Word: investive
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...invests in a broad group of third-party venture capital firms. These firms are located across the country, from Highland Capital Partners headquartered in Boston, to Crosspoint Venture Partners, of northern California, to Walden International Investment Group of San Francisco. These companies invest in firms focusing on a broad range of start-up companies, from the internet to communications to health care...
While Harvard used to invest directly in businesses without the help of the third-party companies, changes in the tax laws after the Republicans took control of the Congress made this difficult to continue...
...this increased interest in investing in venture capital is not all good news for Harvard. Last year the University was not able to invest as much money as it would have liked in venture capital. Venture capital firms are not able to accommodate the heavy requests to invest and are force to set caps on the amount of money universities can invest. Because Harvard's endowment is so large the smaller amounts have less effect on the bottom line...
Meyer says that since July 1, HMC has been able to bring its venture capital investments close to its 15 percent goal. He also notes that one reason Harvard had problems being fully invested in venture capital was that it tries to only invest in the top-tier firms with proven track records, not wanting to face undue risk...
...with many dotcoms declining, neither venture capitalists nor Wall Street is eager to give them a dime, prompting a flurry of IPO postponements. "You'd be a fool to invest in an e-tailer that sells books today or wants to go into any other well-recognized market," says Michael Moritz, a general partner at Sequoia Capital in Silicon Valley, which launched the popular Internet portal Yahoo. "The large waterfront properties have not only been purchased but developed...