Venture capital funds do not last forever, and Cross Atlantic Capital Partners has said it will wind down a fund started in 1999.
The Radnor firm, which has more than $500 million under management, said Friday it will liquidate its remaining portfolio holdings. Cross Atlantic said the decision comes after several "successful exits, including three IPOs."
Firms generally are not eager to tout the beginning of the end for a fund. But in this case, the Cross Atlantic Technology Fund L.P. owns 668,572 shares of Rubicon Technology Inc., a publicly traded maker of products used in LEDs and other optical equipment.
First Round Capital, one of the nation's most active venture capital investors, has been picked by the City of Philadelphia to manage its $6 million seed fund.
The West Philadelphia-based First Round Capital intends to invest the capital in Philadelphia start-ups over the next two to three years. The average size of investment will be about $500,000, according to First Round founder Josh Kopelman.
At that amount, the Startup PHL Seed Fund would invest in 12 companies from the information technology sector.
Wow, the Dow Jones industrial average blew past its previous high, set on Oct. 9, 2007, on Tuesday, closing up 125.95 points at 14,253.77.
Eagle-eyed readers of the Inquirer's MarketWatch investment page have already noticed the rise in the rate for U.S. Savings Bonds.
But the reason why will likely be small comfort for small investors.
The federal Bureau of the Public Debt on Monday the rate for Series I Savings Bonds issued from May through October will be 4.6 percent, up from 0.74 percent for the last six months. Here's a link to the announcement.
If you had bought Ford Motor Co. shares on March 9, 2009, when they closed at $1.74, you might be feeling flush enough now to consider buying a fast and furious Mustang rather than a thrifty Fiesta.
Ford shares closed at $15.50 on Thursday for a total return of 791 percent since then.
Buying any U.S. automaker’s shares would have been a rather courageous move, given the sorry state of the industry at the time. In fact, the whole stock market had cratered. The major U.S. equity indexes, including the Standard & Poor’s 500, had fallen to new lows in March 2009 since hitting all-time highs Oct. 9, 2007.
Mirroring the frustratingly slow recovery in the broader economy, the venture capital sector cheered improved, if somewhat simmering, activity in the first quarter.
Nationally, about $5.9 billion was invested in 736 deals in 2011’s first three months, according to the PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, released Friday.
In the fourth quarter, venture capital firms poured $5.6 billion into 827 deals.
A University of Illinois at Chicago survey finds Philadelphia among the 12 best cities at providing investors with financial information online.
It may seem odd to think of cities needing to provide investor relations services in addition to picking up the trash, putting out fires and arresting criminals.
But then, the U.S. municipal bond market is estimated to be $3 trillion. So you'd hope the issuers of all that debt would be diligent in keeping the buyers of that paper informed.
Angel investors may indeed be all around us, but I’m beginning to wonder if these wealthy investors have enough time to belong to all of the groups that want them as members.
That thought occurred to me last week as I watched the inaugural meeting unfold of the Philadelphia chapter of the Keiretsu Forum, an international angel network based in San Francisco.
After months of work, due-diligence expert Howard Lubert and financial adviser Vincent Leusner have brought the 21st chapter of the Keiretsu Forum to Philadelphia. Lubert, who is the brother of prominent local investor Ira Lubert, has been an angel investor with other groups over the years, but said he was impressed by how Keiretsu Forum’s process works.