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Asia

Further information: Indian Venture Capital Association and China Venture Capital Association

India is fast catching up with the West in the field of venture capital and a number of venture capital funds have a presence in the country (IVCA). In 2006, the total amount of private equity and venture capital in India reached US$7.5 billion across 299 deals.[35] China is also starting to develop a venture capital industry (CVCA). Vietnam is experiencing its first foreign venture capitals, including IDG Venture Vietnam ($100 million) and DFJ Vinacapital ($35 million) [36]

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About Venture Capital (VC)
Starting and growing a business always require capital. There are a number of alternative methods to fund growth. These include the owner or proprietor’s own capital, arranging debt finance, or seeking an equity partner, as is the case with private equity and venture capital. Private equity is a broad term that refers to any type of non-public ownership equity securities that are not listed on a public exchange. Private equity encompasses both early stage (venture capital) and later stage (buy-out, expansion) investing. In the broadest sense, it can also include mezzanine, fund of funds and secondary investing. Venture capital is a means of equity financing for rapidly-growing private companies. Finance may be required for the start-up, development/expansion or purchase of a company. Venture Capital firms invest funds on a professional basis, often focusing on a limited sector of specialization (eg. IT, infrastructure, health/life sciences, clean technology, etc.). The goal of venture capital is to build companies so that the shares become liquid (through IPO or acquisition) and provide a rate of return to the investors (in the form of cash or shares) that is consistent with the level of risk taken. With venture capital financing, the venture capitalist acquires an agreed proportion of the equity of the company in return for the funding. Equity finance offers the significant advantage of having no interest charges. It is "patient" capital that seeks a return through long-term capital gain rather than immediate and regular interest payments, as in the case of debt financing. Given the nature of equity financing, venture capital investors are therefore exposed to the risk of the company failing. As a result the venture capitalist must look to invest in companies which have the ability to grow very successfully and provide higher than average returns to compensate for the risk. When venture capitalists invest in a business they typically require a seat on the

typically between three to five years after the investment. such as in recruiting key personnel. Venture capitalists are rewarded by business success and the capital gain. Venture capital has a number of advantages over other forms of finance. sharing both the risks and rewards. such as • • • • • It injects long term equity finance which provides a solid capital base for future growth. introductions to strategic partners. professional venture capitalists act as mentors and aim to provide support and advice on a range of management. . financial institutions. The venture capitalist is a business partner. investment institutions expect to receive very high returns on their investment. total amount of private equity. Venture Capital in India In 2006. Although the venture capitalist may receive some return through dividends. They tend to take a minority share in the company and usually do not take day-to-day control. endowments.company's board of directors. These institutions typically invest in a venture capital fund for a period of up to ten years. The venture capitalist may be capable of providing additional rounds of funding should it be required to finance growth. How does the VC industry work Venture capital firms typically source the majority of their funding from large investment institutions such as fund of funds. Please download the following presentation for more information on the Indian venture capital industry. please see reports under the section ‘Resource Centre’.5 billion across 299 deals. their primary return on investment comes from capital gains when they eventually sell their shares in the company. sales and technical issues to assist the company to develop its full potential. Therefore venture capitalists invest in either companies with high growth potential where they are able to exit through either an IPO or a merger/acquisition. providing contacts in international markets. The venture capitalist is able to provide practical advice and assistance to the company based on past experience with other companies which were in similar situations. including venture capital reached US$7. and if needed coinvestments with other venture capital firms when additional rounds of financing are required. IVCA Presentation For more information on the origins and evolution of the Indian venture capital industry. To compensate for the long term commitment and lack of both security and liquidity. Rather. The venture capitalist also has a network of contacts in many areas that can add value to the company. pension funds and banks.

irrespective of the success or failure of a business . rather than by current size. the venture capitalist's return is dependent on the growth and profitability of the business. This return is generally earned when the venture capitalist "exits" by selling its shareholding when the business is sold to another owner. Investments in more mature businesses. are often sold sooner than investments in early-stage or technology companies where it takes time to develop the business model. There are now over 100 active venture capital firms in the UK. venture capital could help do this. This does not necessarily mean small or new businesses. where the business performance can be improved quicker and easier. it is more about the investment's aspirations and potential for growth. . As a shareholder. As a rule of thumb. which provide several billion pounds each year to unquoted companies mostly located in the UK. buy-out a business in which he works. committed share capital. What kind of businesses are attractive to venture capitalists? Venture capitalist prefer to invest in "entrepreneurial businesses". to help unquoted companies grow and succeed. If an entrepreneur is looking to start-up. Venture capital in the UK originated in the late 18th century. expand. This informal method of financing became an industry in the late 1970s and early 1980s when a number of venture capital firms were founded. For how long do venture capitalists invest in a business? Venture capital firms usually look to retain their investment for between three and seven years or more. Such businesses are aiming to grow rapidly to a significant size. Venture capital is invested in exchange for an equity stake in the business. when entrepreneurs found wealthy individuals to back their projects on an ad hoc basis. buy-into a business. The term of the investment is often linked to the growth profile of the business. Rather. Venture capital investors are only interested in companies with high growth prospects. it is unlikely to be of interest to a venture capital firm.Venture capitalists are therefore in the business of promoting growth in the companies they invest in and managing the associated risk to protect and enhance their investors' capital. Obtaining venture capital is substantially different from raising debt or a loan from a lender. What is venture capital? Venture capital provides long-term. which are managed by experienced and ambitious teams who are capable of turning their business plan into reality. Lenders have a legal right to interest on a loan and repayment of the capital. turnaround or revitalise a company. unless a business can offer the prospect of significant turnover growth within five years.

To obtain their funds. Venture Capital Trusts (VCT's) are quoted vehicles that aim to encourage investment in smaller unlisted (unquoted and AIM quoted companies) UK companies by offering private investors tax incentives in return for a five-year investment commitment. The first were launched in Autumn 1995 and are mainly managed by UK venture capital firms.Does management have the ability to exploit this potential and control the company through the growth phases? .Is the product or service commercially viable? . there may be some restrictions regarding the company's future development within the first few years. the venture capitalist may use one or more of the following types of share capital: . can take a venture capitalist anything from one month to one year but typically it takes between 3 and 6 months. Most UK venture capital firms raise their funds for investment from external sources. before the end of the fund. venture capital firms have to demonstrate a good track record and the prospect of producing returns greater than can be achieved through fixed interest or quoted equity investments. They raise their funds from several sources.Does the company have potential for sustained growth? .Does the potential financial return on the investment meet their investment criteria? In structuring its investment. plus any additional returns made. This generally requires the investments to be sold. Within this period the funds invest the money committed to them and by the end of the 10 years they will have had to return the investors' original money.Where do venture capital firms obtain their money? Just as management teams compete for finance. If funds are obtained from a VCT. What is involved in the investment process? The investment process. mainly institutional investors. the venture capitalist will consider several principal aspects: . such as pension funds and insurance companies.Does the possible reward justify the risk? . Many funds raised from external sources are structured as Limited Partnerships and usually have a fixed life of 10 years. Venture capital firms' investment preferences may be affected by the source of their funds. Most approaches to venture capitalists are rejected at this stage. or to be in the form of quoted shares. The key stage of the investment process is the initial evaluation of a business plan. In considering the business plan. Much depends on the quality of information provided and made available. There are always exceptions to the rule and deals can be done in extremely short time frames. from reviewing the business plan to actually investing in a proposition. so do venture capital firms.

The shares may be redeemable on fixed dates or they may be irredeemable. . Loan capital Venture capital loans typically are entitled to interest and are usually. In a venture capital deal these are the shares typically held by the management and family shareholders rather than the venture capital firm. . They rank ahead of all classes of ordinary shares for both income and capital. A secured loan will rank ahead of unsecured loans and certain other creditors of the company. They typically carry a higher rate of interest than bank term loans and rank behind the bank for payment of interest and repayment of capital. Later they can play an important role in the process of "going public" by advising on the terms and price of public issues and by arranging underwriting when necessary. Sometimes they may be redeemable at a fixed premium (eg. Venture capital investments are often accompanied by additional financing at the point of investment. Loans may be secured on the company's assets or may be unsecured.Finance houses . variable rates of interest. usually for larger amounts than clearing banks.For example. Preference shares These are non-equity shares. Ordinary shares have votes. Their income rights are defined and they are usually entitled to a fixed dividend (eg. often asset based and usually for a fixed term and at fixed interest rates.Ordinary shares These are equity shares that are entitled to all income and capital after the rights of all other classes of capital and creditors have been satisfied. Alternatively. they may be entitled to a fixed dividend or share of the profits. This is nearly always the case where the business in which the investment is being made is relatively mature or well-established.organise the provision of medium to longer-term loans. more usually.provide various forms of installment credit. Other forms of finance provided in addition to venture capitalist equity include: . They may be convertible into a class of ordinary shares. A loan may be convertible into equity shares. Preferred ordinary shares These are equity shares with special rights. it may have a warrant attached which gives the loan holder the option to subscribe for new equity shares on terms fixed in the warrant. In this case. . Preferred ordinary shares have votes. it is appropriate for a business to have a financing structure that includes both equity and debt. though not necessarily repayable. 10% fixed). at 120% of cost). ranging from hire purchase to leasing.Merchant banks .principally provide overdrafts and short to medium-term loans at fixed or.Clearing banks .

Entrepreneurs should not hesitate to ask for references from investors. unlisted company has a long-term horizon. An investment in an private. These facilities require either a second charge on the company's assets or are unsecured. they desire a higher return on their investment. fund raising. Mezzanine firms . These skills may include industry knowledge. The IVCA Directory of Members provides basic information about each member's investment preferences and is available from the Association. financial and strategic planning.provide loan finance that is halfway between equity and secured debt. Finally. so an investor's ability to invest in additional financing rounds if required is also important. and access to international markets and technology. Often venture capitalists have preferences for particular stages of investment. either on a recourse basis (you retain the credit risk on the debts) or on a non-recourse basis (the factoring company takes over the credit risk). amount of investment.provide financial aid to UK companies. and geographical location. Often businesses do not meet their cash-flow forecasts and require additional funds. Because the risk is consequently higher than senior debt. It is generally most appropriate for larger transactions. the interest charged by the mezzanine debt provider will be higher than that from the principal lenders and sometimes a modest equity "up-side" will be required through options or warrants.provide finance by buying trade debts at a discount. recruitment of key personnel. Selecting the VC investors The members of the Indian Private Equity and Venture Capital Association comprise a number of venture capital firms in India. industry sectors.Factoring companies . ranging from project grants (related to jobs created and safeguarded) to enterprise loans in selective areas. in accepting these risks. What do VC's look for Venture capitalists are higher risk investors and. typically 4-6 years. but also the additional value that the venture capitalist can bring to the company. mergers and acquisitions. the entrepreneur should study the particular investment preferences set down by the venture capital firm. It is important to select venture capitalists with whom it is possible to have a good working relationship. when choosing a venture capitalist. Government and European Commission sources . Prior to selecting a venture capitalist. The venture capitalist manages the risk/reward ratio by . the entrepreneur should consider not just the amount and terms of investments.

Once a short list of appropriate venture capitalists has been selected. The rejection may not be a reflection of the quality of the business. the entrepreneur can proceed to identify which investors match their funding requirements. international marketing. This includes making an investment at a reasonable price per share (valuation). Venture capital is not suitable for all businesses. Venture capitalists have differing operating approaches. mergers and acquisitions. The entrepreneur should not be discouraged if one venture capitalist does not wish to proceed with an investment in the company. . all of the above questions should be answered in the Business Plan.only investing in businesses which fit their investment criteria and after having completed extensive due diligence. venture capitalists look for the clear exit opportunity for their investment such as public listing or a third party acquisition of the investee company. These differences may relate to location of the business. financial projections. the size of the investment. the stage of the company. The venture capital firm will ask prospective investee companies for information concerning the product or service. fast growing or untapped markets with a defensible strategic position such as intellectual property or patents. At this point. and networks. Often entrepreneurs may want to ask the venture capitalist for other firms that might be interested in the investment opportunity. industry specialization. as a venture capitalist typically seeks : Superior Businesses Venture capitalists look for companies with superior products or services targeted at large. In reality. Exit Opportunity Lastly. Assuming the venture capitalist expresses interest in the investment opportunity. the venture capitalist will also seek to structure a deal to produce the anticipated financial returns to investors. Appropriate Investment Structure As well as the requirement of being an attractive business opportunity. the market analysis. Venture capitalists seldom seek managerial control. and importantly questions about the management team. the entrepreneur should contact the venture capital firm and identify an investment manager as an initial contact point. structure of the investment and involvement of the venture capitalists in the companies activities. a good business plan is a pre-requisite. the investment required and how it is to be used. Quality and Depth of Management Venture capitalists must be confident that the firm has the quality and depth in the management team to achieve its aspirations. but rather a matter of the business not fitting with the venture capitalist's particular investment criteria. rather they want to add value to the investment where they have particular skills including fund raising. how the company operates. product development.

including a realistic "SWOT" (strengths. yet balance "sales talk" with realism in order to be convincing. Provide the reader a combination of clear description and analysis. as it may well determine the amount of consideration the venture capital investor will give to your detailed proposal. Is there an opportunity to develop a second-generation product in due course? Is the product or service vulnerable to technological redundancy? If relevant. A non-specialist must be able to understand the plan. Background on the company Provide a summary of the fundamental nature of the company and its activities. weaknesses. such as patents attained. It summarises your business plan and is placed at the front of the document. It should be limited to no more than two pages and include the key elements of the business plan. it should be no longer than 25-30 pages. It is important to use plain English. Describe the stage of development of the product or service (seed. pending or required. Assess the impact of legal protection on the marketability of the product. The business plan must therefore convince the venture capitalist that the company and the management team have the ability to achieve the goals of the company within the specified time. expansion). It should be clearly written and powerfully persuasive.The Business Plan Venture capitalists view hundreds of business plans every year. Market analysis The entrepreneur needs to convince the venture capital firm that there is a real commercial opportunity for the business and its products and services. especially if you are explaining technical details. Aim the business plan at nonspecialists. 3. opportunities and threats) analysis. The business plan should explain the nature of the company’s business. This is especially important if the product or service is technically orientated. The product or service Explain the company's product or service. • • • Emphasise the product or service's competitive edge or unique selling point. 1. emphasising its financial viability. It is vital to give this summary significant thought and time. as a general rule. Avoid jargon and general position statements. a brief history of the company and an outline of the company’s objectives. what it wants to achieve and how it is going to do it. early stage. Essential areas to cover in your business plan Executive Summary This is the most important section and is often best written last. The company’s management should prepare the plan and they should set challenging but achievable goals. 2. The length of the business plan depends on the particular circumstances but. explain what legal protection you have on the product. .

Venture capital firms will sometimes assist in locating experienced managers where an important post is unfilled . it is necessary to address how the prospective business will exploit these opportunities. What is the size of the whole market? What are the prospects for this market? How developed is the market as a whole. What is your pricing strategy? How does this compare with your competitors? What are your advertising. or being involved with. What are your projections for the company and the market? Assess future potential problems and how they will be tackled. growing. and their roles should be specified. Include an organisation chart. developing.• • • • Define your market and explain in what industry sector your company operates. • • • • The senior management team ideally should be experienced in complementary areas. and if so.provided they are convinced about the other aspects of your plan. i. Have these problems been overcome. highlighting the individual’s previous track record in running. What is your planned sales force? What are your strategies for different markets? What distribution channels are you planning to use and how do these compare with your competitors? Identify overseas market access issues and how these will be resolved. minimised or avoided. mature. finance and marketing. declining? How does your company fit within this market? Who are your competitors? For what proportion of the market do they account? What is their strategic positioning? What are their strengths and weaknesses? What are the barriers to new entrants? Describe the distribution channels. such as management strategy. A concise curriculum vitae should be included for each team member. 4.e. Explain the historic problems faced by the business and its products or services in the market. . concerns and risks affecting your business and the industry in which it operates. The management team Demonstrate that the company has the quality of management to be able to turn the business plan into reality. List your advisers and board members. Identify the current and potential skills gaps and explain how you aim to fill them. The special abilities each member brings to the venture should be explained. how? Address the current issues. successful businesses. Who are your customers? How many are there? What is their value to the company now? Comment on the price sensitivity of the market. • • • Outline your sales and distribution strategy. Marketing Having defined the relevant market and its opportunities. public relations and promotion plans? 5.

6. a meeting will be arranged with the entrepreneur/management team to discuss the business plan. cash flow and working capital. or supplier costs increase by 30%. Financial projections The following should be considered in the financial aspect to your business plan: • • • • • • • Realistically assess sales. venture capital. Relevant historical financial performance should also be presented. Amount and use of finance required and exit opportunities State how much finance is required by your business and from what sources (i. Avoid being overly optimistic. Keep the plan feasible. Demonstrate the company's growth prospects over. banks and others) and explain the purpose for which it will be applied. For example.e. for example. It is an . Highlight challenges and show how they will be met. costs (both fixed and variable). Explain the research undertaken to support these assumptions. Ensure these are easy to update and adjust. management. Produce a profit and loss statement and balance sheet. costs and cash flow for both the short and long term. what if sales decline by 20%. identify the likely timing and any associated progress "milestones" or goals which need to be achieved. If so. Ask "what if?" questions to ensure that key factors and their impact on the financings required are carefully and realistically assessed. • What are the costs associated with the business? What are the sale prices or fee charging structures? What are your budgets for each area of your company's activities? Present different scenarios for the financial projections of sales. Possible exit strategies for the investors may include floating the company on a stock exchange or selling the company to a trade buyer Investment Process The investment process begins with the venture capitalist conducting an initial review of the proposal to determine if it fits with the firm's investment criteria. The company’s historical achievements can help give meaning. 7. Assess your present and prospective future margins in detail. Consider how the venture capital investors will exit the investment and make a return. Preliminary Screening The initial meeting provides an opportunity for the venture capitalist to meet with the entrepreneur and key members of the management team to review the business plan and conduct initial due diligence on the project. a three to five year period. or both? How does this impact on the profit and cash flow projections? If it is envisioned that more than one round of financing will be required (often the case with technology based businesses in particular). bearing in mind the potential impact of competition. context and credibility to future projections.

product life cycles. a global management consulting firm that released the India PE Report 2011 on Tuesday. The venture capitalist will look carefully at the team's functional skills and backgrounds. The venture capitalist also studies the industry carefully to obtain information about competitors. potential to exploit substantial niches. Source." said Rajan adding that the problem of capital overhang exists even in mature markets such as the US. //www. The investment process can take up to two months. and distribution channels.org/ PE firms sitting on $20 bn meant for India investment April 27." said Sri Rajan. Negotiating Investment This involves an agreement between the venture capitalist and management of the terms of the term sheet.important time for the management team to demonstrate their understanding of their business and ability to achieve the strategies outlined in the plan. entry barriers. It is advisable to plan the business financial needs early on to allow appropriate time to secure the required funding. managing director and head of the private equity practice in India at Bain & Company . The venture capitalist will then proceed to study the viability of the market to estimate its potential. If approved. Often they use market forecasts which have been independently prepared by industry experts who specialise in estimating the size and growth rates of markets and market segments. The due diligence may continue with reports from other consultants. and sometimes longer. 2011 Private equity firms are sitting on at least $20 billion of uninvested capital or dry capital that can be deployed in India as deal activity picks up and the economic recovery gains pace across the country. "The capital overhang will lead to immense competition in the market wherein the chase for high quality deals will intensify. Final terms can then be negotiated and an investment proposal is typically submitted to the venture capital fund’s board of directors. "Private equity firms who are sitting on dry capital will invest it in other parts of Asia in case if they don't do it in India. legal documents are prepared.indiavca. . often called memorandum of understanding (MoU). The amount of dry capital currently available in the industry is enough to fund all 2010 deal activity twice over. It is important therefore not to expect a speedy response. Approvals and Investment Completed The process involves due diligence and disclosure of all relevant business information.

with nearly 60% of that total coming in 2007 alone. Venture Capital Deals • • • • • 0 Print Comment By Dan Primack May 19. Investor appetite for exposure to the country's private equity market remains strong given the mammoth potential in the country across diverse sectors including banking and financial services. according to a regulatory filing. healthcare. The latter part of 2008 and 2009 witnessed a lull in terms of corporate activity. Between 2004 and 2007.4% pre-IPO stake). Shareholders include Khosla Ventures (31.3 billion in the year.com . 2010 saw a sharp recovery in the domestic economy which prompted a host of private equity to exit from their investments. a Pasadena. a research firm focused on private equity. according to Preqin . www. infrastructure and consumer products. Kior currently is in registration for a $100 million IPO. 2011: 7:43 AM ET Kior Inc.-based renewable fuels company that has developed a "biomass catalytic cracking process. as per the report.Last year.kior. It also secured a $75 million interest-free loan from the Mississippi Development Authority.5%). according to the Bain report released on Tuesday..9%) and Alberta Investment Management Corp. The private equity industry was one of the biggest casualties in the global financial meltdown when investors shied away from fresh investments. PE firms invested as much as $9. India saw the largest increase in deal activity among the big Asia-Pacific markets in 2010. more than double the amount of 2009. underscoring the growing upward sentiment across the country's private equity space." raised $55 million in Series C funding last month. A host of private equity firms are also looking to raise funds to tap the growing opportunity in the country with nearly 120 private equity funds seeking to raise about $34 billion this year.5 billion. Calif. (28. Private equity exited from about 120 companies to garner $5. private equity and venture capital firms invested more than $28 billion in India. Artis Capital Management (39.

9flats.com MongoLabs. EDBI led the round. www. a Burlingame. and was joined by return backers Amadeus.com Datameer Inc.-based provider of end-user analytics solutions built on Apache Hadoop.cognitivematch..com Cognitive Match. GRP Partners. a London-based provider of display ad and onsite predictive targeting. and was joined by Baseline Ventures.com WEDNESDAY. a Singapore-based maker of advanced polymers for use in semiconductor mask-making. has raised £10 million in new VC funding. Calif.datameer. and was joined by return backer Redpoint Ventures.. a UK-based developer of technology to reduce power consumption in smartphone transmitters. This expands the round to $27 million.Silecs International Pte Ltd. has raised $3 million in Series A funding.tv Marketfish.com Jobvite Inc.nujira. Intel Capital. Comcast Interactive Capital. www. a web-based healthcare network headquartered in Minneapolis. a San Mateo. including earlier investment from NDS Group. Calif.jobvite. www. Trident Capital led the round. has raised $27 million in VC funding from Bain Capital Ventures and existing shareholder Lemhi Ventures. www.silecs. has raised $9. Kleiner Perkins Caufield & Byers led the round. www. a Seattle-based provider of lead generation platform that gives businesses access to permission-based email marketing lists. MAY 18 Ability Network. a San Francisco-based database-as-a-service provider of MongoDB in the cloud.. has raised $10 million in VC funding led by Redpoint Ventures. and was joined by return backers CMEA Capital and ATA Ventures. www.25 million in Series B funding. has raised $15 million in Series C funding. a New York-based provider of ad-management systems for viewercontrolled video platforms.com. www.mongolabs. and was joined by Tempo Capital Partners.-based provider of online recruiting solutions. has raised $6 million in VC funding from Antrak Capital and return backer Dawn Capital.marketfish.com Nujira. has raised $7 million in new Series C funding from Time Warner Cable. a European operator of a P2P apartment rental site.5 million in VC funding from Javelin Ventures and Rustic Canyon Partners. and Finnish Industry Investment.com BlackArrow. has raised $16 million in Series E funding.com . www. www. Freestyle Capital and Bullet Time Ventures. Foundry Group led the round.blackarrow. has raised $4. fabrication and packaging. Innovations Kapital. Cisco Systems. NES Partners and Environmental Technologies Fund. Climate Change Capital Private Equity led the round.abilitynetwork. www. Mayfield Fund and Polaris Venture Partners.com 9flats.

a developer of an app that lets smartphone and tablet users better control their mobile data usage. Three Arch Partners.onavo. a Seattle-based provider of payment solutions for mobile app developers. a London-based social network for businesses. has raised C$2.com Tradeshift. www.-based developer of solid-state drive storage devices for enterprise . New Leaf Venture Partners. Quaker BioVentures. DCM and SK Telecom Ventures co-led the round. has raised $6. Kleiner Perkins Caufield & Byers and Nth Power.r2-financial.-based maker of a stimulation therapy system for the treatment of major depression. Interwest Partners.com TUESDAY. has raised $25 million in Series C funding. according to VentureWire. a Milpitas. Itochu Technology Ventures and return backers Jafco Ventures. www. www. has raised an undisclosed amount of "mezzanine financing" from Business Development Bank of Canada. www. a Montreal-based developer of marketing automation software.hara. and were joined by return backers Investor Growth Capital. a Toronto-based provider of risk and portfolio management software. has raised $30 million in Series E funding. has raised $3 million in Series A funding from Magma Venture Partners and Sequoia Capital.com SanDisk Corp. Calif. Calif. (Nasdaq: SNDK) has agreed to acquire Pliant Technology Inc. has raised $7 million in new VC funding from Notion Capital. Energy Technology Ventures and Focus Ventures co-led the round. www.com R2 Financial Technologies.com Hara Software. www..singlecheckout.com Billing Revolution. www. www.com SciFluor Life Sciences.Onavo. and Onset Ventures. Penn. MAY 17 Neuronetics Inc.resolvebio. It previously had been seeded by PayPal. a San Mateo. GO Capital and BDC Venture Capital co-led the round.4 million in first-round VC funding.. has raised $2 million in Series A funding from New Science Ventures and Easton Capital.com Whatsnexx.6 million in Series B funding. www. a Seattle-based developer of biologic therapies for those suffering from lupus. has raised $5 million in first-round funding from Allied Minds. a Boston-based developer of technology that enables late-stage fluorination of pharmaceuticals and other commercial chemicals.NeuroStarTMS.tradeshift. and were joined by Navitas Capital. Polaris Venture Partners and Pfizer Venture Investments co-led the round.whatsnexx. a Malvern.com Resolve Therapeutics.sciflour.-based provider of environmental and energy management solutions to businesses.

has raised an undisclosed amount of VC funding from August Capital. Calif. Arcturus Capital. Pliant had raised over $50 million in VC funding. Mass. www. embedded modem and video surveillance applications. Backers include KLP Enterprises. The company previously raised $20 million.werinteractive. LaunchCapital and Mass Medical Angels.foundationcapital. has raised $7. Backers include Paul Fitzsimons (ex-partner with Apax Partners) and Elio Leoni-Sceti (ex-CEO of EMI Music). www. a Newport.com First To File. and was founded by LegalZoom co-founderBrian Lee and reality TV star Kim Kardashian. a San Francisco-based platform for developing. audio. Divergent Ventures and Teredata Corp.shoedazzle..com Conexant Holdings Inc. has raised $2 million in Series B funding led by return backer Foundation Capital. an online shoe shopping assistant.com We R Interactive.5 million in new second-round funding.com Dealfind. Menlo Ventures. and was joined by return backers Harrison Metal and Baseline Ventures. plus unspecified equity incentives.fortune. Life Science Angels. www.stackmob. a Cambridge.5 million in Series A funding. www.htm .net/business/finance/raising_finance_venture%20capital.computing. www. Conexant is owned by Golden Gate Capital. a San Mateo.com MoMelan Technologies.sandisk. Trinity Ventures led the round. has raised $40 million in Series C funding. www. from Lightspeed Venture Partners.cnn.com MONDAY.com StackMob.momelan. deploying and managing mobile apps in the cloud. www. The deal is valued at around $327 million in cash.com/2011/05/1 http://tutor2u. has raised $3.dealfind. Calif. Georgian Partners and and the Ontario Venture Capital Fund.-based provider of semiconductor solutions for imaging. has raised C$31 million in VC funding. a Canadian daily deals provider.conexant.-based provider of IP document management solutions. MAY 16 ShoeDazzle. has raised $5 million in second-round funding. Backers include Insight Venture Partners.-based developer of a skin-grafting device to treat dermatological disorders. www. a London-based online game publisher. and was joined by return backers Lightspeed Venture Partners and Polaris Venture Partners. Andreessen Horowitz led the round.com p://finance.

Venture capital funds also now in agri business! And social sectors! By Editorial Team • on September 15. Pizza Hut and Costa Coffee chains in India. for about Rs 250 crore. "Devyani also plans to go public before 2013." he added. Come in plenty to agribusiness.ICICI Venture acquires 10% in RJ Corp's Devyani International for Rs 250 crore by www. confirmed the investment deal. valuing Devyani at $500 million. 2010 • • • • • • Print Comment Feed Stumble it Digg it del.000-crore RJ Corp. "The deal was signed on Wednesday. Ravi Jaipuria.com on Fri 13 May 2011 05:46 PM IST | Permanent Link | Cosmos ICICI Venture has bought a 10% stake in RJ Corp's Devyani International. water purification. but declined to comment on its size. sensing an opportunity to build a .us Facebook Are the new sources of risk investments in the otherwise capital-hungry agriculture! Now agriculture/agribusiness. clear energy.indiape. new rural sector focused business initiatives are getting VC funds. alternative energy.icio. founder of the Rs 3. two people familiar with the development said. biomass power and such social sector business start-ups! Microfinance. Two officials close to the development said the private equity firm will pay Rs 225-250 crore for a 10% stake. which runs KFC." he told ET on Wednesday. underserved sectors draw VC funds! Mainstream venture capital funds are increasingly looking to invest in firms targeting the poorest sections of society. where poor people directly benefit! Mass markets. It will support expansion of our foods business in India and in global markets.

In May. Vistaar Livelihood Finance. Elevar Equity and philanthropic investment firms such as Omidyar Network. a mainstream investor and Elevar Equity. Aavishkaar. a social venture fund. raised $ 5. micro-finance. a global alternative energy company. agri-business.light Design.5 million from a pool of investors including Nexus Venture Partners and Draper Fisher Jurvetson in a round led by Omidyar Network. a microfinance firm.profitable business in a market devoid of much competition. water and sanitation were the premise of social venture funds such as Acumen Fund. raised money from SVB India Capital Partners. D.agricultureinformation. Investing in areas such as lowcost healthcare. ://www.com/ .

Financial Services and Insurance Source: Venture Intelligence PE Deal Database PE Investments – By Stage (Volume) .PE Investments by Industry – By Value * Banking.