472

Businesses....................................................................................................473


Texas Pacific Group..........................................................................................473

History...........................................................................................................473

Statistics........................................................................................................473

Businesses....................................................................................................474


The Blackstone Group ......................................................................................474

History...........................................................................................................475

Statistics........................................................................................................475

Businesses....................................................................................................476


The Carlyle Group ............................................................................................482

History...........................................................................................................482

Statistics........................................................................................................482

Businesses....................................................................................................483


TH Lee Putnam.................................................................................................483

History...........................................................................................................483

Statistics........................................................................................................483

Businesses....................................................................................................484



41

Thomas Weisel Capital Partners.......................................................................485

History...........................................................................................................485

Businesses....................................................................................................485


Toronto Dominion Capital .................................................................................486

History...........................................................................................................486

Businesses....................................................................................................486

Toronto Dominion Capital USA ................................................................486


Tracinda Corporation ........................................................................................487

History...........................................................................................................487

Statistics........................................................................................................487

Businesses....................................................................................................487


Trident Capital ..................................................................................................487

History...........................................................................................................487

Statistics........................................................................................................488

Businesses....................................................................................................488


2i Capita Groupl................................................................................................488

History...........................................................................................................488

Statistics........................................................................................................489

Businesses....................................................................................................489


US Bancorp ......................................................................................................489

History...........................................................................................................489

Businesses....................................................................................................489


US Venture Partners ........................................................................................490

History...........................................................................................................490

Statistics........................................................................................................490

Businesses....................................................................................................490


Vestar Capital Partners ....................................................................................491

History...........................................................................................................491

Statistics........................................................................................................491

Businesses....................................................................................................491


Vulcan Venture Partners...................................................................................492

History...........................................................................................................492

Statistics........................................................................................................492

Businesses....................................................................................................492


Walden International .........................................................................................492

History...........................................................................................................493

Statistics........................................................................................................493

Businesses....................................................................................................493


Warburg Pincus ................................................................................................493

History...........................................................................................................494

Statistics........................................................................................................494


42

Businesses....................................................................................................494


Waud Capital Partners......................................................................................495

History...........................................................................................................495

Statistics........................................................................................................495

Businesses....................................................................................................495


Weiss, Peck, & Greer........................................................................................495

History...........................................................................................................496

Statistics........................................................................................................496

Businesses....................................................................................................496


Wells Fargo ......................................................................................................496

History...........................................................................................................496

Businesses....................................................................................................497

Norwest Venture Partners........................................................................497


Welsh, Carson, Anderson, & Stowe ..................................................................497

History...........................................................................................................498

Statistics........................................................................................................498

Businesses....................................................................................................498


Weston Presidio................................................................................................498

History...........................................................................................................499

Statistics........................................................................................................499

Businesses....................................................................................................499


William Blair ......................................................................................................499

History...........................................................................................................499

Statistics........................................................................................................499

Businesses....................................................................................................500


Williams, Simons, & Sons .................................................................................500

History...........................................................................................................500

Statistics........................................................................................................500

Businesses....................................................................................................500


Worldview Technology Partners .......................................................................501

History...........................................................................................................501

Statistics........................................................................................................501

Businesses....................................................................................................501


WR Hambrecht & Company..............................................................................502

History...........................................................................................................502

Businesses....................................................................................................502


Profiles of Venture Capital & Private Equity Firms Service Providers 503

Trade Groups....................................................................................................504

National Venture Capital Association.............................................................504

History .....................................................................................................504


43

Statistics ..................................................................................................504

Topics ......................................................................................................504

Organization & Ownership .......................................................................505

Atlanta Venture Forum ..................................................................................505

History .....................................................................................................505

Statistics ..................................................................................................505

Businesses ..............................................................................................505


Dallas & Fort Worth Private Equity Forum .....................................................506

History .....................................................................................................506

Statistics ..................................................................................................506

Businesses ..............................................................................................506


Greater-Philadelphia Venture Group .............................................................506

History .....................................................................................................506

Statistics ..................................................................................................507

Businesses ..............................................................................................507


Los Angeles Venture Association ..................................................................507

History .....................................................................................................507

Statistics ..................................................................................................507

Businesses ..............................................................................................508


Mid-Atlantic Venture Association ...................................................................508

History .....................................................................................................508

Statistics ..................................................................................................508

Businesses ..............................................................................................508


Minnesota Venture Capital Association .........................................................509

History .....................................................................................................509

Statistics ..................................................................................................509

Businesses ..............................................................................................509


New England Venture Capital Association.....................................................509

History .....................................................................................................509

Statistics ..................................................................................................510

Businesses ..............................................................................................510


New York Venture Capital Forum ..................................................................510

History .....................................................................................................510

Statistics ..................................................................................................510

Businesses ..............................................................................................511


Western Association of Venture Capitalists ...................................................511

History .....................................................................................................511

Statistics ..................................................................................................511

Businesses ..............................................................................................511



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